Top 7 Online Bookkeeping Services for Businesses in 2023

April 25, 2023
6:00 pm
BPO Insights
Bookkeeping Services, Finance and Accounting Services

Setting up an excellent Online Bookkeeping system is essential to any successful small business. With so many options available nowadays, deciding which one will work best for your unique situation can take time. That’s why we have compiled our list of the 7 Online Bookkeeping Services for businesses in 2023. Get ready to learn how each service works and take advantage of their features – so you can focus on growing your small business this year.

Top 7 Online Bookkeeping Services

Bench

Bench is an Online Bookkeeping Service. With significantly lower costs than other platforms and a suite of benefits, such as tax assistance and payroll integration, you can trust that your finances are in capable hands. Plus, you won’t need to worry about falling behind: catch-up services will help get you back on track. For even more control over bill pay and invoice creation, sync this powerful platform directly with accounting software like FreshBooks.

Bench has won over its users with an easy-to-use, intuitive platform that can be accessed on the go – perfect for remote workers. There’s even more convenience, including tax and consulting services and a mobile app for iOS devices. Unfortunately, customers will have to wait until Android support is available, but bill payments and invoicing capabilities still need to be added to this service package.

Key Features:

Keep your finances up to date with our monthly statement reports. Or take advantage of BenchRetro, a program that helps you catch up on years’ worth of bookkeeping in one go – all for an affordable fee.
Get comprehensive tax coverage with a Premium plan. Your taxes are taken care of from A-Z, including Federal and State Business Tax Returns plus Individual Sole Proprietor returns.
Streamline payroll with Gusto. The integration simplifies employee information management, tax filings, and benefits – without the hassle. Plus, get W-2s quickly and accurately generated for you in no time.
Track payments to independent contractors easily with 1099 reporting. This comprehensive service logs the transaction date, payee name, total amount paid in a tax year, and payment method for your records. Keep tabs on contractor earnings effortlessly.

Bench makes it easy to get back on track with two simple and affordable pricing plans. You can choose the Essential plan for monthly bookkeeping at a reduced rate of $249 per month when you pay annually or opt for the Premium package, which includes tax filing and advisory services – brought down from $499 to just $399.

Xendoo

Xendoo delivers unparalleled financial support to small businesses through its cutting-edge online Bookkeeping Service. Access a dedicated team of finance experts specializing in bookkeeping, tax preparation, consulting, and more.

Key Features:

Xendoo helps franchises succeed with tailored reporting, multi-currency capabilities, and convenient group benefits, from tailored charts of accounts to practical online training sessions.
With Xendoo’s experienced sales tax experts, you can ensure that your taxes are filed accurately and quickly, helping maintain a sense of compliance with the law.
Xendoo offers the perfect solution for multi-business owners – streamline your finances and save time across all companies by adding them to one account.
Xendoo is to offer integration with Gusto, helping you make the most of your employee information. By leveraging this connection, it’s easy to process payroll and file all related taxes and forms – so managing those ever-important details can become just one less thing on the growing task list.

Xendoo offers a range of subscription services tailored to fit the needs of any business. From basic plans for smaller organizations to custom options perfect for companies with significant monthly expenses.

Xendoo offers a wide range of tailored packages with pay-as-you-go services. Signing up annually allows customers to enjoy 10% savings, while cancellations must be communicated 30 days ahead. Choose from Essential ($395/mo for $50k expenses & 4 bank accounts), Growth ($695/mo for $75k and 6 banking accounts), or Scale ($995/mo for 12 bank accounts +$125k in monthly expenses).

Bookkeeper.com

Bookekeeper.com helps businesses shift their bookkeeping off-site and into the cloud, allowing them to focus on core operations with convenient services like bill pay, tax return filing assistance, payroll support, and more.

Key Features:

Gain banking expertise with your very own dedicated bookkeeper and account manager. Your QuickBooks ProAdvisor will take care of all the financial ins and outs. At the same time, an experienced, customer service-oriented account manager ensures a seamless onboarding process – providing you peace of mind.
Keep tabs on your finances using the Monthly Reporting Packet. Receive critical insights into your business with a balance sheet, profit and loss statement, general ledger report, and statement of cash flows.
The all-inclusive monthly fee provides access to vital resources, such as specialized advice on software use, tax optimization strategies, and long-term planning.
With a monthly fee, you can have peace of mind knowing that your accounting software will be expertly set up for success.
Take advantage of an additional payroll or tax preparation option to save time and reduce stress. The services ensure your finances are in check so you can rest easy knowing everything is taken care of.

