Bookkeeper360 Review: Features, Pricing & Alternatives 2023

• Businesses using Xero: Bookkeeper360 is one of our best online bookkeeping services, specifically for Xero users because of its scalability and seamless integration with Xero accounts.
• Startups and growing businesses: It has scalable and customizable solutions and even offers add-on services, such as payroll and human resources (HR) solutions, tax filing, and chief financial officer (CFO) advisory.
• Businesses using accrual-based accounting: Accrual accounting is available with Bookkeeper360, which includes deferred revenue, inventory, and accrued expenses.
• Small businesses seeking weekly bookkeeping services: Most other online bookkeeping services offer only monthly bookkeeping services, whereas Bookkeeper360 offers a weekly as well as a pay-as-you-go option.

• Businesses using FreshBooks: Bookkeeper360 integrates with QuickBooks Online and Xero. So, if you’re a FreshBooks user, check out Bench for online bookkeeping assistance. Read our review of Bench to see if it fits the bill.
• Businesses needing assistance with sales tax returns: Bookkeeper360’s provides tax services for income tax compliance. However, if you also need assistance with sales taxes, we recommend Bookkeeper.com. Our Bookkeeper.com review shares more detail about why it is an ideal all-in-one small business solution.
• Businesses wanting to track income and expenses at an affordable price: If you’d like a transparent price that you can depend on and isn’t determined by numerous variables, then Merritt Bookkeeping is a good option. Read our Merritt Bookkeeping review to learn more about the services included at the rate of $190 per month.
• New non-profit businesses: 1-800Accountant is an ideal solution for accountants because it can support the business at every stage, including walking you through setup requirements and filing your 501(c)(3) application. It will also educate you on compliance and perform your ongoing bookkeeping. For more information, check out our review of 1-800Accountant.

• CFO advisory: Starting at $1,000 per month, this includes business planning, profit, cost, margin analysis, coaching, corporate governance, capital strategies, and financial projections and forecasting. Your dedicated CFO will take the time to learn about your business and work with you to create a plan, set goals, and determine a strategy. If you need to raise capital, you’ll receive assistance with investor decks and financial forecasts.
• Tax: This starts at $800 per filing for businesses and $300 per filing for individuals. It includes business and individual taxation, sales taxation, 401(k) planning, tax planning, and tax credits. This is especially helpful if you’re seeking a one-stop solution for all of your tax needs.
• Payroll and HR: This starts at $46 per month and Bookkeeper360 will handle both the set-up and ongoing payroll and HR services, always ensuring that you are compliant. This includes full-service filings, paid time off (PTO) and time tracking, workers’ compensation insurance, W-2s and 1099s, medical benefits, direct deposits, and department mapping. Bookkeeper360 will integrate your payroll and bookkeeping, so you can analyze everything in one place.
• Back office: With a starting price of $150 per month, this includes invoicing and billings, inventory management, expense reimbursement, payments, collections, point-of-sale (POS) integrations, and enterprise resource planning (ERP). If you’re looking for other ways to automate your business, Bookkeeper360 can suggest accounting add-ons, and for ecommerce businesses, the platform integrates with Shopify, Square, Amazon, and many others.

Aside from bookkeeping services, Bookkeeper360 offers a web-based app that summarizes your data from QuickBooks or Xero and transforms it into visually appealing charts and graphs. At $19 per month, you can keep track of your business performance directly from the app after integrating it with your QuickBooks Online or Xero account. If you get a plan from Bookkeeper360, the app is included in the package. You can also subscribe to it separately from the service.

The payroll team will process payroll for both employees and contractors and provide full-service support with health benefits, direct deposit setup, W-2s, and 1099s. Bookkeeper360 also integrates with other payroll providers like Gusto and ADP. If you decide to get this service, it will only take less than two weeks to set up. You can visit Bookkeeper360’s Payroll & HR page to learn more.

If you’re using Xero or QuickBooks, both the desktop and mobile apps will connect to your account and provide information like scorecards and metrics. Using the app, you can keep track of business performance by looking at dashboards and auto-generated reports. You can view profit and loss details, revenues, direct costs, and net income. Yearly comparisons are also available.

Trailing 12 Months Profit and Loss Dashboard

If you want a more detailed view of business performance, you can switch to the Metrics view to year-over-year data for revenue and common size amounts for gross profit, net income, and payroll. You can also check your working capital and debt-to-equity ratio to measure your business’s short-term and overall liquidity.

Bookkeeper360 Metrics

The interactive charts in Bookkeeper360 show a blue and gray line. The blue line represents current year data, while the gray line represents previous year’s data. You can use this year-over-year comparison to spot seasonality in revenues and expenses. You can also immediately abnormal fluctuations in numbers and investigate the reason for these fluctuations further.

Trends show you business revenues, direct costs, and operating expenses along its composition. This section of Bookkeeper360 can provide you with insights regarding composition of revenues and cost behavior.

Column Chart Showing the Composition of Revenues

The chart above shows you information about revenue. It shows that revenue sometimes increases, decreases, peaks, or plummets. But more importantly, it shows you its composition. For instance, pay attention to syndication revenue (yellow columns). This revenue source is not present in all months while merchandise licensing is consistent in almost all months. As a business owner, you can use this chart to analyze revenue not just as a whole but in different components.

Column Chart Showing Composition of Direct Costs

The direct cost column chart above is another chart that you’ll find very useful in costing. What we like about this chart is that you can see the cost behavior of different cost drivers in the business. For instance, we see consistent labor costs throughout the year except in July. Hence, we can say that labor costs are fixed costs. Moreover, costs arising from Scooby Snacks can be a mixed cost because it has fixed and variable components. You can interpret this chart in many different ways, and it can aid you in decision-making.

Column Chart Showing Operating Expenses

In cost and management accounting, operating expenses are mostly fixed costs and this cost behavior is evident in the sample chart above. You can use this chart to analyze the behavior of your business’ operating expenses. It isn’t in all cases that operating expenses are fixed and the chart from Bookkeeper360 can reveal fluctuations in expenses. For example, there is a significant increase in Other Expenses in March 2022 and Advertising Expenses in April 2022.

The Bookkeeper360 app can also provide cash management insights using illustrative charts. The charts will show your cash inflows and outflows for the past 12 months, past 24 months, last calendar year, last two calendar years, and last three calendar years. It also shows cash insights by computing your net cash after deducting credit card liabilities.

Cash Analyzer

The cash analyzer above shows your cash position per month. You can also change it per quarter and present it as trailing 12 months, trailing 24 months, or previous calendar years. The columns represent the volume of cash inflows and outflows while the line shows your net cash position. By using this chart, you can assess monthly cash needs based on expected cash inflows and outflows.

Cash Insights

The cash runway, also called cash burn rate, shows the estimated number of months until cash runs out. In the example above, the cash burn rate is 13 months, assuming the average monthly cash outflow remains the same.

Yes. It can update your books even if they’re way behind, but you have to tell your dedicated bookkeeper during the first meeting so that they know where to start.

Bookkeeper360 offers a wide range of financial services, including bookkeeping, payroll processing, tax preparation, financial reporting, and accounts payable and receivable management. It also provides strategic financial planning and consulting services.

Yes, you need to be a QuickBooks or Xero subscriber. Subscriptions to these accounting software are excluded from Bookkeeper360’s monthly fees.

Under cash-basis accounting, revenues and expenses are recorded when cash is paid or received. Meanwhile, accrual accounting records revenue and expenses when earned or incurred. Learn more in our cash- vs accrual-basis accounting method comparison, which also covers when to use each.