Lean, mean, modern businesses are increasingly turning to online bookkeeping and accounting services. These services let you tap into financial subject matter expertise, keep you in compliance, and save you the time and headache of doing it yourself.

If you’re considering this route, we’re breaking things down so you can better understand your options.

While outsourced bookkeeping services and accounting will always be an important aspect of any business, you may not love (or know how) to keep the books yourself.

Advantages of Online Bookkeeping Services

Outsourcing financial record management and other accounting-related tasks come with a host of benefits and below are some of them:

More time to focus on growing the business

One of the leading reasons why business owners elect to outsource is for them to have more time to focus on growing the business.

It’s no secret how an entrepreneur’s schedule can become so tight, making them lose sight of their more important responsibilities. It’s not easy to manage a business’ daily operation when you’re also in charge of managing the books and monitoring your financials.

Having a dedicated person or team to do this on your behalf is definitely more sensible considering how you can focus most of your time and energy on growing your business and getting more things done.

More Money Saved

Hiring someone in-office or fulltime can become expensive with overhead costs like office rent and insurance adding up to what you actually need to pay for which makes this option less popular now that the gig economy is in full swing.

By outsourcing your bookkeeping tasks, you’re practically saving a lot more money since you’re only paying for hours worked and nothing else. If cost efficiency is something you value, outsourcing is definitely the better choice.

Top-notch bookkeeping skills and experience

Moe than the time and money you’ll save, outsourcing to an online bookkeeping service allows you to work with accounting professionals who have years of experience and expertise.

This fact alone almost guarantees high-quality results right from the get-go and with the need to hone their skills regularly to keep up with the competition, you’re assured that you’re leaving your books to more than capable hands.

By working with such talented individuals, you’ll be left with more peace of mind and fewer things to worry about.

Access to Top Accounting and Bookkeeping Systems

Another benefit that goes along with outsourcing bookkeeping services is being given access to some of the world’s best accounting and bookkeeping systems and software.

Such systems can be a bit pricey because of the features they have to offer. Just one of the many perks that go along with outsourcing to bookkeeping services.

Drawbacks of Working with Online Bookkeeping Services

As attractive as it is to outsource to online bookkeeping services, such option also comes with its own downsides and below are some of them:

Less Control

One of the biggest drawbacks to outsourcing is the lack of control on your part as the business owner. Unlike having it done in the office, doing it remotely gives you less control over how things are done.

When you’re working with an online bookkeeping service, you’re technically at the mercy of the freelancer or freelancers assigned to work on your project.

If you are quite particular with how things are done or is big on having your preferences implemented, outsourcing may not be right for you.

Urgency

Urgency is another big factor when it comes to outsourcing. One of the things that can make this difficult is if you’re the type who likes to hover around or ask questions from time to time.

This is definitely going to be an issue because these questions couldn’t be answered outright. Most of the time, you’ll have to wait for the freelancer who’s handling your project to come online before you get one.

Since they work their own hours, your answer may come in a matter of hours or take a few days depending on the freelancer’s availability.

Potential Language Barrier

One of the risks of outsourcing tasks to freelancers is the possibility of facing language barriers. It’s no secret that freelancers today come from different parts of the world and this fact puts you in a position of possibly working with someone who does not speak fluent English the way you do.

Since bookkeeping involves working with a lot of money, you can’t afford to have any form of miscommunication or misunderstanding because the consequences can be catastrophic, to say the least.

Potential Security Risk

Outsourcing to bookkeeping services means giving other individuals access to sensitive and confidential information. While this may not be a huge deal considering the policies and agreements you have in place, the fact still remains that you are putting your security at risk.

Letting an outsider in on information that is supposedly for your eyes only isn’t for everyone. If you’re not comfortable sharing this kind of information, outsourcing may not be your best option.

How Much Do Accounting and Bookkeeping Services Cost?

On average, the price of outsourcing bookkeeping services can range from $125 to $2,500 a month depending on a number of factors. The price may vary based on the number of transactions you order for, the expertise of the freelancer, or the complexity of the services you require.

What makes outsourcing an attractive option is that it gives you the ability to customize the services, giving you more options to fit everything in your budget.

My Experience in Outsourcing Accounting and Bookkeeping Tasks

The first accountant I hired was kind of a disappointment. She was local to me in California, and for the price I paid, I expected a little more help on the tax-saving / strategy side.

Instead she basically just punched in the numbers I gave her, without much consultation at all.

After that, I did my own taxes for both my personal and business returns for several years. Eventually I found another CPA I really like working with. On just our free initial consultation, he made a couple recommendations that were worth thousands of dollars in savings!

