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How much do Bookkeepers charge? A state-by-state breakdown Back to Articles Ready to Experience the +sup Difference? Join hundreds of businesses that trust us with their financial management. Let’s discuss how we can help your business thrive. Schedule Free Consultation View Our Pricing Plans You’ve realized it’s time to bring in a pro to help manage your company’s financial records. Great move! But now you’re probably asking: “How much do bookkeepers charge, and what kind of service truly fits my budget?” Figuring out the cost of bookkeeping can feel a bit like sifting through fog. There’s a lot of different information out there, and it’s not always clear what applies to your specific business. Plus, there are a few distinct ways to go about hiring a bookkeeper, which can make it tricky to compare apples to apples. Broadly speaking, there are three main paths to getting your books done professionally: bringing someone onto your team in-house, working with a traditional local bookkeeping firm, or partnering with an online bookkeeping service. Let’s break down the key things to think about, and the typical costs, for each option. How much do Bookkeepers charge? A state-by-state breakdown Hiring an in-house bookkeeper means bringing on a full-time employee dedicated to your financial records. The most obvious cost here is their salary, which can swing quite a bit depending on where your business is located. To help you set expectations, we’ve put together a chart below showing the average hourly rate for bookkeepers across different states. Remember, these are state-level averages, so actual rates in your specific city or town might differ. For instance, salaries in big cities like San Francisco or New York typically run higher than in smaller areas within the same state. Interestingly, being in a rural area doesn’t always mean cheaper. In places with fewer qualified financial pros, bookkeepers might charge more due to limited local supply. You’ll also likely pay a premium for someone with industry-specific experience or advanced expertise, whether your business is in a bustling city or a quiet town. Average Bookkeeping Rates by State (Annual & Hourly)   State Salary (mean) Hourly (mean) Alabama $42,950 $20.65 Alaska $56,910 $27.36 Arizona $51,930 $24.97 Arkansas $43,320 $20.83 California $59,680 $28.69 Colorado $42,830 $20.59 Connecticut $58,600 $28.18 Delaware $53,490 $25.72 Florida $50,800 $24.42 Georgia $48,850 $23.48 Hawaii $49,590 $23.84 Idaho $48,820 $23.47 Illinois $51,180 $24.61 Indiana $47,930 $23.05 Iowa $48,980 $23.55 Kansas $46,030 $22.13 Kentucky $47,150 $22.67 Louisiana $45,270 $21.77 Maine $51,530 $24.77 Maryland $56,080 $26.96 Massachusetts $58,180 $27.97 Michigan $39,130 $18.81 Michigan $50,070 $24.07 Minnesota $54,190 $26.05 Mississippi $42,860 $20.61 Missouri $51,050 $24.55 Montana $46,630 $22.42 Nebraska $47,160 $22.67 Nevada $52,050 $25.03 New Hampshire $52,070 $25.03 New Jersey $57,480 $27.63 New Mexico $48,300 $23.22 New York $57,950 $27.86 North Carolina $48,170 $23.16 North Dakota $50,070 $24.07 Ohio $49,300 $23.70 Oklahoma $46,400 $22.31 Oregon $52,920 $25.44 Pennsylvania $49,510 $23.80 Rhode Island $55,020 $26.45 South Carolina $47,780 $22.97 South Dakota $44,660 $21.47 Tennessee $48,150 $23.15 Texas $50,180 $24.13 Utah $50,150 $24.11 Vermont $53,250 $25.60 Virginia $50,970 $24.51 Washington $57,650 $27.72 West Virginia $42,120 $20.25 Wisconsin $49,710 $23.90 Wyoming $47,630 $22.90 So, you now have a general idea of what an in-house bookkeeper’s salary might look like, with a few things to keep in mind. However, their hourly wages or salary aren’t the whole picture when you’re hiring an employee. When you’re thinking about bringing on an employee, don’t forget to factor in the cost of benefits (like health insurance or other perks), the extra admin costs that come with managing a larger payroll, and the expenses involved in recruiting (sourcing, interviewing, and onboarding). A common guideline is that the true cost of an employee can be 1.25 to 1.4 times their salary and possibly even higher, depending on your local market conditions. Is hiring in-house bookkeeping services right for you? If you really want a lot of control and direct oversight over how your books are handled, an in-house bookkeeper might be the best route. With a direct employee, you’ll have a say in their daily tasks and can dictate how things are done. However, this comes with a high cost and can take up valuable time for entrepreneurs and business owners. Considering these factors, it’s worth exploring other options, such as a virtual bookkeeper like Sup. We are well-regarded for our excellent service and cost-effective pricing plans. Step 4: Go paperless (seriously!) While you’re catching up on your bookkeeping, make your life much easier by making your business paperless. As you process old paperwork, turn receipts, important documents, and other papers into digital files. Here are some tools that can help you go digital: Shoeboxed: Scans and organizes your receipts, then automatically creates expense reports from what you upload. FileThis: A handy smartphone app for photographing and storing receipts, statements, bills, and other documents online. Evernote’s ScanSnap Scanner: Automatically uploads and stores all scanned documents straight to Evernote. How much does it cost to work with an Online Bookkeeping service? Unlike traditional local bookkeepers, these services aren’t tied to a physical location, meaning you can access expert help from anywhere. Most online providers charge a clear, monthly rate, often based on your business’s needs, with extra costs only for specific services like managing invoices (Accounts Receivable/Payable). This means predictable costs for you, avoiding any surprise hourly fees. For example, Sup offers plans starting from $199/month, providing a cost-effective solution compared to many other virtual bookkeepers in the market, allowing founders to save time and focus on growth. Refer to Sup’s pricing at: +sup | Financial Services & Data Solutions Is an online bookkeeping service right for you? Like a traditional firm, an online provider puts your books in expert hands, without requiring you to spend time on direct oversight. If you want your books handled by a professional with regular, predictable costs, an online provider is a great option. For businesses with more complex structures or more than just a handful of monthly transactions, this can end up being

