online accounting services for small business

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The Top 7 Business Accounting Software Tools for Startups
Find the Best Accounting Software in 2021

Smiling businesswoman with ribbon that says "Top 7 Accounting Software Tools."

1. FreshBooks - $7.50 to $25/month

Why you should buy this:

FreshBooks is a leading small business accounting software firm that offers an assortment of invoicing and bookkeeping tools. FreshBooks' accounting software accounts for every business transaction, whether online or offline. Freshbooks offers four premium plans with monthly fees starting at just $15 per month.

With Freshbooks, you will have the tools needed to manage and control your time, finances, and transactions better. With its well-organized platform and visual dashboards, you can keep track of all of your money in real-time, all the time.

Freshbooks makes managing your cash flow easier than most other small business accounting software solutions we reviewed, mainly because they offer a dedicated support team that customizes FreshBooks to suit your business. You also get a free 30-day trial to try the software, which means no financial risk for you.

Who is it for:

When it comes to expenses, most small businesses are overwhelmed by the amount of information they need to keep track of. It's easy to end up duplicating your receipts, and manually entering your payments and other data causes even more confusion and frustration. FreshBooks business accounting software eliminates these problems instantly.

Freshbooks has a clean, user-friendly interface that allows users to easily enter their information and track multiple expense streams. Whether you're paying for employees, supplies, materials, equipment, or space, Freshbooks has you covered with professional and convenient tracking features. You can even use its advanced expense tracking functionality to set up recurring payments (e.g., retainer payments) and easily track your time, sales, and expenses throughout the year.

Basically, everything that an accountant would need to make sure you're getting the most deductions against your income, so you end up paying the least amount in taxes -- that's all tracked within the Freshbooks platform.

Why we picked it:

We picked FreshBooks as the best accounting software for small businesses for a few reasons. For one, they have a dedicated onboarding and support team that customizes and sets up the software for your specific business. And, they don't charge extra for this service.

We also picked this as the best overall small business accounting software because Freshbooks was intentionally developed to fit around your business instead of your business having to fit around the software. This means the software will adapt and scale with your business.

FreshBooks is also feature-rich and integrates seamlessly with Gusto's payroll service (and we love Gusto as a payroll service).

Price Breakdown:

Lite ($7.50 per month)

  • Unlimited customized invoices for five billable clients
  • Unlimited expenses tracking, estimates, and time-tracking
  • Sales tax and report tracking
  • Client profiles and account statements
  • Self-service portal for clients
  • Scheduled late fees and late payment reminders
  • Online credit card payments and ACH transfers
  • Business health reports, tax reports, and performance dashboards
  • Mobile mileage tracking
  • Project budget and billing management

Plus ($12.50 per month)

  • All features in the Lite package
  • Unlimited customized invoices for 50 billable clients
  • Ability to accept e-Signatures
  • Unlimited proposals
  • Client retainers
  • Double-entry accounting reports (including general ledger, trial balance, and chart of accounts)
  • Bank reconciliation
  • Accountant access features

Premium ($25 per month)

  • All features in the Lite and Plus packages
  • Unlimited customized invoices for unlimited billable clients
  • Customized email templates and signatures
  • Automated dynamic client emails
  • Accounts payable management
  • Project profitability management

Select (Varies)

  • All features in the Lite, Plus, and Premium packages
  • Removal of FreshBooks branding in client emails
  • Lower credit card transaction fees
  • Capped ACH fees
  • Subscription-based payments - a combo of recurring billing and automation
  • Over-the-phone credit card payments
  • Secure Card Storage for client profiles
  • Ability to charge client credit cards
  • Includes two team member accounts
  • Account manager
  • Customized onboarding services
  • Data migration services
  • Advanced payment capabilities

Pros and Cons:

Pros:

  • Full service and support right out of the gate
  • Full customization to meet the needs of your business
  • Free migration from any other business accounting software
  • Thorough onboarding and training
  • Deep business analytics and insights (measure and track your success)
  • Real-time inventory tracking (unlimited inventory tracking and invoicing)
  • Easy data entry and journal entry updates
  • Time tracking (great for tracking retainer hours)
  • Multiple app integrations
  • Keep up with products and services
  • Cloud-based (manage your financials entirely online)
  • Useful add-ons (e.g., virtual terminal to collect payments from invoices)
  • Manage tax and other financial information effortlessly
  • Highly praised Android and iOS apps (great for checking financials on the go)

Cons:

  • FreshBooks requires talking with a support specialist first before purchasing because they want to help you even before you become a customer (no wonder they're the best overall accounting software).

Customer Service:

Aside from being the best invoicing software for your small business, Freshbooks offers the best customer service too. Freshbooks' customers rave about the quality service they receive. On GetApp, FreshBooks averages a 4.6 out of 5 stars. In fact, they have more users than any other small business accounting software, making them a strong contender in the industry.

FreshBooks logo

2. QuickBooks Online - $15 to $50/month

Why you should buy this:

The main reason you might consider buying QuickBooks Online is that it handles well, and most accountants are familiar with how it works. So using it makes sense if you're hiring an accountant to do your books.

QuickBooks has been around a long time, and the software has only gotten better over the years. The online version is easy enough to navigate intuitively, but it would behoove you to take advantage of the online support or, at the very least, watch some YouTube videos where users demo the software for you using screencasting software.

Who is it for:

QuickBooks Online is great for small business owners who need premium business accounting software. If you've already used QuickBooks in the past, say the desktop version of QuickBooks, you may want to upgrade to the online version. The online version gives you access from anywhere, plus you get access to the faster loading Android and iOS mobile apps.

Why we picked it:

We picked QuickBooks as our second choice for the best accounting software for small businesses because of its longevity in the marketplace and its accountant-friendly features.

Price Breakdown:

Each pricing tier is available for 50% off for three months if you purchase a plan without a 30-day trial.

Self-Employed ($7.50 to $15 per month)

  • Import and sort transactions
  • Ability to take photos of receipts with the mobile app
  • Quarterly tax estimation
  • Basic profit and loss, expense, and balance sheet reports
  • Mileage tracking with smartphone GPS

Simple Start ($12.50 to $25 per month)

  • Import and sort transactions
  • Custom invoices
  • Tracking for invoice statuses and payment reminders
  • Accountant access features
  • Profit and loss, expense, and balance sheet reports
  • Dashboard to track cash flow and reporting
  • Ability to take photos of receipts with the mobile app
  • Mileage tracking with smartphone GPS
  • Cash flow management up to 90 days in advance of transactions
  • Credit card payments with mobile card reader or other apps
  • Integration with ecommerce platforms like Shopify
  • Automatic tax calculations
  • Customized estimates
  • Mobile signatures
  • 1099 contractor management, including preparation and filing

Essentials ($20 to $40 per month)

  • All features in the Simple Start package
  • User-access levels and separate sign-ins for three users
  • Bill management and online payment options
  • Time-tracking for employee time and billable client hours
  • Integration with QuickBooks Time

Plus ($35 to $70 per month)

  • All features in the Simple Start and Essentials packages
  • User-access levels and separate sign-ins for five users
  • Inventory tracking, payments, and vendor management
  • Syncs with platforms like Amazon and Etsy
  • Project profitability tracking

Advanced ($75 to $150 per month)

  • All features in the Simple Start, Essentials, and Plus packages
  • User-access levels and separate sign-ins for 25 users
  • KPI tracking and analysis tools from Fathom
  • Ability to create presentation reports and track individual performances
  • Customized user access
  • Integration with LeanLaw, HubSpot, DocuSign, Bill.com, and Salesforce
  • 24/7 support integration with Priority Circle (separate membership)
  • Free online training courses and webinars
  • Workflow automation
  • Company data restoration
  • Task management

Pros and Cons:

Pros:

  • Perfect for those familiar with QuickBooks Desktop
  • Popular accounting software for small businesses (over 4 million customers)
  • Integrates with hundreds of third-party apps
  • Cloud-based so you can use it anywhere
  • Accountant-friendly software

Cons:

  • The online version is not as robust as the QuickBooks Desktop version
  • Customer support is lacking with long wait times
  • Necessary add-ons and integrations (e.g., payroll, etc.) are expensive, making the software seem overpriced when compared to other small business accounting software options

Customer Service:

Unfortunately, QuickBooks has a 1.4 out of 5 star Trustpilot rating, which raises some concerns. However, the Android mobile app has a 4 out of 5 star rating on Google. And, even better, the Apple iOS App rates QuickBooks 4.7 out of 5 stars.

