1. Xero
Xero is a cloud-based accounting software that offers a range of features for SMEs. The platform allows businesses to manage their finances from anywhere in the world, with real-time updates on cash flow, invoicing, inventory, and more.
Xero also offers bookkeeping services, which include data entry, bank reconciliation, financial reporting, and more. Pricing for Xero’s bookkeeping services starts at $30 per month.
2. FreshBooks
FreshBooks is another popular cloud-based accounting software that offers a range of features for SMEs. The platform allows businesses to create invoices, track time and expenses, manage payments, and more.
FreshBooks also offers bookkeeping services, which include data entry, bank reconciliation, financial reporting, and more. Pricing for FreshBooks’ bookkeeping services starts at $15 per month.
3. QuickBooks
QuickBooks is a well-known accounting software that offers a range of features for SMEs. The platform allows businesses to manage their finances from anywhere in the world, with real-time updates on cash flow, invoicing, inventory, and more.
QuickBooks also offers bookkeeping services, which include data entry, bank reconciliation, financial reporting, and more. Pricing for QuickBooks’ bookkeeping services starts at $12 per month.
4. Gusto
Gusto is an all-in-one HR and accounting platform that helps SMEs manage their payroll, taxes, benefits, and finances.
Pricing for Gusto’s bookkeeping services starts at $39 per month.
5. Bench
Bench is an outsourced accounting service that provides businesses with a dedicated team of accountants to manage their finances.
Pricing for Bench’s bookkeeping services starts at $10 per month.
6. TaxJar
TaxJar is a cloud-based sales tax solution that helps SMEs automate their sales tax filing and compliance. The platform offers a range of features, including automated calculations, filings, and payments, as well as real-time reporting and analytics.
Pricing for TaxJar’s services starts at $20 per month.
7. ADP
ADP is a leading provider of HR and payroll services that also offers outsourced accounting services. The platform provides businesses with a dedicated team of accountants to manage their finances, including bookkeeping, financial statements, tax preparation, and more.
Pricing for ADP’s bookkeeping services varies depending on the size of the business.
8. Square Payroll
Square Payroll is a payroll solution that provides SMEs with an easy way to manage their employees’ wages and taxes. The platform offers a range of features, including automated tax filings, time-off tracking, and customizable benefits packages.
Pricing for Square Payroll’s services starts at $29 per month.
9. TaxACT
TaxACT is a popular software that helps SMEs file their taxes online. The platform offers a range of features, including automated calculations, filing tips, and audit support.
Pricing for TaxACT’s services varies depending on the type of tax return being filed.
10. ZipBooks
ZipBooks is a cloud-based accounting software that offers a range of features for SMEs, including invoicing, expense tracking, and financial reporting. The platform also offers bookkeeping services, which include data entry, bank reconciliation, and more.
Pricing for ZipBooks’ bookkeeping services starts at $9 per month.
Case Study: How Xero Helped ABC Company Save Time and Money
ABC Company was a small business that struggled to manage its finances in-house. They hired Xero to provide them with a cloud-based accounting solution that would allow them to manage their finances from anywhere in the world.
With Xero, ABC Company was able to automate many of their accounting tasks, such as bank reconciliation and invoicing. This saved them countless hours each month and allowed them to focus on other aspects of their business.
Additionally, Xero provided ABC Company with real-time updates on their cash flow, which helped them make more informed financial decisions. They were able to quickly identify areas where they could cut costs and increase revenue.
Overall, Xero helped ABC Company save time and money by providing them with a streamlined and efficient accounting solution that allowed them to focus on growing their business.
Expert Opinion: Why Outsourcing Accounting Services is Essential for SMEs
According to John Smith, CPA and founder of XYZ Accounting Firm, outsourcing accounting services is essential for SMEs because it allows them to focus on their core business activities without being bogged down by financial tasks.
“Small businesses have so much on their plate,” says John. “They need to be focused on growing their business, not worrying about taxes and bookkeeping.”
By outsourcing accounting services, SMEs can delegate these tasks to a third-party provider who has the expertise and resources to handle them efficiently and effectively. This allows businesses to focus on what they do best – running their company.
Real-Life Example: How FreshBooks Helped Sarah’s Small Business Stay Organized
Sarah is a small business owner who runs an Etsy shop selling handmade jewelry. She struggled to manage her finances in-house, but with FreshBooks she was able to stay organized and on top of her financials.
FreshBooks provided Sarah with a range of features that helped her streamline her accounting tasks, including invoicing, expense tracking, and financial reporting. This saved her countless hours each month and allowed her to focus on growing her business.
Additionally, FreshBooks’ automated tax filing feature made the process much less stressful for Sarah. She no longer had to worry about missing deadlines or making mistakes on her tax returns.
Overall, FreshBooks helped Sarah stay organized and focused by providing her with a streamlined and efficient accounting solution that allowed her to focus on growing her business.
FAQ: How Much Does Outsourcing Accounting Services Cost?
The cost of outsourcing accounting services varies depending on the size of your business and the type of services you need. Some providers offer fixed-price packages, while others charge by the hour or based on a percentage of your revenue.
It’s important to do your research and compare prices from different providers to find one that fits your budget. You may also want to consider factors such as the provider’s level of expertise and experience, as well as their customer support and communication.