How to Catch up on Bookkeeping Back to Articles Ready to Experience the +sup Difference? Join hundreds of businesses that trust us with their financial management. Let’s discuss how we can help your business thrive. Schedule Free Consultation View Our Pricing Plans Sometimes, keeping your small business finances perfectly up-to-date can feel like a mountain, and a backlog can quickly build up. While Sup offers a fantastic Catch-Up Bookkeeping Service to handle this for you, we get that some business owners really want to tackle their overdue books themselves. If that’s you, no worries! Here’s a clear, step-by-step process you can use to power through that bookkeeping backlog and get your finances back in shape. Step 1: Round up your Financial Papers Your first mission: gather every single receipt and invoice tied to your business spending. Think of it like collecting all the pieces of a puzzle. Here are the key types of records you’ll want to dig out: Customer invoices: Double-check your customer records to ensure you have all invoices issued for the tax year. If your business uses the cash basis accounting method, you record income only when you actually receive the cash. For example, if you made a $1,000 sale in October 2024 but weren’t paid until February 2025, you’d record that income in February. However, with the accrual basis accounting method, you record the amount the moment the sale happens, even if the money hasn’t arrived yet. In that same example, under accrual basis, you’d recognize the $1,000 revenue right away in October. Debt collections: Check your customer accounts for any bad debt. If you use accrual basis accounting and a customer doesn’t pay you for work done, you might be able to write this off as a bad debt expense. To deduct this from your tax return, you’ll need to show the IRS you’ve tried hard to collect the money but couldn’t. Typically, bad debts reduce your business’s gross income for tax purposes. You can claim them using either the specific charge-off method (deducting a specific bad debt that becomes partly uncollectible during the year) or the non-accrual experience method (deducting income from gross income if you couldn’t collect the debt). Business expenses: Gather all receipts from every business purchase made during the tax year. You can also use a comprehensive list of small business tax deductions (like ones you find on the IRS website or from a tax pro) to make sure you’re tracking and claiming everything you’re entitled to. Vendor accounts: Look over your vendor accounts to ensure you’ve paid them in full. Make sure you have a copy of every bill from each vendor activity. If you don’t have one, reach out to the vendor right away to get a copy. This includes bills for business activities that are still ongoing during your business’s closing period, just to make sure these expenses appear on your year-end financial statement. Step 2: Sync up your Bank Accounts It’s super important to reconcile your bank accounts. Why? So you can catch any errors in your company’s records or even the bank’s. You’ll compare each transaction on your bank statement with the matching transaction in your business’s accounting records. The goal is to make sure the balance in your bank statement and your company records match up perfectly. If they don’t, find and fix those errors. Handing over unreconciled accounts to your bookkeeper or accountant can actually cost you more. If they have to spend extra time fixing your books, you’ll see those charges on your bill. By reconciling your accounts beforehand, you’re saving both your financial pro and yourself valuable time and money. Step 3: Keep business and personal separate We always tell our clients this: keep your personal and business expenses strictly separate. Mixing personal and business funds in the same account is called piercing the corporate veil. If you do this, especially as a corporation or LLC, you could lose the liability protection your company structure offers. That means you might become personally responsible for your business’s debts and actions – definitely something you want to avoid! Managing mixed personal and business expenses is also a major headache when it’s time for taxes or regular bookkeeping. It just takes way more time to sort everything out. If you’ve been mixing them, the sooner you open a separate small business bank account and keep your finances distinct, the better. If you’re ever unsure if a purchase counts as a deductible business expense, learn how the IRS differentiates personal and business expenses. Step 4: Go paperless (seriously!) While you’re catching up on your bookkeeping, make your life much easier by making your business paperless. As you process old paperwork, turn receipts, important documents, and other papers into digital files. Here are some tools that can help you go digital: Shoeboxed: Scans and organizes your receipts, then automatically creates expense reports from what you upload. FileThis: A handy smartphone app for photographing and storing receipts, statements, bills, and other documents online. Evernote’s ScanSnap Scanner: Automatically uploads and stores all scanned documents straight to Evernote. Step 5: Gather W-9s, 1099s, and W-2s If you paid independent contractors and/or employees during the tax year, you’ll likely need to file some specific forms: For Independent Contractors: Form W-9 & Form 1099-MISC Did you pay an independent contractor more than $600 for their work during the year? If so, you’ll need a Form W-9 from them and you’ll submit a Form 1099-MISC to the IRS. A W-9 is basically a form where the contractor provides their taxpayer information to you. You use this info to issue the 1099. Simply put, the Form 1099-MISC is the tax form the IRS uses to track payments made to independent contractors. Gathering W-9s and filing 1099s involves a fair bit of work. If you’re new to this or unsure about deadlines, look up guides on “How (and When) to File a 1099” to make it smoother. For Employees: Form W-2 You’re required to

Small Business Recordkeeping: Tax Records You Need to Keep Back to Articles Ready to Experience the +sup Difference? Join hundreds of businesses that trust us with their financial management. Let’s discuss how we can help your business thrive. Schedule Free Consultation View Our Pricing Plans Keeping good records for your small business might not be the most glamorous part of your day, but it’s absolutely vital. Think of it as your business’s financial storybook, and you want that story to be clear, complete, and ready for tax time. We see a lot of small businesses stumble here, so let’s walk through the essential tax records you need to keep and why they’re so important. Why even bother with good recordkeeping? You might be thinking, “Do I really need to hold onto every single receipt?” And the short answer is: yes, mostly! Good recordkeeping isn’t just about making your accountant happy; it’s about protecting your business and making smart financial decisions. Here’s why it matters: Acing your taxes: Accurate records make preparing your tax returns much smoother and help ensure you’re claiming all the deductions you’re entitled to. No more frantic searches or missed opportunities! Surviving an audit: Let’s face it, no one wants an audit. But if the IRS or your local tax authority comes knocking, having pristine records means you can easily back up every number on your tax return. This can save you from penalties and stress. Making smart decisions: Your records are a goldmine of information about your business’s performance. They help you understand your cash flow, identify trends, and make informed choices about where to invest or cut back. Meeting legal requirements: Various regulations require businesses to keep certain records for specific periods. Staying on top of this keeps you compliant and out of trouble. What records should you keep? (the nitty-gritty) Now, let’s get into the specifics. While every business is unique, there’s a core set of records that almost all small businesses should keep for tax purposes. 