QuickBooks Online logo

3. Xero - $11 to $62/month

Why you should buy this:

Xero is best if you need a complete small business accounting software solution to manage your books but prefer a more minimalistic and simplistic accounting software for small business. Xero handles income and expenses, inventory management, A/R and A/P, bank and credit card tracking, and other accounting tasks that small business owners need, but with fewer reports and other less necessary features.

Who is it for:

Xero is best suited for less complex businesses, more like your mom and pop shops, one-off restaurants, even Etsy stores, think self-employed individuals. It is great for small business owners needing fewer accounting features.

Why we picked it:

We like Xero as our third choice for the best accounting software for small business because of its simplicity and ease of use. Xero's cloud-based accounting software does what you would expect, like record transitions, calculate tax, and track both inventory and financial data. Plus, you can easily integrate with Gusto Payroll for an additional fee.

Price Breakdown:

Early ($11 per month)

  • Ability to send quotes and up to 20 invoices online
  • Tracking for up to five bills
  • Bank reconciliation
  • Data capture with Hubdoc
  • Connection with banks
  • Inventory management
  • Accounting reports
  • Online invoice payments
  • Purchase orders
  • File storage
  • Contact management
  • Sales tax management

Growing ($32 per month)

  • All features in the Early package
  • Ability to send unlimited quotes and invoices online
  • Unlimited bill tracking
  • Bulk transaction reconciliation

Established ($62 per month)

  • All features in the Early and Growing packages
  • Multi-currency capabilities
  • Project tracking
  • Ability to take photos of receipts
  • Expense monitoring

Pros and Cons:

Pros:

  • Easy to use bookkeeping software
  • Simple inventory management to run your business smoothly
  • Run basic reports and analytics to measure the health of your small business
  • Record products and services in the business ledger
  • Calculate tax and other miscellaneous expenses
  • Manage and make manual journal entries as needed
  • Lots of payment processing options through various app integrations
  • Good software for self-employed persons
  • Easy to use mobile app

Cons:

  • Business owners get fewer features than with other small business accounting software
  • Fewer reports than FreshBooks and Intuit QuickBooks
  • Less customer service and support options
  • Inventory management is quite basic
  • Xero charges for ACH transactions

Customer Service:

Xero also boasts excellent customer feedback, as they maintain a 4.4 average score out of 5 on GetApp. We love how they’re constantly evolving and improving their platform, which is a major reason Xero nears the top of our best for small businesses accounting tools review.

Xero logo

4. Wave Accounting - Free, with à la carte extras

Why you should buy this:

You don't have to buy Wave Accounting as it's a free accounting and invoicing software platform. However, you'll likely want to buy the à la carte extras, including Wave's payroll processing ($35 per month) and Wave's payments (2.9%-3.4% plus $0.30 credit card processing; 1% ACH fees).

If you operate a small service company, Wave Accounting will probably work for your business needs.

Who is it for:

Wave Accounting is best suited for small service businesses, more like home cleaning businesses, window washing, etc. It is great for small business owners needing very few features.

Why we picked it:

We like Wave Accounting because it's free while letting you track your income and expenses and lets you do other very basic finance functions.

Obviously, being a truly free, 100% cloud-based product has its limitations. Still, for those who don’t need a large variety of advanced features, there’s no sense in paying for functions you won’t use.

Features:

  • Unlimited income and expense tracking
  • Sales tax tracking
  • Ability to add unlimited partners, collaborators, or accountants
  • Double-entry system
  • Reports for overdue invoices and bills, profit and loss, and cash flow
  • Unlimited bank account and credit card connections
  • Tax categories for income and expenses
  • Ability to run multiple businesses on a single account
  • Dashboard performance features
  • Unlimited invoices
  • Recurring billing with automated reminders
  • Credit card and ACH payments (additional processing fees)
  • Payroll services (additional monthly fee)

Pros and Cons:

Pros:

  • Free software for small businesses
  • Send unlimited free invoices
  • Great for a small service business for income and expense tracking

Cons:

  • Unlikely to scale with your business
  • Very basic features
  • Extras are more costly than other options

Customer Service:

Wave Accounting does not offer phone support, which is understandable since the software is free. Even so, the website chat feature uses a bot. No real person there either!

If you want a real answer, you have to email the company and wait for someone to research your query and then get back to you. We sent a test email and never got a response back.

TrustRadius rates Wave Accounting 7.3 out of 10, which is roughly 3.5 out of 5 stars.

Wave Accounting logo

5. Sage - $10/month to $842/year

Why you should buy this:

Sage is a world-leading business applications and enterprise resource planning (ERP) software development company. The applications are designed to meet all your business accounting needs. Some of Sage's comprehensive features consist of balanced scorecards, manufacturing modules, front-line control, project accounting, and lots more.

Sage also offers small business solutions, which consist of accounting, invoicing, and payment processing through various integration partners offers a variety of other endless possibilities for helping you manage and track your business's financials with complete accuracy.

Who is it for:

Sage is suitable for any size and any type of business. For small businesses, though, Sage offers two cloud-based programs, namely, the basic Sage Accounting software and the more robust cloud-based desktop hybrid accounting Sage 50cloud software.

The advanced accounting tools in Sage provide financial and accounting information and insights to management and executives. Besides businesses, Sage's software solutions are used widely by financial service firms and global manufacturing companies.

Why we picked it:

Sage made our small business accounting list mainly because it offers several great accounting solutions for small businesses. The pricing for these solutions starts low and runs higher depending on the solution you choose.

Sage Accounting Price Breakdown:

Sage Accounting is really good for startups, small businesses, solopreneurs, retail service spaces, where you aren't really doing a lot of in-depth inventory management.

Sage Accounting Start ($10 per month)

  • Invoice creation and delivery
  • Finance tracking
  • Automatic bank reconciliation

Sage Accounting ($25 per month)

  • All features in the Start package
  • Unlimited user support
  • Estimate creation and delivery
  • Cash flow forecasts
  • Purchase invoice management
  • Three-month trial of AutoEntry

Sage Pros and Cons:

Pros:

  • Completely cloud-based to easily manage income and expenses
  • Real-time banking integration
  • Accountant friendly reports

Cons:

  • Not so great for nonprofits, doesn't handle grant management
  • Doesn't currently have a payroll integration (not even an integration partner)
  • Only for a single company, so no consolidated reporting
  • Does not have a true budgeting module
  • Doesn't do well for job costing or project management

Sage 50cloud Price Breakdown:

Sage 50cloud is desktop-based with a cloud-based hybrid functionality. Sage 50cloud used to be called Peach Tree. It is truly a desktop application, but you use the cloud to back it up to store and save your data.

Sage 50cloud is more robust than Sage Accounting, meaning it has more features.

Pro ($340 per year)

  • Expense and revenue management
  • Instant bill pay
  • Simple customer invoicing
  • Automatic bank reconciliation
  • Inventory tracking and management
  • Integration with Microsoft 365
  • Sage Security Shield protection
  • Basic job costing management
  • Automatic updates
  • Unlimited phone and online chat support

Premium ($510 per year)

  • All features in the Pro package
  • Detailed job costing management
  • Audit trails
  • Advanced budgeting tools
  • Role-based security

Quantum ($842 per year)

  • All features in the Pro and Premium packages
  • Ability to manage multiple companies at once

Sage 50cloud Pros and Cons:

Pros:

  • More robust and feature-rich than Sage Accounting
  • Run loads of insightful reports

Cons:

  • Expensive compared to other better solutions
  • No automatic or real-time updates are possible when linking a business bank account

Customer Service:

Trustpilot gives Sage 4.6 stars out of 5. And 85% of customer reviews are rated excellent!

Sage logo

6. LessAccounting - $24 to $36/month

Why you should buy this:

If you don't need fancy apps or complex software to manage your business, LessAccounting could be what you're looking for. With LessAccounting, you log in to your account through their website and record your business transactions. It is that simple!

Who is it for:

LessAccounting is an excellent choice for freelancers and sole proprietors. LessAccounting applies the “less is more” philosophy to small business accounting. If you do not have complex business needs, then you may want to check into LessAccounting.

Important Note: LessAccounting is a "hands-on" accounting software where you must manually manage your books using their online platform.

Why we picked it:

We like LessAccounting because it is so simple to use. There are no apps to download or software to learn. You simply plug your financials into the LessAccounting website and generate the reports you need.

