In 2020, the CoronaVirus pandemic has changed businesses’ functionality at a greater level, significantly, small companies that operate using minimal working capital, revenue, and expense that may go beyond your thinking. Hence, online accounting and bookkeeping services can help your small business stand up straight and rise. To begin with, small businesses do not demand high-end accountants and bookkeepers because of limited transactions and coverage of a small percentage of customers. However, this does not mean that a business person can solely handle his business accounting and bookkeeping processes. So, what is the solution to this? Well! You will find out further in this reading.
More often than not, Accounting or an accountant covers and tracks all expenses and revenues of a business to improve a business’s financial condition. On the other hand, Bookkeeping is an entire accounting process during which all the business transactions are recorded in financial statements, ledger accounts, and balance sheets. In simple words, accounting and bookkeeping services are two different subjects, and if you hold an excellent business understanding, you will know the difference.
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Accounting and Bookkeeping Services difference
Yet, here’s a glimpse of the difference between Accounting and Bookkeeping Services:
- For the most part, Bookkeeping is merely recording financial data. But, accounting involves complete classification and analysis of such data to generate brand-new business financing strategies.
- Bookkeeping does not contribute to financial decisions, whereas accounting does.
- Accounting helps to conclude the exact financial condition of business, whereas bookkeeping does not.
- Financial statements are part of accounting but not bookkeeping.
Which is best among accounting and bookkeeping services for businesses?
To begin with, a business-based research study concludes that both accounting and bookkeeping services are significant for a business to run successfully. It is because accounting is subjective as it focuses on the ups and downs of a company from a theoretical point of view. On the other hand, Bookkeeping services offer to keep track of all small and large business transactions in the form of evidence.
Therefore, if you choose between Accounting and Bookkeeping Services in the United States, don’t make a difficult choice! Instead, we are presenting the top 10 online accounting and bookkeeping services sites for your reference. Thus, these sites will help you record and analyze your business transactions and financial condition. Before we go ahead, it is essential to note that the following sites are paid. Hence, they are only a replacement for an expensive accountant and bookkeeper during the COVID-19 epidemic.
Best 8 sites for online accounting and bookkeeping services
Accounting Coach – 1st ranking accounting and bookkeeping services provider
In case you have extra time in your hands, you can learn accounting for free at Accounting Coach or shortly known as AC. This site brings the basics of accounting and bookkeeping without any learning cost, so it ranks number one among students, newbie accountants, and small business people. Not only does AC provide free learning accounting notes, but also certifies the user after course completion. You can track your day-to-process online and attain excellence in the list of accounting and bookkeeping services.
Above all, Accounting Coach is also a hub of online accounting and bookkeeping services. Its Pro and Pro Plus version allows businessmen to explore their accounting skills via taking quick tests, visual tutorials, flashcards, and whatnot!
Site Link: https://www.accountingcoach.com/
Pricing: Starting from $49/month to $99/month for advanced version with 60-day money back guarantee.
Cougar Mountain Software
Do you want to get your hands on one of the most treasured online accounting and bookkeeping gems? Well! Cougar Mountain Software partners with Microsoft, SeaGull, and many other high-end companies should be your first choice. To begin with, Cougar offers its services to small and mid-sized businesses and NPOs. It includes significant factors of accounting and bookkeeping services such as business, funding, and payrolls.
Before signing up for CMS, you can take a Demo and decide whether or not, this software proves useful. Moreover, following primary features of CMS will blend all your confusion and doubts away:
- Covers areas of IT Services, eDelivery, tax forms and supplies, custom reports and much more.
- You can generate general ledgers, Accounts payable and receivables, POS, purchase entry, and other significant business bookkeeping records using your CMS account.
- Available in the form of Individual user package as well as Enterprise package depending on the size of your business.
- Allows data conversion and quickbooks conversion online.
Site link: https://www.cougarmtn.com/denali-business/
Pricing: Contact (800) 388-3038 to request a quote.
Online accounting and bookkeeping software, Quickbooks has been proven very useful for financial advisors and strategists in the past few years. Several small to large businesses have acquired QuickBooks software to grasp onto their business’s financial condition thoroughly. This software covers multiple aspects of accounting and bookkeeping for a very affordable package. From a business aspect, to track how your business is growing every month, Liveflow’s Google sheets profit and loss template is integrated into this software. The best features of Quickbooks are
- Track income and expenses
- Handle GST compliance effectively
- Automatic reconciliation
- Share invoices, balance sheets, and other records via E-media in PDF format.
