Best Bookkeeping Services for Small Business
Launching a business can get you feeling over the moon. Now that you’re over the challenge of building a business, the next obstacle is sustaining and managing it effectively. How do you do this? Effective business management means you have visibility over everything that’s happening in your business. By doing so, you’ll be able to make sound decisions to improve business productivity and performance.
Every entrepreneur’s goal is to have a profitable business. To attain this, you should always aim for an excellent bottom line. Not many entrepreneurs fully understand what it takes to be profitable, which is why many businesses are going towards the wrong path. The most important thing in managing your business is to always guard your financial backbone. When you have full knowledge of your financial standing, you get to make sound decisions that will support your business growth.
Employing accountants or financial consultants is one way that you can make sure to be on top of your financials. However, this is not something that all startup owners can afford, making it inaccessible to several businesses.
Having a systematic accounting process will save you from headaches in the future. Thus, if you don’t have the means to pay for accountants, a good alternative would be to utilize a bookkeeping technology or service to manage your financials. Luckily, there are tons of bookkeeping services available today, serving small businesses to enterprise-level companies. In this blog, we’ll give you our top brand picks for small business accounting services.
What makes an excellent accounting service?
Investing in the right accounting solution is a vital key to successfully managing your business. Good accounting software must be straightforward, user-friendly, cost-effective, and powerful. It should be straightforward enough to give you precise data on your financial health but user-friendly enough to not overwhelm you with technicalities. It should also provide you with a robust reporting solution to give you insights on all your financial data. Lastly, it should be cost-effective and feature-rich that offers excellent value for money.
The list below shows our top picks on bookkeeping services that met the criteria we’ve listed above. Now let’s get on with the list!
Best Invoicing Software and More
FreshBooks offers a simple yet comprehensive solution to business owners and individuals in managing their finances. Starting as a mere invoice tool, FreshBooks grew to provide a complete accounting management solution to self-employed individuals in different industries worldwide.
- Expense Tracking
- Financial Reporting
- Time Tracking
- Contact Management
- Project Management
- FreshBooks Mobile App
You can quickly contact their support team through phone (Monday -Friday, 8 AM-8 PM ET), email, and by filling out their support form. You can also get in touch with FreshBooks through its social media accounts, including Facebook, Twitter, LinkedIn, Pinterest, and Instagram.
Pricing: Lite, Plus, Premium, and Select subscription plan
- Lite plan costs $15 per month for one user. This package allows you to send unlimited invoices and estimates to five billable clients.
- Plus plan costs $25 per month for a single user. This package is best for businesses with up to 50 billable clients
- Premium plan costs $50 per month for a single user. This option is best for businesses with a more significant client base since it lets you send invoices for up to 500 billable clients.
- Select plan is a custom-plan depending on the scale of your business. It works best for businesses that bill at least $150,000 yearly and have over 500 clients.
- FreshBooks offers a 30-day free trial where you get full access to the service.
FreshBooks proves to be a flexible solution for small businesses. The solution makes it extremely easy to track expenses, send invoices, and generate reports in just a few clicks. Overall, FreshBooks proves to be the best accounting software for individuals and business owners who need a robust yet straightforward accounting solution.
If you want to know more about FreshBooks, check out my full review article in the link below.
Best Cloud-Based Accounting Solution
QuickBooks is an accounting solution that fits both small and large enterprises. With QuickBooks, businesses can manage accounts receivables and accounts payables easily. It also features a Quickbooks app, which lets users track projects while promoting collaboration among the team. It includes a centralized dashboard, enabling users to gain insights and produce intelligent decisions based on business trends.
- Unlimited Chart of Account Entries
- Report Generation
- Customizable for efficiency
- Analytics and Insights
- Seamless Integrations with Third-Party Apps
Quickbooks offers several channels for service support that includes phone, live chat, and support tickets from the website. You can also take advantage of its massive knowledge center, which can help you troubleshoot the problem firsthand.