LessAccounting also offers a four-tier bookkeeping service option as well. They'll keep the books for you. You pay based on your monthly expenses, and come tax time, you're ready to pass them off to your accountant.

Price Breakdown:

Invoice Only (Free)

  • Up to three active customers
  • Basic invoices
  • Unlimited team members
  • Customer management
  • Payment integration with Stripe, PayPal, and Square

Lite ($24 per month)

  • Unlimited customer invoices, expense entries, estimates, and team members
  • Automated bank imports
  • Mileage tracking
  • Payment acceptance
  • Budget creation
  • Tax reports
  • CPA integration

Team ($36 per month)

  • All features in the Lite package
  • Unlimited proposals
  • Recurring invoices
  • Late payment reminders
  • Time tracking
  • Basic bookkeeping help
  • Bank reconciliation
  • Advanced tax reports
  • Multiple businesses

Pros and Cons:

Pros:

  • Simple accounting solution for the solopreneur or freelancer
  • Great for business owners with basic accounting needs

Cons:

  • Can't handle complex accounting situations
  • Expensive compared to other options

Customer Service:

LessAccounting has a chat feature on its website that is powered by a bot. When we reached out for support, we were asked to enter our email so that someone from the team could get back in touch with us. That being said, TrustRadius gives LessAccounting 5 out of 5 stars. It doesn't get better than that!

LessAccounting logo

7. 1-800Accountant - $115 to $349/month (paid annually)

Why you should buy this:

We reccommend 1-800Accountant if the idea of doing your own accounting threatens your peace of mind, let alone your way of life. They are a virtual bookkeeping and accounting firm that handles your accounting for you.

Who is it for:

1-800Accountant is for small businesses that don't want to take on the responsibility of managing their own accounting.

Why we picked it:

We like 1-800Accountant because they are a reputable company with very good customer service and customer reviews and they are much less expensive than hiring a traditional accounting firm. They are a great low-cost solution for small businesses owners who don't wish to do their own accounting.

Price Breakdown:

Starter ($115 per month)

  • Membership for 1-800Accountant portal
  • Dedicated accountant for your business
  • 24/7 advice
  • Tax planning
  • Quarterly reviews

Growth ($219 per month)

  • All features in the Starter package
  • Personal and business tax preparation

Executive ($349 per month)

  • All features in the Starter and Growth packages
  • Bookkeeping capabilities
  • Priority support
  • Financial reports

Enterprise (Varies)

  • Customized accounting package for experienced businesses

Pros and Cons:

Pros:

  • You don't have to do your own bookkeeping and accounting
  • Trusted and certified accountants manage all your business finances

Cons:

  • Less hands-on account management

Customer Service:

1-800Accountant gets 4.7 out of 5 stars on Trustpilot. Our experience talking with their customer support was fantastic. 1-800Accountant's customer service is helpful and responsive.

Business Accounting Software Pros and Cons

Business Accounting Software Pros

  • With accounting software, the chance of human error is less likely. All accounting software tools are extremely accurate (provided you enter the right information).
  • By using business accounting software, you’ll be able to save countless hours over the lifetime of your business. Your financial reports are totally automated.
  • If your business needs to invoice customers, you can customize and send them out with your accounting software. This’ll help you get paid faster!
  • No more calculating on your own because most accounting software automatically calculates your financials for you.
  • With the built-in expense tracking, accounting software is extremely useful for keeping an eye on where your money’s going.

Business Accounting Software Cons

  • Since many of the accounting software tools are web-based, an internet connection is required. Even the ones that aren’t cloud-based need web access from time to time for syncing purposes.
  • Accounting software most likely won’t be the ‘end-all’ for keeping finances in check. It’s likely that you’ll still need an accountant depending on the nature of your business.

Which is the Best Accounting Software?

There are a lot of different accounting software options in the marketplace. The best accounting software is the one that serves your business needs best. Based on our hundreds of hours of research reviewing all of these companies, this list we've put together for you above should give you a good idea of which small business accounting software will be best for your particular business. If you want to get a more complete picture of the tools that interest you, read our full reviews or sign up for free trials to the ones that interest you.

In general, we prefer FreshBooks due to their easy to use software and great customer support. They’re one of the best accounting software tools available for entrepreneurs in most fields. It's flexible, powerful and affordable.

FreshBooks

Frequently Asked Questions

What is the best accounting software for small business?

The best accounting software for small business offers you the most features, the best price, and is one that scales with your business. Do not purchase based on promotional offers. Purchase software you can learn easily that you'll use for years.

Is Zoho accounting software free?

Zoho accounting software, called Zoho Books, is free with revenues less than $50,000 per year. Then prices rise to $15 per month for a Zoho Books Standard Account, $40 per month for a Zoho Books Professional Account, and $60 per month for a Zoho Books Premium Account. Zoho Books is free.

What is the best small business accounting app?

Here are the best small business accounting apps:

  • FreshBooks Accounting Mobile App: Best Overall
  • QuickBooks Accounting Mobile App: Best for Accountants
  • Xero Accounting Mobile App: Best for Simplicity
  • Wave Accounting Mobile App: Best for Service Businesses
  • Sage Accounting Mobile App: Best for Freelancers
  • 1-800Accountant Mobile App: Best for Self Employed

What is the best accounting software for self-employed?

The best accounting software for self-employed professionals is 1-800Accountant. 1-800Accountant handles all bookkeeping and accounting for busy on-the-go self-employed professionals. With 1-800Accountant, you don't have to worry about the stress of keeping your own books.

Is free accounting software really free?

Yes, there is free accounting software that is really free. Free accounting software is basic at best, and not everything free is worth using, especially when it comes to business bookkeeping. Also, a free trial for online accounting software is something different than free accounting software.

Does FreshBooks track mileage?

Yes, track mileage by opening the FreshBooks app on your smartphone and it will automatically track all the miles (or kilometers) that you drive and automatically import this data into your FreshBooks account. 2021 standard mileage deduction is $0.56 per mile that you can write off on your taxes.

Источник: https://startupsavant.com/7-business-accounting-software-tools

Accounting and Bookkeeping Services for Small Businesses

+ What type of bookkeeping do you do?

With over 30 years of bookkeeping experience, we offer services tailored to our clients’ needs. Whether you are a small business owner just getting started or trying to meet growing demands, we are here to help!

+ Is my data safe?

This is a very important question especially with today’s technology. All of our client files are hosted on a secure SharePoint server. Any software that we utilize is hosted on a secure server behind our firewall.

+ Is it only for Small Businesses?

We are here to help businesses of any size whether you are just getting started or trying to expand, we have you covered.

We will work with you as you grow and manage our services to meet your specific needs. Depending on the needs of your business, we can create a monthly budget or an hourly rate.

+ What accounting software do you work with?

We can support our clients utilizing whichever software they currently use or help them decide which is best for their business. Currently the most popular types of software are QuickBooks, Xero, FreshBooks, Wave, Zoho, ADP.

+ Do you give quotes over the phone?

Definitely – we are happy to discuss how we can help!

+ Will you work with my CPA for filing taxes?

We work as a liaison with our clients’ CPA to ensure seamless and accurate reporting and tax filings.

Источник: https://bottomlinestrategiesllc.com/accounting-and-bookkeeping-services

Cloud Bookkeeping Services

SRJ offers a broad-spectrum of cloud accounting and bookkeeping services as a full-service cloud accounting and bookkeeping firm to fulfill your business’s requirements. Shifting your business to a cloud accounting system leverages significant advantages and entails efficiencies for your business.

Cloud accounting and bookkeeping for small businesses have increasingly been widely integrated throughout the industry. Cloud accounting allows small businesses to access robust technology, modern training and benefit from automation, which tend to be difficult and costly to implement internally on a small scale.

Cloud accounting systems allow you to access your business’ financial position anytime, anywhere. Furthermore, cloud accounting for small companies provides accounting and bookkeeping services remotely by qualified experts, and the work can then be accessed from an online network. Cloud accounting firms save time for companies and are an excellent cost-effective option where businesses can spend more resources and time improving their business and focusing on their core competencies. Moreover, cloud accounting ensures consistency in the delivery and maintenance of accounting systems and financial management instead of inconsistencies resulting from internal accountants or bookkeepers.

