The 2 Best All-in-one Small Business Payroll, Bookkeeping, Tax, and Accounting Services in America.
I hate mindless bookkeeping.
If you own a business, you should hate being a slave to bureaucracy and process that can be outsourced for a reasonable cost.
In this article, I’ll give you the secret behind the absolute best payroll, bookkeeping, tax and accounting solution for small businesses or micro businesses.
I have affiliate relationships with almost all the vendors here, so if you follow the links and buy their service, I’ll earn a small commission.
Sure, a small business owner needs to know their numbers, but a business owner should also be adhering to the Pareto principle, or the 80/20 rule.
That rule states that you should be spending 80% of your time on the 20% of activities that will drive the largest returns for your business.
That means you should be working in your strengths, not your weaknesses.
And for me, that means NOT sitting behind a computer all the time, and it certainly means I don’t waste my time reconciling bookkeeping or running payroll that should be automated.
Taxes, Accounting Payroll and Bookkeeping should be a simple thing for small businesses, which is why before I built up Feedbackwrench, I was the founding member of an outsourced accounting firm meant to help people save in taxes, focus on their business and not waste time doing the frustrating tasks of bookkeeping, accounting, payroll and taxes.
Here are the 4 most important factors for a tax and accounting solution:
- Helps Mitigate Taxes (you get good advice).
- It saves you time.
- It keeps you compliant.
- It’s relatively affordable.
What are the Main Main Problems with Accounting, Payroll, Tax and Bookkeeping Solutions:
1 – Most Solutions are not Integrated.
Too many solutions have separate accounting, payroll, tax and bookkeeping solutions.
WHen the solutions are all piecemealed together, they have tendency to require lots of screwing around when it’s tax time.
The solutions I show here will have bookkeeping, tax returns, tax planning, accounting, payroll and payroll filing done for you.
2 – Payroll 940’s and 941’s require a full-fledged service
Don’t try to manually do a payroll system, because you’ll get it wrong.
It’s pretty much mandatory that you use a payroll service like ADP, Paychex, Gusto, Intuit or others, because there are complicated reporting requirements.
THis is a problem because that means you have a fee that you’ll pretty much have to pay.
3 – Bookkeeping should be done for you
This is the biggest requirement that I have.
I believe that bookkeeping should just be taken care of for you so that it’s convenient and always up to date. THere’s no sense in you sitting around reconciling things non-stop.
The Best Accounting, Bookkeeping & Payroll Solutions:
#2 – Quickbooks Online with payroll.
QBO has a bundle where you can get payroll, payroll done for you, their accounting and bookkeeping software for a low monthly price.
Now the nice thing is that because it’s owned by INTUIT, Quickbooks integrates with all their other products for taxes pretty easily.
The problem is that Quickbooks doesn’t provide bookkeeping done for you, tax returns done for you, or good tax planning throughout the year.
The good news is that you can easily find a local accountant that will help you with your bookkeeping and tax….
But this means that Quickbooks Online with Payroll done for you doesn’t provide you with a very good solution, which leads me to Xendoo.
Accounting, Bookkeeping Done for you on Xero, Payroll, Tax Returns and everything done for you, for a low monthly fee.
I’m becoming super biased, but Xendoo is VERY Hard to beat when it comes to an all-in-one accounting solution.
WHy do I like Xendoo so much?
You get everything done for you, for about the same price as just the software on other solutions.
The three major benefits to Xendoo over a QBO solution, is that they will do your bookkeeping for you, they do your taxes for you, and you’ll have an official CPA to talk to throughout the year.
Remember, I recommend that you come with your own tax mitigation techniques, but Xendoo has everything you need for a pretty low price.
Xendoo, because for a low monthly fee, you’ll receive bookkeeping done for you on the XERO platform, payroll, payroll done for you, tax returns at the end of the year, and a CPA that you can talk to to get advice throughout the year.