Top Bookkeeping Services for HR and Recruiting Firms

As talent champions hustle to connect businesses with their dream candidates, one crucial aspect often gets overshadowed: effective financial management. 

Enter doola Bookkeeping, to support HR firms in navigating complex finances while allowing them to focus on what they do best: building great teams! 

From streamlining payroll processes to managing vendor payments and expenses, our automated bookkeeping solutions not only save time but also empower recruiters to make data-driven decisions that drive success. 

In this blog, we’ll explore the top bookkeeping services for HR and recruiting firms that can transform your operations and set you up for long-term growth!

Benefits of Professional Bookkeeping for HR Businesses

HR and bookkeeping seem like two separate worlds, but they work best together. While HR helps businesses see the true value of their people, bookkeeping does the same with money.

Like other industries, HR firms also heavily rely on bookkeeping to deal with complex payroll processes, track employee time and expenses, and handle legal compliance matters. 

It Streamlines Key Operations and Financials

• Automatically track and categorize business expenses such as salaries and overhead costs. 

• Manage multiple clients’ accounts, employee costs, or client acquisition costs for reimbursement without any delays or confusion.

• Monitor employee reimbursements, payroll taxes, and other expenses related to recruiting and hiring processes. 

• Access regular reports on cash flow, profit and loss statements, balance sheets, tax returns, etc.

It Keeps You Focused and Compliant

• Focus on core competencies rather than spending valuable time managing tedious administrative tasks. 

• Outsource mundane tasks to professionals who can ensure that all necessary tax returns are accurately calculated and filed on time.

• Adhere to specific legislation regarding employment taxes (FICA), state payroll taxes (SUTA), and more to maintain legal compliance.

It Helps You Save Money

• Get support from bookkeeping professionals allows you to access expert skills without hiring an in-house bookkeeping team.

• Analyze data trends to identify areas for cost-cutting or revenue growth and track all expenses.

• Track all business expenses to utilize all eligible tax deductions and credits to reduce your tax bill.

• Streamline your bookkeeping tasks in your budget with doola Bookkeeping’s flexible pricing plans. 

Features to Look for in Top Bookkeeping Services for HR and Recruiting Firms

Not all bookkeeping services are created equal when it comes to catering specifically to the needs of HR and recruiting firms. 

Here are some essential features that you should look for in a bookkeeping service to ensure that you are getting the best possible support for your business.

1. Payroll Processing

HR and recruiting firms often have a large number of employees with complex payment structures such as bonuses, commissions, and reimbursements. 

doola Bookkeeping supports Gusto’s robust payroll processing capabilities, eliminating the need for manual calculations and ensures timely and accurate payments.

2. Expense Tracking

Recruiting involves heavy expenses such as travel costs, advertising fees, and candidate referral bonuses, which you must track and categorize accurately. 

It also helps generate accurate financial statements that give insights into where your firm’s money is going, allowing you to make informed decisions about cost-cutting measures.

3. Invoicing

Invoicing tools help businesses ensures timely payment from clients or candidates for services rendered. 

They also have customizable templates with options related to job postings or client contracts.

4. Tax Assistance 

HR and recruiting firms are responsible for managing taxes for their employees, as well as their own business taxes. 

A good bookkeeping service can help you keep track of tax obligations and deadlines, saving you from potential fines or penalties. 

They can also manage multiple types of taxes, such as income tax, sales tax, and payroll tax, to ensure that all taxes are filed on time.

Top 3 Bookkeeping Services for HR and Recruiting Firms

Managing finances in an HR or recruiting firm requires accuracy, efficiency, and compliance with industry regulations. The right bookkeeping service can help streamline payroll, manage cash flow, and ensure tax compliance, thus, allowing you to focus on growing your business.

Here are 3 top bookkeeping services tailored for HR and recruiting firms:

1. doola Bookkeeping: Starts at $25/Month

doola Bookkeeping is a top-rated bookkeeping service that offers a comprehensive range of services to help you manage your books efficiently. This includes transaction categorization, bank reconciliation, accounts payable/receivable management, tax preparation support, and more.

You can also track project-specific expenses, customize and send invoices, manage vendor payments, synchronize bank feeds automatically, and do so much more.