Cloud Accounting

In this ever-changing world and fast-paced environment that is becoming heavily reliant on technology, clients need to work with accountants that transform and adapt to these changes. SRJ is a cutting-edge and forward-looking organization that demonstrates a genuine commitment to continuous technological innovations & advancements to adjust to our rapidly evolving world. We give our clients the flexibility to control and manage their financial details remotely anywhere at any time, which is paramount to our clients’ growth and success. We empower and support our clients to run their business with financial transparency comfortably.

SRJ utilizes the best modern technology to deliver the utmost reliable and optimal services to provide custom-tailored support relevant to your business needs. Accounting and bookkeeping support is offered remotely to clients across Canada. With cloud accounting and bookkeeping services, you can benefit from easy access, frequent information backup, security, automatic financial performance and information, and more.

SRJ has a team of specialized and expert accountants in cloud accounting that can support your small business in a transition to implement cloud accounting software and leverage its benefits.

Our services include

Payroll support:

Maintaining Payroll Software
Adding New Employees
Managing bi-weekly payroll cycles
Record of Employments
EHT
WSIB Reporting
T4 Summary and Slips for Employees

Bookkeeping services:

Monthly data entry and transaction review
Monthly bank account reconciliation
Monthly credit card expense identification
QuickBooks Online (QBO) review
General Bookkeeping Support
Management Reports Including Key Financial Data
Accounts payable Support and Payables Management
Invoicing and Accounts Receivable Management

Business Tax Compliance including but not limited to:

Preparation of notice to reader financial statements
Preparation of corporate and personal income tax returns
Preparation of GST/HST returns
T4/T5 slip and information returns
Canada Revenue Agency Correspondence and audit assistance

Advisory services in relation to:

Cross border tax matters
Mergers and acquisitions
Sale of a business
Restructuring and estate planning

Fill out this form to schedule a phone call

SRJ Chartered Accountants has two conveniently located offices in the Greater Toronto Area. We are open to meeting clients at either locations, downtown Toronto office or head office in Mississauga. We have developed a team of highly skilled staff who are educated from the most prestigious tax and accounting schools in Canada. If you are looking for accountants or tax professionals specializing in servicing dentists in Toronto then come speak to our professionals at the firm and learn how we can help with all your tax and accounting needs. Learn about accountant for lawyers Toronto.

Источник: https://www.srjca.com/cloud-accounting/

Small Business Accounting 101: How to Set Up and Manage Your Books

If you’ve just launched or are about to launch your online store, congratulations! It takes uncommon passion and perseverance to get to where you are today.

However, as you know, small business owners often have a constant flood of satisfying milestones, coupled with expanding to-do lists. With your launch, you’ll need to get on top of the accounting tasks that come along with owning a store.

This list of accounting steps will give you the confidence to know you’ve covered your bases and are ready to move on to the next item on your small business finance to-do list.

Get your accounting in order 💰

Bookkeeping 101

Bookkeeping is something that you either have to learn or outsource when you’re running a business. Luckily, it’s possible to learn how to manage your own books and there are a few notable benefits to tackling it yourself.

Learn how to manage your books

Accounting basics for small businesses

1. Open a bank account

After you’ve legally registered your business, you’ll need somewhere to stash your business income. Having a separate bank account keeps records distinct and will make life easier come tax time.

It also protects your personal assets in the unfortunate case of bankruptcy, lawsuits, or audits. And if you want funding down the line, from creditors or investors, strong business financial records can increase the likelihood of approvals. 

Note that LLCs, partnerships, and corporations are legally required to have a separate bank account for business. Sole proprietors don’t legally need a separate account, but it’s definitely recommended.

Start by opening up a business checking account, followed by any savings accounts that will help you organize funds and plan for taxes. For instance, set up a savings account and squirrel away a percentage of each payment as your self-employed tax withholding. A good rule of thumb is to put 25% of your income aside, though more conservative estimates for high earners might be closer to one third. 

Next, you’ll want to consider a business credit card to start building credit. Credit is important for securing funding in the future. Corporations and LLCs are required to use a separate credit card to avoid commingling personal and business assets.

Before you talk to a bank about opening an account, do your homework. Shop around for business accounts and compare fee structures. Most business checking accounts have higher fees than personal banking, so pay close attention to what you’ll owe.

To open a business bank account, you’ll need a business name, and you might have to be registered with your state or province. Check with the individual bank for which documents to bring to the appointment.

2. Track your expenses

The foundation of solid business bookkeeping is effective and accurate expense tracking. It’s a crucial step that lets you monitor the growth of your business, build financial statements, keep track of deductible expenses, prepare tax returns, and legitimize your filings.

From the start, establish an accounting system for organizing receipts and other important records. This process can be simple and old school (bring on the Filofax), or you can use a service like Shoeboxed. For US store owners, the IRS doesn’t require you to keep receipts for expenses under $75, but it’s a good habit nonetheless.

shoeboxed

There are five types of receipts to pay special attention to:

  1. Meals and entertainment. Conducting a business meeting in a café or restaurant is a great option, just be sure to document it well. On the back of the receipt, record who attended and the purpose of the meal or outing.
  2. Out-of-town business travel. The IRS and CRA are wary of people claiming personal activities as business expenses. Thankfully, your receipts also provide a paper trail of your business activities while away.
  3. Vehicle-related expenses. Record where, when, and why you used the vehicle for business, and then apply the percentage of use to vehicle-related expenses.
  4. Receipts for gifts. For gifts like tickets to a concert, it matters whether the gift giver goes to the event with the recipient. If they do, then the expense would be categorized as entertainment rather than a gift. Note these details on the receipt.
  5. Home office receipts. Similar to vehicle expenses, you need to calculate what percentage of your home is used for business and then apply that percentage to home-related expenses.

Starting your business at home is a great way to keep overhead low, plus you’ll qualify for some unique tax breaks. You can deduct the portion of your home that’s used for business, as well as your home internet, cellphone, and transportation to and from work sites and for business errands.

Any expense that’s used partly for personal use and partly for business must reflect that mixed use. For instance, if you have one cellphone, you can deduct the percentage you use the device for business. Gas mileage costs are 100% deductible, just be sure to hold on to all records and keep a log of your business miles (where you’re going and the purpose of the trip).

3. Develop a bookkeeping system

Before we jump into establishing a bookkeeping system, it’s helpful to understand exactly what bookkeeping is and how it differs from accounting. Bookkeeping is the day-to-day accounting process of recording business transactions, categorizing them, and reconciling bank statements.

Accounting is a high-level process that looks at business progress and makes sense of the data compiled by the bookkeeper by building financial statements. As a new entrepreneur, you’ll need to determine how you want to manage your books:

  1. You can choose to go the DIY route and use software like QuickBooks or Wave. Alternatively, you could use a simple Excel spreadsheet.
  2. You have the option of using an outsourced or part-time bookkeeper that’s either local or cloud-based.
  3. When your business is big enough you can hire an in-house bookkeeper and/or accountant.

With so many options out there, you’re sure to find a bookkeeping solution that will suit your business needs.

Canadian and US business owners need to determine whether they’ll use the cash or accrual accounting methods. Let’s take a look at the difference between the two.

  • Cash method. Revenues and expenses are recognized at the time they are actually received or paid.
  • Accrual method. Revenues and expenses are recognized when the transaction occurs (even if the cash isn’t in or out of the bank yet) and requires tracking receivables and payables.

Technically, Canadians are required to use the accrual method. To simplify things, you can use the cash method throughout the year and then make a single adjusting entry at year end to account for outstanding receivables and payables for tax purposes.

US business owners can use cash-based accounting if revenues are less than $5 million, otherwise they must use the accrual method. 


Bookkeeping 101

Bookkeeping is something that you either have to learn or outsource when you’re running a business. Luckily, it’s possible to learn how to manage your own books and there are a few notable benefits to tackling it yourself.

Learn how to manage your books

4. Set up a payroll system

Many online stores start out as a one-person show. When you’ve reached the point where it makes sense to hire outside help, you need to establish whether that individual is an employee or an independent contractor.

For employees, you’ll have to set up a payroll schedule and ensure you’re withholding the correct taxes. There are lots of services that can help with this, and many accounting software options offer payroll as a feature. 

For independent contractors, be sure to track how much you’re paying each person. American business owners may be required to file 1099s for each contractor at year end (you’ll also need to keep their name and address on file for this).

