Keep reading to learn the basics about virtual bookkeeping and what you need to know to get started. Accounting is too vital to the health of your business to risk errors. With a professional helping, you’ll gain peace of mind, along with the gift of time to devote to the parts of running your business that you most enjoy. Bookkeepers can quickly create and send invoices, track payment (or nonpayment), and send payment reminders. If a business uses estimates, bookkeepers can generate those estimates and convert them to invoices when the time comes. Ignite Spot Accounting is best for businesses that want bookkeepers who are certified in popular bookkeeping programs.
Below, we review the best virtual and outsourced accounting services for small-business owners like you. A free live bookkeeping consultation is required before signing up, and services are billed annually. You also have the option of customizing a package that is more specifically tailored to your business needs.
With Bench’s Catch Up Bookkeeping services, a Bench bookkeeper will work through past months of disorganized bookkeeping to bring your accounts up to date. Pilot users said that they appreciate the peace of mind that comes from knowing that their books are being handled accurately and in a timely manner. They also mentioned that the dashboard is user-friendly and that customer service is easily accessible when needed. Merritt Bookkeeping offers a flat rate of $190 per month, with no restriction on the number of monthly transactions or the frequency of the service. The price is the same regardless of your business size or the number of employees. Your first month of service with QuickBooks Live is dedicated to onboarding and cleaning up your books at a cost of $500.
Companies that have a solid understanding of their financials are well-positioned to compete, grow, and respond quickly to a changing market. Unfortunately, tracking and reporting how to run a committee with pictures those financials is a complex process that many organizations struggle with. So they’re likely to have received a formal education or be a Certified Public Accountant (CPA).
Bookkeeping services they provide – HR and payroll management, category tracking, managing inventory, tax prep, and back-office tasks. But if you need more personalized, specific advice on how to start your own virtual bookkeeping business, and make money from home, see our other resources today to get started. If you’re reading this and feel like it’s something you can do, do it. Many virtual bookkeepers start with zero experience and continue to earn up to $80/hr and more. In a nutshell, when a company hires a virtual bookkeeper, they give the bookkeeper (you!) remote access to their bookkeeping software, and financial documents.
Pilot is a financial services firm that provides bookkeeping, tax, and CFO advisory services for startups and small businesses. Its services are built around the needs of startup companies backed by venture capitalists. Merritt Bookkeeping is a cost-effective remote bookkeeping solution that’s available at a flat rate with no restrictions on the number of transactions or the frequency of service. It ranked high among users, with the best scores of all providers listed here, and is praised for its ease of use and accessible customer service.
One of the easiest ways to reach your exact audience is through Facebook advertising. You can promote videos, images, or offers to people by age, interest, behavior, and location — needless to say, it’s the most targeted type of advertising. As a contractor, you’ll be responsible for invoicing for your time and receiving payment according to your policy. The more professional you look online, the more likely potential clients will want to work with you. For example, you can get a customized website for your business with CPA Site Solutions. They work exclusively with CPAs and bookkeepers, and can create a site designed with your logo, images, and content.
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. 1-800Accountant is a nationwide virtual accounting firm that will handle all of your accounting needs, from bookkeeping to tax preparation and filing.
Bookkeeper360 offers a pay-as-you-go plan that costs $125 per hour of on-demand bookkeeping support. It’s an ideal plan for businesses that need minimal monthly support, though if you want more than two hours of help a month, you’ll save more money simply going with a service like inDinero or Bench.co. Bench offers two different pricing plans, which depend on whether you want tax advice and filings included with your bookkeeping. FinancePal provides an all-in-one bookkeeping solution that includes features, such as transaction reconciliation, bill pay, business projections, guidance, catch-up bookkeeping, financial statements and tax filing. It’s also ideal for brand-new businesses because FinancePal can help with entity formation.
Outsourced, virtual bookkeeping can cost as little as $150 per month and as much as $900 (or more) per month. Some companies charge by the number of accounts you need them to manage, while other companies charge based on your company’s monthly expenses. Typically, the lower your expenses (and the fewer your accounting needs), the less you’ll be charged. Ignite Spot Accounting delivers heftier reports than many other cloud accounting providers we checked out for this piece.
Online bookkeeping and accounting typically refers to a more robust service available through the internet. These companies usually offer a service and software package with a monthly and annual reporting structure. This type of bookkeeping and accounting service is a great option for small businesses that do not yet have major financial requirements. Sometimes virtual bookkeeping and accounting can simply be a generic way of saying bookkeeping and accounting services obtained through the internet. Virtual can mean working with a person or persons online, not locally, and mainly through computers and an online network.
Here are three other online accounting service providers worth looking at. However, Merritt can still recommend a solid payroll provider or tax consultant who meets your needs. There are three subscription plans available, depending on the services you need and the frequency. These are just starting prices, as they increase based on the number of monthly expenses. If you are behind on your bookkeeping, you can use Bench’s Catch Up and Retro bookkeeping services to bring your books up to date. This is the “ecosystem” that I use to run my virtual bookkeeping service.
And while you might have ample experience in entrepreneurship, unless you’ve studied accounting professionally, managing your bookkeeping be beyond your skill set. At the end of the day, it’s your business; if you want it to grow, you will need to hire an expert to help you manage your bookkeeping efficiently. To hire a bookkeeping assistant, you will have to get on a call with their customer team and explain your needs and requirements. The team will pair you with a virtual assistant whose skills match your demands.
Fast-growing businesses may also turn to you, as their bookkeeper, to manage payroll and payroll taxes too. So it’s important you make timeliness and accuracy a critical part of your business. Some clients will want you to handle all or most bookkeeping tasks; like invoicing, billing customers, or preparing payroll. You may even need to email invoice copies to a client for approval and have a signature stamp for paying invoices. There are few boundaries to who can become a great virtual bookkeeper. You don’t need a college degree, or a bunch of money or business experience to get started.