Best Bookkeepers in Chicago: How to Choose the Right Fit for Your Business

Bookkeeping has long been recognized as a major factor for sound financial management of businesses operating in Chicago. Recent data shows that, in fact, over 70% of small businesses in Chicago are now regularly outsourcing their bookkeeping services. And with many new providers of bookkeepers now available to Chicago business owners, including dedicated bookkeepers, cloud-based services provided entirely online for Chicago business owners, there are more choices than ever in 2020 when hiring the best bookkeepers in Chicago.

Selecting the best online bookkeepers in Chicago is based on multiple factors, which include: costs, reliability, expertise, and technology. It is essential to understand what each of the service providers offers, and how it will help Chicago business owners make much more informed decisions.

Why Bookkeepers in Chicago Are Important For Business Growth

Bookkeepers in Chicago perform several roles key to proper business function, including:

• Keeping track of income and expenses daily.
• Reconciling bank/credit card statements.
• Processing payroll and deductions for employees.
• Preparation of monthly and annual financial statements.
• Proffering support with their tax filing and compliance needs.

These services enable accuracy to reduce the risk of errors and oversight, and allow peace of mind to maintain focus on what they do on a daily business basis.

Important Qualities to Look for in Chicago Bookkeepers

Below are some of the qualities to look for in the best bookkeepers in Chicago with The Fino Partners:

Credentials and Expertise

• Certified public accountants (CPAs) and QuickBooks ProAdvisors provide a greater sense of quality assurance.
• Look for providers with the capability and experience relevant to your industry (retail, technology, real estate, and nonprofits).
• Ask about ongoing education and training on recent changes to compliance and software.

Transparent Pricing and Packages

• A good bookkeeper will show you their service packages with fixed fees and flexibility as you add additional services or expand your team. 
• You should ask if their price list is comprehensive and confirm that there are no hidden fees by asking for a detailed quote.

Technology Integration 

• The better bookkeepers will use cutting-edge accounting systems like QuickBooks Online, Xero, or FreshBooks, along with a suite of automation tools to handle things like expenses and payables with minimal complication or effort. 
• Good bookkeepers will have remote access to those systems, will back up securely and reliably, and have secure data storage. 

Comparing Bookkeepers Chicago: Online vs. Local

Let us compare local and online bookkeepers in Chicago:

Online bookkeepers often offer speed and convenience, while local experts provide nuanced advice and build deeper relationships.

How Do I Find the Best Bookkeepers in Chicago for My Small Business?

Here is a detailed guide on how to find the best bookkeepers in Chicago with The Fino Partners:

1. Define Your Needs and Budget

• Are you needing monthly reporting, payroll, or tax help?
• How much do you want a hands-on approach (in-person vs. online)?
• What is your expected budget for bookkeeping services?

2. Do Your Research and Ask for Referrals

• Research reviews and ratings on platforms like Yelp, Clutch, and industry lists.
• Ask any other business owners (in your industry) for trusted referrals.

3. Check Credentials and Experience

• Look at the bookkeeper's credibility, experience, and professionalism.
• Look for bookkeepers who have professional certifications and prior happy clients.
• Look for industry specialties as well (local taxes, Illinois, etc.).

4. Ask for Proposals and Demos

• Ask for proposals or demos to show how potential bookkeepers handle accounts, technology, and communication.
• Ask for trial periods or sample reports.

5. Evaluate their communication style

• Make sure the bookkeeper responds in a timely manner to communication, clear and concise.
• Being in contact consistently is important for small businesses managing the rapid changes.

Are Online Bookkeepers in Chicago More Reliable than Local Bookkeepers?

Online bookkeepers in Chicago offer:

• Secure, reliable cloud-based recordkeeping
• Lower overhead costs often translate into client savings
• Access to broader talent pools and expertise in national compliance

Local bookkeepers offer:

• Personal interactions and greater industry insight
• In-person help during audits, tax prep, or sensitive issues
• Deeper understanding of local tax laws

Most small businesses now choose a mix, with online bookkeepers for routine work and local bookkeepers for complex, relationship-driven projects.

Pricing for Bookkeepers in Chicago

Have a look at the basic pricing structure of bookkeepers in Chicago:

Online services may be more economical for startups and small businesses, but companies with a personal touch and a more advisory service may charge more for that premium value.

Finding the best bookkeepers in Chicago, whether locally or online, requires one to have a deep understanding of one's business needs, one's comfort with technology, and one's personal preferences in how to communicate.

Related Resources

• Step-by-Step Guide to Hiring a Bookkeeper for Your Chicago Small Business
• Affordable Personal Bookkeeping in Chicago vs. New York: Who Needs It Most?
• Should You Hire a Personal Finance Bookkeeper in Chicago?

By focusing on quality of service, transparency in pricing/fees, technology and references, companies in Chicago could locate the perfect bookkeeping associate to attain efficiency, compliance, and sustained success.

Contact The Fino Partners today to hire the best online bookkeepers in Chicago.