Bookkeeping services for small business: What you need to know

Kelly is an SMB Editor specializing in starting and marketing new ventures. Before joining the team, she was a Content Producer at Fit Small Business where she served as an editor and strategist covering small business marketing content. She is a former Google Tech Entrepreneur and she holds an MSc in International Marketing from Edinburgh Napier University.

Both kinds of features combined to account for 60% of our total score. Note, however, that the lowest-tier Essential plan uses proprietary software and lacks integrations with QuickBooks Online or NetSuite. Considering the price point and more advanced CFO-level features you can add to your plan, inDinero is best suited for medium-sized and quickly growing businesses.

Zoho Books

After you determine the level of service you need, you’ll be able to find a fitting company. Decide whether you wish to outsource everything related to bookkeeping or https://accounting-services.net/what-is-the-difference-between-bookkeeping-and/ accounting, or whether you prefer to handle some level of your finances in-house. We believe everyone should be able to make financial decisions with confidence.

• Finally, they generate the reports you need so you’re ready to prepare your taxes or hand them off to your accountant.
• When comparing services, ensure you’re pricing out all the features you need, including add-on services like tax prep, payroll and HR.
• Bookkeepers are in charge of maintaining your books closely day in and day out.
• Before you decide to hire a bookkeeper, ask what accounting software they use.
• It also will look for candidates who are conversant in your software, such as QuickBooks, Xero, Netsuite, and many other programs.
• Your team of small business experts imports bank statements and prepares financial statements every month.

EcomBalance handles your bookkeeping and sends you a Profit and Loss Statement, Balance Sheet, and Cash Flow Statement by the 15th of each month. EcomBalance also has a sister company, AccountsBalance, that caters to agencies, software companies, coaches, and other online companies. This list of top bookkeeping services makes up the top players in the industry as well as smaller, niche focused remote bookkeeping services that may appeal more to different types of business. After putting together a list of 30+ remote Smart Accounting Practices for Independent Contractors, we went through each, looked at the factors above, and narrowed it down to the top 10. A bookkeeper is someone that solely handles your books – or records your transactions. An accountant analyzes those reports and can provide financial advice (e.g. tax advice).

Average Rating from Top 3 Software Directories

It’s missing some features that competitors offer, and it includes some language and concepts that rivals keep in the background, but it’s a solid, inexpensive solution. For small businesses with straightforward accounting needs, 1-800Accountant offers a solid basic plan for a flat fee of $129 a month, making it our pick as the best accounting firm for basic plans. Internal controls are processes that protect your business from fraud or theft and ensure proper money management.