1. Income records: This is all about proving where your business’s money comes from. Sales receipts & invoices: Keep copies of every invoice you send and every sales receipt you issue. This includes cash sales, credit card transactions, and online payments. Bank statements & deposit slips: These show all the money flowing into your business accounts. Payment processor records: If you use platforms like PayPal, Stripe, or Square, make sure you have records of all transactions processed through them. Form 1099-NEC & 1099-MISC: If you received payments for services as an independent contractor or other miscellaneous income, you’ll get these forms. Keep them safe! 2. Expense records: don’t miss a deduction! This is where you can save real money. Every legitimate business expense can reduce your taxable income. Receipts, invoices, & bills: For every business expense, keep the original receipt, invoice, or bill. This includes everything from office supplies and software subscriptions to travel costs and professional fees. Make sure the receipt clearly shows the vendor, amount, date, and what was purchased. Credit card & bank statements: These are great for cross-referencing your receipts, but remember, the actual receipt is usually the primary proof. Mileage logs: If you use your personal vehicle for business, a detailed mileage log is crucial for claiming vehicle deductions. Note the date, miles driven, destination, and purpose of the trip. Home office expenses: If you claim a home office, you’ll need records related to rent/mortgage, utilities, insurance, and repairs. Payroll records: If you have employees, you’ll need to keep all payroll records, including timesheets, wage statements, tax withholdings, and records of benefits 3. Asset records: big purchases matter For larger purchases that you’ll use for more than a year (like equipment, vehicles, or property), you need special records. Purchase invoices: Document the cost and date of acquisition. Improvement records: Keep track of any significant improvements made to assets. Depreciation schedules: If you’re depreciating assets, your depreciation schedules are important tax records. 4. Payroll records: for when you have a team If you employ others, your payroll records are extensive and crucial. Employee information: Names, addresses, Social Security numbers. Timesheets and work records: Documenting hours worked. Wage and salary information: Rates of pay, gross pay, net pay. Withholding certificates (W-4s): From each employee. Payroll tax records: Federal, state, and local payroll tax filings and payment records (e.g., Forms 941, W-2s, state unemployment tax returns). Benefits records: If you offer benefits like health insurance or retirement plans. Other Important Documents Don’t forget these! Prior year’s tax returns: Always keep copies of your filed federal and state tax returns. Legal documents: Business formation documents (LLC articles of organization, partnership agreements, corporate bylaws), licenses, permits, and contracts. Loan documents: Records of any business loans, including loan agreements and payment schedules. Insurance policies: Copies of your business insurance policies. How long do you need to keep records?  This is a common question, and the general rule of thumb from the IRS is to keep records for three years from the date you filed your original return or two years from the date you paid the tax, whichever is later. However, there are exceptions: Seven years: For records related to losses from worthless securities or bad debt deductions. Four years: For employment tax records (from the date the tax becomes due or is paid, whichever is later). Indefinitely: For records related to property or assets (until a certain period after you dispose of the property). Business formation documents should also be kept indefinitely. When in doubt, it’s often safer to keep records longer, or consult with a tax professional. How to keep your records tidy and safe Gone are the days of overflowing shoeboxes! Digital recordkeeping is your best friend. Go digital: Scan paper receipts and documents. Store them securely in cloud services like Google Drive, Dropbox, or Evernote, or directly within your accounting software. This makes them searchable and less prone to loss. Categorize consistently: Use your chart of accounts to categorize income and expenses right

How to Hire the Right Bookkeeper for a Small Business Back to Articles Ready to Experience the +sup Difference? Join hundreds of businesses that trust us with their financial management. Let’s discuss how we can help your business thrive. Schedule Free Consultation View Our Pricing Plans Keeping your small business finances in tip-top shape might not be the most thrilling part of your day, but it’s absolutely essential. Think of it like building the strong, silent foundation of a skyscraper – crucial for everything that goes on top. We often see busy small business owners trying to juggle it all, and sometimes, the books take a backseat. So, let’s walk through how to find that perfect bookkeeper who can be your financial wingman. Thinking of handling your own books? Here’s why you might reconsider: You might be thinking, “Can’t I just use some software and do it myself?” And the short answer is: you could, but why would you want to? Hiring a professional bookkeeper isn’t just about handing off tasks, it’s about safeguarding your business and freeing up your precious time for what truly matters – Growing your business. The upsides you can expect: Reclaim your time: Stop drowning in receipts and spreadsheets. A good bookkeeper takes on the tedious, time-consuming tasks of data entry, bank reconciliation, and expense tracking. Accuracy you can trust: Mistakes in your books can lead to big headaches, from incorrect tax filings to missed financial opportunities. Professionals ensure your records are precise and reliable. Smarter financial decisions: With clean, up-to-date books, you’ll have a clear picture of your cash flow, profitability, and where your money is actually going. This insight is gold for strategic planning. Stress reduction: Let’s face it, financial worries can keep you up at night. Handing off your bookkeeping to an expert means one less thing on your plate and a whole lot more peace of mind. Tax readiness: Come tax season, you won’t be scrambling. Your bookkeeper ensures all your financial data is organized and ready, making tax filing a breeze and helping you capture every eligible deduction. Spotting your perfect Financial Partner: Key traits to seek out Now, how do you find this magical person? While every business is unique, there’s a core set of qualities that almost all small business owners should seek in their bookkeeping partner. A foundation of knowledge: This isn’t just about someone who knows how to use a calculator. Proven track record: Look for experience, especially with other small businesses or ideally, within your industry. They should understand the unique financial rhythms and challenges of businesses like yours. Qualifications: While formal certifications aren’t always required, they can be a good indicator of dedication and knowledge. Tech-savvy & tool-ready: Your bookkeeper needs to be fluent in the tools you use. Master of your