virtual bookkeeping

As your business grows, your income and expenses become more complex. Bookkeeping tasks for a startup might initially require a simple spreadsheet. However, growing businesses must eventually consider outsourcing bookkeeping and accounting services. 

Online bookkeeping services can save your business time and money. Rather than hiring a full-time employee or learning complicated bookkeeping software, you can outsource bookkeeping to industry experts.

Virtual bookkeeping offers up-to-date account reconciliations and accurate financial reporting. You can gain peace of mind and prepare for tax time. You’ll also enjoy real-time assistance from your dedicated accountant.

This article will explain what you can expect from an online bookkeeper. We’ll also give our recommendations on the best virtual bookkeeping services.

What Online Bookkeeping Services Do For Business Owners

Virtual Bookkeeping Services

Basic bookkeeping services typically involve a range of services, including the following: 

  • Transaction categorization

  • Bank reconciliations

  • Financial statements

  • Accounting software integration

    • Many online bookkeepers offer add-ons to their core services. Depending on the provider, the following services could represent an extra monthly charge.

  • Importing bank statements

  • Chart of account management

  • Monitoring monthly expenses

  • Catch-up bookkeeping

  • Business tax services

  • Audit Defense

  • Tax Preparation and tax filing services

  • Tax Planning

  • Business Tax Advice

  • Back-office administrative assistance

  • Payroll services

  • CFO services

    • 7 Best Online Bookkeeping Services for Small Businesses and Startups

    Xendoo

    Website: Xendoo Bookkeeping Services

    Services Offered

  • Weekly bookkeeping

  • Expense reconciliation

  • Monthly financial statements, including: 

  • Balance sheet

  • Profit and loss statement

  • Monthly profit and revenue trend graphs

  • Monthly expense monitoring

  • Dedicated bookkeepers

  • Add-on services (available for an additional monthly fee):

  • Catch-up bookkeeping

  • Tax planning

  • Tax preparation and filing services

  • CFO services

    • Pros & Cons

    Pros

  • Free consultation

  • Xendoo offers both a desktop platform and a mobile app

  • Xendoo integrates with Quickbooks, Xero, Stripe, Shopify, Amazon, and other third-party tools

  • Customer portals automatically import credit card and bank statements

    • Cons

  • Not all pricing plans offer accrual-basis bookkeeping 

  • Customers have a limited number of third-party integrations available (depending on pricing tier)

  • Tax services require an add-on subscription

  • No payroll services

    • Best for Which Type of Business?

    Small business owners and entrepreneurs with e-commerce storefronts or service-based sales pages can benefit from third-party integrations.

    Pricing

    Xendoo offers three standard pricing tiers. Large business owners can request a custom pricing plan consultation.

  • Essential Plan: $395 per month

  • Growth Plan: $695 per month

  • Scale Plan: $995/month

    • Add-on services:

  • Tax guidance and return preparation: $1,200 per year

  • Catch-up bookkeeping: $295 per month of cleanup

  • Fractional CFO services: $1,500 per month

    • Pilot

    Website: Pilot Bookkeeping Services

    Services Offered

  • Dedicated bookkeeper

  • Automatic bank account imports

  • Transaction reconciliations

  • Monthly income and expense trend reports

  • Monthly financial statements, including:

  • Profit and loss statement

  • Balance sheet

  • Cash flows statement

  • Financial reporting for startups

  • Add-on services (available for an additional monthly fee):

  • Business tax filings and tax advice

  • 1099 support

  • CFO services

  • R&D Tax Credit calculations

    • Pros & Cons

    Pros

  • Pilot integrates with QuickBooks, Stripe, Square, Shopify, and other third-party tools

  • Pre-revenue startups can qualify for a discounted monthly pricing plan

  • Customer portals provide real-time reporting and monthly financial trends

  • Pilot offers specialized financial services to help businesses grow

    • Cons

  • No support for cash-basis bookkeeping

  • No personal income tax return services

  • Pilot charges a mandatory onboarding fee for new customers

  • Add-on tax services include limited business filings, with extra fees for additional returns

  • Monthly plan prices increase as your business grows

    • Best for Which Type of Business?

    Startups in pre-revenue or early growth stages can benefit from industry-specific financial expertise.

    Pricing

    Pilot offers two standard pricing tiers. Large business owners can request a custom pricing plan consultation.

