The Best Online Bookkeeping Services for Small Businesses

Today’s freelancers, work-at-home parents, and small-business owners have more choices than ever when it comes to accounting and bookkeeping services. Several cloud-based accounting and bookkeeping applications are easy to use and inexpensive for businesses of all sizes. We’ve identified the best online bookkeeping services, looking into their cost, features, and customer experience.

Best Online Bookkeeping Services

1. Kashoo

Currently used in more than 180 countries, Kashoo allows multicurrency invoicing and immediately shows you the exchange rate impact.

Pros:

• Integrates with several other applications.
• Automatically pulls transactions from your bank feed.
• Supports over 100 global currencies.
• Allows you to customize the design and layout of invoices.
• Free support via email, phone, and chat.

Cons:

• No dashboard for visualizing key performance indicators.
• No app for Android users.

Products:

• TrulySmall Invoices – Free
• TrulySmall Accounting – Paid
• Kashoo – $30 per month

Both TrulySmall Accounting and Kashoo offer a free 14-day trial so that you can try the application out for yourself.

2. Xero

Xero is a detailed and comprehensive accounting software program geared to international small businesses and freelancers.

Pros:

• Bank feeds mean you can import and categorize bank statements.
• Supports more than 160 currencies.
• Updates foreign exchange rates hourly.
• Dashboard displays account balances, outstanding invoices, unpaid bills, and total cash in versus total cash out.
• Integrates with more than 1,000 third-party apps.

Cons:

• If you aren’t familiar with accounting and bookkeeping acronyms and phrases, Xero may be overwhelming.
• Support is available over email or DIY via the website’s extensive support articles and videos. There’s no option to get live help.

Plans:

• Early – $3.75 per month
• Growing – $10.50 per month
• Established – $19.50 per month

All packages offer a free 30-day trial with no credit card required.

FAQs

How do I choose the best online bookkeeping service?

Consider factors such as your budget, the features you need, integrations with other tools, user interface, and customer support when choosing an online bookkeeping service.

Do online bookkeeping services offer free trials?

Many online bookkeeping services offer free trials ranging from 14 to 30 days so you can test out the platform before committing to a paid plan.

Can I customize my invoices with online bookkeeping services?

Most online bookkeeping services allow you to customize your invoices with your company logo, colors, and layout to match your brand identity.

Conclusion

With the variety of online bookkeeping services available today, small businesses have the opportunity to choose a platform that best suits their needs and budget. Whether you’re looking for basic invoicing or comprehensive accounting features, there is a service out there for you. Remember to consider your specific requirements, budget, and comfort level with accounting terminology when making your decision.