6 Best Monthly Bookkeeping Services

Running a business is more than selling products or providing services — it’s about ensuring your finances are well-managed and transparent. 

Bookkeeping, often considered the backbone of financial management, is essential for tracking income, expenses, and overall business health. 

For small businesses, monthly bookkeeping services provide a regular financial pulse check, helping you identify opportunities and mitigate risks before they grow. 

According to studies, 82% of small businesses fail due to cash flow mismanagement, highlighting the importance of consistent financial oversight. 

That’s where services like doola’s Monthly Bookkeeping come into play, offering comprehensive solutions to keep your finances on track. 

Monthly bookkeeping keeps your financial records accurate, up-to-date, and ready for decision-making, offering peace of mind for business owners navigating day-to-day operations. 

Why Monthly Bookkeeping Matters  

Monthly bookkeeping ensures that your financial records are consistently updated and reviewed. This regularity helps businesses:  

✔️ Maintain Cash Flow: Tracking income and expenses monthly allows you to forecast cash flow needs and avoid surprises.  

✔️ Stay Tax-Ready: Monthly reconciliations keep your financial records organized, making tax preparation seamless.  

✔️ Identify Trends: Reviewing financial reports each month allows you to spot patterns, measure growth, and make timely adjustments.  

✔️ Avoid Costly Errors: Catching and resolving financial discrepancies early reduces the risk of long-term errors impacting your business.  

✔️ Gain Peace of Mind: Knowing your books are in order allows you to focus on growing your business instead of worrying about finances.  

Essential Features to Look for in Monthly Bookkeeping Services

When evaluating monthly bookkeeping services, look for these essential features:  

• Expense Tracking and Categorization: Accurate tracking and categorization of income and expenses are critical for understanding profitability.

• Reconciliation Services: Ensure the service includes regular reconciliation of bank accounts, credit cards, and other financial accounts.  

• Financial Reporting: Access to monthly reports like profit and loss statements and balance sheets is essential for financial clarity.  

• Tax Compliance: Look for services that prepare you for tax filings with accurate records and compliance support.  

• Scalability: Choose a service that can adapt to your business’s growth and increasing financial needs.  

• Ease of Communication: Reliable customer support and clear communication channels are crucial for addressing questions or concerns.  

6 Top Monthly Bookkeeping Services for Small Businesses  

Here are 6 of the best monthly bookkeeping services available:  

1. doola Bookkeeping

doola offers a comprehensive and affordable solution for businesses of all sizes.

Starting at just $25/month, doola’s Monthly Bookkeeping provides robust features like automated expense tracking, invoicing, and tax compliance support.

Designed with entrepreneurs in mind, doola simplifies bookkeeping without compromising on quality, making it an ideal choice for those seeking top-tier services at a competitive price.  

Pros:  

✅ Transparent pricing starting at $25/month.  

✅ User-friendly interface tailored to small businesses.  

✅ Comprehensive financial reports and tax-ready records.  

✅ Scalable solutions to grow with your business.  

Cons:  

⚠️ Advanced enterprise features may require higher-tier plans.  

2. Bench  

Bench combines powerful software with professional bookkeepers to deliver monthly financial updates.

Bench is ideal for small businesses looking for hands-off financial management. Plans start at $249/month.  

Pros:  

✅ Includes a dedicated bookkeeper.  

✅ User-friendly dashboards for financial insights.  

✅ Monthly financial reports included.  

Cons:  

⚠️ Higher starting cost compared to some competitors.  

⚠️ Advanced features like payroll support are not included.  

3. QuickBooks Live  

QuickBooks Live connects you with bookkeepers who manage your books using the QuickBooks platform. Pricing starts at $200/month.  

Pros:  

✅ Seamless integration with QuickBooks accounting software.  

✅ Ideal for businesses already using QuickBooks.  

✅ Real-time collaboration with bookkeepers.  

Cons:  

⚠️ Additional features may increase costs.   

⚠️ Limited to QuickBooks users.  

4. Pilot  

Pilot is a premium bookkeeping service starting at $349/month. It specializes in providing startups and growing businesses with accurate financial reports and tax preparation.  

