For cash-based businesses, monthly prices start at $399 for monthly service and $549 for weekly service. For accrual-based businesses, monthly prices start at $549 for monthly service and $749 for weekly service. You can also opt for the pay-as-you-go service, which starts at $49 a month plus $125 per hour for support. Upon enrollment, you’ll be assigned a dedicated bookkeeper who will work with you to figure out the best strategy for your business. That includes determining the frequency of the service and deciding whether you require services in addition to bookkeeping, such as payroll and HR or tax filing.
They will manage your books, send invoices, process bills and track your cash flow. They will also generate financial reports, explain these reports to you and provide expert insights on how you can improve your financial position. QuickBooks Live is an online bookkeeping service offered exclusively for QuickBooks Online users.
Director of Tax and Business Services
You’ll get the basic financial statements and other relevant data visualization, such as profit and revenue trend graphs and top expenses. If you get its tax services, Xendoo will also handle your filing for state and federal returns. Bookkeeper360 integrates with third-party tools, such as Bill, Gusto, Stripe, Shopify, Xero, Brex, Square, Divvy and ADP. These integrations make it easy to track your bookkeeping and accounting data in one place.
She has owned Check Yourself, a bookkeeping and payroll service that specializes in small business, for over twenty years. She holds a Bachelor’s degree from UCLA and has served on the Board of the National Association of Women Business Owners. She also regularly writes about business for various consumer publications. It can update your books even if they’re way behind, but you have to tell your dedicated bookkeeper during the first meeting so that they know where to start.
Best for Bookkeeping Services By the Hour
We use product data, strategic methodologies and expert insights to inform all of our content and guide you in making the best decisions for your business journey. We don’t review advisor listings and we don’t recommend or guarantee the service provided by any one advisor, so make sure you check them out yourself and get comfortable with them yourself. Bookkeeper360 specialises in working with some of those banks; they can help with setting up bank feeds, and are knowledgeable about accessing bank loans and streamlining payments through Xero. QuickBooks Live and Bookkeeper360 both integrate with QuickBooks Online, which then gives them access to the QuickBooks App Store, which provides hundreds of useful integrations. If you choose to integrate Bookkeeper360 with Xero instead of QuickBooks, you’ll have access to Xero integrations, which are far fewer than QuickBooks.
When it comes to its payroll services, on the other hand, bookkeeper360 bases pricing on the number of employees you have. If you have one employee, it will cost $45 per month; if you have 20 employees, it will cost $159 per month. Bookkeeper360 provides a sliding scale tool on its website for this cost. If you have more than 30 employees, you have to contact them directly to determine the cost of its payroll services.
Client Advisor
A small business can likely do all its own bookkeeping using accounting software. Many of the operations are automated in the software, making it easy to get accurate debits and credits entered. With QuickBooks Live, you can meet with your bookkeeper via one-way video chat, so you can see them but they can’t see you. Like Bookkeeper360, QuickBooks Live varies its subscription price depending on the amount of monthly expenses.
- The cash runway, also called cash burn rate, shows the estimated number of months until cash runs out.
- The payroll team will process payroll for both employees and contractors and provide full-service support with health benefits, direct deposit setup, W-2s, and 1099s.
- Forbes Advisor selected these services based on their service options, pricing, customer service, reputation and more.
- In cost and management accounting, operating expenses are mostly fixed costs and this cost behavior is evident in the sample chart above.
- There’s no set amount of time per month that you can meet with your bookkeeper, but you can only schedule one appointment at a time.
FinancePal is best for small businesses that need bookkeeping assistance, including catch-up bookkeeping, entity formation and tax filing. Bookkeeper360 is best for businesses that occasionally need bookkeeping services as well as those that want integrations with third-party tools. We see QuickBooks Live takes the lead in customer support when we compare QuickBooks Live and Bookkeeper360. Both have similar approaches when it comes to working with your bookkeeper, but QuickBooks Live offers more ways to communicate and a transparent view of the tasks that have been completed. Under cash-basis accounting, revenues and expenses are recorded when cash is paid or received. Meanwhile, accrual accounting records revenue and expenses when earned or incurred.
