At every level of your business, success is measured by the numbers. To make critical decisions about your opportunities and where to expand your business, you need accurate financials, which is where an online bookkeeping service comes into play. Choosing one depends on finding the right mix of services and costs to meet the needs of your business now and into the future. Comparing their offerings can help you understand where each bookkeeping service stands in terms of options and price. With Paro and AccountsBalance, we explore what they offer and whether they might be the right fit for your business.
Paro vs AccountsBalance 2023 Comparison
Paro is an accounting and bookkeeping service that provides full-charge bookkeeping, account reconciliation, financial reporting, and financial controller leadership by connecting clients with freelance CPAs and bookkeepers. With their proprietary AI-matching technology, Paro offers increased efficiency and accuracy with your monthly financial reports.
AccountsBalance is a process-driven bookkeeping service providing experts who take the time to understand your business and industry. With a dedicated team and controller-reviewed financials, you receive monthly financial reports that are accurate and trustworthy.
Paro vs AccountsBalance Overview
While both offer a mix of bookkeeping services, Paro is essentially a platform for accessing top talent in both bookkeeping and accounting. AccountsBalance has its team in-house and provides a dedicated bookkeeper with expertise in your industry.
| Paro |
AccountsBalance
|
|
| Who’s It Best For? | Businesses looking to connect with a freelance bookkeeper or accountant |
SAAS, agencies, & service providers.
|
| Monthly Pricing | Based upon the contract |
Starts at $299/mo
|
| Clean Up Services | Yes, pricing determined by amount of work needed. |
Yes, one time cost.
|
| Catch Up Services | Yes, pricing determined by the amount of work needed. |
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 | Yes | Not at this time. |
| Dedicated Bookkeeper | Yes | Yes |
| Reviews | 4 stars | 5 stars |
| Website | Visit | Visit |
Who Should Use Paro and AccountsBalance?
Paro is ideal for multiple businesses because they offer the flexibility to connect with bookkeepers or accountants who know your industry and can assist in managing your financials efficiently and accurately by providing flexible, cycle-to-cycle support.
AccountsBalance is geared towards online businesses, agencies, SAAS, and small businesses that need quality and consistent bookkeeping services with regular monthly reporting. They also provide dedicated bookkeeping staff to meet the needs of your business, both now and as it grows.
Paro vs AccountsBalance Pricing
While AccountsBalance provides a flat monthly fee for bookkeeping services to meet the needs of your business, Paro uses an AI platform to match freelance bookkeepers and accountants with various businesses. Using contracts, businesses can locate the talent and expertise they need through Paro.
| Paro |
AccountsBalance
|
|
| Monthly Pricing | Depends upon the contract. |
Starts at $299/mo. Based on size and complexity of business.
|
| Catch Up Work | Contract pricing |
Get a pricing quote w/in 1 business day.
|
| Clean Up Work | Contract pricing |
Get a pricing quote w/in 1 business day.
|
| Set Up | Contract 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 | Paro Pricing |
Paro vs AccountsBalance Features
AccountsBalance offers a bookkeeping service to meet the needs of your business, including categorizing transactions, monthly reconciliation, and financial reports with strict deadlines to make sure you have what you need on time every month.
Paro offers a platform that allows you to connect with top bookkeeping and accounting talent to expand your team or outsource aspects of your bookkeeping. With an AI-driven platform, Paro can match you with the right expert to fit your needs.
| Paro |
AccountsBalance
|
|
| Dedicated Bookkeeper | Yes | Yes |
| Controller Oversight | No | Yes |
| Connect Bank Accounts | Yes | Yes |
| Categorize Transactions | Yes | Yes |
| Pay Bills | No | Not at this time. |
| Invoice Customers | No | Not at this time. |
| Account Reconciliation | Yes | Yes |
| Tax Consulting | Yes | Not at this time. |
| Tax Filing | Yes | Not at this time. |
| CFO Services | Yes | Not at this time. |
| Income Statement | Yes | Yes |
| Balance Sheet | Yes | Yes |
| Cash Flow Statement | Yes | Yes |
| Reports Delivered By | According to contract | 15th monthly |
| Catch Up Services | Yes |
Yes, for fixed cost.
|
| Clean Up Services | Yes |
Yes, for fixed cost.
|
| Payroll Services | No | Not at this time. |
| International Support | Yes | Yes |
| Support | Yes |
Yes, responses in 1 biz day
|
Paro vs AccountsBalance Software
Since Paro is a platform for connecting with bookkeeping and accounting experts, it is compatible with multiple software options based on your business. AccountsBalance is compatible with Quickbooks Online and Xero for your accounting software needs.
Paro vs AccountsBalance Customer Support
Paro’s customer support is focused on helping you navigate your contract with the expert accountant or bookkeeper you found on their platform. Depending on the question, Paro will be able to provide assistance, but specific questions can only be answered by the freelance professional you work with through the platform.
AccountsBalance provides quality customer service support to assist you with all your questions in a timely manner. The goal is to address issues right away, so your business can stay on track.
| Paro |
AccountsBalance
|
|
| Unlimited Support | Yes | Yes |
| Community Support | Yes | Yes |
| Email Support | Yes | Yes |
| Text Support | No | Yes |
| Live Chat Support | No | 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?
AccountsBalance is better for online businesses, because it provides a dedicated team that gets to know your business. Paro provides a platform to hire experts, but it is on a contract basis and can result in regular turnover for your business as contracts end.
2. What should I consider when hiring a bookkeeper online?
First, list the needs of your business, including what tasks you wish to have your bookkeeper perform. Second, does the bookkeeper have the ability to grow with your business? Finally, you should look for a bookkeeper that is familiar with your industry.
3. What’s different between a freelance bookkeeper and these bookkeeping companies?
Bookkeeping companies provide a team that can execute a variety of services, along with having specialization in multiple industries, thus allowing them to grow with your company. Freelance bookkeepers can offer personalized services, but they are limited in what they can offer to a business, especially as it expands. Additionally, with Paro, contracts can end, so there is a lack of consistency and processes for your business over time.
4. How much does an online bookkeeping cost on average?
Online bookkeeping can average around $300 a month, but this cost can vary depending on the services and options your business uses and how many transactions you have per month. With Paro, the pricing will be based upon the contract and include additional fees for the use of the platform.
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
Paro is a great resource if you are looking to expand your business and add quality bookkeeping or accounting talent to your payroll. However, Paro is a resource to meet freelance bookkeepers and accountants, which can result in less than consistent results over time and greater turnover. AccountsBalance is geared toward small businesses, providing strong processes and consistent results while being budget-friendly. If you are looking for a true bookkeeping service, then AccountsBalance provides an expert service you can count on.