Pros:

✅ Dedicated account managers.  

✅ Expertise in managing complex finances.  

✅ Scalability for growing businesses.  

Cons: 

⚠️ The higher price points may deter smaller businesses.  

5. Bookkeeping.com  

Bookkeeping.com combines professional bookkeepers with software to deliver a complete financial solution. Pricing starts at $399/month.  

Pros:  

✅ Dedicated bookkeepers for personalized support.  

✅ Comprehensive services, including tax preparation.  

✅ Customizable plans to fit specific needs.  

Cons:  

⚠️ Higher starting cost.  

6. Merritt Bookkeeping  

Merritt Bookkeeping offers a straightforward and affordable solution for small businesses, with plans starting at $250/month.

Merritt Bookkeeping is best suited for businesses with simple financial needs.  

Pros:  

✅ Transparent pricing with no hidden fees.  

✅ Focus on simplicity and accuracy.  

✅ Excellent customer service.  

Cons:  

⚠️ Limited advanced features.  

Comparing Monthly Bookkeeping vs. Annual Bookkeeping 

Monthly bookkeeping offers significant advantages over annual bookkeeping:  

• Regular Financial Oversight: Monthly services keep your books updated, allowing you to make informed decisions throughout the year.  

• Tax Preparation: With monthly reconciliations, you’re always tax-ready, avoiding the year-end scramble.  

• Error Prevention: Monthly reviews catch mistakes early, reducing long-term impacts on your finances.  

• Scalability: Monthly bookkeeping adapts to changing financial needs as your business grows.  

While annual bookkeeping may seem cost-effective, it often leads to outdated records and increased stress during tax season.

Investing in monthly bookkeeping ensures that your finances are always in top shape.  

How to Choose the Best Monthly Bookkeeping Service for Your Business  

Follow these steps to find the right monthly bookkeeping service for your business:  

• Define Your Needs: Identify what aspects of bookkeeping you need help with, such as expense tracking, financial reporting, or tax preparation.  

• Set a Budget: Determine what you’re willing to invest in bookkeeping. Compare costs and services to ensure you get the best value.  

• Evaluate Features: Look for services that offer essential features like reconciliation, reporting, and tax compliance.  

• Check Customer Support: Reliable customer support is crucial for resolving issues or answering questions promptly.  

• Read Reviews: Learn from other business owners’ experiences to gauge the reliability and efficiency of the service.  

Simplify Your Finances with doola Bookkeeping 

Managing your business finances doesn’t have to be complicated. doola Bookkeeping offers intuitive, comprehensive packages designed to meet the needs of businesses at every stage.

With pricing starting at just $25/month for the bookkeeping software, doola provides robust features like automated expense tracking and invoicing.

Its user-friendly interface makes it easy to stay on top of your finances without adding complexity.  

Whether you’re a new entrepreneur or a seasoned business owner, doola delivers top-tier bookkeeping services that grow with your business.

Book a demo with doola Bookkeeping to take control of your bookkeeping and focus more on what you do best—running your business.  

FAQs  

How much should I pay for monthly bookkeeping?  

Monthly bookkeeping services range from affordable options like doola at $25/month for the bookkeeping software, offering robust and comprehensive solutions, to premium services tailored for complex financial needs at $500/month.  

Can I switch from annual to monthly bookkeeping easily?  

Yes, transitioning from annual to monthly bookkeeping is straightforward.

Most providers offer onboarding services to update your records and align them with monthly cycles.  

What’s the difference between an accountant and a bookkeeper?  

Bookkeepers handle daily financial records, such as tracking expenses and reconciling accounts.

Accountants analyze these records to provide financial advice and prepare tax filings.  

Do monthly bookkeepers also prepare tax filings?  

Some monthly bookkeeping services, like doola, prepare tax-ready records and offer tax filing assistance.

Others may provide integrated tax preparation as part of their service.  

Is monthly bookkeeping worth it for small businesses?  

Absolutely. Monthly bookkeeping ensures that your financial records are always up-to-date, helping you make informed decisions and stay prepared for taxes, which is invaluable for small businesses.