On the bookkeeping front, I’m actually the math nerd who loves keeping on top of the revenue and expenses. I can tell you my year-to-date profit and loss every day.

I have a pretty streamlined system for dealing with this and find it really rewarding–at least when the money’s coming in!

Which Accounting and Bookkeeping Service is Right for You?

There’s definitely a lot of benefits to hiring a bookkeeping service, both from a financial and logistical standpoint. While it does come with its disadvantages, there’s no question that the advantages far outweigh them.

By outsourcing your accounting needs to any of these services, you are putting your business in a better position to grow and become more profitable.

The Best Bookkeeping Services

Outsourcing to bookkeeping services is a huge decision. If you’re still in the fence whether you’d it or not, the following services we provided below may help make things easier.

We suggest you browse through each of these services so you can read the reviews and feedback associated with each of them and make a decision in the process.

Overall Rating55555
Quality of Work55555
Communication4.954.954.954.954.95
Value55555
Tasks Expert Why I Recommend Tasks Expert for Virtual Assistance In today’s fast-paced world, businesses need reliable support to stay ahead. That’s why I’m excited to share my experience with Tasks Expert, a company that truly delivers on its promise of empowering […]
Overall Rating3.43.43.43.43.4
Quality of Work3.333.333.333.333.33
Communication3.443.443.443.443.44
Value3.63.63.63.63.6
Fiverr Fiverr.com is one of the most popular outsourcing destinations online. Built around a very simple concept – what people will do for $5 – Fiverr has grown into a large global community of freelance workers and people who hire them. […]
Overall Rating4.874.874.874.874.87
Quality of Work4.844.844.844.844.84
Communication4.884.884.884.884.88
Value4.864.864.864.864.86
My Tasker (MyTasker) MyTasker is a well-established and fast growing firm in the virtual assistant industry. The India-based company was founded in 2012 by three veteran VAs, who brought years of experience to the table. Since the MyTasker team spent the time in the trenches, […]
Overall Rating4.944.944.944.944.94
Quality of Work4.944.944.944.944.94
Communication4.944.944.944.944.94
Value4.944.944.944.944.94
TaskVirtual (Task Virtual) Task Virtual is an India-based virtual assistant company. The company is 8+ years old and has industry experience of more than 15+ years. The company offers a wide range of services, carried out by fully-vetted, skilled assistants, and being based […]
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Quality of Work55555
Communication55555
Value55555
RemSource Need full time availability but don’t have a full time workload? RemSource is built for solo & small business; it’s US-based (Maryland), and staffed with “#VirtuallyAwesome” (their words) Admins & Bookkeepers wired for business owners with more tasks than time. […]
Overall Rating4.934.934.934.934.93
Quality of Work4.954.954.954.954.95
Communication4.854.854.854.854.85
Value4.934.934.934.934.93
Remote CoWorker Remote CoWorker is a virtual assistant company specializing in providing virtual assistants at competitive rates to entrepreneurs and businesses of all sizes all over the world. The company’s headquarters is located in Florida, U.S. All of their virtual staff work […]
Overall Rating4.734.734.734.734.73
Quality of Work4.674.674.674.674.67
Communication4.734.734.734.734.73
Value4.674.674.674.674.67
Equivity Equivity offers virtual assistants who provide administrative, marketing, and paralegal services. Clients work with a dedicated virtual assistant or team of virtual assistants.  Each virtual assistant has specialized experience in their area of expertise and holds a bachelor’s degree.  In […]
Overall Rating4.674.674.674.674.67
Quality of Work4.834.834.834.834.83
Communication4.674.674.674.674.67
Value4.334.334.334.334.33
Wishup Wishup is a platform created to connect business owners with carefully vetted and proficient virtual assistants. The platform connects businesses with virtual assistants who can help with bookkeeping, customer service, lead generation, administrative tasks, data entry and much more. The […]
Overall Rating4.674.674.674.674.67
Quality of Work4.674.674.674.674.67
Communication55555
Value55555
Task Papa Task Papa is a virtual assistant company based in Mumbai, India. The company was founded in 2012, but have been flying under my radar until recently. Their company philosophy is to provide virtual assistants, or ‘task officers’ as they call […]
Overall Rating55555
Quality of Work55555
Communication55555
Value55555
Virtually Yours Virtually Yours is an Australian-based virtual assistant network providing training and support for virtual assistants and business owners in Australia. The owner, Rosie Shilo is located in Melbourne, AU. Most of the VAs and businesses joining the membership program are […]
Overall Rating55555
Quality of Work55555
Communication55555
Value55555
Sigrid Sigrid is a subscription-based, professionally managed virtual assistant service that is available across different time zones and tailored to your preferences. The company is headquartered in Singapore, with additional offices in Denmark and the Philippines. The Virtual Assistants (VAs) and […]
Overall Rating55555
Quality of Work55555
Communication55555
Value55555
Virtual Eases Virtual Eases is a virtual assistant company based out of India. They are an excellent choice for businesses that want to improve efficiency, reduce administrative workload, and increase productivity through reliable virtual assistance. With their comprehensive services, flexible pricing plans, […]