  • Starter Plan (for pre-revenue companies): $349-$849 per month

  • Core Plan (for profitable, growing companies): $499-$999 per month

    • Add-on services:

  • Basic business tax return preparation: $2,450-$5,400 per year

  • CFO services: $1,750-$5,250 per month

    • Merritt Bookkeeping

    Website: Merritt Bookkeeping Services

    Services Offered

  • Monthly financial reports, including:

  • Profit and loss statement

  • Balance sheet

  • Cash flows statement

  • Forecasting report

  • Profit margins report

  • Transaction reconciliation and categorization in QuickBooks

  • Automatic bank statement collection

  • Coordination with your CPA during tax season

  • Catch-up bookkeeping (add-on service)

    • Pros & Cons

    Pros

  • Merritt maintains your bookkeeping in QuickBooks and delivers summarized reports

  • Customers get a 90-day money-back guarantee

  • Pricing plans use flat monthly fees with no extra charges

    • Cons

  • No support for accrual basis bookkeeping

  • No payroll or HR services available

  • No tax services, such as tax planning or return preparation

  • Merritt only accepts a limited number of new clients per month, and customers must request an opening for bookkeeping services 

    • Best for Which Type of Business?

    Small businesses with low budgets for outsourced services can benefit from flat monthly fees.

    Pricing

  • Virtual bookkeeping services: $250 per month (flat fee)

  • Catch-up bookkeeping: $100-$200 per month of catch-up, depending on the level of cleanup needed

    • Decimal

    Website: Decimal Bookkeeping Services

    Services Offered

  • Dedicated bookkeeping team

  • Transaction categorization

  • Daily expense reconciliation

  • Bill & invoice payment matching

  • Real-time financial data

  • Industry-specific reports and schedules:

  • Loan reconciliation

  • Inventory & COGS reconciliation

  • Deferred revenue & prepaid expenses

  • Class & location tracking

  • Add-on services (available for an additional monthly fee):

  • Invoicing & bill pay

  • Profitability reporting

  • Revenue recognition calculations

  • Monthly expense management

  • Inventory management

  • Job costing schedules

  • 1099 support

  • Payroll services

  • Third-party provider add-on services:

  • Tax services, such as tax planning, consulting, and tax return preparation

  • CFO services

  • Technology consulting

    • Pros & Cons

    Pros

  • Free consultation

  • Decimal bookkeeping integrates with Quickbooks, Shopify, and other third-party tools

  • Customers can choose cash- or accrual-basis accounting

  • Decimal offers add-on services for advanced financial management and specialized industries

    • Cons

  • Prices are quote-based, and new customers can’t review pricing before contacting sales

  • Decimal charges an onboarding fee for all new customers

  • Add-on tax filing and payroll services require a separate third-party provider

    • Best for Which Type of Business?

    Project-based, manufacturing, and contract businesses can benefit from specialized, industry-specific reports.

    Pricing

    Decimal offers two pricing tiers.

  • Plus Plan

  • Premium Plan

    • New customers must schedule a consultation with the sales team to learn monthly pricing.

    Bookkeeper 360

    Website: Bookkeeper360 Bookkeeping Services

    Services Offered

  • Dedicated accountant

  • Monthly bookkeeping

  • Financial reports

  • Transaction reconciliations

  • Revenue and profitability tracking

  • Cash flow management

  • Payroll analytics

  • Add-on services (available for an additional monthly fee):

  • CFO services

  • Payroll & HR support

  • Tax planning and return preparation

  • Back-office assistance, such as invoicing, bill pay, and inventory management

  • Catch-up bookkeeping services

    • Pros & Cons

    Pros

  • Free trial

  • Bookkeeper360 offers both a desktop platform and a mobile app

  • Bookkeeper 360 integrates with Quickbooks, Xero, and Gusto

  • Customers can choose cash- or accrual-basis bookkeeping

    • Cons

  • The pay-as-you-go pricing plan includes limited features, with extra charges for dedicated support

  • Advanced reporting and analysis require additional fees

  • Add-on payroll, sales tax, and back-office services require a separate third-party provider

    • Best for Which Type of Business?

    Businesses that need basic bookkeeping and accounting services can benefit from access to Bookkeeper360’s customer portal with trend reports. 

    Pricing

    Bookkeeper360 offers three standard pricing tiers. Large business owners can request a quote for fractional CFO services.

