"FinancePal is your one stop shop for all your bookkeeping needs. "
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Pros
  • Offers catch-up bookkeeping on top of regular bookkeeping
  • Provides regular financial statements
  • Custom add-on services
  • All-in-one solution backed by industry-leading applications
Cons
  • Must speak to a sales rep before starting a free trial
  • Unclear pricing
Company Background

A Chicago-based tax firm named CommunityTax launched FinancePal in 2019 to venture into other accounting services. FinancePal mixes software and live bookkeeping professionals to offer more personalized support.

Plans & Pricing

FinancePal provides custom quotes to each customer. You pick which services you’d like FinancePal to do for you, provide them with information about your business (industry, products or services, etc.), and FinancePal draws up a custom price.

If you opt solely for bookkeeping services, then you’ll likely pay less than a company hiring FinancePal for comprehensive accounting and tax solutions.

With that said, it has two preset plans that cover its customers’ most common accounting and bookkeeping needs.

Basic
$110/mo
FREE trial
Plus
$299/mo
FREE trial
Custom
Request a Quote
Features & Functionality
General Features

Live Bookkeepers

Many bookkeeping options out there are simply software programs. You have to hire a separate bookkeeper to use the software you invest in if you don’t want to do the books yourself.

FinancePal is different because it’s actually a hybrid accounting firm. Yes, you use software to access some things, but you have a dedicated accounting expert on your side to help you deal with all things bookkeeping (and sometimes more).

Catch-Up Bookkeeping

Most business owners initially talk to bookkeepers because they haven’t had time to do their own bookkeeping, and the books are a bit messy. Some of these entrepreneurs don’t even necessarily need a bookkeeper — they may just need an expert to go over everything one time and make sure things look good.

FinancePal addresses this with catch-up bookkeeping services.

Accounts Payable/Receivable

Accounts payables and receivables are perhaps your most time-consuming accounting tasks, but they’re vital to getting paid and not making your vendors hate you.

Naturally, FinancePal can do both. Through a mix of software automation and live services, your expert accountant will help you maximize cash flows, take advantage of early payment discounts, and update your books for every transaction.

Small Business Income Tax

Business taxation is one of the more challenging aspects of bookkeeping. The IRS punishes even honest mistakes, unfortunately, despite how complex the tax code is.

FinancePal’s accountants help you keep accurate records and accompanying documentation throughout the year so you’re ready for tax season. Your expert help will also assist you in filing your return and maximizing deductions. FinancePal can handle taxation for C-corporations, S-corporations, LLCs, partnerships, and more.

To streamline things, FinancePal provides an online portal containing your tax stuff. You can check on your returns’ progress and access tax data as needed through this portal.

Regular Financial Statements

With FinancePal will ensure your financial information is dead-on every time, giving you the information you need to make accurate and profitable decisions.

Moreover, FinancePal sends you financial statements weekly and monthly to keep your finger on the pulse of your business.

Features
  • General Ledger
  • Manages Accounts Payable/Receivable
  • Income & Expenses Tracking/Management
  • Account Reconciliations
  • Bookkeeping Services Integration
  • Financial Reporting
  • Receipt Scanning
  • Invoicing
  • Dashboards
  • Auditing
  • Inventory Tracking/Management
  • Pay Bills
  • Cloud-based
  • Collections
  • Multi-currency
  • Multi-user Access
  • Manage Vendors/Contacts
  • Manage Purchase Orders
  • Bank and Credit Card Synchronization
  • Payroll Management
  • Convert Quotes to Invoices
  • Mobile App
Tax Preparation
Features
  • Tax Compliance
  • Manage Tax Calculations/Reporting
  • Accountant-prep Friendly/Accessible
Time-Saving Automations
Features
  • Automation of Invoices/Notifications
  • Suggests Transaction Matches
  • Purchase Order Automation
Add-Ons

As mentioned, FinancialPal offers custom quotes depending on which services you ask for. Besides bookkeeping, you can hire FinancePal for tax consulting, sales tax matters, online payroll, and entity formation services.

FinancePal also partners with several leading business solutions in many categories, such as ADP, Bill.com, Hubdoc, Quickbooks, T Sheets, Xero, and more. Thanks to these integrations, you can streamline a good chunk of your accounting, time tracking, and similar work.

Features
  • Payment Processing
  • Payroll Processing
  • Project Management
  • Time tracking
  • Third-party Integrations
Supported Devices
Features
  • Windows
  • Android
  • Linux
  • iPhone/iPad
  • Mac
  • Web-based
Pricing Model
Features
  • Monthly Payment
  • One-Time Payment
  • Annual Subscription
Ease of Use

FinancePal customers (current and former) have stated in reviews that FinancePal walks you through their onboarding process step-by-step in a hands-on fashion. Additionally, the firm’s customer service is strong. All account managers are well-versed in accounting and show genuine care for keeping your books and improving your company.

Customer Support

FinancePal pairs each of its clients with a professional, providing unparalleled customer service. As you work with your FinancePal professional, they learn your business’s ins and outs, allowing them to provide ever-better work.

Phone Support
Phone Support
Available 8 am - 8 pm EST during the week
Live Online Chat
Live Online Chat
FinancePal has a live chat pop-up box on its site
Email
Email
FinancePal can be reached by email at info@financepal.com
FAQ
FAQ
Each of FinancePal’s service pages has FAQs unique to that page
Final Word

FinancePal’s combination of an easy-to-use platform and live bookkeepers offer small businesses high-quality bookkeeping with a personal touch. It has plenty of experts on staff with a genuine dedication to helping you with the bookkeeping side of your business. Along with the main offering, FinancePal’s integrations and add-on services make it easy to customize to your business. If you’d like the efficiencies of software but the personal attention of a live professional, FinancePal might be the way to go.

Bradley Schnitzer
Author: Bradley Schnitzer
Bradley Schnitzer helps businesses gain loyal customers through informative content pieces and persuasive copy. He is passionate about personal finance and helping budding freelancers further their careers.