Bookkeeper.com offers four subscription levels suitable for businesses of all sizes, tailored to the number of transactions and frequency required.

Small business: $399/month for up to 100 transactions/month
Small business Plus: $599/month for up to 200 transactions/month + 20 bill payments
Small Business Advanced: $799/month for up to 300 transactions/month + 40 bill payments
Custom: Custom pricing for +300 transactions/month

QuickBooks Live

QuickBooks Live is an invaluable Bookkeeping Service directly provided by the top-rated accounting software for small businesses: QuickBooks Online. With this life saver, users can easily manage bank feeds, classify transactions and reconcile accounts to ensure their financial statements are printed accurately.

Key Features:

Benefit from the expertise of a devoted QuickBooks ProAdvisor who will manage all your financial records with unparalleled attention and precision.
Enjoy the convenience of viewing your QuickBooks Online data updates with real-time access. Your dedicated bookkeeper will securely connect to your account, ensuring you are always up-to-date and informed about financial matters.
With a customized setup, your bookkeeper will take the hassle out of how you manage accounts. Enjoy personalized support as they help connect and optimize all your bank & credit card transactions.
QuickBooks Online now provides an upgraded payroll experience so business owners can save valuable time and stay organized. This comprehensive solution seamlessly integrates with their existing software, delivering effortless payroll management at a convenient additional fee.

QuickBooks Live offers three distinct pricing tiers tailored to the needs of businesses, accommodating both small and large companies. With unlimited access to expert Accountants with a monthly subscription fee for QuickBooks Online ranging from $30 -$200.

Bookkeeper360

Bookkeeper360 is the perfect choice for small businesses utilizing Xero bookkeeping software. It provides a comprehensive array of services- from accounting and cloud-based bookkeeping to business advisory assistance — all packaged together as one powerful solution.

Bookkeeper360’s business app allows you to access unlimited insights for your Xero account and gain additional help from payroll, HR, taxes, back office, and CFO advisory services.

Key Features:

Enjoy the convenience of accessing your Xero or QuickBooks Online financial information anytime, anywhere, with Bookkeeper360’s mobile app. Get valuable insights on scorecards and metrics to take control of your business finances from a smart device.
Uncover more significant business potential with tailor-made financial guidance. The experienced accountants will collaborate closely with you to assess your finances, identify growth opportunities, and devise a comprehensive strategy that puts success within reach.
Ensure your finances stay in order and streamline the process with full-service payroll integration. The solutions start from just $46 per month, making it easier than ever to take care of HR processes.
Accrual basis accounting is a complex process that enables businesses to manage deferred revenue, inventory, and accrued expenses. It allows organizations to make informed financial decisions based on accurate recording of transactions as they occur.

You can select the service level and frequency that best fits your needs with three subscription plans. A great benefit is that no long-term contracts are necessary; if ever needed, cancel anytime.

Pay as you go: $125/hour for support for up to $20,000 in monthly expenses
Monthly: Starts at $399/month for cash and $549 for accrual for up to $20,000 in monthly costs; support included
Weekly: Starts at $549/month for money and $749 for accrual for up to $20,000 in monthly costs; support and advanced reporting included

Pilot

Pilot is a financial powerhouse offering essential Bookkeeping Service to the startup and small business community, from bookkeeping, CFO advisory, and tax support to customized solutions tailored specifically for companies backed by venture capitalists.

QuickBooks’ accrual-based and advanced Bookkeeping Services provide essential support as your business expands and progresses through new stages. An experienced bookkeeper will be assigned to you when you sign up for the service – ensuring a smooth transition from existing processes & software integration into Quickbooks with all necessary guidance provided.

Key Features:

Get the help you need to have your accounts in order with a bookkeeper dedicated exclusively to helping you. Your personal contact will set up and maintain your account so that all of your financial needs are handled without hassle.
Stay on top of your finances with monthly financial reports. The Basic plan offers you a monthly snapshot view, while the Core package can give even more customized and detailed information.
Pilot Tax’s comprehensive tax-management system offers the ease of federal, state, and local income prep with a single package – making 1099 filing more accessible than ever.

