As you build a business, it is essential to put in place administrative tools that will assist you in managing daily operations, including financials. Today, many businesses are turning towards online bookkeeping and accounting services to handle their bookkeeping needs. Many of the services available today offer a variety of options that can be customized to meet your needs both now and into the future. Let’s dive into FinancePal vs AccountsBalance, what they offer, and the benefits they can provide to your company.
FinancePal vs AccountsBalance 2023 Comparison
FinancePal offers a full-service accounting and bookkeeping service. In addition to handling your bookkeeping transactions, they also provide payroll, tax preparation, accounts receivable, and other accounting functions. For many small businesses, FinancePal offers a way to outsource your accounting department cost-effectively while also creating efficiency in your operations.
AccountsBalance is a bookkeeping service that provides businesses with the ability to outsource the recording, categorizing, and reconciling of their financials. With AccountsBalance, businesses receive monthly financial reports, giving them a comprehensive picture of their financial health. With catch-up services, their clients don’t have to feel overwhelmed by their bookkeeping. Instead, AccountsBalance makes it easy with a dedicated team that specializes in working with SAAS, small businesses, and agencies that fit your budget.
FinancePal vs AccountsBalance Overview
| FinancePal |
AccountsBalance
|
|
| Who’s It Best For? | Small businesses |
SAAS, agencies, & service providers.
|
| Monthly Pricing | Custom quote |
Starts at $299/mo
|
| Clean Up Services | Yes, one time cost. |
Yes, one time cost.
|
| Catch Up Services | Yes, one time cost. |
Yes, one time cost.
|
| Account Reconciliation | Yes, monthly. | Yes, monthly. |
| AR & AP Work | Yes | Not at this time. |
| Tax Services | Yes | Not at this time. |
| CFO Services | Not at this time. | Not at this time. |
| Dedicated Bookkeeper | Yes | Yes |
| Reviews | 0 Stars | 5 stars |
| Website | Visit | Visit |
Who Should Use FinancePal and AccountsBalance?
FinancePal is ideal for businesses looking to outsource their accounting and bookkeeping, especially small businesses. With their ala carte options, FinancePal can give you the services you need, so you don’t have to incur the added costs associated with hiring accounting staff. Plus, FinancePal works with multiple industries, including hospitality, real estate, and agriculture, so they can assist you in finding the right options to fit the current needs of your business or expand the services available as your business expands.
AccountsBalance is geared toward SAAS, agencies, and service providers, with efficient and strong processes in place to meet your needs. They also provide monthly bookkeeping services, but they also utilize a variety of software options, making it easy for you to transition as your business grows. Additionally, pricing is geared toward the size of your business and the number of transactions you are processing. That means they can grow with your business, meeting your bookkeeping needs as they become more complex.
FinancePal vs AccountsBalance Pricing
Obviously, finding the right bookkeeping service also means understanding the pricing model used to determine if the mix of services and costs fits your budget. With FinancePal and AccountsBalance, much of the pricing depends on the options you choose to utilize for your business.
| FinancePal |
AccountsBalance
|
|
| Monthly Pricing | Custom pricing based on services provided |
Starts at $299/mo. Based on size and complexity of business.
|
| Catch Up Work | Get a pricing quote |
Get a pricing quote w/in 1 business day.
|
| Clean Up Work | Get a pricing quote |
Get a pricing quote w/in 1 business day.
|
| Set Up | Included as part of custom pricing |
$499 for new QBO or Xero account
|
| Invoicing | Yes | Not at this time. |
| AP & AR | Yes | Not at this time. |
| Tax Services | Yes | Not at this time. |
| Free Trial | No |
Yes, 1st month free.
|
| Pricing Details | FinancePal Pricing |
FinancePal vs AccountsBalance Features
Each service offers its clients different options in terms of bookkeeping services, which makes it critical that you know what you want to outsource and what you can handle in-house. Invoicing, bill pay, and account reconciliation are just a few of the options available, but it is also important to understand whether a service offers options to meet the needs of your business as you grow.