1099-misc form

5. Investigate import tax

Depending on your business model, you may be planning to purchase and import goods from other countries to sell in your store. When importing products, you’ll likely be subject to taxes and duties, which is worth noting if you run a dropshipping business. These are the fees your country imposes on incoming goods. Learn about importing goods into the US and Canada, and the associated taxes, so you know the rules from the get-go.

Also, if you’re importing goods, a duty calculator can help you estimate the fees in your own business and plan for costs.

6. Determine how you’ll get paid

When sales start rolling in, you’ll need a way to accept payments. If you’re a North American store owner on Shopify, you can use Shopify Payments to accept debit or credit card orders. This saves you the hassle of setting up a merchant account or third-party payment gateway.

shopify payments screenshot

If you want to accept credit card payments without using Shopify Payments, you’ll need a merchant account or you can use a third-party payment processor, like PayPal, Stripe, or Square. A merchant account is a type of bank account that allows your business to accept credit card payments from customers. 

If you use a third-party payment processor, fees vary. Some processors charge an interchange plus rate, typically around 2.9% + $0.30 per transaction. Others charge flat fees for each transaction, while some have a monthly membership model for unlimited transactions. You can consult this list to help you find a payment gateway that will work for your location.

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7. Establish sales tax procedures

The world of ecommerce has made it easier than ever to sell to customers outside of your state and even country. While this is a great opportunity for brands with growth goals, it introduces confusing sales tax regulations. 

When a customer walks into a brick-and-mortar retail store, they pay the sales tax of whatever state or province they make the purchase in, no matter if they live in that city or they’re visiting from somewhere around the world. However, when you sell online, customers may be located in different cities, states, provinces, and even countries.

Canadian store owners only need to start collecting GST/HST when they have revenues of $30,000 or more in a 12-month period. You can submit the GST/HST you collect in installments. If you want, you can collect GST/HST even if you don’t earn this much in revenue, and put it toward input tax credits. 

Selling to international customers can be easier than domestic sales. Canadian store owners don’t need to charge GST/HST to customers who are outside of Canada. 

For US store owners, sales tax gets a bit trickier. You’ll need to determine if you operate your business in an origin-based state or a destination-based state. In the former, you must charge sales tax based on the state where you run your business. The latter requires sales tax to be applied based on the purchaser’s location. 

International purchases are tax exempt for US-based businesses. This can all get a bit complicated, so check in with your accountant for detailed information about your specific state’s regulations regarding international sales tax.

8. Determine your tax obligations

Tax obligations vary depending on the legal structure of the business. If you’re self-employed (sole proprietorship, LLC, partnership), you’ll claim business income on your personal tax return. Corporations, on the other hand, are separate tax entities and are taxed independently from owners. Your income from the corporation is taxed as an employee.

Self-employed people need to withhold taxes from their income and remit them to the government in lieu of the withholding that an employer would normally conduct. For American store owners, you’ll need to pay estimated quarterly taxes if you’ll owe more than $1,000 in taxes this year. Canadians have it a little easier; if your net tax owing is more than $3,000, you’ll be required to pay your income tax in installments.

9. Calculate gross margin

Improving your store’s gross margin is the first step toward earning more income overall. In order to calculate gross margin, you need to know the costs incurred to produce your product. To understand this better, let’s quickly define both cost of goods sold (COGS) and gross margin.

  • COGS. These are the direct costs incurred in producing products sold by a company. This includes both materials and direct labor costs.
  • Gross margin. This number represents the total sales revenue that’s kept after the business incurs all direct costs to produce the product or service.

Here’s how you can go about calculating gross margin:

Gross margin (%) = (revenue - COGS) / revenue

You can also use our free profit margin calculator to plug in your numbers for a quick calculation. 

shopify profit margin calculator

The difference between how much you sell a product for and how much the business actually takes home at the end of the day is what truly determines your ability to keep the doors open.

10. Apply for funding

There are many scenarios where a growing ecommerce business might need to secure external business financing, be it through a line of credit, investors, a small business loan, or even a business partner. 

For instance, you might have an unexpected downturn in sales due to uncontrollable external circumstances, or maybe you need a financial boost during slow periods in a seasonal business. Brands with big growth goals often need to secure funding to make investments in new product developments, inventory, retail stores, hiring, and more.

Remember, to get a small business loan, you’ll likely have to provide financial statements—a balance sheet and income statement at the very least, possibly a cash flow statement as well. 

But before you sign off on the debt, it’s important to make sure the numbers make sense. In other words, it’s a good idea to calculate the ROI of the loan. Add up all the expenses you need the loan to cover, the expected new revenue you’ll get from the loan, and the total cost of interest. You can use our business loan calculator to find out the total cost.

shopify small business loan calculator

11. Find high-quality accounting partners

As a business owner, you'll want to have an understanding of generally accepted accounting principles (GAAP). It’s not a rule, but it helps you measure and understand your company’s finances. 

If you need a little extra financial planning help or guidance, many small business accountants and financial professionals can help you get more control of your money. There are a few individuals you might want to consider enlisting: 

  • Accountant. A small business accountant can advise at many different points, including your business structure, creating financial statements, obtaining necessary licenses and permits, and even writing a business plan. You can write yours using our free business plan template. 
  • Certified public accountant (CPA). In case of an audit, a CPA is the only individual who can legally prepare an audited financial statement. 
  • Bookkeeper. The bookkeeper manages the day-to-day records, regularly reconciling accounts, categorizing expenses, and managing accounts receivable/accounts payable. 
  • Tax preparer. Your tax preparer fills out necessary forms and may file them on your behalf during tax season. Some will also set up your estimated tax payments. 
  • Tax planner. These professionals help optimize your taxes before you file them, helping you learn ways to lower your tax burden. 

12. Periodically reevaluate your methods

When you first start out you may opt to use a simple spreadsheet to manage your books, but as you grow you’ll want to consider more advanced methods like QuickBooks or Bench. As you keep growing, continually reassess the amount of time you’re spending on your books and how much that time is costing your business.

The right bookkeeping solution means you can invest more time in the business with bookkeeping no longer on your plate and potentially save the business money. Win-win!

Best small business accounting software

Every business owner needs good accounting software to remove manual data entry and save time. Accounting software is something you use to access financial information quickly and easily. It lets you check bank balances, understand revenue and costs, predict profitability, predict tax liabilities, and more. 

Once you connect your business bank accounts and credit cards to a software, transactions show up in a queue and are grouped into categories. You can find all this information on your chart of accounts. Once you approve of the categories, transactions automatically settle in your financial statements. 

Some features to look for in your account software include:

  • Platform integrations. You want your accounting software to easily integrate with your ecommerce platform, as well as third-party tools like contract management and more. 
  • Broad reporting. Most accounting software provides basic reporting. You’ll want one that provides advanced reports, such inventory and expenses, so you can monitor financial health quickly. 
  • Sales tax configuration. Knowing what sales tax you’re required to pay and how much to collect is confusing. Find an accounting software that makes it easy to account for sales tax.
  • Excellent support. Check reviews and support ratings to see how a software company’s customer support is. Aim for 24/7 support and self-service centers.

There are many user-friendly accounting software options for small businesses, ranging from free to paid models. You can also browse the Shopify App store for an accounting software that will seamlessly integrate with your ecommerce store.

Check out the following accounting software you could use to manage your books.

Xero

xero

Xero is a cloud-based accounting system designed for small and growing businesses. You can connect with a trusted adviser and gain visibility into your financial health. It can be accessed from any device. Plus, with Xero’s advanced accounting features, you can view cash flows, transactions, and other financial information from anywhere. 

Benefits: 

  • Inventory and stock management
  • Affordable pricing
  • Connects to major banks
  • Easy to view and customizable reports
  • Contact database and segmentation
  • Payroll
  • Mobile app
  • Bank reconciliation

QuickBooks Online

quickbooks

QuickBooks Online is a small business accounting software run by Intuit. You can use it to snap and store receipts for expenses, track your income and expenses, and more. 

QuickBooks shows all your costs, such as inventory and maintenance costs, and every sale your business makes over a period of time. It also offers inventory automation using perpetual inventory tracking, so your sales and inventory cost are updated every time you make a sale. You can also integrate QuickBooks with Shopify to stay organized and up to date. 

Benefits:

  • Mobile app
  • Cloud-based
  • Mileage tracking
  • Contractor management
  • Inventory tracking
  • Separating business and personal expenses

Wave

wave

Wave is a web-based accounting solution built for small businesses. With its bank reconciliation feature, you can link your bank accounts, PayPal accounts, and other data sources to see real-time business transactions. You can also generate reports such as accounts receivable, balance sheets, sales tax reports, and accounts payable.