Pilot helps businesses meet their financial goals with three tailored bookkeeping plans that scale to fit expenses and business needs.

From the Starter plan, starting at just $499/month for those spending under $30,000 monthly – featuring dedicated finance expert support plus access to Financial Statements and more
For Core plan starts at $699/month for less than $30,000 in monthly expenses, includes priority support and expedited books delivery
Plus plan (Custom pricing) is most suitable for large businesses with complex needs

1-800Accountant

1-800Accountant provides businesses with the perfect solution to their accounting woes. With a nationwide virtual team of bookkeepers, tax and financial advisors, payroll specialists, and dedicated accountants who are experts in both your state & industry. Its mobile app makes it even easier for those working remotely or on the go.

Nonprofits can rest assured that this solution is the perfect companion for their business, guiding them from initial setup steps and aiding governmental filings to provide continuing education on compliance mandates. Plus, they’ll get ongoing bookkeeping help along the way.

Key Features:

1-800Accountant file your Articles of Incorporation, secure an employer identification number and serve as a registered agent to give you a head start in setting up operations with maximum tax savings.
No matter the size of your bookkeeping backlog, 1-800Accountant will provide the expertise to ensure that your financials are updated and accurate.
From tax advice and preparation to payroll processing, 1-800Accountant meets your business needs all year round. With different plans to select from, the services are designed specifically for you with personalized support every step of the way – including audit defense if necessary.

Unlock the full potential of your business with professional Bookkeeping Services tailored to fit you. Sign up for one of the annual subscription packages featuring custom options and financial reports only available through Enterprise. Both Corporation and Enterprise plan offer complete tax preparation assistance.

Business plan: $125/month for year-round tax advice and proactive tax planning
Corporation plan: $225/month for year-round tax advice, aggressive tax planning, and tax preparation
Enterprise plan: $375/month for year-round tax advice, aggressive tax planning, bookkeeping, and tax preparation

How to Choose a Bookkeeping Service

Review that the Bookkeeping Service uses a fitting accounting method

Consider the size and complexity of operations and what insights are most important. Cash basis is a more straightforward, cost-effective option but may not provide an in-depth view of your company’s finances. At the same time, accrual-based accounting can offer greater visibility into current assets, liabilities, and net worth at any given moment. No matter which method you choose, make sure it aligns with the needs of your unique organization.

Ensure the Bookkeeping Service integrates with your accounting software

Keep your accounting software running smoothly by selecting a compatible Bookkeeping Service! With the right partner, you can continue to use QuickBooks or Xero’s cloud-based solutions – leading names in the industry regarding all things finance related. Choose wisely and keep up operations without disruption.

Make a list of must-have Bookkeeping Service features

Regarding Bookkeeping Services, businesses must be picky about the features that meet their needs. It’s essential not only for a provider to offer basic accounting operations such as invoicing and inventory management but also additional tasks like payroll or HR-related responsibilities when needed. Tax support may additionally be required so owners can claim credits and deductions and have returns prepared on time without added stress.

Consider whether you need catch-up Bookkeeping Services

Staying on top of financial Bookkeeping Service is essential for businesses, but sometimes records can need to catch up. Bookkeepers offer essential catch-up services to help bring your books up to date with complete accuracy and transparency; however, it’s vital to know the price range ahead of time so you can plan accordingly.

Consider your budget

Sticking to a budget is essential when it comes to managing your finances. To ensure you’re getting the best bang for your buck, compare services and consider add-on features such as tax prep, payroll, and HR. If opting for QuickBooks or Xero Bookkeeping Service software, consider that cost too; remember about product demos and introductory calls for insight into what may be most suitable.

With the myriad of choices out there, we hope our list of the top seven online Bookkeeping Service has provided some clarity as you consider which best fits your individual needs. Remember to review every service thoroughly before signing up for one, weighing the cost savings and capabilities each solution provides. Once you’ve made sure that your choice meets all your criteria and preferences, secure a reliable source of technical assistance if needed to help keep everything under control and move forward into a more prosperous future.

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