Consider hiring online bookkeeping services when managing bookkeeping tasks becomes overwhelming and time-consuming. These services are staffed by professionals who can access your accounting software and ensure that no financial data slips through the cracks.
The best bookkeeping services efficiently handle your tasks while staying within your budget. They seamlessly integrate with your accounting software and offer a dedicated line of communication with a live bookkeeper.
The following companies are ones I have experience with and can recommend.
QuickBooks Live
Based on my experience with QuickBooks Live, I’ve noticed that they often assign newer bookkeepers well-versed in the QuickBooks Online software through the ProAdvisor program. Still, they may not have much experience in accounting.
On a side note, It’s not uncommon for independent bookkeepers to start their careers at QuickBooks Live before venturing on their own.
With QuickBooks Live, you might end up with someone who is relatively new to the field or knows their stuff. It can be a bit of a gamble when dealing with such a large company. Overall, it’s not necessarily a bad service, but having some control over who you’re matched with might be a good idea.
Ignite Spot Accounting and GrothForce
Ignite Spot Accounting made it onto one of the lists I reviewed, and I like their approach. They offer what I believe an outsourced accounting department should provide for small businesses.
Typically, when it comes to an outsourced accounting department, you’ll come across three service tiers:
- Bookkeeping
- Accounting
- Fractional CFO
However, I’m starting to see more companies offering a fourth tier called the Controller role, and Ignite Spot is one of those companies. GrowthForce is another company offering this type of service.
A Bookkeeper handles day-to-day transactions and reconciling accounts, while an Accountant reviews the bookkeeper’s work and focuses on more complex bookkeeping and accounting tasks. The Controller role can assist your in-house bookkeeping team while adding more accuracy and oversight. On the other hand, a Fractional CFO can help with high-level financial planning and business growth.
GrowthForce and Ignite Spot Accounting could be fantastic options depending on your company’s size.
My Recommendation
Depending on your company’s size, I think either GrothForce or Ignite Accounting is a good option. If you’re in the Twin Cities and want someone more local, All in One Accounting or Owl Bookkeeping are my top picks.
Both companies have a similar model to Ignite Spot, and I think they’re fantastic. I did a lot of research on them when I was job hunting, and they stood out.
If you’re open to an online-only service, there are plenty of independent bookkeepers I could recommend. Each of them has its specialties, and if you need to connect with an industry expert, I have an excellent network that I can tap into.
Remember, finding an exemplary bookkeeping service is crucial, and I hope these recommendations assist you in making an informed decision. Good luck in your search, and may you find a reliable partner to handle your bookkeeping needs!
FAQs for Online Bookkeeping Services
What are online bookkeeping services? Online bookkeeping services refer to professional accounting services provided remotely through internet-based platforms. These services offer assistance with financial recordkeeping, data entry, reconciliations, and other bookkeeping tasks.
How do online bookkeeping services work? When you hire an online bookkeeping service, you grant them access to your accounting software or provide them with the necessary financial documents. They then perform various bookkeeping tasks remotely, ensuring accurate recordkeeping and timely financial reporting.
Are online bookkeeping services secure? Reputable online bookkeeping services prioritize the security and confidentiality of your financial data. They employ encryption techniques, secure servers, and strict privacy protocols to protect your sensitive information from unauthorized access or data breaches.
What types of businesses can benefit from online bookkeeping services? Online bookkeeping services are suitable for businesses of all sizes, from startups to established companies. Whether you are a freelancer, small business owner, or a larger organization, these services can streamline your financial management processes.
What tasks can online bookkeeping services handle? Online bookkeeping services can assist with various tasks, including but not limited to general ledger maintenance, accounts payable and receivable management, bank reconciliations, financial statement preparation, payroll processing, and tax filing support.
How do I communicate with my online bookkeeper? Most online bookkeeping services provide a dedicated line of communication with a live bookkeeper. You can typically contact them through email, phone, or a secure messaging platform to discuss any questions, provide additional information, or seek clarification regarding your financial records.
Can online bookkeeping services integrate with my existing accounting software? Many online bookkeeping services offer seamless integration with popular accounting software such as QuickBooks, Xero, or FreshBooks. This allows easy financial data sharing and ensures compatibility with your existing systems.
How much do online bookkeeping services cost? The cost of online bookkeeping services can vary depending on factors such as the complexity of your financial needs, the volume of transactions, and the level of support required. Typically, these services offer different pricing packages or customized plans tailored to your business requirements.
Do online bookkeeping services, such as tax planning or payroll management, provide additional support? Some online bookkeeping services offer additional services like tax planning, payroll processing, and human resources support. It’s essential to inquire about these add-on services and determine if they align with your business needs.
How can I choose the exemplary online bookkeeping service for my business? When selecting an online bookkeeping service, consider their experience, reputation, security measures, pricing, range of services offered, and customer reviews.