Benefits:

  • Affordable
  • Competitive credit card processing fees
  • Free accounting and receipt scanning
  • No transaction or billing limits 
  • Unlimited number of users
  • Mobile app

FreshBooks 

freshbooks

FreshBooks is a cloud-based accounting and invoice management software for small businesses. It offers expense management, core accounting, and everything you need to take care of basic bookkeeping. 

Benefits:

  • Easy to use
  • Integrates with Shopify
  • Simple pricing 
  • Customizable invoices
  • Detailed self-service support

Know your numbers to grow your business

Starting a business can be an overwhelming process, but if you follow this list, you’ll have your new store’s finances in order from the beginning. From opening the right type of bank account to determining how much you’ll bring in per product, these tasks will all contribute to your business’ success, now and as it grows.


Ready to create your first business? Start your free 14-day trial of Shopify—no credit card required.

Small business accounting FAQ

How do I do accounting for my small business?

You can set up basic small business accounting records in a spreadsheet, though this is more tedious, prone to manual errors, and time consuming than a comprehensive small business accounting software. At the very least, you’ll want to track expenses and income in a secure cloud-based platform.

How much should I pay an accountant for my small business?

Small business accountants range in price, depending on a number of factors. If you’re hiring in-house, the US Bureau of Labor Statistics estimates accountants make an average annual salary of $70,000. Bookkeepers come in at $17.26 per hour, according to PayScale. If you’re outsourcing to an external contractor or one of many accounting firms, costs vary from a few hundred dollars per month to thousands per month—depending on the level of services provided and complexity of your small business accounting needs, among other factors.

What does an accountant do for a small business?

A small business accountant does many things, including the following:
  • Form your business
  • Help write a business plan
  • Audit your cash flow
  • Find cost-cutting opportunities
  • Advise on business strategy
  • Manage debt
  • Chase down payments
  • Write and submit loan applications
  • Plan budgets
  • Set up your accounting software
  • Manage inventory
  • Recommend business tools
  • Help open new bank accounts
  • Oversee payroll
  • Year-end financial reporting
  • Prevent audits
  • Advise on personal finances

What does a bookkeeper do for a small business?

Bookkeepers handle ongoing, administrative duties for small business accounting, including:
  • Reconcile accounts
  • Record transactions
  • Manage accounts receivable and accounts payable
  • Adjust entries
  • Prepare financial statements
  • Send invoices
  • Set up and manage technology and tools
  • Stay up to date on laws and regulations
  • Basic payroll
  • Work with your accountant, tax preparer, and tax planner

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Источник: https://www.shopify.com/blog/15334373-small-business-accounting-101-ten-steps-to-get-your-startup-on-track

Small Business Accounting

Small businesses today need a strong network of support -- from advice about tax issues and employee benefits, to assistance with technology and marketing. Strategic CPA Accounting & Tax Solutions LLC, a Grand Rapids CPA firm, can be a partner in that network. As your financial advocate, Strategic CPA Accounting & Tax Solutions LLC provides the accounting support you need. By focusing on ways to maximize tax savings, utilizing the most effective technologies, and maintaining an impeccable reputation, we support your success at every step.

At Strategic CPA Accounting & Tax Solutions LLC, we take great pride in providing high quality accounting strategies to our clients. We get to know you and become an insightful financial partner who really understands your goals and challenges. We strive to learn about your pain points and find practical ways to improve efficiency, streamline accounting processes, and save money.

Accounting strategies for your small or midsized business

Call Chris Brown at 616-888-6270 today to find out how we can work together for your success or request a complimentary consultation online now.

Источник: https://www.cpagrandrapids.com/small-business-accounting-services.htm

Accounting for small businesses

Small business accounting - built around you

Get your own accountant and a dedicated bookkeeper, who’ll get to know you and help your business grow, with expert advice and support, giving you complete peace of mind. Our award-winning software will take care of HMRC and Companies House for you, and help with your accounting, bookkeeping, tax returns and much more.

Even better, you can get your hands on a FREE Amazon Gift Card* worth £100 when you sign up to a Small Business package this October! For a free consultation to see how we can help your business, call us on 0333 311 0800 or book a callback.

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Expert accountants, unlimited support

Expert accountants, unlimited support

We help small businesses just like you every single day with IR35, tax responsibilities, expenses, and so much more. Our online accounting software is cloud-based and works on any device, so you can keep on top of things wherever you are - on-site, in the office, or overseas.

Our simple service is built around you, making it quick and easy for you to log in, sort out your accounts, and get back to doing what you do best.

Accountancy support and proactive advice

Your dedicated Crunch accountant is on hand to provide insight and advice tailored to your business, from answering questions about business expenses to giving proactive advice to maximise your personal and your business’ tax efficiency.Your dedicated Crunch accountant is on hand to provide insight and advice tailored to your business, from answering questions about business expenses to giving proactive advice to maximise your personal and your business’ tax efficiency.

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Your own dedicated accountancy team

Your team will provide a fully supported service with your own dedicated Accountancy Relationship Manager to meet all of your accounting needs, alongside an Accountancy Relationship Advisor to complete your monthly bookkeeping, give support on processes, and handle any software queries.

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Award-winning service and cloud software to help you

Your award-winning team will ensure you and your small business meet all of your director responsibilities for submitting your company’s annual accounts and other statutory returns to HMRC and Companies House. Our online accounting software is fully compatible with the government’s Making Tax Digital (MTD) requirements and helps you file VAT returns, send invoices, record expenses, and get a real-time view of how much tax you owe - anytime, anywhere.

Why business owners love us

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November 26, 2021

Professional helpful staff Quick responses and they're really thorough and explain the process step by step :)

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November 16, 2021

Needed to get my business up and running quickly. Crunch took care of so much so quickly. Registering my business with companies house and sorting out the tax side with HMRC - only needing me perform tasks that HMRC do not allow them to perform. The Crunch software is easy to use and there are plenty of helpful videos and documentation. Great service from the Crunch support team, especially from Olivia Beadle. Thank you.

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We’ve worked with thousands of different businesses for over a decade, across a wide range of industries. Our superhero client managers and Chartered Certified Accountants are dedicated to simplifying self-employment for architects just like you. Take a look at some of our Member Stories and see how we can help you.

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"For the past few years I have taken the opportunity to pay my selected accountant at Crunch to look over my accounts and file for me. It’s amazing that you can have that option - especially because they have access to your account so going over everything isn't stressful."

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Choose the best accounting software solution for your business

For NHS workers

Sole Trader Pro

From £24.50

+VAT per month

The perfect package for dental performers that work exclusively for the NHS as a sole trader.

  • First-in-class online accounting software

  • Your own team of expert client managers and accountants

  • We prepare and submit your Self Assessment on your behalf

  • Optional superannuation pension contributions advice and support available for just £20 a month

  • Free bookkeeping software

    Keep track of all your invoices, payments, and expenses using our free online bookkeeping software. Easily upgrade for expert support whenever you need it.

    Record and track expenses

    Easily keep track of all your business expenses, set up recurring expenses and even use our free app (‘Snap’) to take a photo of your receipts and have them automatically uploaded to your Crunch Free software.

    Create and issue invoices

    Send professional invoices to your clients on-the-go, personalise invoices with your company logo, record and track your income, and set up recurring invoices and late payment reminders.

    Connect your bank account

    Link your business bank account to your Crunch software to quickly import bank statements and make reconciling your accounts quicker. Our software integrates with most major banks.

    Easy bank reconciliation

    Import all your transactions from your bank account and match them against expenses and invoices, our software makes suggestions for matching transactions to make your bookkeeping easy.

    Expert advice and support

    Get access to your own team of Crunch client managers and accountants, on hand for day-to-day support. They’ll guide you through your online accounting software, make sure you stay on top of deadlines, and help you with support and advice on dealing with HMRC.

    HMRC registration

    Let us take care of getting you registered with HMRC as a sole trader, as well as for any personal or business taxes.

    VAT registration and filing

    If your business is VAT registered, we can file your VAT returns using our Making Tax Digital compatible software.

    Your software will automatically calculate your VAT transactions and prepare your returns for filing with HMRC every quarter when due.

    Once you’ve approved it, you can submit your VAT return to HMRC with our online accounting software quickly and efficiently.

