In addition to the cost of QuickBooks Live, you will pay a monthly subscription fee for QuickBooks Online, which ranges from $30 to $200. It also offers catch-up bookkeeping services, which is $140 for each month you’re behind. The rate goes down to $70 per month for months that are almost complete. Answer a few simple questions to receive a customized suggestion for the best online bookkeeping service for your business.

If your monthly average is $50,001 or more, the monthly price for QuickBooks Live is $700. If your monthly average is $10,001-50,000, the monthly price for QuickBooks Live is $500. If your monthly average is $0-10,000 per month, the monthly price for QuickBooks Live is $300. Live Bookkeepers aren’t responsible for errors resulting from incorrect information that you provide, or if you re-open the books by overriding closure after a Live Bookkeeper completes the month-end closure. You can cancel your QuickBooks Live plan or upgrade from Assisted Bookkeeping to Full-Service Bookkeeping at anytime.

1. As your business grows and potentially takes on funding, the accrual-based and advanced bookkeeping services that it offers will be especially useful.
2. Many firms that charge a flat monthly fee also offer tax filing services for an extra fixed annual fee in the range of $750 to $900.
3. If you’re considering an online bookkeeping service for your startup or small business, look no further.

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. If you need help with the platform, working with a Wave Advisor is the easiest way to do so because it offers a team of dedicated bookkeeping professionals to help businesses manage their finances. You can use its monthly financial reports to assist with filing taxes, and it provides a simplified issuance and electronic filing of 1099s for your contractors at an additional fee. QuickBooks is a popular software platform used by small businesses and startups alike. It can be a great option for startup bookkeeping services, depending on the needs of your business. Boasting over 25,000 small businesses served, Bench is an experienced digital bookkeeping solution.

What are the benefits of using an online bookkeeping service?

For businesses on a growth track, the cost of not outsourcing bookkeeping and accounting can be detrimental to the business. This happens when performing the functions in-house interferes with essential business growth activities. Every hour you spend on bookkeeping or accounting is one less hour spent marketing your business, building client relationships, and other business development activities. At some point, the cost to your business in terms of lost growth opportunities becomes immeasurable.

Bookkeeping focuses on recording and organizing financial data, including tasks such as invoicing, billing, payroll and reconciling transactions. Accounting is the interpretation and presentation of that financial data, including aspects such as tax returns, auditing and analyzing performance. As you’ll find with some of the firms in this review, billing methods can vary beyond a monthly fee, such as an hourly, pay-for-performance fee, or rates based on the number of monthly transactions. In all cases, it’s important to crunch the numbers to see what rate or form of billing makes sense for your business.

What is online bookkeeping?

Started by successful startup entrepreneurs, Pilot understands the challenges other startup entrepreneurs face in keeping the books and preparing their businesses for growth. That’s why we chose Pilot as the best accounting firm for startup businesses. Typically, bookkeepers cannot file tax returns on behalf of other companies on their own. Bookkeepers will usually prepare relevant records and tax documents, and then forward this information to an accountant, who will then prepare the actual tax return. With Full-Service Bookkeeping we pair you with a dedicated bookkeeper who will bring your books up to date and then manage your monthly books for you, so you can focus on your business.

How to Choose an Online Bookkeeping Service

Our intuitive platform is designed for business owners, not accountants. So you can easily see all your transactions, track your cash flow, and check out visual financial reporting through your web browser or on your phone. At Bench, we give you a team of professional bookkeepers who do your bookkeeping for you. They automatically import all digital bookkeeping services your business transactions, categorize them for you, and produce monthly and year-end financial reports. Ask your prospective virtual bookkeeping service if they have experience in your industry, and if so, how many clients they have in your industry. You may even ask for a few customer testimonials to be sure that the service is a good fit.

It also will look for candidates who are conversant in your software, such as QuickBooks, Xero, Netsuite, and many other programs. Your bookkeeper has a portfolio of clients they’re working for, but they’re always available for questions or conversations about your finances. Their flexible schedule gives you the communication of a full-time bookkeeper but on a part-time budget. We believe everyone should be able to make financial decisions with confidence. Katherine Haan is a small business owner with nearly two decades of experience helping other business owners increase their incomes.