Fit Small Business

bench vs bookkeeper360

QuickBooks Live is limited in the bookkeeping services it offers, and it was penalized for not offering invoicing and bill pay services. You also don’t have access to full-service payroll or the ability to customize a service plan. Tax and consulting services also aren’t offered, so points were deducted there as well. If you want all of these features—including bill pay, invoicing, full-service payroll, customized services, and tax and consulting services—Bookkeeper360 is an excellent solution. Because of QuickBooks Live’s low-cost pricing structure that is based on your company’s monthly expenses, it received a perfect score for pricing. However, it took a hit in the personal bookkeeper category because it doesn’t provide a phone number to call although you can request a call-back.

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  • We complete your books each month, so you always have accurate financials ready to go.
  • It is the only provider in this guide that offers full tax services that aren’t a separate plan from its bookkeeping service.
  • Unlike Bookkeeper360, Bench pricing is very straightforward and doesn’t depend on the size of your business or the number of transactions.
  • It also issues 1099s for your independent contractors and directly sends updates to your certified public accountant (CPA) during tax season.
  • However, it took a hit in the personal bookkeeper category because it doesn’t provide a phone number to call although you can request a call-back.
  • Depending on the service you select, they may also pay bills, invoice clients, process payroll, and prepare your income taxes.

The columns represent the volume of cash inflows and outflows while the line shows your net cash position. By using this chart, you can assess monthly cash needs based on expected cash inflows and outflows. You can also reach out to your dedicated adviser through the Tasks section, which eliminates the need to email your bookkeeper if you have questions. You can create a task for your bookkeeper, set a due date, and wait for them to get back to you. This feature is available because the communication happens within the Bookkeeper360 interface.

bench vs bookkeeper360

Merritt Bookkeeping: Best Value for Basic Bookkeeping Services

Pilot also has catch-up bookkeeping but pricing isn’t disclosed on its website. We chose Bookkeeper360 because of its outstanding bookkeeping service coupled with its KPI analytics app. The app works with QuickBooks, Xero, and Gusto, which pulls data from these platforms and reports it in its KPI dashboards. The dashboards will show users relevant graphs and figures, making it an on-the-spot reporting tool for managers who want real-time figures. Aside from the app, Bookkeeper360 also offers weekly bookkeeping for businesses that need updated books every week.

What We Offer

If your business is small, they may ask you to pay a set minimum fee every month. If you’re behind on your tax payments or have past years where you didn’t even file a return, you probably feel the pressure mounting. You can also change it per quarter and present it as trailing 12 months, trailing 24 months, or previous calendar years.

QuickBooks Live: Best for QuickBooks users

  • 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.
  • But now, with the advent of virtual bookkeeping solutions like Bench, you’ve got a few different options.
  • The Bookkeeper360 app can also provide cash management insights using illustrative charts.
  • Finally, the Inventory plan is designed on a project basis and can accommodate inventory management, workflow planning, inventory projections and reorder points.

As your business grows and your financial transactions increase, you will need a virtual bookkeeper to do routine tasks, like classifying transactions and reconciling bank accounts. 1-800Accountant is a nationwide virtual accounting firm that will handle all of your accounting needs, from bookkeeping to tax preparation and filing. Although Wave Advisors has many useful features, it doesn’t provide invoicing or bill pay services. If that’s important to you, then we recommend looking into other providers like However, we’re fine with the low scores because its target is Wave users, which are businesses with very basic needs.

In contrast, is best thought of as a full-service online accounting firm, which is why we feel it is better than Bench in this category. Bench does have many attractive features, such as catch-up bookkeeping, unlimited support, and a robust mobile app. And while may lack a mobile app, it more than makes up for it with its secure portal and host of add-on services, such as payroll management. Another benefit of using Bench is the access to unlimited tax advisory and tax strategy planning.

Why We Chose QuickBooks Live

  • 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.
  • You can also view the status of what has been completed, what’s in progress, and what’s still outstanding.
  • However, that pricing is only available to customers with up to roughly $15,000 in monthly expenses.
  • If you’re not sure if Bench is the right platform for you, Bench also offers a risk-free trial before you sign up.
  • With Bench, however, your monthly price will be $249 per month with the Core plan (annual subscription price).
  • The DIY route also makes sense if you have some background in business bookkeeping, and there’s space in your schedule to make bookkeeping a regular task.

This includes payroll, invoicing, the ability to accept online payments, and a Wave Money account for qualified users. For non-US firms, this is clearly less of a benefit, however, Bookkeeping360 says all its advisors are employees, not contractors. The person on the other end of the (on)line is a vetted, certified professional. And whenever bookkeeper360 you have a question you can start a live chat, set up an online meeting, or contact them by phone. The platform’s Tasks also allows you to create a task for your bookkeeper, give it a deadline, and relax while they handle it for you. We picked Pilot for startups because it provides a $200 monthly discount for prerevenue startups.

Stress-free tax season

  • In addition to the cost of QuickBooks Live, you will pay a monthly subscription fee for QuickBooks Online, which ranges from $30 to $200.
  • In fact, its premium price is what’s kept it from the top spot on our list.
  • However, users wished that an Android app were available and that there were support for multiple currencies.
  • Plus, you can communicate with them through the Bench app, so they’re always there if you need advice or have questions.

A virtual bookkeeper handles your bookkeeping remotely, and all communication and storage of financial documents are handled within the bookkeeping software. They will categorize your transactions and prepare financial statements for your review. Depending on the service you select, they may also pay bills, invoice clients, process payroll, and prepare your income taxes. With its powerful mobile app, it is also useful for businesses working remotely.

What are the benefits of using an online bookkeeping service?

bench vs bookkeeper360

Bench Accounting is best for freelancers and small businesses with basic bookkeeping needs, such as providing cash-basis financial statements for tax return preparation. Additionally, 1-800Accountant does not provide invoicing or bill pay services or the ability to customize your plan, so its score was lowered in these areas. Its pricing can be a bit confusing as there is a sliding scale based on not only the accounting basis but also the amount of monthly expenses and the frequency and type of services you need. If you’re seeking straightforward and affordable pricing, then Bench is a good option, although it has its own proprietary accounting software. Our overall best online bookkeeping service is Bench because it provides bookkeeping support at a lower cost than many similar platforms while also offering tax assistance and payroll integration. It has catch-up bookkeeping services—ideal if you have fallen more than two years behind in your bookkeeping.

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