    We’ll always remind you of upcoming deadlines so you’ll always be aware of your responsibilities. Your software is HMRC compatible and meets the Making Tax Digital (MTD) requirements.

    Self Assessment support

    Our experts will prepare your Self Assessment and submit it to HMRC using our innovative online accounting software. We’ll make sure you’re paying the correct amount of personal tax and claiming all the allowances you’re entitled to. We provide a comprehensive review of your Self Assessment, as well as help with more complex returns, such as advising you on multiple sources of income.

Get started

For private dental performers

Limited Company Pro

From £71.50

+VAT per monTH

The perfect package for dental performers that work exclusively in the private sector as a limited company. Upgrade to Premium for full IR35 support.

  • First-in-class online accounting software

  • Your own team of expert client managers and accountants

  • Self Assessment support available as an optional add-on

  • IR35 support available as an optional add-on. Upgrade to Premium for IR35 as standard

  • Free bookkeeping software

    Keep track of all your invoices, payments, and expenses using our free online bookkeeping software. Easily upgrade for expert support whenever you need it.

    Record and track expenses

    Easily keep track of all your business expenses, set up recurring expenses and even use our free app (‘Snap’) to take a photo of your receipts and have them automatically uploaded to your Crunch Free software.

    Create and issue invoices

    Send professional invoices to your clients on-the-go, personalise invoices with your company logo, record and track your income, and set up recurring invoices and late payment reminders.

    Connect your bank account

    Link your business bank account to your Crunch software to quickly import bank statements and make reconciling your accounts quicker. Our software integrates with most major banks.

    Easy bank reconciliation

    Import all your transactions from your bank account and match them against expenses and invoices, our software makes suggestions for matching transactions to make your bookkeeping easy.

    Expert advice and support

    Get access to your own team of Crunch client managers and accountants, on hand for day-to-day support. They’ll guide you through your online accounting software, make sure you stay on top of deadlines, and help you with support and advice on dealing with HMRC.

    HMRC registration

    We’ll take care of getting you registered with HMRC, as well as for any personal or business taxes, so you’ll be up and running in no time.

    VAT registration and filing

    If your business is VAT registered, your software will automatically calculate your VAT transactions and prepare your returns for filing with HMRC every quarter when due.

    Once you’ve approved it, you can submit your VAT return to HMRC with our online accounting software quickly and efficiently.

    We’ll always remind you of upcoming deadlines so you’ll always be aware of your responsibilities. Our software is HMRC compatible and meets the Making Tax Digital (MTD) requirements.

    Self Assessment support

    Get expert help preparing your Self Assessment, and submit it to HMRC using our innovative online accounting software. We’ll make sure you’re paying the correct amount of personal tax and claiming all the allowances you’re entitled to. We provide a comprehensive review of your Self Assessment, as well as help with more complex returns, such as advising you on multiple sources of income.

    Self Assessment support comes as standard on our Premium package.

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For private & NHS dental performers

Limited Pro + Crunch Free Sole Trader

From £71.50

+VAT per month

The perfect package for dental performers that work for the NHS but also within the private sector, combining our Crunch Free Sole Trader software with our Limited Company Pro service. Upgrade to Premium for full IR35 support.

  • First-in-class online accounting software

  • Your own team of expert client managers and accountants

  • Optional superannuation pension contributions advice and support available for just £20 a month

  • Self Assessment support available as an optional add-on

  • Free bookkeeping software

    Keep track of all your invoices, payments, and expenses using our free online bookkeeping software. Easily upgrade for expert support whenever you need it.

    Record and track expenses

    Easily keep track of all your business expenses, set up recurring expenses and even use our free app (‘Snap’) to take a photo of your receipts and have them automatically uploaded to your Crunch Free software.

    Create and issue invoices

    Send professional invoices to your clients on-the-go, personalise invoices with your company logo, record and track your income, and set up recurring invoices and late payment reminders.

    Connect your bank account

    Link your business bank account to your Crunch software to quickly import bank statements and make reconciling your accounts quicker. Our software integrates with most major banks.

    Easy bank reconciliation

    Import all your transactions from your bank account and match them against expenses and invoices, our software makes suggestions for matching transactions to make your bookkeeping easy.

    Expert advice and support

    Get access to your own team of Crunch client managers and accountants, on hand for day-to-day support. They’ll guide you through your online accounting software, make sure you stay on top of deadlines, and help you with support and advice on dealing with HMRC.

    HMRC registration

    Let us take care of getting you registered with HMRC as a sole trader, as well as for any personal or business taxes.

    VAT registration and filing

    If your business is VAT registered, we can file your VAT returns using our Making Tax Digital compatible software.

    Your software will automatically calculate your VAT transactions and prepare your returns for filing with HMRC every quarter when due.

    Once you’ve approved it, you can submit your VAT return to HMRC with our online accounting software quickly and efficiently.

    We’ll always remind you of upcoming deadlines so you’ll always be aware of your responsibilities. Your software is HMRC compatible and meets the Making Tax Digital (MTD) requirements.

    Self Assessment support

    Our experts will prepare your Self Assessment and submit it to HMRC using our innovative online accounting software. We’ll make sure you’re paying the correct amount of personal tax and claiming all the allowances you’re entitled to. We provide a comprehensive review of your Self Assessment, as well as help with more complex returns, such as advising you on multiple sources of income.

Get started

Not sure what's right for your business?

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Choose the best accounting software solution for your business

Free

Ideal if you’re just starting out, our free software will get you organised and free up your time.

Get started
Free bookkeeping software

Keep track of all your invoices, payments, and expenses using our free online bookkeeping software. Easily upgrade for expert support whenever you need it.

Record and track expenses

Easily keep track of all your business expenses, set up recurring expenses and even use our free app (‘Snap’) to take a photo of your receipts and have them automatically uploaded to your Crunch Free software.

Create and issue invoices

Send professional invoices to your clients on-the-go, personalise invoices with your company logo, record and track your income, and set up recurring invoices and late payment reminders.

Connect your bank account

Link your business bank account to your Crunch software to quickly import bank statements and make reconciling your accounts quicker. Our software integrates with most major banks.

Easy bank reconciliation

Import all your transactions from your bank account and match them against expenses and invoices, our software makes suggestions for matching transactions to make your bookkeeping easy.

Expert advice and support

Upgrade to Pro to get access to your own team of Crunch client managers and accountants, on hand for day-to-day support. They’ll guide you through your online accounting software, make sure you stay on top of deadlines, and help you with support and advice on dealing with HMRC.

Year end accounts

When you upgrade to Pro, when you upgrade to Pro, we’ll make sure your annual accounts are prepared and filed correctly. Once we’ve got the information we need from you, your accounts will be prepared by our expert accountants and filed directly with HMRC and Companies House at the click of a button. For Pro clients, we aim to complete your annual accounts and send them for your approval within 12 weeks.

Director payroll

Our simple Real Time Information (RTI) compliant payroll software makes it easy for Pro and Premium clients to set up a monthly, recurring salary. All your HMRC filing and payslips are done for you, our software connects to HMRC, so any PAYE-related returns can be submitted directly to ensure you’re compliant.

Pro package clients can have up to two directors taking a salary up to the relevant National Insurance (NI) threshold. If you wish to take more than the NI threshold amount as a salary you’ll have to use our add-on payroll service.

Premium package clients can choose any salary level they wish for up to four directors.

If you wish to take on employees who are not also company directors, you’ll have to use our add-on payroll service.

If you have multiple sources of employment income or you're receiving a pension, you may have a non-standard tax code. In this case, we’ll review your situation and you may have to use our add-on payroll service.

Tax-efficient dividends

As well as taking a director’s salary, you’ll usually want to take dividends from your company profits. Crunch makes paying yourself tax-efficiently with dividend payments easy for clients on our Pro and Premium packages. Our software lets you make quick and easy dividend payments at the click of a button and produces all the records you’ll need to keep for HMRC.

Company tax filings

Upgrade to Pro or Premium and we’ll prepare all your statutory company filings, including Corporation Tax and VAT.

We’ll make sure your annual accounts are prepared and filed correctly. Once we’ve got the information we need from you, your accounts will be prepared by our expert accountants and filed directly with HMRC and Companies House at the click of a button.

We make Corporation Tax calculation and filing straightforward. Your Crunch accountants will prepare, check, and file your Corporation Tax returns for you. We’ll also file your annual Confirmation Statement at Companies House for you. All you have to do is check that the information is up to date. Pro package clients will need to pay the additional £13 HMRC fee, this fee is included as part of our Premium package.

