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Bookkeeper360 Review

Sunday, July 14th

2024 Bookkeeping Service Reviews

Bookkeeper360 Review 4 Star Rating

Bookkeeper360

4 Star Rating
  • Clearly labeled (if premium) pricing
  • Back office services (like invoicing) starting at $150 per month
  • Tax services offered at $800 business, $300 individual per filing
  • CFO advising at $1,000 per month

Bookkeeper360 is a well-reviewed fintech bookkeeping software and management company with numerous awards. Bookkeeper360 works seamlessly with QuickBooks, Xero, and Gusto.

Pricy, high-quality service

Bookkeeper360's greatest downside is its cost; however, those costs are made easily comprehensible (which we always appreciate). With a slider that adjusts plan-prices based on monthly expenses, we analyzed their prices for a small business with $50,000 dollars in monthly expenses (though keep in mind, they do offer a $125 per hour pay-as-you-go plan). A business with $50,000 in monthly expenses would pay $599 per month for monthly support, and $749 per month for weekly support. While all plans include a dedicated accountant and bookkeeping training and advisory, the monthly plan will include bank and credit card reconciliation, a profit loss & balance sheet, and review of KPI's during monthly meetings. Their weekly plan will get you a dedicated accounting team, in addition to advanced reporting metrics.

Lots of service options (for extra)

Keep in mind, however, that many services included in lower cost plans for other companies come at a hefty premium with Bookkeeper360. CFO advisory will set you back $1,000 per month; taxes are billed per-filing, and cost $800 for business and $300 for personal filing; payroll starts at $46 per month, while back-office integrations such as invoicing, expense reimbursements, inventory management, and ERP integration will set you back $150 per month. So, for example, if you have a small business with $50,000 of weekly expenses, looking for a monthly meeting, payroll back office, and CFO advisory, you'd be looking at $1,795 per month.

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A full service (and added price) app

Bookkeeper360's app - which costs $19 per month on its own - offers an all-in-one management portal for your business. Bookkeeper360's app is extensive, and allows users to track business performance, cash management, and payroll analytics. Bookkeeper360's business performance affordances let you track revenue, costs, and expenses, set goals and scorecards, profit and loss details with EBITA, yearly and monthly comparison, trend-trackers for revenue and expense; manage cash burn rate, inflow/outflow, and net cash on hand; payroll analytics with an expense breakdown by department, headcount, and average revenue/income by headcount. In short, their integrated app comes with powerful visualization tools, allowing you to more easily discern trends, and manage your business accordingly.

Stellar customer reviews

Reviews for both the business and the app are consistently high. Customers report satisfaction with services rendered, and overall excellent customer service. Additionally, Bookkeeper360's much-vaunted app does not disappoint, with 5/5 stars from all reviewers, who cite its excellent integrations, insightful data visualizations, and easy integration with Xero bookkeeping software.

High price, great product

While one of the priciest bookkeeping services on our list, Bookkeeper360 should not disappoint. In fact, its premium price is what's kept it from the top spot on our list. That being said, if quality without compromise is your modus operandi, and you'd like some flashy software to help visualize key business metrics, then we think you can't go wrong with Bookkeeper360's excellent software and support teams.

What's the Best Online Bookkeeping Service on the Market?

The answer to that question is going to depend on your specific needs. There is no one-size-fits-all bookkeeping service. Online bookkeeping companies will often specialize in services for a particular type of company. Some companies on our list specialize in startups, with strategic cash-burn analysis, Series A-C funding guidance, and tax strategies to boot. Other companies offer attractive budget bookkeeping support, but little in the way of CFO guidance, while yet others cater to businesses that utilize a wide-variety of payment and payroll software integrations.

Online bookkeeping services offer several advantages to businesses looking to manage their financial records efficiently. One of the most significant benefits of online bookkeeping is accessibility. With online bookkeeping services, businesses can access their financial records from anywhere, at any time, and through any device with an internet connection. This allows business owners and their accountants to stay up-to-date on their finances and make informed decisions on the go.

