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 headquarters and all of their staff are located in Chicago, US.
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About Finance Pal
Target customers for Finance Pal are any business owners and small to medium-sized businesses. If you’re spending time on your business’s bookkeeping but can’t justify the cost or use of a full-time bookkeeper, they want to hear from you.
It’s hard to wear all the hats when you’re operating as an entrepreneur, startup, or small business. Keeping up-to-date with your company’s financial records is time-consuming and requires a certain amount of expertise.
If you’re struggling with either of these aspects of your bookkeeping and financial accounts. Or, you just want to outsource your accounting to free up more of your time, Finance Pal has a team of experienced CPAs and tax practitioners on hand.
When you sign up for one of their monthly plans you’ll be introduced to your dedicated bookkeeper. This is an added benefit when working with bookkeepers and accountants as building trust and familiarity with your business makes the process a lot smoother.
How Finance Pal Works
Finance Pal doesn’t go into a lot of detail about their onboarding process or how they integrate their systems with new clients.
They like to start with a call to get to know you and your business. They will then offer you a free trial and advise you of the best course of action based on your individual needs.
Finance Pal describes their service as a “One-stop-shop” for all aspects of your business’s finances and accounting. To give you an idea of their core services, they group them into the following categories:
- Bookkeeping and Accounting – You can hand over all the day-to-day bookkeeping and accounting tasks so you can focus on other areas of your business.
- Tax Preparation – Preparing business tax returns has to be correct and on time. It’s a weight lifted off your shoulders to outsource this part of your financial accounting.
- Sales and Use Tax – Their team will evaluate your sales tax liability and ensure your records are up-to-date and compliant.
- Entity Formations – They have a team of experts on hand to talk you through your entity formation options and prepare the paperwork for you.
- Recovery and Catchup – Behind on your accounts? No problem, Finance Pal has a specific recovery and catchup plan to get you up-to-date.
- Payroll Solutions – If you have a growing team or have been looking for outsourcing solutions for your payroll it’s a service offered by Finance Pal.
Plans and Pricing
Finance Pal currently has three different pricing plans as follows:
- Basic – $99 per month for remote bookkeeping and accounting services, monthly financial statements and reconciliations, and up to two bank and credit card accounts.
- Plus – $270 per month for all the features in the Basic plan, as well as audit defense, corporate tax return filing, payroll processing for 1-4 employees, and up to four bank and credit card accounts.
- Custom – There is the option to build a custom plan to meet your requirements.
If you want to try their services before committing to a plan, they do offer a free trial period. Finance Pal does not give specific details of how long the trial is or what services you’ll have access to. You need to contact them to discuss your requirements and they’ll work out a custom plan to get you started.
Finance Pal Alternatives
Both offer a similar range of services. Bench has similar pricing, while Bean Ninjas are a little more expensive but offer a wider range of services.
Have you worked with Finance Pal? If so, please leave a review below to help others with their decision.