chosen platform: Whether it’s QuickBooks, Xero, FreshBooks, or something else, ensure they’re proficient. Bonus points if they can advise on the best accounting software for your needs. Cloud-savvy: In today’s world, online bookkeeping services are common. They should be comfortable working in cloud environments, making collaboration easy and secure. More than just numbers: effective communication: Beyond the numbers, they need to connect. Clarity over jargon: Can they explain complex financial concepts in a way you understand? You don’t want someone who just spews accounting terms. Responsiveness: You’ll have questions. You need a bookkeeper who’s reachable and communicates promptly. The cornerstone of trust: This is non-negotiable. Confidentiality: You’re giving them access to your most sensitive financial data. They must be discreet and ethical. References: Always check them! Past clients are your best source of honest feedback. Anticipating your needs: The proactive edge: Your bookkeeper should be more than a data entry clerk. Problem-spotter: They should be able to flag potential issues, suggest efficiencies, and help you improve your financial processes. Insight provider: The best bookkeepers don’t just record; they help you interpret your financial reports to make better decisions. Your hiring playbook: Simple steps to success The process doesn’t have to be complicated. Define your needs: What specific tasks do you want them to handle? (e.g., payroll, invoicing, expense tracking, monthly reports). Craft a clear job description: Be specific about responsibilities and required skills. Interview thoughtfully: Ask scenario-based questions to see how they approach common bookkeeping challenges. Check those references: A quick call can save you a lot of grief later. Consider a trial period: A short-term engagement lets you test the waters for compatibility and performance. Discover the Sup difference We know that finding the perfect bookkeeper can feel like searching for a needle in a haystack. That’s where Sup comes in. Our dedicated team are designed to make finding and working with a top-tier bookkeeping service incredibly easy and effective. We can help you: Access expert bookkeepers: Our team comprises experienced professionals vetted for their skill and reliability. Certification: At Sup, we’re proficient in a wide range of bookkeeping platforms, including QuickBooks, Xero, Zoho Books, Wave, and many more, which ensures we’re compatible with any kind of help you need. Implement an organized financial system: Customized to your unique business needs, making sure every transaction has a home. Streamline your financial operations: From expense tracking to generating crucial reports, we make it all seamless. Gain financial clarity: We help you understand your numbers so you can make informed decisions for growth. Pricing: Our pricing offers a distinct advantage, often 50% less than what you’d find with other virtual bookkeepers like Bench, Pilot, Furey, and Zeni, all while exceeding your expectations for quality. With Sup on your side, you can stop worrying about your books and start focusing on what truly excites you – running and growing your small business. Let’s talk about how Sup can connect you with an expert bookkeeper to simplify your financial management! Ready to Transform Your Financial Management? Let our expert team handle your bookkeeping, data automation, and visualization needs while you focus on growing your business. Contact Sales

Virtual Bookkeeping: Hire the best Virtual Bookkeeper for your Business. Back to Articles Ready to Experience the +sup Difference? Join hundreds of businesses that trust us with their financial management. Let’s discuss how we can help your business thrive. Schedule Free Consultation View Our Pricing Plans Running a small business means you’re doing a lot, right? Keeping your finances in order is super important. Think of it like laying down a solid foundation for your house, everything else rests on it. We often see busy small business owners trying to do it all, and sometimes, the money stuff takes a backseat. So, let’s chat about how to find that perfect virtual bookkeeper who can truly be your financial go-to person. Understanding the remote record-keeper: What is Virtual Bookkeeping? A virtual bookkeeper handles your money records from anywhere which means they could be in another town or even a different time zone. All the heavy lifting, like sorting transactions and keeping your financial papers safe, happens inside special bookkeeping software. They link up with your bank and credit card accounts, so your transactions flow smoothly right into your books. Picture your virtual bookkeeper as a committed, flexible money pal. They work with a few clients, but they’re always there for your questions or chats about your finances. This setup often gives you the easy communication of a full-time bookkeeper, but at a more budget-friendly, part-time cost. It’s especially great if your business mostly uses digital payments, though they can totally handle cash stuff too. Why your Business needs Modern Bookkeeping: Every business, big or small, does better with solid bookkeeping. Up-to-date money facts are your guide, helping you make smart budget choices, spot possible tax write-offs, and glide through tax seasons without stress. Your books create important financial reports – like your balance sheet and income statement – which are packed with key info about your cash flow, how much money you’re making, and your overall business health. While basic bookkeeping helps you with taxes, the most successful businesses use super-accurate, current books to boost profits, cut costs, and make smart investments. It’s not just about staying out of trouble, it’s about helping your business fly. Why go Virtual with your Bookkeeping? A virtual bookkeeper could be your perfect match if: Time drain: Doing your own books eats up too much time. Behind on books: Your records are messy; you need a catch-up. Tax season dread: You want next year’s taxes to be easy-peasy. Maximize deductions: You want to track and claim every possible write-off. Accountant fees: Tired of paying your accountant just to fix your books at year-end. Financial fog: You’re not sure about your monthly profit or current cash. Virtual bookkeeping truly shines for businesses that mostly deal with online payments, like online shops or service providers. Digital stuff means quicker sorting and processing, making the remote way super efficient. Virtual vs. Local: The changing world of Bookkeeping Back in the day, local bookkeepers were the usual pick for small businesses. You’d find someone nearby and probably hand over your paper records each month. But now, things are pretty similar. Most local bookkeepers use the same smart bookkeeping software as the virtual ones. By linking up with your bank and credit cards, the software automatically records and sorts transactions, and creates your financial reports. You might actually find you rarely need to meet a local bookkeeper in person anyway. The main difference often comes down to how they set up their service, how much they use tech and how cost-effective they are. Times have definitely changed! A virtual bookkeeper can now do everything a local one