  • Pay As You Go Plan: $49 per month + $125 per hour of support

  • Bookkeeping Plan: $399-$999 per month, depending on monthly business expense volume

  • Controller Plan: $1,149-$1,799 per month, depending on monthly business expense volume

    • Add-on services:

  • Bookkeeping setup and catch-up bookkeeping: $1,000+

  • Business tax preparation and tax planning: $1,000+

  • Individual tax returns: $350+

  • Payroll services: $200+ per month

  • Sales tax services: $125 per month

  • CFO services: $1,500+ per month

    • QuickBooks Live

    Website: QuickBooks Live Bookkeeping Services

    Services Offered

  • Dedicated bookkeeper

  • Transaction categorization

  • Account reconciliations

  • Monthly financial reports, including:

    Profit and loss statement

    Balance sheet

  • Trial balance preparation

  • Automatic imports from credit card and bank accounts

  • Add-on services (available for an additional monthly fee):

  • Payroll services

  • Catch-up bookkeeping

    • Pros & Cons

    Pros
  • Free consultation
  • QuickBooks Live offers both a desktop platform and a mobile app
  • Accuracy guarantee
  • QuickBooks Live fully integrates with QuickBooks Online
    • Cons
  • QuickBooks Live charges a mandatory onboarding fee for new customers
  • Payroll services require an add-on subscription
  • No tax services, such as tax planning or return preparation
  • Unclear pricing tiers for advanced bookkeeping and add-on services

    • Best for Which Type of Business?

    Business owners who have used QuickBooks Online services and want additional live assistance with monthly financial reporting can benefit from QuickBooks integration.

    Pricing

    QuickBooks Live offers three standard pricing tiers. Monthly pricing depends on monthly business expense volume.

  • Tier 1: $300 per month
  • Tier 2: $500 per month
  • Tier 3: $700 per month

    • 1-800Accountant

    Website: 1-800Accountant Bookkeeping Services

    Services Offered

  • Dedicated accountant with industry expertise
  • Expense management
  • Transaction reconciliations
  • Automatic bank account imports
  • Receipt storage
  • Mileage tracking
  • Financial reporting
  • Invoicing and payment processing
  • Year-round tax advice and quarterly tax reviews
  • Proactive tax planning
  • Dedicated financial planning
  • Personal tax return preparation
  • Business tax return preparation
  • Tax filing services
  • Audit defense
  • Entity formation services
  • Catch-up bookkeeping
  • Payroll support (add-on service)

    • Pros & Cons

    Pros
  • Free consultation
  • 1-800Accountant offers a secure online customer portal and a mobile app
  • Accountants have industry- and state-specific expertise 
  • Monthly plans include tax preparation services, financial planning, and tax advisory
  • Flat pricing doesn’t increase as your business grows

    • Best for Which Type of Business?

    Businesses ranging from startups to large organizations can benefit from 1-800Accountant’s wide range of services. 

  • Small business owners and startup founders can utilize entity formation services, catch-up bookkeeping, and dedicated accounting assistance.
  • Growing businesses can benefit from full-service bookkeeping and financial reporting, tax planning, and business tax filing services.
  • Established companies can utilize dedicated bookkeeping and financial reporting, payroll services, tax advisory, and audit defense. 

    • Pricing

    1-800Accountant’s Enterprise Plan includes full-service bookkeeping, business accounting, and tax services. Budget-friendly pricing isn’t dependent on your business size, so your accounting fees won’t increase as your business grows.

    Enterprise Plan: $399 per month

    Business owners with minimal accounting needs can choose subscriptions with even lower prices.

    Get Expert Bookkeeping Help from 1-800Accountant

    1-800Accountant is our top choice for full-service accounting and bookkeeping services. 

    1-800Accountant offers dedicated accounting, financial planning, and year-round tax advice. A range of services supports businesses at any stage, from entity formation to proactive financial planning and audit defense. Payroll services support growing enterprises through hiring and payroll tax reporting. 

    Most online bookkeeping services charge extra for tax prep, but 1-800Accountant customers enjoy tax services at no additional cost. Through tax planning and advisory, 1-800Accountant has helped businesses save over $12,000 in yearly taxes.

    Small business tax experts help maximize your business tax deductions and lower your tax liability. 1-800Accountant supports entrepreneurs with individual tax return preparation and tax filing services. You’ll get year-round tax planning so you can meet all your tax filing deadlines. 

    Your secure customer portal gives you access to intuitive reports so you can feel confident in your financial health. You’ll get the tedious back-office work off your place so you can focus on growing your business. 

    If your books need cleanup in a hurry or you’ve received a tax notice, you’re in the right place. 1-800Accountant can update your bookkeeping and help you prepare for a tax audit. 

    You deserve to feel confident in your financial reports and tax filings. Schedule a free consultation to find out how you can save time and money with 1-800Accountant’s full-service bookkeeping.

    This post is to be used for informational purposes only and does not constitute legal, business, or tax advice. Each person should consult his or her own attorney, business advisor, or tax advisor with respect to matters referenced in this post. 1-800Accountant assumes no liability for actions taken in reliance upon the information contained herein.