10 Best Payroll Services For Small Business Of 2025

Running afoul of tax rules can lead to hefty penalties being levied against your company. The two most common SMB accounting operations are payroll and invoicing. Rather than switching between two separate apps for each function, Wave Payroll gives you access to create and send invoices without any added charges. Getting payroll right is a core competency of any business, especially considering the dire consequences of payroll failures. Square Payroll shows that you don’t have to pay a premium price to get a first-rate payroll service for your SMB.

Find high-quality accounting partners

Manhattan Bookkeepers, Inc. continues to receive positive reviews due to the firm’s professional and reliable service. 1-800Accountant New York provides bookkeeping Online Bookkeeping services to trucking companies, real estate agents, self-employed individuals, e-commerce shops, and nonprofit organizations. Its clients get assigned to local bookkeepers and accountants with whom they can connect online through the firm’s portal. The agency also provides year-round tax advice, business and personal tax preparation, and audit defense services. 1-800Accountant has been featured in various publications, including the Wall Street Journal, the New York Times, and Forbes. Good accounting helps you manage cash flow, make informed financial decisions, and stay compliant with tax regulations.

• You want a solution backed not only by technical experts but also by real-world accounting and bookkeeping professionals to help ensure your books are accurate at all times.
• You can integrate your accounting data with numerous related apps and functions, like CRM, customer service, and email.
• Integrated payroll and double-entry accounting support make it an option for small businesses with several employees, though others on this list are better for those purposes.
• We partner with trusted platforms like Xero, QuickBooks Online, and Gusto to bring accuracy, automation, and smoother workflows to your business.
• The two key accounting systems are cash accounting and accrual accounting.
• Use this template to review each item and determine the overall month-end cash position for each time period.

Assign Transactions to Specific Accounts

• Setting up a small business payroll system is necessary when hiring employees.
• With this support, you can understand your business’s financial health at a glance and focus your energy on other tasks.
• Accounting provides critical insights into a business’s financial health, enabling better decision-making related to pricing, inventory management, expense tracking, investments, and growth strategies.
• By clicking “edit dashboard,” you can only remove a couple of reports but cannot add any new ones.
• Equity is the value of your business assets minus the liabilities; it’s basically the value you’d place on your company if you had to put a price tag on it today.

The best choice depends on your business’s size, complexity, and budget. When choosing the right bookkeeping software for you, you’ll find both free and paid options. Free tools, such as Google balance sheet Sheets budgeting templates or basic versions of cloud-based platforms, may be suitable for sole traders or businesses just getting started. However, they often have limited features and may not scale as your business grows.

Best Online Bookkeeping Services for Small Businesses in 2025

Once you’ve sent your invoice, you can then track invoices to ensure they’re paid, run reports that show the age of each outstanding invoice and apply invoice payments to specified transactions. Once you’ve landed on the custom reports you need, you can view, print or export them using Excel, email, pdf format, text or html format. In addition, AccountEdge offers a free account for your accountant so they always have real-time access to your reports.

Patriot Software Accounting is affordable and provides robust support. Its attractive, intuitive UI and exceptional mobile access add to its appeal. Although it’s missing some features that competitors offer and includes some complex language and concepts that rivals keep in the background, it’s still a worthwhile choice for keeping costs down. Setting up a small business payroll system is necessary when hiring employees. This involves creating a payroll schedule, withholding the correct taxes, and managing employee compensation.

Feeling bogged down by repetitive processes and redundant work?

This payroll register template includes a pay stub and a register of employee information to help you process payroll. The pay stub tab displays payment and withholdings for an individual employee, while the bookkeeping register lists employee job titles, salaries, vacation and sick allowance, and pay schedule. It also shows pre- and post-tax deductions, such as 401(k) contributions and insurance, and federal and state taxes. Create a detailed report that displays quarterly cash flow projections. This template allows you to track the variance between your projected and actual cash position for each month and calculates total cash payments and net cash change. List each invoice by ID number, date, customer name, description, and amount.