can, often at half the price. If your business doesn’t require daily, in-person interactions with your bookkeeper, a virtual option could be a smart financial move that saves you a lot of money. Choosing Your Digital Financial Partner: Freelancers vs. Service providers: When you’re looking into virtual bookkeeping, you’ll generally find two main options: individual freelancers or dedicated services. Freelancers: Pros: You might get a really personal, one-on-one connection. Costs can sometimes be lower, depending on their experience. You might find someone who’s super good at one specific thing. Cons: Their experience and skills can vary a lot as there aren’t many set rules for what bookkeepers need. You’ll often need your own accounting software ready, and most communication might be through email or chat. If they get sick or go on holiday, you might be stuck. Plus, it can be harder to scale up if your business grows fast. Service Providers: Pros: Usually give you a team of bookkeepers, so you get steady support even if someone’s out. They often have better tech, like their own apps and automated features. They can also handle more complex situations and grow with your business. Cons: Might feel less personal than a single freelancer. Their prices can sometimes be less flexible or not as clear from the start (by the way, Sup makes sure to maintain transparency with prices and everything from the start) Sup: Your premier Virtual Bookkeeping solution: We get it, picking the right virtual bookkeeper can feel like finding a needle in a haystack. That’s why we built Sup to be the best answer for small businesses wanting super clear and easy financial management. Sup truly stands out as the top choice, no matter how big or complex your business is.  Sup: When it comes to your bookkeeping, Sup offers a significant advantage. Unlike general service providers, Sup provides a highly skilled team of certified bookkeeping professionals who are solely focused on financial management. This specialized expertise, combined with smart and intuitive technology, means your transactions are handled with precision, reports are clear and accurate, and you’re always prepared for tax season. You get truly personalized support with transparent pricing, ensuring exceptional value. While others might dabble in various functions, Sup’s deep-seated expertise in bookkeeping software like QuickBooks, Zoho, Wave, and Xero, and their dedication to helping founders focus on growth,

10 most common bookkeeping mistakes: Back to Articles Ready to Experience the +sup Difference? Join hundreds of businesses that trust us with their financial management. Let’s discuss how we can help your business thrive. Schedule Free Consultation View Our Pricing Plans Here’s a look at common bookkeeping mistakeswe often see (and fix!), along with our best advice on how to steer clear of them. 1.Guessing your way through Many entrepreneurs find themselves guessing when it comes to bookkeeping, especially if they’re not quite sure what they’re doing. The big problem? These guesses pile up, potentially leaving you with a year’s worth of books that need fixing come tax season. This can look like: Misclassifying expenses Missing out on tax deductions Filing deadlines blown because your books weren’t ready If any of this sounds familiar, don’t fret. We’ll show you how to avoid these snags. For now, just trust us: a “best guess” approach to your books will definitely come back to haunt you. Founders should be focused on growth, not getting bogged down in bookkeeping. Leave the technical stuff to the experts in this field so you can focus on what matters most- Growth. If you’re new to bookkeeping or feeling completely lost, it’s a good idea to brush up on the basics. And if outsourcing makes sense for your business, check out our tips on how to hire a good bookkeeper before you start your search. 2.Delayed bookkeeping To be fair, most people don’t exactly “enjoy” bookkeeping (we’re the exception, of course!). But if you wait until your receipt shoebox is overflowing and guilt forces you into a bookkeeping marathon, you’re setting yourself up for some serious headaches. You’ll likely: Struggle to remember what those receipts and transactions were actually for (let alone how you paid!). Find bank reconciliation becomes a total nightmare. Forget to document valuable tax-deductible expenses, meaning you won’t maximize your small business tax deductions for the year. Not have enough time to catch and fix small errors before they snowball into major problems. End up making business decisions based on outdated financial information. Our advice? Do your books monthly at the very least. Weekly is even better. Daily, if your bookkeeping needs are truly insane (at that point, as Sup suggests, you should probably hire a bookkeeper!). Ready to get your finances in order? Check out our services or schedule a free consultation today! 3.Mixing business and personal spending Imagine this: you’re out with a client for lunch, but you forgot your business credit card. No big deal, you can just use your personal debit card, right? In the moment, it seems easy to pay for a business expense with personal funds. But over time, mixing your finances like this turns bookkeeping (and taxes) into a confusing maze. It can even strip away a layer of legal protection if your business ever gets audited or sued. To avoid this pitfall, make it a habit to never use your own money for business expenses (and vice versa). Here are some tips to keep everything tidy: Manage your business finances in a dedicated small business bank account. Get a separate small business credit card. Put a sticker on your business bank cards to avoid confusing them with your personal ones. Keep a small amount of cash in your business checking account for quick, miscellaneous business expenses (so you’re not tempted to dip into personal funds when business accounts are low). Of course, if you accidentally use the wrong card, it’s not the end of the world. You can reimburse your business account or record the purchase as an “Owner’s Draw.” But why bother with the hassle if you can avoid it entirely? 4.Neglecting your financial statements Your financial statements are a direct window into your business’s financial health. If you’re not reading them regularly (or don’t know how to read them at all), you’re missing out on huge opportunities to boost revenue and dodge financial disaster. Financial statements can help you: Control your cash flow. Create and stick to a budget. Spot ways to maximize your tax deductions. Successfully apply for bank loans. Identify financial trends in your business. Know when to spend and when to save. Make smart financial decisions that fuel your business growth. Show potential investors how your business is performing. Unsure how to find this information in your financials? Learn how to read financial statements and ask your CPA for guidance. You’ll gain valuable financial insights, and your business will thrive in the long run. 5.Throwing away receipts! If receipts disappear (or end up in the trash), you won’t be able to back up the deductions you claimed on your tax return during an audit. You might even face a fine. A few quick notes about keeping receipts: Digital records are perfectly