- Track and fix accounting and bookkeeping errors right there and there!
- Audit trail report
- Business insights
- Supportive of Android, iOS, macOs, Linux, Windows, and other prominent operating systems.
Site Link: https://myquickbook.com/accountants.html
Pricing: Starting from $299.99/6 months for single-user. Quickbooks Pro ($499.99/year) and Premium versions ($799.99/2years) are also available for multiple users with additional features and advanced user-interface.
Moving on from Quickbooks Accounting and Bookkeeping Services to Odoo Accounting software is easy. Even though Quickbooks is advanced accounting software, people in business with lesser knowledge of financial strategies and analysis prefer to use Odoo. It is an easy-to-use software to keep your business’s accounting and bookkeeping intact. You can use Odoo for the following processes:
- Bank synchronisation and reconciliation
- Generate, save, record, and share invoices online
- Keep a track of bills and expenses and automatically get insights concerning business’s current profit or loss circumstances.
- Save and send automatic follow-ups concerning outstanding payments from customers/clientele/suppliers.
- Keep a track of Inventory and turnover.
Site Link: https://www.odoo.com/page/accounting
No software covers a complete list of accounting services like Wave Accounting. This software complements the usefulness of accounting and bookkeeping services by offering a straightforward and secure business tool. From managing invoice payments and outstandings to automatically reminding you about Tax breeze, Wave Accounting can be a big helper in 2020. You do not need to ping your accountant or bookkeeper each time invoice compliance comes up. All you need to do is – Sign up for Wave Accounting and Bookkeeping Services.
Key features of Wave Accounting are:
- Generate and record Cash Flow Statements
- Securely schedule your credit card payments and avoid the hassle caused by recurring bills.
- Create and share invoices with your suppliers and clientele swiftly along with scheduled follow-ups.
- Sign-up with Google and automatically save all bookkeepings to your official business gmail account.
Site Link: https://www.waveapps.com/accounting
Partnered with my Quickbooks online, Financepal is yet another cost-effective software to run business’s accounting and bookkeeping services easily. This software primarily focuses on creating financial statements, balance sheets, and general ledgers swiftly. It definitely allows you to eliminate 90% of the cost of hiring a bookkeeper in 2020. Apart from this, Financepal also contributes to the list of accounting services such as Tax preparations, payrolls, outstanding payment, cash flow statements and so on.
Thus, if you are a newbie entrepreneur with a very limited knowledge of financial strategies and analysis, Financepal is your business mate to apply for practical learning.
Pricing: Starting from $99/month to $270/month with additional features. Now, you can also contact Financepal to get a custom quote online.
Freshbooks Cloud Accounting Software
When it comes to attain the benefits of cloud assured accounting and bookkeeping services software, Freshbooks remain second on the list worldwide. This software is highly known for its capacity to provide financial insights based on income, business expenses, custom reports, outstanding bills, sales orders, and much more.
If you are new to accounting, you can easily understand and use accounting basics to manage your start-up online at home. You do not need to hire an expert of accounting or bookkeeping as Freshbooks can do the job for you.
Key features of Freshbooks are:
- Create Invoices quickly
- Organize your business expenses and track down unwanted expenses
- You can create folders that contribute to different accounting and bookkeeping services such as financial reports, business insights, cash flow statements, balance sheets and so on.
- Add accounting team members to collaborate and give their personal feedback on business’s financial growth.
- Support multiple methods of payment
- Double-Entry Accounting for small businesses.
- Add and handle up to 500 clientele at a time.
Site Link: https://www.freshbooks.com/
Pricing: Starting from $6/month to $20/month for premium version. Now get 50% by purchasing Freshbooks premium subscription for 3 months.
Accounting and Bookkeeping Services help a business in many ways to expand and grow. What if Zoho Books does all the work on your behalf? Sounds great. To begin with, Zoho Books is end-to-end online accounting software with various bookkeeping features as well.
Following is the list of accounting services and bookkeeping services that you can handle at Zoho Books:
- Accounts Receivables and Payables
- Inventory turnover calculation and management
- Bank synchronization and reconciliation
- Generate custom reports
- Moreover, you can maintain business contacts
- GST compliance and invoices
- Furthermore, you can schedule and send payment reminders
Site link: https://www.zoho.com/in/books/
Pricing: Not Available
Note: Zoho books is available for Indian Users only
Hence, We believe that now you have many QuickBooks alternatives to rely on for Accounting and Bookkeeping Services online. Indeed, all these software are security assured. Furthermore, stay tuned with us for more such websites that help your business in the best way possible.