We provide an unbeatable combination of technology and expert human support, offering efficient and accurate bookkeeping services at a reasonable price.

Moreover, doola Bookkeeping assigns dedicated professionals who have extensive experience working with businesses similar to yours. 

Our flexible pricing plans are tailored to meet the budgetary requirements of all business types, so you can start without breaking the bank. 

Key Features:

✔️ Income and Expense Tracking

✔️ Business Metrics

✔️ Auto-Tagging Transactions

✔️ Dedicated Bookkeeping

✔️ Self-Serve Invoice Creation

✔️ Financial Statements

✔️ Tax Filing Assistance

✔️ Catch-up Bookkeeping

Why It’s The Top Choice?

• Transparent, flexible pricing plans.

• Customer support with a dedicated account manager.

• Tax-Ready year-end package for seamless tax filing.

2. Bench: Starts at $249/Month

Bench is a recognized bookkeeping service due to its innovative approach to managing finances. 

What sets Bench apart from others is its user-friendly interface, which automates manual tasks like data entry and categorization, saving time and reducing human error.

With Bench, you also get a dedicated team of professionals assigned to your account, ensuring that your bookkeeping needs are taken care of promptly. Their team of experts provides personalized attention to each client’s needs by assessing their individual business goals and creating custom plans accordingly.

Key Features:

✔️ Monthly Bookkeeping

✔️ Catch-up Bookkeeping

✔️ Income Tax Filing & Advisory

✔️ Financial Reporting

✔️ P&L, Balance Sheet, & 1099 Reporting

3. Pilot: Starts at $350/Month

Pilot is a full-range bookkeeping service that solves the unique challenges HR businesses face while managing their finances. 

It offers comprehensive virtual bookkeeping solutions backed by expert CFO advisors who work closely with HR & recruiting firm owners. 

They help you analyze business performances along with providing actionable advice on improving revenue streams while reducing costs effectively.

One notable feature of Pilot is its proactive approach to financial management. It ensures accurate compliance with tax laws and recommends cost-saving measures.

Key Features:

✔️ Real-time visibility into your finances

✔️ Monthly P&L and balance sheet based on your bank and credit card activity

✔️ Year-end package for your tax preparer

✔️ Income tax filings and tax planning

✔️ Vendor Payments

✔️ Sales Tax Management

How to Choose the Right Bookkeeping Service for Your HR or Recruiting Firm

Investing in the right bookkeeping service will not only save you time and effort but also help you make informed financial decisions for the growth of your business.

However, this requires careful consideration. Here are some key factors to consider when selecting top bookkeeping services for HR or recruiting firm.

• Consider Your Business Needs: Instead of hiring a full-time bookkeeper, you can opt for professional bookkeeping services with a few extra perks at a more affordable cost.

• Check Reputation: Before finalizing a bookkeeping service, do thorough research on their reputation within the industry.

• Look for References: Check online reviews, ask for references from other businesses in your network, and inquire about their certification and credentials.

• Services Offered: Make sure your bookkeeping service have everything you need to streamline finances, from invoice processing to payroll management to tax preparation.

• Technology: Look for software compatibility and cloud-based solutions that enable access to real-time financial data from anywhere at any time.

• Support: Choose a bookkeeping service that offers easy and convenient ways to communicate, provides regular financial reports, and is responsive to any concerns or questions.

Need a Top Bookkeeper? doola Bookkeeping Has You Covered!

Keeping track of your bookkeeping and tax compliance can take up valuable time and resources that could be better spent on growing the business. This is where doola Bookkeeping comes in to streamline these processes and alleviate the burden from HR and recruiting firms. 

Our software’s user-friendly interface simplifies day-to-day bookkeeping tasks so you can focus on finding top talent for your clients.

We handle all aspects of bookkeeping including accounts payable/receivable, bank reconciliations, invoicing, expense tracking, and more. 

But our services go beyond just bookkeeping. We also offer dedicated bookkeeping services with a team of experienced professionals who are well-versed in managing books for HR and recruiting firms. 

Our team works closely with you to analyze financial data and deliver customized reports that help you with budget allocation and growth strategies.

Book a demo with us today to learn more about how we can support your bookkeeping needs.