fine. You may need to present receipts upon request if your business is audited. To be safe, you should keep receipts for seven years. Snap a picture of receipts on your phone and store them in Google Drive, Dropbox, or Evernote—whatever’s easiest for you. Alternatively, upload photos of your receipts directly to your accounting software. Also, be sure to record the details of every expense (especially for meals and entertainment). This will make finding your receipts easy and help you justify the deduction during an audit. If you’re new to recordkeeping, grab a coffee and dive into our guide: Small Business Recordkeeping: Tax Records You Need to Keep. 6.Hiring an inexperienced bookkeeper!! When it comes to hiring a bookkeeper, you truly get what you pay for. That bookkeeper you found for $6/hour is probably worth… well, $6/hour. Hire someone with bookkeeping experience in your specific niche. They’ll have tips and tricks up their sleeve tailored to your industry, and they should be able to get your books done much faster. We’re experts in QuickBooks, Zoho, Wave, and Xero, and we work with numerous startups and small to medium-sized businesses (SMBs). Our main goal is to help busy founders like you

Top 5 Bookkeeping software solutions: Industries, pricing and more. Back to Articles Ready to Experience the +sup Difference? Join hundreds of businesses that trust us with their financial management. Let’s discuss how we can help your business thrive. Schedule Free Consultation View Our Pricing Plans In today’s ever changing business landscape, efficient bookkeeping is no longer a luxury but a critical necessity for survival and growth. From nascent startups to established enterprises, robust financial management underpins strategic decision-making, regulatory compliance, and ultimately, profitability. The advent of sophisticated bookkeeping software has revolutionized how businesses handle their finances, offering automation, real-time insights, and unparalleled accessibility. This comprehensive article delves into the top bookkeeping software solutions dominating the market: QuickBooks, Zoho Books, Xero, Wave, and a leading emergent contender, FreshBooks. We will meticulously examine their market penetration, industry prevalence, popular versions, pricing structures, and provide a concise pros and cons analysis to equip you with the insights needed to make an informed choice for your business. A statistical overview of the current bookkeeping software solutions: The accounting software market is a bustling ecosystem, with cloud-based solutions leading the charge. In 2024, the global accounting software market is valued at approximately USD 19.38 billion, projected to reach USD 31.25 billion by 2033, growing at a CAGR of 8.4%. North America, particularly the U.S., remains the dominant market, driven by stringent regulatory frameworks and a strong adoption of advanced functionalities. Cloud-based accounting solutions hold the largest market share, signaling a clear shift away from on-premise deployments. While precise, real-time market share percentages for each individual software can fluctuate and are often proprietary, general trends and reported user bases provide valuable insights into their widespread adoption. Key market insights (approximate figures): QuickBooks (Intuit Inc.): Commands a significant market share, particularly in the small business segment. QuickBooks Online boasts over 5 million users worldwide, while QuickBooks Desktop has over 3 million users. This indicates a dominant position, estimated to be around 37-75% of the accounting software market, depending on the specific segment and reporting methodology. Xero: A strong contender globally, Xero is used in over 180 countries by more than 3.7 million subscribers. While its precise market share percentage against the entire accounting software market is lower than QuickBooks, it has a substantial and growing presence, especially among cloud-first businesses. Zoho Books: Part of the broader Zoho ecosystem, Zoho Books has a smaller but growing market share, estimated around 0.54% of the overall accounting software market. Its strength lies in its integration with other Zoho products. Wave Accounting: Primarily targeting freelancers and very small businesses, Wave is known for its free core accounting features. Its market share is relatively small, with data indicating around 0.1% in the payroll category, but it’s widely used by solopreneurs. FreshBooks: Positioned strongly for service-based businesses, FreshBooks focuses heavily on invoicing and time tracking. While specific market share percentages are less readily available, it’s consistently ranked among the top accounting software for its target audience. Deep dive into top Bookkeeping software solutions: Let’s explore each software in detail, examining their industry strongholds, popular versions, pricing, and a concise pros and cons assessment. 1.QuickBooks (Intuit Inc.) Overview: QuickBooks, developed by Intuit, is arguably the most recognized and widely used accounting software for small and medium-sized businesses globally. It offers a comprehensive suite of features for invoicing, expense tracking, payroll, inventory management, and financial reporting. Available in both desktop and cloud-based (Online) versions, it caters to a broad spectrum of business needs. Usage Percentage: Approximately 37-75% of the accounting software market (depending on the specific market segment), with over 5 million QuickBooks Online users and 3 million QuickBooks Desktop users worldwide. Well-known industries: Retail: Inventory management and sales tracking. Service-based businesses: Invoicing, time tracking, and project profitability. Construction: Job costing and project management. Non-profits: Fund accounting and reporting (with specialized versions). Freelancers & small businesses: General bookkeeping and tax preparation. Popular versions: QuickBooks online (QBO): The most popular cloud-based version, constantly updated with new features and accessible from anywhere. Available in Simple Start, Essentials, Plus, and Advanced tiers. QuickBooks desktop: Still widely used, particularly by businesses preferring on-premise solutions or those with very specific industry needs. Includes Pro, Premier, and Enterprise editions. Pricing (monthly, subject to change and promotions): QuickBooks Online Simple Start: ~$35/month QuickBooks Online Essentials: ~$65/month QuickBooks Online Plus: ~$99/month QuickBooks Online Advanced: ~$235/month QuickBooks Desktop: One-time purchase, typically ranging from a few hundred to several thousand dollars depending on the edition and user count, with annual renewal fees for support and updates. Pros: Industry-standard with extensive features for various business types. Vast ecosystem of integrations and third-party apps. Robust reporting and customization options. Strong community support and abundant learning resources. Cons: Can be expensive, especially for advanced features and multiple users. Customer support experiences can be inconsistent. Steep learning curve for some users new to accounting. Frequent price increases reported by users. At Sup, we are QuickBooks certified and partner with organisations of all sizes to ensure their bookkeeping is always in pristine order. 