Merritt Bookkeeping provides professional remote bookkeeping services to small businesses located anywhere in the US. It’s best for those looking for affordable bookkeeping services without any tax or consulting services.
It keeps its price very low by focusing only on bookkeeping essentials: recording transactions, reconciling accounting, and providing financial information. With its flat-rate pricing of $250 per month, users love Merritt Bookkeeping, with an average rating of 4.98 out of 5 from the approximately 100 customer reviews we found.
Why You Can Trust Fit Small Business
Deciding Factors
| Pricing | $250 per month |
|---|---|
| Free Trial | ✕ |
| 100% Money-back Guarantee | 90 days |
| Assigned a Personal Bookkeeper? | ✕ |
| Bookkeeper Communications | |
| Monthly Account Reconciliations & Financial Statements | ✓ |
| Detailed Monthly Financial Reporting | ✓ |
| Back-office Services, e.g., Customer Invoicing and Bill Pay | ✕ |
| Full-service Payroll Available | ✕ |
| Tax & Consulting Services Available | ✕ |
Use Cases
- Small businesses wanting to track income and expenses for their tax returns: If you don’t plan on using your financial statements for anything other than preparing a tax return, then Merritt’s very basic, affordable service is ideal for you. You can also use Merritt to process 1099 forms for your contractors.
- Small businesses or freelancers using QuickBooks: If you currently use QuickBooks Online but are tired of the bookkeeping headache, you can transfer your QuickBooks Online account to Merritt and let it take over.
- Businesses on a budget: Merritt is affordable, so it’s a great choice if you’re looking to save money. Its services are available at one flat rate, regardless of your monthly expenses or transactions.
- Businesses behind on their books: Merritt has catch-up bookkeeping for an additional fee. The catch-up fee is offered at a discounted price compared to the monthly service.
Merritt Bookkeeping Alternatives & Comparison
| Monthly Price | Bank Reconciliation | Financial Statements | Invoicing & Bill Pay | Tax Services | |
|---|---|---|---|---|---|
 | $250 flat rate | ✓ | ✓ | ✕ | ✕ |
 | Starts at $299 | ✓ | ✓ | ✕ | ✓ |
| Visit Bench | |||||
 | Starts at $399 | ✓ | ✓ | ✓ | ✓ |
| Visit Bookkeeper360 | |||||
| Best For | Learn More | |
|---|---|---|
| Businesses wanting tax services: Merritt keeps its prices low by concentrating on the specific task of bookkeeping. If you want a firm that will do both your bookkeeping and tax preparation, we suggest Bench. | Read our Bench review |
| Accrual-based businesses: Merritt supports only cash-based accounting using QuickBooks Online. You might want to try Bookkeeper360 if your business uses accrual-based accounting. | Read our Bookkeeper360 review |
Merritt Bookkeeping Reviews from Users
5.00 / 5
| Users Like | Users Dislike |
|---|---|
| Monthly reports are detailed and insightful | No invoicing or bill pay |
| Catch-up bookkeeping available | Communication is limited to email |
| 100% money-back guarantee | No tax services |
Customers have left outstanding Merritt Bookkeeping reviews. While its offerings are limited and communication is only by email, customers love the provider. There’s something to be said for doing one thing and doing it well. Users appreciated its flat-rate pricing and praised the provider for its transparency and budget-friendliness. They also found its team to be attentive, responsive, and helpful.
Here are the Merritt Bookkeeping review scores on third-party sites:
- Yelp[1]: 4.9 out of 5 based on about 40 reviews
- Google[2]: 5 out of 5 based on around 90 reviews
- G2.com[3]: 4 out of 5 based on about 5 reviews
Merritt Bookkeeping Pricing
5.00 / 5
Merritt is the clear price leader in online bookkeeping. Unlike other online bookkeeping services with variable rates, Merritt charges a flat rate of $250 per month. The price is the same regardless of business size, transactions, accounts, monthly expenses, and the number of employees.
Merritt also has the following add-on services:
- Catch-up bookkeeping: If you’re behind, Merritt will help you catch up for $200 per month or $100 per month if there are less than 10 transactions to be entered.
- Form 1099s: Merritt will prepare and file 1099’s for payments made to your contractors for $75 plus $10 per form.
Merritt Bookkeeping: Bookkeeping Features & Services
Personal Bookkeeper
3.25 / 5
Merritt Bookkeeping provides a personal account representative to each customer, so you’ll have a single point of contact with the company. While they aren’t technically your bookkeeper, they’ll oversee the preparation of your books to ensure things run smoothly.
When you sign up, a Merritt employee will assist you with setting up your bank and merchant accounts. The bookkeepers will manage your financial data using QuickBooks, which will automatically import read-only versions of your bank statements using LedgerSync, a free, secure, third-party application. It will:
- categorize your transactions based on the chart of account;
- reconcile your QuickBooks file with the bank statements; then
- send you PDF reports of your financial data every month
If you don’t already have a QuickBooks file
After setup, contact with your bookkeeper will be minimal. Each month, once Merritt updates the bookkeeping, it’ll email you a link to your Dashboard. The Dashboard includes transaction details and links to your financial reports and the support center. It’s up to you to review the transaction detail sheet. If you see anything that needs to be fixed, type the change in the sheet, and it’ll be updated.
