Our US-based team leverages technology to take care of your accounting with a personalized touch at an affordable price. Moreover, it integrates with two of our best small business accounting software, QuickBooks Online and Xero. On the whole, Bookkeeper360 is a good solution for startup and growing companies. We consider the opinions of users and the service’s ratings on various review sites.
You can keep track of your business performance directly from the app after integrating it with your QuickBooks Online or Xero account. We evaluated Bookkeeper360 based on bookkeeping services, personal bookkeeper, user reviews, tax and consulting services, and pricing. If you’re using Xero or QuickBooks, both the desktop and mobile apps will connect to your account and provide information like scorecards and metrics. Using the app, you can keep track of business performance by looking at dashboards and auto-generated reports.
Tax Accountant
Bookkeeper360 offers comprehensive bookkeeping services leveraging the power of QBO, alongside setup, training, and ongoing support. Under cash-basis accounting, revenues and expenses are recorded when cash is paid or received. Meanwhile, accrual accounting records revenue and expenses when earned or incurred. Learn more in our cash- vs accrual-basis accounting method comparison, which also covers when to use each.
As a business owner, you can use this chart to analyze revenue not just as a whole but in different components. This Bookkeeper360 review discusses features and pricing to help you determine if this is the right service for you. Every Bookkeeper360 client gets a personalized Bookkeeper360 App demo, with their dedicated Product Success Manager guiding setup and introducing the App’s features. For detailed insights into our financial reporting pages and their functionalities, access our informative articles here. Sign up to receive more well-researched small business articles and topics in your inbox, personalized for you. The cash runway, also called cash burn rate, shows the estimated number of months until cash runs out.
Bench
If you want a more detailed view of business performance, you can switch to the Metrics view to year-over-year data for revenue and common size amounts for gross profit, net income, and payroll. You can also check your working capital and debt-to-equity ratio to measure your business’s short-term and overall liquidity. The payroll team will process payroll for both employees and contractors and provide full-service support with health benefits, direct deposit setup, W-2s, and 1099s. Bookkeeper360 also integrates with other payroll providers like Gusto and ADP.
Pricing starting at
- Moreover, just like Bookkeeper360, Bookkeeper.com offers additional services for payroll, tax planning and management, as well as general financial planning.
- We require our bookkeepers and CPAs to take continuing education courses and maintain active software certifications.
- It allows business owners to create business and financial plans, conduct cost and margin analysis, generate income statements, and calculate sales taxes.
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Then, your bookkeeper will reconcile your accounts, categorize transactions, produce financial statements — overall handling your essential bookkeeping tasks on a monthly basis. You can also call your bookkeeper or message them in Bench for support whenever you’d like. Although it can be beneficial to have a service and cost that’s designed specifically for your business, it can be preferable for business service providers to have clear and established pricing.
We evaluated whether the online bookkeeping service offered tax and consulting, and the scope of those services. The Bookkeeper360 app can also provide cash management insights using illustrative charts. The charts will show your cash inflows and outflows for the past 12 months, past 24 months, last calendar year, last two calendar years, and last three calendar years.
What other services does Bookkeeper360 offer?
The Bookkeeper360 pricing scheme isn’t as affordable as many of its competitors and isn’t transparent—even though starting prices for each service are listed online, it is largely quote-based. Unlike Bookkeeper360, however, Bookkeeper.com only works with businesses that use QuickBooks. With Bookkeeper.com, you can choose from two pricing plans, based on the number of transactions you make per month.
Bookkeeper360 took a small hit in our rubric due to the inability of filing sales tax returns, and I recommend looking into Xendoo if that is necessary for your business (read our review of Xendoo). However, Bookkeeper360 offers tax services that include individual or business income tax filings, local tax filings, 1099 reporting, and overall tax planning and compliance. Included in the tax services is tax advisory, where you can consult your dedicated tax advisor for tax-related matters. Aside from bookkeeping services, Bookkeeper360 offers a web-based app that summarizes your data from QuickBooks or Xero and transforms it into visually appealing charts and graphs.
In the example above, the cash burn rate is 13 months, assuming the average monthly cash outflow remains the same. 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 bookkeeper360 wait for them to get back to you.
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- The cash runway, also called cash burn rate, shows the estimated number of months until cash runs out.
- However, the real value comes from understanding the data from platforms like QuickBooks Online or Xero.
- After setting up your accounting system, you’ll be able to use the Bookkeeper360 cloud-based platform to communicate and work with your bookkeeper or accountant.
- Or, to shift their perspective on their financial management, making the most out of your budget can be a challenge.
These criteria were disregarded for providers where no reviews were found. The direct cost column chart above is another chart that you’ll find very useful in costing. What we like about this chart is that you can see the cost behavior of different cost drivers in the business. For instance, we see consistent labor costs throughout the year except in July. Moreover, costs arising from Scooby Snacks can be a mixed cost because it has fixed and variable components. You can interpret this chart in many different ways, and it can aid you in decision-making.
This feature is available because the communication happens within the Bookkeeper360 interface. Sign up to receive more well-researched accounting articles and topics in your inbox, personalized for you. We’re committed to empowering clients with the tools to navigate the financial landscape, and the Bookkeeper360 App exemplifies this commitment.
Bookkeeper360 is an accounting solution designed to help businesses view financial data, streamline bookkeeping operations, and track goals on a unified platform. It allows business owners to create business and financial plans, conduct cost and margin analysis, generate income statements, and calculate sales taxes. Bookkeeper360, founded in 2012, is a financial technology firm that offers accounting and cloud-based bookkeeping and business advisory services. As a Xero Platinum partner, Bookkeeper360 provides seamless integration with Xero’s cloud-based accounting software. Bench offers its services in five plans, designed to accommodate businesses of different sizes based on their monthly expenses. Regardless of your plan, Bench connects you with a dedicated bookkeeper with whom you work to set up all of your information and accounts on the Bench platform.
One of these services is its CFO Advisory services, in which you work with the Bookkeeper360 team to analyze your financials and determine a strategy to manage and grow your business. Like with its virtual bookkeeping services, the CFO Advisory support Bookkeeper360 offers is available in three different plans, as well as on a custom-package basis. Upon enrollment, you’ll be assigned a dedicated bookkeeper who will work with you to figure out the best strategy for your business. That includes determining the frequency of the service and deciding whether you require services in addition to bookkeeping, such as payroll and HR or tax filing. Then, you’ll connect Bookkeeper360 to your accounting system—either QuickBooks or Xero—and work online collaboratively with your bookkeeper to manage your finances.
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. Because each plan depends on many factors, we looked at the value provided in terms of the time and potential money that you’re saving by using the service. This revenue source is not present in all months while merchandise licensing is consistent in almost all months.
Director of Tax and Business Services
These Bookkeeper360 services can integrate with Xero and QuickBooks, are free to set up and include next-day funding. Our rigorous hiring policies ensure that you can rest easy knowing your dedicated accountant has the experience and knowledge to deliver high-quality work — the first time. At Bookkeeper360, our proprietary app seamlessly integrates with the leading accounting platform, QuickBooks Online (QBO), while also supporting connections to Xero and Gusto. You should be able to access a dedicated bookkeeper for any questions or advice and one-on-one assistance. You can also change it per quarter and present it as trailing 12 months, trailing 24 months, or previous calendar years. The columns represent the volume of cash inflows and outflows while the line shows your net cash position.