Overall Rating55555
Quality of Work55555
Communication55555
Value55555
QuickMonday QuickMonday is a virtual assistant company specializing in providing dedicated virtual assistants to small and medium-sized companies across the globe. The company is based in Kandy, Sri Lanka. All of their virtual assistants are also based in Sri Lanka, and […]
Overall Rating55555
Quality of Work55555
Communication55555
Value55555
Outsource School Outsource School is a hands-on platform that gives you access to top training courses and resources created by successful 8-figure entrepreneurs. For a monthly or annual fee, you can access dozens of training courses. These courses outline all the processes […]
Overall Rating44444
Quality of Work55555
Communication55555
Value44444
Bench.co Bench is America’s largest remote bookkeeping service for small businesses. They serve clients across the United States. The company was formed in New York and has been in operation since 2002. They relocated to Vancouver, BC in 2013, and this […]
Overall Rating33333
Quality of Work33333
Communication44444
Value2.52.52.52.52.5
20four7VA 20four7VA (EconMobile LLC dba 20four7VA) is an American-owned virtual staffing agency licensed and insured in Maryland, USA. Their staff and virtual assistants (VAs) are based all over the world and work remotely. Read on for a detailed 20four7VA review. 20four7VA […]
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ProtopVA (Protop VA) ProtopVA is a virtual assistant company from Latin America. They pride themselves on having over 100 professionals working remotely to support your business. Focusing on your needs, they’ll connect you to experienced Latino Virtual Assistants to deliver excellence. They understand […]
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Paro.io Paro.io is a US-based company specializing in matching businesses with highly-vetted financial experts. From finding part-time cover for day-to-day bookkeeping tasks to hiring a CFO, Paro can find you the perfect financial expert for the role. The company has been […]
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EcomBalance EcomBalance is an online bookkeeping service aimed at helping eCommerce and digital businesses better manage their finances. The company is headquartered in Denver, CO, and utilizes both U.S.-based and overseas staff. About EcomBalance The company started operations in 2021 and […]
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Kamel BPO Kamel BPO is a Canadian-owned and operated Business Process Outsourcing (BPO) company based in Clark, Pampanga, Philippines. Since its establishment in 2017, Kamel BPO has built a reputation for providing high-quality, flexible outsourcing solutions. Their focus on recruiting highly educated […]
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Somewhere.com Are you looking for reliable, high-skilled virtual assistants to help streamline your business operations? Whether you’re a small business owner, entrepreneur, or part of a larger organization, Somewhere.com offers a solution that meets the growing demands of today’s fast-paced, globalized […]
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Finance Pal Finance Pal is an online bookkeeping service. They offer a range of bookkeeping and accounting services to small and medium-sized businesses. The company started operations in 2019, so they’re one of the newer online bookkeeping services in the space. Their […]
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Xendoo Xendoo is an online bookkeeping company. They provide weekly and monthly bookkeeping and accounting services to small and medium-sized businesses across the US. The company has been in business since 2015. Their headquarters is based in Fort Lauderdale, FL, and […]
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KPMG Spark KPMG Spark is an online bookkeeping service helping small to medium-sized businesses manage their day-to-day bookkeeping and finances. The company has been in business since 2013. Their headquarters is based in Utah, where their operational staff work, and they have […]
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Bean Ninjas Bean Ninjas is an online bookkeeping and accounting service aimed at helping individuals and small to medium-sized businesses manage their business accounts using the Xero accounting software. The company has been operating since 2015. Their head offices are based in […]
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Pilot Pilot is an online bookkeeping service specializing in providing bookkeeping services for businesses of all sizes. Their goal is to put premium bookkeeping solutions within reach of every business, so you can leave the number crunching to their qualified bookkeepers […]
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ZipBooks ZipBooks is an online bookkeeping and tax reporting service aimed at helping individuals and small to medium-sized businesses manage their financial accounts. The company has been operating since 2015 but didn’t fully release their platform until 2017. They are based […]
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Bookkeeping.com UPDATE: It appears Bookkeeping.com has become unresponsive. Please consider one of these alternatives. Bookkeeping.com is, as the name gives away, an online bookkeeping service. They provide customized bookkeeping solutions for businesses of all sizes, along with some other services to […]
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