The reason Merritt scored a little low in this category is that the only method of contact with your account representative is via email, which will be answered within one business day. You can’t arrange a meeting with your bookkeeper, although you’re allowed an unlimited number of emails. While this setup doesn’t sound ideal, it seems to work well for users, based on its outstanding customer reviews.
Bookkeeping Services
3.00 / 5
Merritt Bookkeeping is in our roundup of the best online bookkeeping services as it offers the best value for basic bookkeeping services. It keeps its price low by focusing only on the most basic bookkeeping tasks, which are—in our opinion—the most important tasks.
It’ll classify your transactions into the proper accounts, reconcile your bank accounts monthly, and provide monthly financial statements. It also offers catch-up work if you’re behind in your bookkeeping.
The provider took a hit in this category because it doesn’t offer more advanced services like invoicing your customers, paying your bills, and running your payroll. However, if you don’t need these services, it is a great option with its low price and excellent customer reviews.
Merritt Bookkeeping: Other Features & Services
Financial Reports
Each month, Merritt Bookkeeping will send you a cloud-based spreadsheet that details all of your transactions so that you can verify that they have been categorized correctly. You’ll also receive the following reports:
- Balance sheet
- Income statement, showing yearly comparison during the last three years
- Profit and loss (P&L) statement, showing monthly comparison during the last 12 months
- Graphical representation of income and expenses during the last 12 months
Given the low price of its service, we were pleasantly surprised by the quality of the reports provided monthly.
Merritt Bookkeeping Monthly Reports
Merritt Bookkeeping makes the following reports available every month:
- Overall report summary that looks at income and expenses, cash flow projections, and key performance indicators (KPIs)
- Monthly income by type
- Monthly spending by category
- Monthly income, expense, and profit
- Profit margin and expenses as a percentage of income
- Monthly cash flow
- Quarterly income, expense, and profit
- Year-to-date income, expense, and profit compared to prior years
- Year-to-date income, expense, and profit along with forecast for the remainder of the year
- Cumulative income by year
- Assets and liabilities as of current month
Summary of Reports and KPIs 
Monthly Income by Type 
Monthly Spending by Category Page 1 
Monthly Spending by Category Page 2 
Monthly Income, Expense, and Profit 
Profit Margin and Expenses as a Percentage of Income 
Monthly Cash Flow Page 1 
Monthly Cash Flow Page 2 
Quarterly Income, Expense, and Profit 
YTD Income, Expense, and Profit Compared to Prior Years 
YTD Income, Expense, and Profit along with Forecast for Remainder of Year 
Cumulative Income by Year 
Assets and Liabilities as of Current Month
QuickBooks Integration
Once you connect your bank and credit card accounts, your bookkeeper can download your account statements directly into a QuickBooks file that they set up for you. If you’re already using QuickBooks, you can provide them with your file. This makes it easier to organize and manage information.
1099 Filing
Merritt provides a simplified issuance and electronic filing of 1099s to your contractors. This service costs extra, as detailed in our pricing section.
Bank & Credit Card Reconciliation
Merritt Bookkeeping will import read-only versions of your bank and credit card statements and reconcile your accounts monthly.
Tax & Consulting Services
Merritt Bookkeeping doesn’t provide any tax and consulting services but can refer to companies that it trusts will provide you with great service.
How We Evaluated Merritt Bookkeeping
Frequently Asked Questions (FAQs)
How much does Merritt Bookkeeping cost?
Merritt Bookkeeping charges a flat rate of $250 per month, with no restriction on the number of monthly transactions or the frequency of service.
Does Merritt Bookkeeping provide 1099 filing services?
Yes, Merritt Bookkeeping will assist with filing 1099 forms for your contractors for an additional fee of $75 for report preparation and $8 per form.
Does Merritt Bookkeeping offer a free trial?
No, but you can test out Merritt Bookkeeping for 90 days with no risk. If you’re unsatisfied within that period, you’ll receive a full refund.
What accounting software does Merritt Bookkeeping use?
Merritt Bookkeeping primarily uses QuickBooks.
Does Merritt Bookkeeping provide catch-up bookkeeping services?
Yes, Merritt offers catch-up bookkeeping at a fee of $140 for each month you’re behind. The rate goes down to $70 per month for months that are almost complete.
Bottom Line
Merritt Bookkeeping, an online bookkeeping service for cash-based businesses, uses QuickBooks as its bookkeeping platform. It offers a basic package that includes automated monthly downloads of bank statements and monthly financial reports. This service is ideal for businesses with basic bookkeeping needs, as it doesn’t assist with taxes, payroll, and invoicing. The affordable flat-rate pricing also makes it a great option for freelancers on a budget or the self-employed.
User review references:
