Online Bookkeeping Services for Small Businesses

If you’re too busy and approaching tax deadlines, you’ll be thankful that you took the time to keep your records nice and tidy so that you save time by knowing exactly where to look. Trial balance is how you test to be sure your books are in balance before pulling together all of the key information for the financial reports and closing the books for the accounting period. If you have a small business and you have employees, then payroll is the way you pay your employees.

• It’s also a good idea to browse through the accounting software’s settings.
• Reconciliation involves regularly cross-referencing your business books against your bank statements to check that the transactions and balances match – and identifying the reasons if they don’t.
• We are happy to provide this support as an additional service for business owners.

All plans come with onboarding, a dedicated bookkeeper and account manager, reconciliation at month-end, balance sheet, P&L, statement of cash flows and a portal with document storage. Higher-tiered plans unlock more transactions and a more frequent service level. Bookkeeper360 integrates online bookkeeping 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.

Merritt Bookkeeping: Best for businesses on a budget

As a DIY-er, you should make a plan to sit down and commit some time on a monthly basis to keeping your books in order. Most of the time, watching and reviewing your expenses can be a monthly task. But if you have any new expenses, or variable expenses, you’ll want to keep a closer eye on them to make sure they’re aligned with expectations. The reason it’s so important to keep these records is simple.

Tax preparation, planning, and filing services can be added to any plan for an additional fee. Use bookkeeping services or software to track trends you’re seeing from month to month, and think about how you’ll handle the upcoming month from a financial perspective. You can also pay special attention to any new projects, campaigns, or operational changes to see if they’re impacting your sales, your expenses, or both. This will help the business owner keep their expenses together. When you connect your bank and credit card, your professional bookkeeping team gets access to your transaction history and your account statements — nothing more, as we respect your financial data. Cloud accounting has become a cornerstone in the accounting and finance world. While cloud services may have been vulnerable years ago, technology has made leaps in the security available to cloud-based products.

Bonus Tip: Stay Updated with Industry Trends for Bookkeepers

Annual subscriptions start at $125 monthly for tax preparation, and if you need help setting up your for-profit or nonprofit business, there are entity formation services for an additional fee. Bookkeeping services start at $375 monthly and are only available with the Enterprise plan, which also includes priority support and access to financial reports. Merritt Bookkeeping is a cost-effective remote bookkeeping solution that’s available at a flat rate with no restrictions on the number of transactions or the frequency of service. Its 100% money-back guarantee is also an attractive feature.

Our intelligent transaction center uses artificial intelligence & machine learning technology. We will automatically categorize your expenses based on pattern recognition. There are times that we won’t understand a transaction, but you only have to tell us once. Once we have those details our software learns how to categorize & does so automatically.

From categorizing transactions to reconciling your accounts, certified bookkeepers make sure everything’s right.

A digital app lets you keep your incomings, outgoings and everything in between properly organised which makes it simpler to manage your financial records. Late-paying customers is never a good thing and it can have a negative impact on your cash flow. Make sure you pay attention to when your receivables are due and don’t waste time when they’re overdue – act right away.