Small Business Bookkeeping 2025 Guide

If you’re a small business looking for a personalized accounting service, then Aced Accounting may be for you. Do keep in mind that this business is just too young to have accrued any user reviews, so if you choose them, you’ll receive all the benefits and detriments of being an integral client for a brand new service. But if you’re sick of the impersonal treatment of larger bookkeeping platforms or live in Latin America and are looking for LLC assistance, Aced may be a good fit for you. FreshBooks offers three tiers of standard software integrations, and the additional option for custom pricing.

Cash-Based Accounting

Our team of experienced accounting experts can help your business manage finances, reduce costs, and improve profits by offering customized accounting solutions that are tailored to your specific needs as a company. We would love the opportunity to talk with you about what accounting services may be right for your business. Schedule a free consultation that will help determine the best accounting service solution to meet your specific needs as a company. While these features span the gamut of providing services, not all accounting teams offer all services and not all are the right fit for your individual business.

• Note that Wave Advisors didn’t receive any user reviews, so this wasn’t factored into our overall score.
• Its main flaw is the cost of its services, which starts at $399 monthly for cash-based accounting and $549 a month for accrual-based accounting and increases quickly for firms with over $20,000 in monthly expenses.
• This ensures your bookkeeping team can work efficiently, keep your books up to date, and help you get the most out of the service.
• 1-800Accountant is a nationwide virtual accounting firm that will handle all of your accounting needs, from bookkeeping to tax preparation and filing.

See Bench’s features in action

Note that Wave Advisors didn’t receive any user reviews, so this wasn’t factored into our overall score. In addition, you’ll need a subscription to Wave Accounting, which is free for one user and $16 a month for unlimited users. To learn more, read our review of Wave Accounting, which is linked above. We were unable to find any user reviews for Block Advisors, so the overall score was calculated without user reviews. The Fit Small Business editorial policy is rooted in the company’s mission, which is to deliver the best answers to people’s questions.

Tax Relief Companies

Depending on the service you select, they may also pay bills, invoice clients, process payroll, and prepare your income taxes. The best online bookkeeping service should offer a wide range of bookkeeping solutions, including catch-up bookkeeping, invoicing, bill pay, bank reconciliation, payroll, and tax filing. Pilot’s pricing scored very low because it provides only one starting price for all companies and doesn’t share any information on how that price might increase based on the size of the business.

Yes, businesses need bookkeeping services to ensure their financial situation is healthy—whether you have an in-house bookkeeper or an online service comes down to your business’s needs and preference. Getting the most bang for your buck means that you should be happy with the services you’re getting in return for your monthly—or annual—dues. Don’t shy toward or away from any of the cheapest or most expensive options. If you’re looking to give your business strong dedicated support, consider an option such as Ignite Spot Accounting, which not only offers dedicated services, but its highest plan is like bringing a CFO into your business. Pilot, our top pick for startups, also offers the optional CFO service, which is an easy way to keep your financials buttoned up year-round. Bookkeeper.com’s intermediate plan, Small Business Plus, is what you’ll want to consider if you’re looking for strong levels of support and a packed feature list.

Online bookkeeping services are a hybrid of bookkeeping software and professional accounting. You get the benefit of the assistance of a pro bookkeeper with the flexibility of managing what you want to manage. We conducted in-depth research and evaluation of each online bookkeeping service in this guide — comparing feature sets, price levels and limitations.

Here’s what you need to know when considering an online bookkeeping service for your small business. Xendoo does your business’ bookkeeping every week, and you can access financial reports via the customer portal. You’ll get the basic financial statements and other relevant data visualization, such as profit and revenue trend graphs and top expenses.

The bookkeeper enters relevant data such as accounting and bookkeeping services date, price, quantity and sales tax (if applicable). When this is done in the accounting software, the invoice is created, and a journal entry is made, debiting the cash or accounts receivable account while crediting the sales account. Analytix uses proprietary technology and systems designed to expedite project delivery processes and ensure accuracy across accounting and bookkeeping services. This includes traditional and outsourcing accounting and bookkeeping functions, as well as online and cloud-based accounting and bookkeeping practices. Your virtual bookkeeper will categorize all of your financial transactions into the appropriate account, which includes labeling income, expenses, assets, liabilities, and equity.

Our services are customized to our client companies rather than being a one-size-fits-all operation customized to no one. Wave Advisors didn’t score well in terms of customer service, as it took a hit for not providing a phone number to call and not offering unlimited meetings. It also lacks a mobile app, and its bookkeeping services are limited, with the inability to pay bills or invoice customers. While Wave Advisors provides payroll coaching, it doesn’t offer any customized services. Brainy Advisors and Bookkeeper360 are both good options if customized services are important to your business. The Essential plan ($249 a month if billed annually or $299 billed monthly) focuses on bookkeeping only, giving you access to a dedicated team that performs monthly bookkeeping services.

How A Bookkeeping Service Benefits Your Business

It also lacks a mobile app and unlimited meetings, so Bench is the better option in this case. However, with Block Advisors, you’ll be assigned a dedicated bookkeeper who will provide access to video meetings, and there is also a phone number to call if you need support. We selected Merritt Bookkeeping as one of the best online bookkeeping services because it ranked high among users, with the best user review scores of all providers listed here. What’s more, it is praised for its ease of use and accessible customer service. Virtual and outsourced bookkeeping and accounting services are a happy medium between do-it-yourself software and pricey in-house bookkeeping. If that description fits what you’re looking for, one of the nine best virtual bookkeeping providers can save you time, money, and stress.

Keep in mind as well that you are only able to get a quote from FinancePal if you provide an email and a phone number. Having previously reviewed companies that utilize high-pressure call tactics to pressure customers into unneeded extras, we are suspicious of any company whose only viable mode of price inquiry includes a phone call. This suspicion is weakly corroborated by the one worker review we could find of FinancePal, which cited a high-pressure work environment.

However, Merritt can still recommend a solid payroll provider or tax consultant who meets your needs. Unlike most other outsourced bookkeepers on our list, Merritt Bookkeeping doesn’t offer any in-house add-ons for payroll and tax services. If you were hoping for a one-stop shop that can tackle all of your financial needs, Merritt might not be the right choice for you. The financial services sector is witnessing a surge in demand for virtual bookkeeping expertise as businesses grapple with a persistent talent shortage in accounting.