Compare BooksTime To Other Bookkeeping Services

BooksTime

At BooksTime, we take a completely different approach from other bookkeeping services. Instead of forcing clients to use a highly standardized set of processes and software, we adapt the way we do everything to meet each client's unique needs. Plus, thanks to modern automation technology, we're able to offer prices that are 10% to 40% lower than all other major bookkeeping firms.

BooksTime

Features

BooksTime

Bench

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Pilot

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Supporting Strategies

Your Own Dedicated Bookkeeper Having your own dedicated bookkeeper means that you don't have to constantly explain things again and again as new staff get assigned to your account. With BooksTime, you get a dedicated, responsive bookkeeper who's with you all the way. They'll develop a deep understanding of your business, your processes, and your goals. Even if you need multiple bookkeepers, you'll still get one primary contact. Our bookkeepers go through a very intensive screening process, including multiple interviews as well as verification measures such as reference checks, background checks, etc. Approx. 99% of candidates for jobs at BooksTime are rejected. You get to work with the top 1%.

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Dedicated team; point person available

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Specialized Services for 20+ Industries With BooksTime, you're matched with a bookkeeper who understands your specific industry. Experts are available to provide specialized services for over 20 industries, including non-profits, tech startups, real estate companies, law firms, and many more. Learn more here: [insert link to industry specializations page]

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Some industry-specific services available (<20)

2 industries primarily: tech and nonprofits

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Accrual Basis Bookkeeping There are 2 ways of doing bookkeeping: accrual basis and cash basis. In many common cases, the IRS strictly requires accrual basis bookkeeping. Even for businesses that are not required to use accrual basis by the IRS, it is still usually the better option. Accountants agree that accrual basis gives you a more realistic and accurate view of your financial position.

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Accounting software supported Some companies force you to use a specific type of software. With BooksTime, we'll work with whatever software is best for your business. We have bookkeepers who specialize in a broad range of software, including common small business accounting apps, including QuickBooks, Xero, and Intacct (among others), as well as many industry-specific apps such as MindBody, Clio, Timberline, Yardi, Buildium, and more. Click here to download the full list: [add link titled 'Software FAQ', which downloads this PDF: https://drive.google.com/file/d/1Dptl_xgT8mePg_Ln6chf-qjsiZ8gYGjX/view?usp=sharing]

Over 30 options, including QuickBooks, Xero, Microsoft Dynamics, Sage, Netsuite, and more

Only their own software, which has limited integrations with other apps

Full functionality only available for QuickBooks Online. Limited integrations available for other versions of QuickBooks, Microsoft Dynamics, and Xero.

QuickBooks only

Their own software, QuickBooks

QuickBooks, Xero

Bill Pay In addition to recording and tracking your unpaid bills, we can issue payments on your behalf. We’ll follow your guidelines for when to pay which bills, from which accounts, and so on. You can add an authorization step to approve individual payments before they are issued. You choose the authorization method: either log in to a simple, easy-to-use online dashboard, or confirm payments via SMS.

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Invoicing and Collections Follow-ups Getting paid quickly shouldn’t take a ton of work. We’ll prepare invoices based on your guidelines. We can even follow up with your customers about late payments as needed (via email and/or phone). If payment reminders need to be sent, our team will follow templates and call scripts that we’ll confirm with you at the outset.

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Limited (costs extra)

Invoicing only; no help with collections / customer follow-ups

Limited; depends on the franchise

Custom Chart of Accounts Some firms use standard Chart of Accounts templates. To get the reports that matter for your specific business, you'll need more than the standard template. BooksTime will customize your Chart of Accounts based on your industry, business structure and reporting needs.

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Basic Financial Statements: P&L, balance sheet, cash flow statements The basic statements that every business needs.

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Cash Flow Forecasts Get a handle on cash flow issues with reports that help you predict how much cash you'll have, and how much you'll need.

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Advanced analytics, key metric tracking, and customized dashboards The financial clarity you need to find ways to become more profitable.

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Simple reports only

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Simple reports only; custom reports cost extra

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Consulting CFO An on-demand expert who provides proactive, personalized advice on everything from fundraising to building budgets.

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Support for owners of multiple businesses Have multiple businesses? BooksTime can help you keep tabs on all your businesses. (Specialized services are also available for multi-unit franchise owners.)

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Support for tracking by departments, work locations, or other slices Slice and dice your data to get the insights you need to really understand what's going on in the different parts of your business.

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Schedules for depreciation, amortization, prepaid expenses, and unearned revenue The complexity of these topics is one of the reasons it's so important for to have a knowledgeable bookkeeper with relevant education and qualifications.

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Inventory Tracking Not all firms support inventory-related bookkeeping services. With BooksTime, you a bookkeeper with expertise in working with businesses with inventory.

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(costs extra)

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Multiple currency support One of the areas where BooksTime is the clear leader is in supporting clients that do business internationally and transact in multiple currencies. This requires bookkeepers with very specialized expertise. (BooksTime also offers expertise in cryptocurrency bookkeeping.)

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1099s BooksTime prepares and files 1099 forms for all your contractors at an attractive flat rate.

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Payroll Administration BooksTime runs and manages payroll for you in a modern, highly automated platform.

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Expense Reporting and Employee Reimbursements With BooksTime, you'll never have to worry about expense approvals, enforcing expense rules and limits, paying reimbursements, or chasing receipts.

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No annual commitment required If you're feeling uncertain about the next 12 months, it may be best to avoid getting locked into to an annual contract. BooksTime offers monthly, quarterly and annual options: you choose!

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Cancellation policy With BooksTime, you're not locked in. You can cancel anytime with no cancellation fee. Other firms require advance notice or charge cancellation fees.

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Cancellations are easy, but switching may be difficult, as the financial data may be stored in a hard-to-convert format.

60-day notice required. For annual contracts, you may lose your annual prepayment.

Yes, but you'll still be charged for the remainder of the billing period.

No public cancellation policy

No public cancellation policy

Refund policy At BooksTime, our #1 priority is your satisfaction. If you're not satisfied, you can get your money back (see satisfaction guarantee for more details: bookstime.com/satisfaction).

100% satisfaction guaranteed or your money back

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Maximum refund is 1 month's fee

No refunds given

No public refund policy

Unlimited transactions and bank accounts Some firms charge you extra based on the number of transactions you have or the number of financial accounts you use (bank accounts, credit cards, etc.). BooksTime doesn't set any limits on transactions or accounts. Screen reader support enabled.

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Success Stories

Talk To A Bookkeeping Expert

A bookkeeping expert will contact you during business hours to discuss your needs.

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Billcom
BBB
Hubdoc
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Mindbody
Expensify
GustoPartner
Xero
Shopify Partner
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