2.Zoho Books Overview: Zoho Books is a cloud-based accounting software that is part of the extensive Zoho Suite, offering seamless integration with other Zoho applications like CRM, HR, and project management. It provides features for invoicing, expense tracking, banking, inventory, and comprehensive reporting, making it a strong contender for businesses already invested in the Zoho ecosystem. Usage percentage: Estimated around 0.54% of the accounting market. While smaller than QuickBooks or Xero, it is growing steadily, especially among businesses seeking an integrated suite. Well-known Industries: Small to medium-sized businesses (SMBs): General accounting and operational integration. Consulting and IT Services: Project management and time tracking. E-commerce: Inventory management and sales tracking when integrated with other Zoho tools. Businesses using other Zoho products: Seamless integration for a unified platform. Popular versions: Zoho Books offers various plans rather than distinct versions, with features scaling up. Free: Basic invoicing, expense tracking for solopreneurs. Standard: Includes more invoices, bills, and users. Professional: Adds more users, purchase orders, sales orders, and advanced project

What really affects the cost of Hiring a Bookkeeper in 2025? (It’s not just a number!) Back to Articles Ready to Experience the +sup Difference? Join hundreds of businesses that trust us with their financial management. Let’s discuss how we can help your business thrive. Schedule Free Consultation View Our Pricing Plans Let’s talk about something that often feels like a mysterious black box for many business owners: the cost of getting your books in order. You know you need someone reliable to handle the nitty-gritty financial stuff, but when you start looking, the price tags can swing wildly. In 2025, it’s more than just a simple hourly rate or a flat monthly fee. There’s a whole symphony of factors playing behind the scenes, and understanding them can save you a pretty penny (or help you budget smarter for top-tier help). Mistake-proof your money with Automation: So, let’s peel back the layers, shall we? 1.Your business’s “messiness factor” (aka scope & complexity) Honestly, this is probably the biggest piece of the puzzle. Think of it like this: How many transactions are we talking about? If you’re running a small online shop with a few dozen transactions a month, that’s wildly different from a manufacturing business with hundreds of invoices, multiple payment gateways, and international transactions. More transactions, more data entry, more reconciliation so more work, more cost. Are your books already a hot mess? If your shoebox of receipts is legendary and your last bank reconciliation was sometime during the previous decade, expect to pay a “cleanup” fee. Bringing order to chaos takes time, patience, and often more senior-level expertise. Starting with clean books? You’re already ahead of the game! What exactly do you need done? Just basic categorizing and bank reconciliations? Or do you need payroll processing, accounts payable/receivable management, sales tax filing, financial reporting for investors, budgeting, forecasting, or even a bit of advisory work? The more services you pile on, the higher the cost. Basic bookkeeping is one thing; becoming your go-to financial co-pilot is another. Transaction Specifics: The cost of your bookkeeper also increases with transaction specifics. This includes the unique complexities of Crypto/On-Chain Activity, the detailed tracking required for Inventory, and the varied income streams from Non-Subscription or Usage-Based Revenue. Similarly, Lending Businesses demand a highly specialized approach. Essentially, the more intricate or unique your financial movements, the more comprehensive (and thus, more costly) the bookkeeping support becomes. Industry Specifics: Some industries are just naturally more complicated. Think healthcare with all those compliance rules, construction with job costing, or e-commerce with huge volumes and returns. If your bookkeeper needs specific industry knowledge or software expertise (like QuickBooks for Contractors or specific SaaS billing platforms or industry specific PoS), that specialized skill set commands a higher rate. 2.The human element: Experience, Expertise, & Location: Just like any profession, not all bookkeepers are created equal. Experience level & Expertise: A junior bookkeeper fresh out of school is going to cost significantly less than a seasoned “full-charge” bookkeeper who’s seen it all and can practically read your mind (or at least your financial statements). Certifications (like a Certified Bookkeeper or even a CPA, if they’re offering bookkeeping services) also play a big role. You’re paying for their wisdom and ability to catch things before they become huge problems. Location (Remote vs. In-person): Ah, the WFH revolution! While remote bookkeeping often can be more cost-effective (no office space, fewer overheads for the bookkeeper), don’t assume it’s always drastically cheaper. Highly skilled remote bookkeepers, especially those with niche expertise, still command competitive rates because they’re not limited by geography. However, if you’re open to outsourcing to, say, talent in lower cost-of-living countries like India (where we are, by the way!), you might find some seriously attractive rates for high-quality work. It’s all about accessing a wider talent pool with the right expertise. 3.The tech factor: Software & Automation: We’re in 2025, and technology is, like they say, a game-changer. Your software stack: If you’re already on a prominent, integrated cloud accounting system (think QuickBooks Online, Xero, Zoho Books), it can actually make a bookkeeper’s life easier and potentially reduce their time spent, thus lowering costs. If you’re still on ancient desktop software or, gasp, spreadsheets for everything, it might take more effort (and cost) for them to navigate. Automation tools: Good bookkeepers embrace automation. Tools for receipt scanning (like Dext or Hubdoc), automated transaction categorization, and seamless bank feeds mean less manual data entry. If a bookkeeper leverages these, they can be more efficient, and often that efficiency translates into more competitive pricing for you. They’re spending less time on tedious tasks and more on analysis (which is where the real value often lies). 4.Pricing models: hourly, fixed, or value? How you’re charged also makes a big difference: Hourly rates: The old classic. Simple, straightforward. You pay for the hours they work. This can be great for one-off projects or if your needs fluctuate, but it can also feel a bit open-ended if you’re worried about hours racking up. Fixed monthly fees: This is super popular now. The bookkeeper assesses your needs and offers a flat monthly fee. This gives you predictability and budget certainty, which is a huge relief for many business owners. The bookkeeper aims for efficiency to make their margin here. Value-based pricing: This is the new kid on the block (well, well, not that new, but gaining traction). Here, the price isn’t just about time spent or transactions. It’s about the value the bookkeeper brings to your business like the insights, the money saved, the peace of mind. This often comes with more advisory services and higher-level strategic input. You’re paying for outcomes, not just tasks. So, how can Sup simplify this? Understanding and walking through this complex situation can feel like a full-time job, especially when you’re trying to directly hire an individual. This is where a dedicated finance and bookkeeping service provider like us at Sup steps in to streamline everything for you. We’re not just offering a