VAT returns are filed using our HMRC compatible software, which fully meets Making Tax Digital (MTD) requirements. All you need to do is use our software to record all your business transactions and we’ll make sure your VAT returns are prepared and filed each quarter.

Registered Office service

Crunch can become your registered office if you upgrade to our Pro or Premium packages, which means we’ll act as a "central mail handler" for the business-related post from HMRC and Companies House.

Real-time dashboard

Pro and Premium clients can get a complete overview of what tax they owe with our real-time dashboard, giving you a clear and instant picture of your business finances.

Company formation

Need help forming your company? Upgrade to Pro and we’ll form your small business or limited company on your behalf and ensure your business is registered for all appropriate taxes.

HMRC registration

When you become a Crunch Pro or Premium client, we’ll take care of getting you registered with HMRC, as well as for any personal or business taxes, so you’ll be up and running in no time.

Confirmation Statement submissions

If you upgrade to either our Pro or Premium packages, Crunch can prepare and submit your Confirmation Statement (formerly known as an Annual Return) on your behalf.

On our Pro package, we’ll prepare it for you and you’ll just need to pay the Companies House fee for us to file it with them. On our Premium package, you won’t have to pay any additional fees - the preparation and submission of one Confirmation Statement per year comes as part of your package!

VAT registration and filing

If your business is VAT registered, you can either upgrade to Pro, or purchase our VAT add-on for just £3.50+VAT a month! Whichever you choose, your software will automatically calculate your VAT transactions and prepare your returns for filing with HMRC every quarter when due.

Once you’ve approved it, you can submit your VAT return to HMRC with our online accounting software quickly and efficiently. 

We’ll always remind you of upcoming deadlines so you’ll always be aware of your responsibilities. Our software is HMRC compatible and meets the Making Tax Digital (MTD) requirements.

Self Assessment support

Get expert help to prepare your Self Assessment and submit it to HMRC using our innovative online accounting software. We’ll make sure you’re paying the correct amount of personal tax and claiming all the allowances you’re entitled to. We provide a comprehensive review of your Self Assessment, as well as help with more complex returns, such as advising you on multiple sources of income.

Self Assessment support comes as standard on our Premium package.

IR35 support

Upgrade to our Crunch Premium package if you have any concerns about IR35. We have a complete range of IR35 solutions. Our switchable IR35 service means you can seamlessly move between limited company working or Umbrella payroll if your assignment is inside IR35. Our Crunch software can make any deductions you need for employment taxes, or handle any client payments you receive that have already had employment taxes deducted.

You’ll get unlimited online IR35 assessments to check the status of your assignments. You’ll also get one, free detailed review of the IR35 status of an assignment contract with a report showing your areas of risk, and recommendations to help evidence your contract is outside IR35. A Crunch expert will review your company's contract with your end client and the actual working practices in place to help you understand your employment status (one detailed review and report per year).

Crunch Pro package clients get unlimited online IR35 assessments and are able to purchase a detailed IR35 review as an add-on service.

Annual Accountancy Healthcheck

Get expert advice on improving your company’s growth and tax-efficiency.

Our Crunch Premium package includes an Accountancy Healthcheck every 12 months. Our Accountancy Healthcheck is designed to provide guidance on helping improve your limited company's financial performance, assist with any changes in regulations and the impact on your business, and help you to understand the changing needs of your business.

Crunch Pro package clients are able to purchase an Accountancy Healthcheck as an add-on service.

Professional references

Up to two accountant’s references per year for lettings or mortgages.

If you need an accountant’s reference to confirm your business finances we can help. For our Premium package clients, we'll provide up to two references for lettings or mortgage purposes each year.

If you’re a Pro package client or require other types of reference, we can still help you, though there will be an additional charge.

We can provide non-financial references to meet your specific requirements for an add-on fee on request.

Service address and mail forward

We provide you with a London service address for maximum professionalism and confidence. This service is included as standard in our Premium package.

In-software chat

Upgrade to Premium and start a direct chat with one of our friendly client managers for quicker in-software support.

Dedicated accountant

Need dedicated support? Upgrade to Small Business! Your dedicated accountancy relationship manager will get to know you and your business, and personally deliver your accountancy needs. They’ll also provide tailored advice to maximise the tax efficiency of your business and for you personally.

Dedicated bookkeeper

If you’re in need of your own dedicated bookkeeper, upgrade to Small Business! Your dedicated accountancy relationship advisor will be in regular touch with you and will provide your monthly bookkeeping services as well as give you any help you need with your Crunch software and apps. They’ll ensure your accounts are always up to date and provide the important support you need to ensure your company meets the deadlines set by Companies House and HMRC for filing annual accounts and statutory returns.

Learn more

Pro

The perfect combination of software, support, and advice for limited companies.

Get started
Free bookkeeping software

Keep track of all your invoices, payments, and expenses using our free online bookkeeping software. Easily upgrade for expert support whenever you need it.

Record and track expenses

Easily keep track of all your business expenses, set up recurring expenses and even use our free app (‘Snap’) to take a photo of your receipts and have them automatically uploaded to your Crunch Free software.

Create and issue invoices

Send professional invoices to your clients on-the-go, personalise invoices with your company logo, record and track your income, and set up recurring invoices and late payment reminders.

Connect your bank account

Link your business bank account to your Crunch software to quickly import bank statements and make reconciling your accounts quicker. Our software integrates with most major banks.

Easy bank reconciliation

Import all your transactions from your bank account and match them against expenses and invoices, our software makes suggestions for matching transactions to make your bookkeeping easy.

Expert advice and support

Get access to your own team of Crunch client managers and accountants, on hand for day-to-day support. They’ll guide you through your online accounting software, make sure you stay on top of deadlines, and help you with support and advice on dealing with HMRC.

Year end accounts

We’ll make sure your annual accounts are prepared and filed correctly. Once we’ve got the information we need from you, your accounts will be prepared by our expert accountants and filed directly with HMRC and Companies House at the click of a button.

Director payroll

Our simple Real Time Information (RTI) compliant payroll software makes it easy for Pro and Premium clients to set up a monthly, recurring salary. All your HMRC filing and payslips are done for you, our software connects to HMRC, so any PAYE-related returns can be submitted directly to ensure you’re compliant.

Pro package clients can have up to two directors taking a salary up to the relevant National Insurance (NI) threshold. If you wish to take more than the NI threshold amount as a salary you’ll have to use our add-on payroll service.

If you wish to take on employees who are not also company directors, you’ll have to use our add-on payroll service.

If you have multiple sources of employment income or you're receiving a pension, you may have a non-standard tax code. In this case, we’ll review your situation and you may have to use our add-on payroll service.

Tax-efficient dividends

As well as taking a director’s salary, you’ll usually want to take dividends from your company profits. Crunch makes paying yourself tax-efficiently with dividend payments easy. Our software lets you make quick and easy dividend payments at the click of a button and produces all the records you’ll need to keep for HMRC.

Company tax filings

We’ll prepare all your statutory company filings, including Corporation Tax and VAT.

We’ll make sure your annual accounts are prepared and filed correctly. Once we’ve got the information we need from you, your accounts will be prepared by our expert accountants and filed directly with HMRC and Companies House at the click of a button.

We make Corporation Tax calculation and filing straightforward. Your Crunch accountants will prepare, check, and file your Corporation Tax returns for you. We’ll also file your annual Confirmation Statement at Companies House for you. All you have to do is check that the information is up to date. Pro package clients will need to pay the additional £13 HMRC fee, this fee is included as part of our Premium package.

VAT returns are filed using our HMRC compatible software, which fully meets Making Tax Digital (MTD) requirements. All you need to do is use our software to record all your business transactions and we’ll make sure your VAT returns are prepared and filed each quarter.

Registered Office service

Crunch can become your registered office, which means we’ll act as a "central mail handler" for the business-related post from HMRC and Companies House.

Real-time dashboard

Get a complete overview of what tax you owe with our real-time dashboard, giving you a clear and instant picture of your business finances.

Company formation

We’ll form your small business or limited company on your behalf and ensure your business is registered for all appropriate taxes.

HMRC registration

We’ll take care of getting you registered with HMRC, as well as for any personal or business taxes, so you’ll be up and running in no time.

Источник: https://www.crunch.co.uk/who-we-help/accounting-for-small-businesses
online accounting services for small business

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