7 Best Online Bookkeeping Services for Small Businesses

Although we offer a catch up bookkeeping services Catch Up Bookkeeping Service here at Bench, we know that some business owners prefer to tackle overdue bookkeeping on their own. A Xero survey revealed that 83% of small business owners who outsourced their bookkeeping said they saved an average of 10 hours per month . Ideally, businesses should maintain regular bookkeeping, but periodic catch up may be necessary if records fall behind from where they should be. If your pile of unrecorded transactions continues to grow, that is a great sign that your business has begun to lag when it comes to its bookkeeping.

How do Data Entry and Catch-up Bookkeeping Services Work?

Some bookkeeping services can provide a full suite of bookkeeping, accounting and tax services. Examples include bookkeeping journal entries, bookkeeping normal balance ledger, bookkeeping reconciliation and bookkeeping trial balance. The cost of bookkeeping services can vary depending on the size of your business and the features you need. Some bookkeeping services charge a monthly fee while others charge by the hour. You can find services for as little as $20 per month while others run thousands per month.

What are the signs that my business needs catch up bookkeeping services?

Catch-up bookkeeping refers to the process of bringing a business’s financial records up to date. Catch up bookkeeping is the process of bringing a company’s financial records up to date after a period of neglect. It ensures accurate financial reporting, compliance with tax regulations, and better decision-making based on up-to-date financial data. Its bookkeeping service comes with its Enterprise plan, which costs $399 per month when billed annually. You’ll get a dedicated accountant, year-round tax advice, tax prep, bookkeeping and financial reports.

Bench integrates with your favorite small business tools

If you’re switching from QuickBooks, we’ll work from your closing balances to do your bookkeeping going forward. If you’re not sure whether your closing balances are accurate, we recommend chatting with one of our Onboarding Specialists about Catch Up bookkeeping. We don’t sync your financial data from any other bookkeeping software. The best accounting firms also integrate with the latest software, which can streamline the catch-up process and ensure that your books are brought up-to-date — and that they can stay that way.

• Anytime you migrate data or need to reconcile your accounts, it’s helpful to give yourself an audit to ensure you’re working with the latest data.
• Accuracy in financial recordkeeping is a basic stepping stone that allows you to maintain the kind of records that pass through all audits and tax hurdles in the long term.
• However, catching up on bookkeeping is critical not only for understanding the financial health of your business but also for meeting compliance requirements.
• At the end of each month, your bookkeeper delivers accurate, up-to-date financials.
• Once you’ve gathered your financial records, reconcile them with your accounting software.

Find out how working with an experienced Staten Island accounting firm can help your business. Catch-up bookkeeping as the name indicates is about getting your books that have fallen behind caught up or up to date. If you’d prefer to have someone else process that backlog of bookkeeping for you, get in touch. Here are the different types of receipts, invoices, and records you’ll want to look for. First, collect all of the receipts and invoices related to your business expenditure.