Pricing: Essentials, Plus, and Advanced plan
- Essentials Plan costs $12.50 per month and includes essential bookkeeping tools plus bills management and time tracking features. The Essentials plan supports up to three users.
- Plus Plan costs $35 per month and is the most popular Quickbooks subscription package. This plan includes inventory tracking, project tracking, and profitability tracking functions, best for up to five users.
- Advanced plan costs $75 per month and is the most comprehensive Quickbooks plan. This package offers powerful business insights and analytics by Fathom, batch invoices and expenses, access customization, automated workflows, and company data restoration. It can support businesses with up to 25 users.
Quickbooks lets small businesses keep an eye on vital revenues with its full bookkeeping solution, anytime, and anywhere. Quickbooks Online offers various features and valuable tools essential for smooth operations and in keeping your financial health stable.
If you want to know more about what Quickbooks can offer, check out my full review article through the link below.
Best Virtual Bookkeeping for Startups
Bench is a virtual bookkeeping tool, perfect for small businesses. It has intuitive software with real human experts that produce accurate records for a sound financial statement.
- One-on-one Financial Support Expert
- Up-to-date and Powerful Financial Reporting
- Year-end Financial Package
- Real-time Cashflow Updates
- Tax Season Support
If you have any questions or issues about your financials, Bench will be quick to answer you through phone and email. Bench’s team of experts and bookkeepers are ready to help and give resolution within one business day.
Pricing: Starter, Macro, Boutique, Venture, and Corporate subscription plan
- Starter plan works best for businesses with monthly expenses below $1000. The Starter plan costs $139 per month for annual billings and $159 per month for monthly billing.
- Macro plan works best for businesses with monthly expenses of up to $7500. The Macro plan costs $159 per month for annual billings and $179 per month for monthly billing.
- Boutique plan works best for businesses with monthly expenses of up to $25,000. The Boutique plan costs $179 per month for annual billings and $199 per month for monthly billing.
- Venture plan works best for businesses with monthly expenses of up to $50,000. The Venture plan costs $219 per month for annual billings and $249 per month for monthly billing.
- Corporate plan works best for businesses with monthly expenses of up to $1 million. The Corporate plan starts at $299 per month.
Bench virtual bookkeeping perfectly suits small businesses. It’s cost-saving and offers plenty of room for flexibility. Moreover, plans are strategically priced depending on the business’ monthly expenses. Bench is a perfect choice if you’re looking for a virtual bookkeeper that provides close guidance with its team of experts.
If you’re interested in Bench, check out my full review article in the link below.
Best Tax Compliance Tool
Taxation can be a pain in the butt. Luckily, there are now tons of tools to automate your taxation requirements from checkouts to revenue reports. One of these tools is Quaderno. Quaderno offers a Saas tool specializing in tax compliance for small businesses.
Featured Services & Features:
- Automatic tax calculation
- Worldwide tax compliance
- Automatic receipts
- Seamless integrations
- Advanced security features
- Speedy customer service
- International tax alerts
- Multichannel tax reports
- Unlimited users
Quaderno offers email support paired with tons of tutorials and essential troubleshooting guides. The company is known for providing speedy customer resolutions with an average response time of 2.5 hours.
Pricing: Quaderno has five different plans: Hobby, Startup, Business, Growth, and Enterprise
- Hobby Plan: $29 per month for businesses with up to 25 transactions monthly
- Startup Plan: $49 per month for businesses with up to 250 transactions monthly
- Business Plan: $99 per month for businesses with up to 1000 transactions monthly
- Growth Plan: $149 per month for businesses with up to 2,500 transactions monthly
- Enterprise Plan: Custom price, best for businesses with over 2,500 transactions monthly
Quaderno makes an entrepreneur’s life easier. It gives you a simplified financial process in managing your invoices, tax compliance, up to revenue analysis in just a few clicks. If you want an efficient recording and management of your revenue and taxes, Quaderno is undoubtedly one thing to use.
