It is important for small businesses to have a strong grasp over it finances to reach a higher level and expand further. Hiring professional Online bookkeeping services will be essential to fulfill such objectives. The experienced online accounting firm will perform payroll processing, account reconciliation, tax, monthly statement, tax preparation and cash flow management. They also offer extra accounting function layers for accommodating demands of business growth.
Top 5 Online Accounting Firms
1. 1-800Accountant:
This firm offers services to small businesses having straightforward accounting needs. It charge flat monthly fee for its basic plans irrespective of transaction numbers made. It has dedicated mobile app, local accountant, and affordable tax preparation/filing services. However, base service is limited and cost might increase significantly on deriving add-on services. Two Price Waterhouse-based members had established this firm in 1999.
It offers digital technology convenience combined with personal support offered by nationwide expert team. It has engaged CPAs (certified public accountants), tax professionals, enrolled agents and experts. Clients are provided with local bookkeeper or accountant to manage their books. Detailed monthly reports and dedicated accountant can be derived for a small amount.
It is also possible to generate and send invoices, prepare financial reports, etc. To ensure synchronized transaction reporting, bookkeeper establishes account and connects credit accounts and banks.
2. inDinero:
Clients are offered easy to use platform, a variety of accounting services, access to in-house specialists along with dedicated customer support. They also enjoy amazing customer reviews and offer mobile app, easy to use dashboard. They provide small businesses with all-in-one accounting services. Clients can access easily team of financial experts and staff accountants.
Base plan offered is a bit costly when compared to other firms. However, all-in-one accounting services can help small businesses to save money and time. Essential plan includes P&L, balance sheet generation, easy invoicing, tracking accounts payable/receivable, reporting, employee reimbursements, monthly reconciliations, document management and financial reporting. Dedicated account manager is a big plus.
Startups as well as small businesses using cash basis accounting can benefit from ‘Essential plan’. For accrual basis accounting, ‘Growth plan’ is the best choice.
3. Bench Accounting:
Online bookkeeping services offered by this company suits those businesses having straightforward financials and eager to outsource bookkeeping tasks. They launched in 2012 with the purpose to serve small businesses with both accrual and cash basis reporting. They are presently the largest bookkeeping service catering to 11,000+ business owners. Although considered a virtual service, they customer client experiences.
This is achieved by providing them with dedicated in-house professional team. They categorize all transactions, generate monthly financial statements and reconcile bank accounts.
4. Paro:
They suit businesses preferring direct business relationship to fulfill their accounting and financial needs. Traditionally, it is not considered to be an accounting firm. Rather, they operate as marketplace, trying to bring businesses together with top-class accounting and finance experts who work directly with the clients. Multi-step vetting process is applied to review applications received.
They also have huge database of qualified financial analysts, CPAs, finance vice presidents, internal auditors and bookkeepers. They also have gained excellent customer reviews for providing top quality services.
5. Pilot:
Ex startup founders have established this company to help small entrepreneurs with their accounting needs. They are aware of the challenges faced by other businesses, help them to overcome it and grow. Handholding starts from the time client registers with this company. Dedicated bookkeeper is assigned as account manager.
He/she is point of contact who integrates existing processes and software with QuickBooks. Clients can derive P&L, balance sheet and cash flow statements effortlessly. There are also other services offered.
Select the best bookkeeping services
Do not rush with the selection process. Rather, you need to compare different Online Accounting Firms, the features that they offer and select one with great care.
