9 Best Online Accounting and Bookkeeping Services for Startups

Startups often juggle a multitude of tasks, and managing finances efficiently is crucial for sustainable growth.

Accounting and bookkeeping can be incredibly challenging for young businesses, which is why many startups turn to online accounting services.

With the right service, such as doola Bookkeeping, startups can streamline financial tracking, meet compliance standards, and stay on top of their budgets without hiring a full-time accounting team.

In this article, we’ll explore some of the top online accounting and bookkeeping services for startups, focusing on features, pricing, and what makes each service unique.

Additionally, we’ll cover essential factors to consider when choosing the best service for your needs.  

Benefits of Online Bookkeeping Services for Startups

Online bookkeeping services can be invaluable for startups, providing both convenience and cost-effectiveness.

Key benefits include:

• Reduced Costs: Hiring an in-house accountant can be costly, especially for startups. Online services are often much more affordable.

• Time-Saving Automation: Automated invoicing, payroll, and expense tracking simplify processes that would otherwise require hours of manual entry.

• Scalability: As your business grows, many online bookkeeping services can scale to accommodate increased financial demands.

• Easy Access to Financial Data: Cloud-based platforms allow you to access your financial data from anywhere, giving you real-time insights into your finances.

• Expert Support: Many online bookkeeping services provide access to seasoned professionals who can guide startups through complex financial tasks like tax preparation.

9 Best Online Accounting and Bookkeeping Services for Startups

1. doola Bookkeeping

doola Bookkeeping stands out for its comprehensive approach, explicitly designed with startups in mind.

Alongside typical accounting services, doola also offers tools for incorporation, seamless tax filings, and compliance assistance.

This service helps startups manage their finances from formation through growth, making it an all-in-one solution.

Pricing:

Starts at $25/month, with customized packages available based on specific needs.

2. Bench

Bench is a popular online bookkeeping service that offers professional bookkeepers, real-time financial insights, and a user-friendly dashboard. Bench is built for startups that need basic bookkeeping with clear monthly reports.

Pricing:

Starts at $349/month, with additional tax filing services available.

3. QuickBooks Live

QuickBooks Live leverages the power of the QuickBooks software with a dedicated bookkeeper for each client.

QuickBooks Live is a strong choice for startups already familiar with QuickBooks, providing tailored support and regular account reconciliation.

Pricing:

Starts at $35/month with additional costs for complex services.

4. inDinero

inDinero offers accounting, bookkeeping, and tax services in one place, making it a convenient option for startups that want to manage all financial aspects in one solution.

inDinero provides CFO-level support as an add-on for growing startups needing more strategic financial planning.

Pricing:

Custom pricing based on company size and requirements. Plans start at $750/month.

5. Pilot

Pilot provides bookkeeping services using a blend of software automation and professional bookkeeping.

Tailored primarily to tech startups, Pilot includes specialized support for startups with investor reporting needs.

Pricing:

Starts at $349/month for cash-basis accounting.

6. Bookkeeper360

Bookkeeper360 provides financial management services, including bookkeeping, CFO advisory, payroll, and tax services.

They cater to both cash and accrual-based accounting and offer a dedicated financial team to support your business’s growth.

Pricing:

Starts at $399/month, with customized packages based on service level.

7. Merritt Bookkeeping

Merritt Bookkeeping is known for its simplicity and straightforward pricing, which appeals to small startups looking for basic bookkeeping at an affordable rate.

It’s a solid choice for startups in need of straightforward bookkeeping without any frills.

Pricing:

Fixed rate of $250/month.

8. Wave

Wave is a free accounting software solution that offers bookkeeping features and optional payroll and payment processing add-ons.

It’s a budget-friendly option ideal for early-stage startups needing essential bookkeeping functions without a hefty price tag.

Pricing:

Free basic service, with optional payroll add-ons starting at $16/month.

9. O’Dell & Company

O’Dell & Company has over 30 years of experience. Their experienced team uses extensive resources to streamline back-office operations.

O’Dell & Company handles essential bookkeeping tasks so businesses can focus on growth.

They offer weekly, bi-monthly, and monthly bookkeeping packages tailored to fit unique business needs.

Pricing:

Customized packages based on specific business requirements.

What to Consider When Choosing a Bookkeeping Service for Your Startup

When selecting an online accounting and bookkeeping service, consider the following factors:

• Cost: Choose a service that aligns with your budget, especially as a startup. Consider long-term affordability as you scale.

• Features: Identify the specific features your startup needs, such as invoicing, payroll, and tax support, and ensure the service covers them.

• Scalability: Opt for a service that can grow with your business to avoid the need for a new provider as your needs evolve.

• Ease of Use: An intuitive dashboard and user-friendly interface are essential, especially if you need a dedicated financial team.

• Customer Support: Access to expert support is invaluable, especially during tax season or when facing complex financial challenges.

• Compliance: Make sure the service is equipped to handle regulatory compliance for your industry.

Simplify Your Accounts With doola Bookkeeping

doola provides startups with a versatile bookkeeping solution tailored to cover every stage of business growth. 

Whether your business is in the initial stages of incorporation or expanding operations, doola’s services cater to all financial and compliance needs.

With pricing designed to accommodate startups, doola Bookkeeping stands as an accessible option for entrepreneurs seeking peace of mind in their financial management. 

Contact doola today to learn more about how their comprehensive accounting services can benefit your startup.

Book a demo with our experts to transform your bookkeeping.

FAQs

Can online bookkeeping services replace an in-house accountant?  

Yes, many online bookkeeping services offer robust financial management solutions that can handle the duties of an in-house accountant, including payroll, tax preparation, and financial reporting.

Is it safe to use online bookkeeping services for my startup’s financial data?  

Most reputable services prioritize security, using encryption and compliance with data privacy regulations to ensure the safety of your financial data.

How do I know which bookkeeping service is best for my startup?  

Consider your specific needs, budget, and scalability requirements.

Opt for a service with features that match your business model and budget while also offering room for growth.

Are there any free bookkeeping services suitable for startups?  

Yes, platforms like Wave offer free accounting and bookkeeping features, which can be sufficient for startups needing only basic financial tracking.

Do online bookkeeping services help with tax preparation?  

Many online bookkeeping services offer tax preparation support or have add-ons for tax filing, helping startups remain compliant and streamline their tax processes.