The 5 Best Online Accounting Services for Small Businesses

Nearly 50% of small businesses fail after their fifth year. 

I certainly wouldn’t want to be one of those and I’m assuming that you don’t either. 

One of the top reasons that small business go under is because they don’t properly keep track of finances.

Keep reading for the best online accounting services that could play a major role in not only keeping your small business from going under but helping it thrive. 

Criteria for the Best Online Accounting Services

When looking for online accounting services, you’ll want to keep these criteria in mind. 

• Cost – You don’t want to go broke paying for accounting software, so something affordable is an absolute requirement!
• Features – The features you need will vary based on the type of business you have. Do you want to make employee payments or pay bills automatically?
• Customer service – Technology is confusing and doesn’t always work as it should. Having quality customer service can save you a lot of time and money in the long run.
• Tax services – Having a service that integrates your business tax tasks (try saying that 5 times) is incredibly beneficial in making sure you do everything by the books, and should the IRS roll around, you’ve got nothing to worry about.
• Ease of use – Your accounting software shouldn’t take ages to set up and get the hang of. Something intuitive and with a friendly interface should do the trick.
• Cash integration – If your business uses cash, make sure your online accounting software can integrate this.

5 of the Best Online Account Services

QuickBooks Desktop: If you’re not looking to hire virtual help, but instead want a place to get everything organized, opt for the online accounting software QuickBooks Desktop. This bookkeeping software is an industry-standard that will allow you to keep all of your bookkeeping information stored securely in one place. If you decide later on that you want to outsource accounting services, most of the options below will be able to integrate with QuickBooks.

Prices start at $44 per month per user.

Bookkeeper.com: Bookkeeper is an all-in-one that manages everything for you by using Quickbooks software. You’re able to connect bank accounts and credit cards so that everything is visible to the certified accountants. You’re able to pay vendors via check through Bookkeeper.

All of this integration does come at a price, starting at about $275/month.

Bench: If you’re a small business that already has a way to manage payroll and bills, but you’re just looking to keep track of your overall finances, Bench might be the perfect option for you. Their at-a-glance visual report will keep you in the loop while professional bookkeepers manage the nitty-gritty.

They can also help you file taxes at the end of each year. Prices start at $115/month.

Bookkeeper 360: If your small business already uses Xero, Bookkeeper 360 is able to work with you to get your finances in order. They offer four different plans to help you meet whatever your accounting needs may be.

Their hourly and project plan starts with a retainer of $1,000 up to their virtual CFO plan at $1,149 per month.

Keep Researching

With so many options on the market, I know that it’s confusing but don’t let accounting add to your stress load.

Keep reading and researching to see what the best software options are for you.