How Automated bookkeeping is rewriting Financial Management in 2025: Back to Articles Ready to Experience the +sup Difference? Join hundreds of businesses that trust us with their financial management. Let’s discuss how we can help your business thrive. Schedule Free Consultation View Our Pricing Plans Ever feel like your business’s financial engine is always running on fumes, constantly playing catch-up? In 2025, that feeling is becoming a relic of the past, thanks to a quiet revolution driven by automation and artificial intelligence (AI). For any business striving for real efficiency, serious scalability, and genuinely real-time financial insights, sticking to old-school manual bookkeeping is frankly like trying to win a race with a horse and buggy. Here at Sup, an ever so supportive provider of financial services right across India, we’re seeing it firsthand: automated bookkeeping solutions aren’t just making things a bit smoother, they’re completely redrawing the map for corporate finance and financial operations. This isn’t just about punching numbers faster, it’s about unveiling a whole new level of strategic financial decision-making. Mistake-proof your money with Automation: To be entirely honest, the sheer volume and speed of today’s financial transactions are just too much for human hands alone. In 2025, if you want your business to have truly robust financial health, automated bookkeeping solutions aren’t a nice-to-have, they’re essential. Pinpoint accuracy, every time– Think about it, how many little errors creep in with manual data entry? Those tiny mistakes can snowball into big discrepancies, delayed reconciliations, and even costly compliance headaches. But with automated accounting software, powered by smart Machine Learning (ML), every single transaction is meticulously recorded and categorized. This means financial reporting gets a massive boost in accuracy, giving you consistently reliable financial data. If you’re looking for real cost savings and genuine peace of mind, that level of precision is simply invaluable. Get the full financial picture, real-time. Imagine knowing exactly where your cash flow stands, how your profitability is trending, and seeing all your key performance indicators (KPIs), literally moment by moment. That’s what real-time financial data automation delivers. Instead of waiting anxiously for month-end closes, you can now pull up dynamic dashboards that give you instant visibility into your financial performance. This rapid access to actionable intelligence lets you make quick, smart decisions, adapting on the fly to market shifts or unexpected opportunities. In today’s fast-moving economy, that kind of agility in optimizing financial operations is non-negotiable. Freeing up your best minds for what matters: This is one of the biggest, often un-appreciated, wins for automated bookkeeping: how it empowers your people. By letting the machines handle repetitive, time-consuming tasks like invoice processing, expense management, and bank reconciliation, your finance team is liberated from the daily grind. This means they can finally step up to higher-value activities: Digging deep into financial analysis Crafting brilliant strategic financial planning Spotting potential risks (and opportunities!) Sharpening your forecasting and budgeting Uncovering new avenues for growth Imagine your finance experts not just processing but truly advising and driving your company’s strategic goals. That’s the power of automation. Taking your Finances to the next level with Automation No audit stress, just staying compliant automatically: The world of financial regulations is always changing, and keeping up can feel like a full-time job, trust us, WE KNOW! Automated bookkeeping systems, especially when teamed up with clever Regulatory Technology (RegTech), are a fantastic solution. They can automatically track new rules, flag any potential compliance slip-ups, and even generate those automated reports for tax authorities. This ensures you’re always aligned with RBI and SEBI regulations here in India, helping you avoid headaches and penalties which are critical for financial institutions and all kinds of corporations. Ironclad data security, no compromises: As our financial processes become more digital, keeping your data safe is paramount. Modern cloud-based accounting solutions aren’t messing around, they use tough encryption, strict access controls, and regular security checks to protect your sensitive financial information. When you’re dealing with your money, knowing your provider puts robust cybersecurity protocols first is just plain smart business. Grow without headaches: Whether you’re a startup rocketing upwards or an established enterprise, automated bookkeeping is built to grow with you, really. These systems effortlessly handle more and more transactions without you needing to constantly add more manual staff or hours. It’s the perfect backbone for businesses with big growth plans, making sure your financial management infrastructure expands smoothly right alongside your company. How Sup can help: Sup truly believes that real financial transformation happens when smart technology meets brilliant human expertise. Our approach to automated bookkeeping goes way beyond just installing some software. We combine the raw power of AI, Machine Learning, and Robotic Process Automation (RPA) with our deep understanding of financial services. This means we can offer you: Custom solutions: We don’t do one-size-fits-all. We build automation workflows that perfectly fit your unique business model and whatever specific industry challenges you face, say from complex debt broking compliance to detailed e-commerce reconciliation. Expert human touch: Our team of certified finance professionals provides that essential human oversight. They’re there to interpret the automated insights, handle those tricky exceptions that tech alone can’t manage, and give you the strategic guidance you need. Complete financial mastery: From automating your accounts payable to sophisticated financial forecasting, we offer a full suite of financial solutions designed to make your entire finance function smarter and more effective. Ready to future-proof your finances? So, the future of money for businesses is looking super automated, smart, and totally on point for strategy, right? But is your business geared up for that? If you’re wondering how to get your finances in shape for what’s next, why not schedule a free consultation call with us today? In a personalized 30-minute chat, our experts will: Get to know your unique business needs and financial pain points. Understand what’s most important to you in a bookkeeping solution. Show you firsthand how Sup’s intelligent, automated solutions can streamline your accounting. Get all your questions answered and discover