Merritt Bookkeeping is a professional bookkeeping service that helps you consolidate your accounting, reconcile bank statements, generate financial reports, and simplify tax filings. Its features include automated bank statement retrieval, QuickBooks integration, and simplified web interface. Its full service costs $190 per month, and it is best for small businesses looking for a bookkeeping solution with a fixed monthly price.
Merritt Bookkeeping Pros and Cons
Offers a flat-rate pricing
Offers fewer services than other similar service providers
Reliable tax filing service
Does not provide tax filing for other forms aside from 1099
Simple and user-friendly web interface
Who Merritt Bookkeeping Is Best For
- Small businesses looking for a bookkeeping service with a fixed monthly price: Merritt Bookkeeping offers small businesses a simple and affordable flat-rate plan to help them avoid the burden of additional account fees.
Merritt Bookkeeping Pricing
Merritt Bookkeeping offers a full bookkeeping service for a flat-rate fee of $190 per month. It also offers catch-up services at discounted rates ($140 per month), both for those who have and don’t have a QuickBooks file.
Catch-Up (With QuickBooks File)*
Catch-Up (Without QuickBooks File)
*For clients who have a QuickBooks file, the discount goes up to $50 for months that are almost complete and only need a minimal update.
Merritt Bookkeeping also provides a 1099 issuance service at an additional cost. They will prepare your reports for $75, and if you already have the 1099 forms that need to be filed, they will only charge you $8 per form for the filing.
Merritt Bookkeeping Alternatives 2020
Online Bookkeeping Services
(Best Overall) Businesses that need full-service bookkeeping
Businesses that need an all-in-one solution for managing their finances and taxes
Businesses that currently use Xero or want to move to Xero
Those who would like mobile access to financial data
Businesses that sell products
Those who want to use integrations
Businesses that require industry-specific financials
In addition to industry-specific software, your business might well be served by general-purpose small business accounting software.
Merritt Bookkeeping Features
Merritt Bookkeeping has a wide range of features designed to help simplify basic bookkeeping processes like bank statement retrieval and financial reporting. Below is a list of some of its most notable functionalities to help you decide whether Merritt Bookkeeping is for you.
Transaction Detail Sheet
Merritt Bookkeeping has a built-in transaction detail sheet that allows you to categorize your transactions easily. Linked in the dashboard, the sheet shows all the details of the transactions that make up your financial reports. Type your required changes into the sheet, and Merritt Bookkeeping will update them for you.
Automated Bank Statement Retrieval
Merritt Bookkeeping collects payment files automatically and safely, enabling you to get real-time access to your liquidity positions, cash flows, and payment approvals.
Its interactive dashboard gives you instant access to your balance sheet, monthly or annual income statements, and expense graphs, helping you track your business’ fiscal performance.
Merritt Bookkeeping’s team can help you file appropriate IRS 1099-MISC forms, ensuring that you settle your taxes before the yearly deadline.
Summary of Merritt Bookkeeping Reviews
As of the date that this article was written (August 3, 2020), there are no up-to-date Merritt Bookkeeping reviews online. However, some of its previous clients shared on Yelp that its bookkeeping team did a great job of helping them file their taxes. If you are a past or current Merritt Bookkeeping customer, then kindly leave a review to help others who are deciding whether to use the service.
Merritt Bookkeeping Frequently Asked Questions (FAQs)
What financial reports will I receive every month?
You will receive the following financial reports every month:
- Profit and Loss – 12-month Comparison Graph
- Profit and Loss – 12-month Comparison Table
- Profit and Loss – Yearly Comparison
- Profit and Loss – Year-to-Date (YTD) by Class
- Balance Sheet – Yearly Comparison
When can I view my monthly reports?
You may view your monthly financial reports by the second or third week of the following month.
Do I need to provide any additional information to my CPA for tax filing?
No, you don’t. Merritt Bookkeeping provides tax-ready monthly reports, so there’s nothing you need to provide to your certified public accountant (CPA).
What if I’m not satisfied with its service?
If you are not happy and satisfied with its service, then you may request your money back within 90 days of having purchased its service.
Our Top Online Bookkeeping Service Providers
In case you still aren’t sure that Merritt Bookkeeping is right for you, then this article on the best online bookkeeping services is a review of our top choices. In this guide, we looked at a variety of solutions and narrowed our recommendations down based on key services like bookkeeping, payroll, and tax services.