Best Online Bookkeeping Services for Small Businesses in 2022

bookkeeper services for small business

There are a few important distinctions between the two roles. Arguably the most important bookkeeping function of all is the process of invoicing customers and collecting cash receipts. A good bookkeeper will help build a process to ensure that invoices not only get out on time and that nothing slips through the cracks, but that cash is collected in a timely manner. For example, let’s say a marketing company just signed on a new client and are now working with them to lay out and implement a strategic plan for their products. A bookkeeper may help the company generate invoices, collect customer payments, post the related deposits and enter vendor invoices related to the project.

  • This includes BenchRetro, which helps with businesses facing issues such as bankruptcy or troubles with the IRS.
  • Its industry-specific reports include burn reports for startups and inventory management for ecommerce companies and are available with the Select or Plus plans.
  • For an additional fee, Bench offers catch-up bookkeeping if you’re behind on your financials.
  • Additionally, an accountant may oversee a bookkeeper’s work.

If you hire a freelance bookkeeper, you could still run into issues with poor communication, them juggling you and a handful of other clients, among other possible complications. Some business owners are able to make this work, but it still takes effort. Finally provides you with access to each of your accounts under one unique login and password that you setup after signing aboard. You will have the visibility to see across accounts for a compiled cash balance as well as where and how much you’re spending.

How Did We Choose These 10 Remote Bookkeeping Services for Small Business?

Mark Calatrava is an accounting expert for Fit Small Business. If you’re using FreshBooks accounting software, a solid overall pick for most small businesses is Bench and it seamlessly integrates with FreshBooks. Sunrise, by Lendio, used to be called Billy until it was acquired. It’s known for its easy-to-use interface and its simplification of accounting jargon. Sunrise is a good solution for sole proprietors and freelancers without employees, and it’s good for invoicing customers, income and expense tracking, and basic reporting capabilities. Flat rate of $190 per month is more affordable than other bookkeeping services.

Are online bookkeeping services secure?

As with most types of software, the best online bookkeeping services offer many levels of security. When choosing this type of service, you want to look for security features like documentation that shows frequent security updates and patches, intrusion detection, two-factor authentication (2FA) or multifactor authentication (MFA), data encryption, privacy protection and the monitoring of user activities.

You will need an advanced accountant to help you put together the financial intelligence to help you make sound business decisions. The first thing you need to do is determine your company’s needs. Just about every small business requires a basic form of bookkeeping in the beginning. In this initial stage of establishing your business, you will be primarily concerned with smaller responsibilities like recording transactions and paying bills.

What to expect from Live Bookkeeping

Effective and Accurate – We provide the most accurate and effective accounting and auditing services to our clients. We offer an unprecedented level of quality for a fixed monthly fee, allowing companies to focus on growing their revenue while we handle bookkeeping services all the daily, monthly, and annual financial work. Full-time employees also tend to be more involved with the company for which they work, and you should receive greater long-term benefit from working with someone who knows your business thoroughly.

Full-Service Bookkeeping doesn’t include sending invoices, paying bills, or management of inventory, accounts receivable, or accounts payable. The service doesn’t include financial advisory services, tax advice, facilitating the filing of income or sales tax returns, creating or sending 1099s, or management of payroll.

Who it’s best for:

Bookkeeper360 integrates with third-party tools such as bill.com, Gusto, Stripe, Shopify, Xero, Brex, Square, Divvy and ADP. These integrations make it easy to track your bookkeeping and accounting data in one place. It also offers full-service bookkeeping, meaning that its team will do the bookkeeping for you.

bookkeeper services for small business