Xendoo offers three subscription plans, which are based on the monthly expenses of your business and the number of bank and credit card accounts that are connected. Custom plans are also available for businesses with more than $125,000 in monthly expenses. 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. Forbes Advisor analyzed 13 online bookkeeping services and considered 15 metrics such as price, features, customer service, ease of use, integrations and service level.
With our resources and expert team, you’ll also get a full understanding of IRS requirements for mixing personal and business transactions based on your corporate entity. If you’re switching from QuickBooks, we’ll work from your closing balances to do your bookkeeping going forward. If you’re not sure whether your closing balances are accurate, we recommend chatting with one of our Onboarding Specialists about Catch Up bookkeeping. QuickBooks, Xero and other do-it-yourself bookkeeping software give you a tool to do your own bookkeeping and taxes. A year end package with everything you need to file comes standard with Bench. With Premium, you get expert tax prep, filing, and year-round tax advisory support.
Would you like your bookkeeping service to prepare your income tax returns?
Having access to robust reports and financial statements allows you to make better decisions for your business leading to an increased ROI from investing in online bookkeeping services. Bookkeeping services can also help small business owners save more through tax preparation and tax filing. Bookkeeper has three standard plans, all billed monthly, and the option for custom pricing based on your needs. For businesses with over $200,000 of monthly expenses, this might offer the type of customization you’d need.
It uses automatic bank statement retrieval to gather your financial data. Merritt lets you review and adjust your reports through its user-friendly interface, so you don’t need to know how to use Quickbooks to access your financial information. Merritt also offers discounted catch-up bookkeeping in case you’ve gotten behind. It doesn’t provide payroll services or file taxes for you, but Merritt bookkeepers will communicate directly with your CPA to keep them up-to-date on your company’s financials. There’s good news for business owners who want to simplify doing their books. Business owners who don’t want the burden of data entry can hire an online bookkeeping service.
What is the golden rule of bookkeeping?
If you have fallen behind on your books and you want to get caught up, Bench might be the best option for you. If you’re using QuickBooks Online, QuickBooks Live can match you with a ProAdvisor to help you manage your books. If you need other services aside from bookkeeping, such as financial planning, tax advice, and payroll, you should consider Bookkeeper.com. It works with businesses using QuickBooks—and while it doesn’t offer many of the advanced tools that other online bookkeeping services provide, it’s easy to use and has a quick setup process.