The 5 Best Online Accounting Firms for Small Business

Bookkeepers and accountants usually charge a fee per hour of service. The average cost of accounting services for small business differs for each unique situation. But since bookkeepers do less-involved tasks, their rates are often cheaper than accountants. Now it’s time to take your business bookkeeping for startups to the next level and ensure its future success by putting an accounting team in place. Allow them to give you the advantage of maximized efficiency of your business income and expenses while holding your employees accountable and minimizing exposure to various financial and audit risks.

This is an expensive time to be running a small business, but there are ways to protect yourself from the effects of inflation. Many or all of the products featured here are from our partners who compensate us. This influences which products we write about and where and how the product appears on a page. Bookkeeping is the process of categorizing all your income and expenses into a clear reporting structure. Be on the lookout for more info on how Block Advisors can help with your small business needs. Do your own bookkeeping with our on-demand support along the way.

Trusted by 25,000+ American small business owners

You should be able to access a dedicated bookkeeper for any questions or advice and one-on-one assistance. There are major differences between the three types of bookkeepers and what each can offer your business. Figure out which works for your business and start tackling the problems, or potential problems, with your books.

Another option is utilizing the American Institute of CPAs’ directory or the National Association of State Boards of Accountancy, which allows users to search by state and region. Reputable small business accountants and accounting firms should have no problem setting up an exploratory meeting to go over your needs, as well as provide several references. The Bookkeeper360 mobile app integrates with your Xero account to provide business insights, and there are also payroll, HR, taxes, back office, and CFO advisory services available.

A guide to raising capital as a small business founder.

We work with family and closely-held businesses in various industries such as construction, healthcare, non-profit, manufacturing and agribusiness, to name a few. After you’re matched with a dedicated bookkeeper, you can opt to be trained on day-to-day bookkeeping tasks, which is ideal for novice QuickBooks users. Your bookkeeper will assist you with setting up your chart of accounts, connecting your banks, and creating a plan to clean up any existing data. But while your financial statements are sent to you monthly, your bookkeeper won’t pay bills, send invoices, manage inventory, and provide financial advice. Similar to competitors, Decimal offers additional features beyond bookkeeping services, like invoicing, bill pay and payroll.

Not to mention, having access to up-to-date financial statements instantly is a great benefit. Plenty of people believe bookkeepers’ work is primarily centered on data entry and some even mistakenly believe bookkeeping is tied to tax roles. However, true quality bookkeeping is a forward-looking accounting services-focused position, not an archival position. And for those who correlate bookkeepers with tax functions, bookkeepers are rarely even properly certified to prepare taxes or file them. A full-charge bookkeeper can also manage payroll, handle deposits, create and maintain financial reports, manage the ever-changing world of sales taxes as well as quarterly taxes and withholding. Bookkeepers also reconcile bank statements to internal accounts and even help out during an internal or IRS audit.

Bench: Overall Best Online Bookkeeping Service

It also offers a plan with unlimited income tax support and annual tax filing services for $399 per month when billed annually. In addition, Pilot performs automatic transaction imports, monthly account reconciliations, and cash forecasting. Inventory tracking, accounts payable and receivable reporting, as well as tax preparation and filing, are add-on options for an additional fee. That’s a comprehensive offering for startups or small businesses that want to scale up quickly.

Its services are built around the needs of startup companies backed by venture capitalists. QuickBooks Live dedicated bookkeepers can not only perform ongoing maintenance of their books but also help with setting them up and correcting past errors—something that its users appreciate. The ability to speak with a live person with a variety of communication preferences, including one-way videoconferencing, is also a plus. If you are behind on your bookkeeping, you can use Bench’s Catch Up and Retro bookkeeping services to bring your books up to date. The Bench platform gives you monthly financial statements and expense overviews to keep you in control of your money. At-a-glance visual reports help you see the big picture and give you actionable insights to help you grow your business.

Your Business Deserves Modern Accounting and Bookkeeping Processes too!

Advisors who are by your side for your company’s unique journey. That’s the team you’ll find at RKL, where our Small Business Services Group is exclusively dedicated to supporting business owners from start up to exit and every stage in between. Our accounting and bookkeeping processes can reduce our clients’ monthly workload by 20%-30%, depending on the project. We replace backdated, manual, and untimely bill collection and submission functions with proven, automated systems that align with the unique needs of our clients. We execute our deliverables in platforms built with industry-best, innovative, and robust technology. As a small-business owner, you’re often busy trying to deliver the best-quality services and products, leaving less time to maintain your finances and accounting.