The Best Bookkeeping Services Compare Bookkeeping Services Compare Bookkeeping Service Reviews What are the best Bookkeeping Services Best Bookkeeping Service Reviews

Bookkeeping Service FAQ

The two terms are sometimes used interchangeably. Keep in mind that bookkeeping generally refers to the tracking and management of your financial data, while accounting analyzes and expands on the data bookkeeping to provide insights into your company's performance. Accounting is best done by a CPA (certified public accountant), so be sure to check the credentials of your service provider.
Cash accounting doesn't actually handle cash, but it only counts when you receive revenue and pay expenses. Accrual accounting on the other-hand takes into account expenses and revenue that have yet to process, giving you a much better picture of the overall financial health of your business. Because cash accounting is generally cheaper than accrual accounting, and not all companies will need the insights of accrual accounting, it can be a great choice for a freelancer or small businesses.
CFO stands for Chief Financial Officer, and if you're looking for some outside advice on growth, expense management, or anything in between, then it could be quite beneficial. However, CFO services can come at a decided premium (depending on who you choose), and many higher-quality platforms will offer CFO services as part of their top-tier packages.
This is going to depend on your budget, and the size of your business. Many accounting services are going to price their services based on your monthly expenses. In general, a business with under $50,000 dollars per month in monthly expenses will qualify for budget options anywhere from $200 to $399 per month depending on the service. Anything more than that, and it will probably qualify as a premium service. In short, keep in mind that your bookkeeping costs are largely going to depend on your expenses or annual gross revenue, which gives you a good heuristic for comparing prices across companies.
Don't worry if you're behind on your books: that's a common thing, and no one is going to bat an eye (and if they do, take your business somewhere else). In fact, many companies specialize in budget-friendly catch-up bookkeeping and can get you up-to-date with little to no hassle.
While some bookkeeping services include accounting, that isn't the case for all of them. Often, tax filing is billed as extra, or as part of a premium package. Keep that in mind as you browse your options.
Any business looking to catch up on their books, receive professional CFO guidance, or just free up some valuable time will benefit from an online bookkeeping service. Keep in mind that certain services specialize in different industries, so be sure to look for one that responds to your unique needs.
Not at all. Many bookkeeping services proudly incorporate low-stress software integrations into their services. Additionally, many services specialize in more tech-forward bookkeeping support. So whatever you're bringing to the table, you'll be sure to find a service that will meet you there.
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Continued from above...

Another advantage of online bookkeeping services is that they offer real-time data tracking and reporting. This means that businesses can monitor their financial performance as it happens - and quickly identify any issues or opportunities for growth. Online bookkeeping services can also automate certain tasks, such as reconciling bank statements, generating financial reports, and tracking expenses. All this can save businesses valuable time and resources.

Online bookkeeping services can also be more cost-effective than traditional bookkeeping methods. They eliminate the need for businesses to invest in expensive accounting software or hire in-house accountants, since all the necessary tools and expertise are available online. This can be particularly beneficial for small businesses and startups with limited budgets.

While almost all of the companies in our review offer a variety of bookkeeping, tax, back-office, and advisory solutions, the extent to which those are included in base plans - or priced as premium services - is going to depend on the specializations of the provider you choose. With such a diversity of offerings, it can be difficult to parse the good from the bad. The best on our list is what we think is best for most, not for everyone. As such, identify your specific needs while reviewing our list, and you'll be sure to find the ideal fit from our top-rated services.

Before you jump right into our top bookkeeping providers, here are some important tips to keep in mind:

  • Cash vs. accrual accounting: accrual accounting records all revenue and expenses based on when invoices and bills are received, and is much more accurate. Cash accounting is much simpler, and only tracks when money changes hands. Most small businesses are well served by cash accounting; however, that may not be the case for you. Keep this in mind when you notice the price differences between cash and accrual accounting.
  • Type of service: Is it a single bookkeeper working with you one-on-one, or does a team manage your books? Do they offer proprietary software services, if so, do they integrate with your current software? Are they CPA certified? Whatever their services offer, just remember that - even though they may often sound similar - the type and quality of service varies greatly across our list.
  • Cost: Full costs are rarely upfront. Oftentimes, the actual costs of any bookkeeping or accounting service are hidden behind a phone call or consultation. Compare the prices of competitors-and what you're willing to spend - before you make that call.

At Top Consumer Reviews, we've done the work of comparing (and even interrogating) our listed bookkeeping services - and analyzing their user reviews - to make sure that whatever your needs, you'll find the right range of cost, service, and support for your small business.

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