Best Inventory and Bookkeeping Tool for Startups
Craftybase is an all-in-one business management software for your online business. The company boasts a fully automated bookkeeping and inventory solution without the need to manage boring financial spreadsheets. If you’ve always had a hard time managing your inventory and revenue seamlessly, this solution is for you.
- Pricing Guidance
- Cost of Goods Sold Calculations
- Compliance and Traceability
- Product & Order Management
- Expense Tracking
- Materials & Components
- Business Reporting & Analytics
Pricing: Starter, Pro, and Studio Plans
- Starter plan: $9 per month
- Pro plan: $15 per month
- Studio plan: $25 per month
Craftybase is a good option for business owners who dread financial spreadsheets. With Craftybase, you get a centralized solution for your inventory and financial management to help get you organized across your business merchandising and sales. This solution is best for businesses that need a simple yet comprehensive solution in managing store essentials.
Best Full-Service Accounting for Small Business
If you’re looking for a full-service professional accounting firm, TruPoint Accounting & Tax is worth considering. TruPoint Accounting & Tax offers a full suite of accounting services for various industries with services ranging from bookkeeping to business tax services. The company has an A+ rating on BBB.
- Full Accounting System Setup
- Financial System Compilation
- Monthly, Quarterly, & Yearly Bookkeeping
- Quickbooks Setup
- Individual Tax Services
- Business Tax Services
- Royalties & Rights
- Business Development Services
Signing up is comfortable and it will just feel like you’re shopping online! When you go to TruPoint Accounting & Tax website, you’ll only need to choose the service you need and check out. Perfect for those who prefer straightforward vendors without the need to go through business proposals.
Here are some of the prices for its services:
- Bookkeeping I to Bookkeeping V: $180 - $590 per month
- Accounting System Setup & Support: $100
- Training & Support: $75 per hour
- Staff Account: $75 per hour
- LLC Tax Return: $211.51
- Partnership Tax Return: $442.40
- C-Corporation Tax Return: $604.09
- S-Corporation Tax Return: $586.81
Signing up for TruPoint Accounting & Tax is easy and straightforward. If you prefer to have a professional team to jumpstart your accounting processes, then TruPoint Accounting & Tax is one we surely recommend. With the company’s simple pricing plans, you’ll be sure to find the right fit for your business.
Best Accounting Tutorials
If you want to know one thing or two about accounting, then The Accountant Beside You will surely help. The company, led by Lisa London, a Certified Public Accountant, started as an accountant for her local church and became one of the most sought after accounting experts today.
The Accountant Beside You sells services and products that specialize in the following subjects:
- Bookkeeping class for entrepreneurs
- Bookkeeping spreadsheets
- Accounting for Non-Profits
- Accounting books: $9.95
- Bookkeeping spreadsheets: $29.95
- Bookkeeping class: $75
The Accountant Beside You offers high-quality informational videos on how to manage your bookkeeping effectively. If you want to learn directly from an expert, this is the right choice. The Accountant Beside You can also be a good training ground for your store staff to manage your business financials better.
A robust accounting software serves as the key to business growth. Making use of good accounting software will help you maintain and secure your business’ financial health, ensuring your business's growth in the long run. Many people focus on revenue alone without knowing other financial factors affecting the business. By employing a robust accounting software, you’ll be sure to get full visibility over your business financials from top to bottom.
I hope this list helped you identify the best bookkeeping service for your needs. Overall, these are my best picks in terms of accounting software that provides excellent service and support for small businesses. If you’re looking for an affordable and cost-effective bookkeeping solution for your business, these are the ones that have been proven and tested by most startup entrepreneurs like you.
What do you think of the list below? Do you want to add something to the list? Leave us a comment below!
AFFILIATE DISCLOSURE: Some of the links on this page may be affiliate referral links. I will get a commission from the vendor when you make a purchase after clicking them at no added cost to you. As a result, many of them also provide you with a special discount just for using my link. You can go directly to their support if you have any issues with their software or product.