| FinancePal |
AccountsBalance
|
|
| Dedicated Bookkeeper | Yes | Yes |
| Controller Oversight | Yes | Yes |
| Connect Bank Accounts | Yes | Yes |
| Categorize Transactions | Yes | Yes |
| Pay Bills | Yes | Not at this time. |
| Invoice Customers | Yes | Not at this time. |
| Account Reconciliation | Yes | Yes |
| Tax Consulting | Yes | Not at this time. |
| Tax Filing | Yes | Not at this time. |
| CFO Services | Not at this time. | Not at this time. |
| Income Statement | Yes | Yes |
| Balance Sheet | Yes | Yes |
| Cash Flow Statement | Yes | Yes |
| Reports Delivered By | 15th of the month | 15th monthly |
| Catch Up Services | Yes, for a fixed cost. |
Yes, for fixed cost.
|
| Clean Up Services | Yes, for a fixed cost. |
Yes, for fixed cost.
|
| Payroll Services | Yes | Not at this time. |
| International Support | No | Yes |
| Support | Yes |
Yes, responses in 1 biz day
|
FinancePal vs AccountsBalance Software
FinancePal is compatible with Quickbooks, HubDoc, ADP, Gusto, and Billpay.com. For AccountsBalance, we are compatible with Quickbooks Online and Xero. Both companies provide transparency and platforms that make it easy for you to see your financials in real-time. Additionally, with their adaptability to multiple platforms, both services can provide your business with options to meet your accounting software needs as you expand your products and services.
FinancePal vs AccountsBalance Customer Support
As a business owner, you understand why quality customer support is so critical to long-term customer retention. Being able to solve problems for your clients quickly and with solutions that meet their needs is essential, but even more so when it comes to your bookkeeping and accounting services. Both FinancePal and AccountsBalance offer quality support services geared to meet their clients’ needs effectively, especially when they have questions or concerns. Your time is money, and quality support respects your time by offering prompt replies and transparency.
| FinancePal |
AccountsBalance
|
|
| Unlimited Support | Yes | Yes |
| Community Support | Yes | Yes |
| Email Support | Yes | Yes |
| Text Support | Yes | Yes |
| Live Chat Support | Yes | Not at this time |
| Phone Support | Yes | Yes |
|
Searchable Knowledgebase
|
Yes, on their blog. |
Yes, on their blog.
|
| Online Help Resources | Yes, on their blog. |
Yes, on their blog.
|
| Responses Within | 1 business day | 1 business day |
Frequently Asked Questions (FAQs)
1. Which is better for online businesses?
FinancePal provides accounting and bookkeeping with a dedicated team. They are also compatible with multiple online platforms, making it easier for online businesses to integrate their services into how they do business. AccountsBalance also specializes in working with online businesses, so their team can easily adapt to fit your needs, although they do not offer the same level of accounting services.
2. What should I consider when hiring a bookkeeper online?
Before hiring a bookkeeper online, it is important to know what tasks you want them to handle and what tasks you want to keep in-house. That can assist you in determining if a bookkeeping service offers the features you want and need for your business, both now and in the future.
3. What’s different between a freelance bookkeeper and these bookkeeping companies?
A freelance bookkeeper can focus solely on your business, but they are limited by experience and the level of support they can offer. Plus, if they are ill, then your bookkeeping can fall behind. These bookkeeping companies offer a high level of support, along with a team that can keep your bookkeeping on track as they get to know your business.
4. How much does an online bookkeeping cost on average?
An online bookkeeping service can average around $200 to $300 per month, but this cost can increase as your number of transactions goes up or if you require additional services for your business. With FinancePal offering additional accounting services, your pricing will vary based on the services you choose for your business.
What Is AccountsBalance?
AccountsBalance is a monthly bookkeeping service specialized for agencies & SAAS companies.
We take monthly bookkeeping off your plate and deliver you your financial statements by the 15th or 20th of each month.
You’ll have your Profit and Loss Statement, Balance Sheet, and Cash Flow Statement ready for analysis each month so you and your business partners can make better business decisions.
Interested in learning more? Schedule a call with our CEO, Nathan Hirsch.
And here’s some free resources:
In Summary
FinancePal offers a personalized experience for freelancers and small business owners who want to limit the amount of bookkeeping they have to handle. However, as your business grows, FinancePal also provides accounting services, which can make it easier to handle all your accounts receivable and accounts payable in one place. AccountsBalance is built on strong and efficient processes with the goal of growing with your business. They focus on SAAS, agencies, and entrepreneurs, providing the bookkeeping services necessary to keep your business on track.
