FinancePal offers completely custom pricing. Each feature is a-la-carte and they will work with you to build exactly the right package to fit your company’s needs. Most basic packages come with the core features of the service which include bookkeeping & accounting, regular financial statements, a monthly reconciliation service, and tax planning & consulting. It offers a free trial which you can use to get a feel for the product.

FinancePal – a division of CommunityTax – was founded in 2019 and draws on the extensive experience it established in the consumer tax markets. It’s a fully managed bookkeeping and accounting service that merges technology and real accounting professionals to meet the needs of small and medium businesses.

FinancePal has many of the features you’d expect in an accounting solution such as a general ledger, income and expense tracking, various financial reporting tools, inventory tracking, and more. It’s accessible online as well as through mobile apps for Android and iOS. As mentioned before, it goes above and beyond the standard features by utilizing CPAs to manage your books. Some of the services include:

Income Tax Preparation

The tax code is a labyrinth for many business owners and the IRS is only too happy to audit you if a mistake occurs. FinancePal works with you to keep accurate records throughout the year and advise on the best tax strategy for your specific situation. It specializes in all types of businesses such as S-corps, C-Corps, partnerships and more. The online portal ensures all your data is easily accessible and you’re able to follow up on the progress of your tax returns.

Sales & Use Tax

Sales tax and use tax are different from the standard income tax you pay. Use tax applies when you sell goods to customers in different states and each authority has its own guidelines and fees. Its team will work with you so you have a clear understanding of all your tax liability whether you’re doing business locally, nationally, or internationally. This is especially useful service businesses that are taxed in some areas but not others.

Payroll

FinancePal handles all your payroll needs from beginning to end. It’ll help you get set up, work with your payment schedule, make sure you’re withholding the proper amount of tax for the federal and state levels, and keep accurate reports for when you’re issuing W-2 and 1099 reports. If you choose it, FinancePal will fill your taxes and properly prepare forms 940 and 941.

According to many user reviews, FinancePal has a hands on onboarding process and helps you get everything set up. The software is straightforward and gives you the information you need to make decisions but it’s the service that sets FinancePal apart. The account managers are knowledgeable and patient enough to answer all of your questions. If you’ve used accounting software in the past then you should be familiar with many of the features and how they work.

Many of the aspects that would be considered an add-on with other products are part of FinancePal’s core offering. The platform connects with other major accounting tools and platforms where you may have your transactions stored like payment processors and bank accounts. It then pulls a lot of that data into a single system so you get a holistic view of your finances.

A few of the partners it works with include Gusto, Tsheets, Quickbooks, and more. Apart from integration partners, It does offer a few extras if you have a unique situation which includes:

Entity formation

FinancePal offers one-on-one consultations to its clients that leads them through the entire company formation process. Once you know the right kind of company to set up, they’ll take you by the hand and make sure you fill all the right paperwork, get the proper documentation, and even open a business bank account for your new company.

Recovery & Catch-up

If you’ve been struggling to stay on top of your bookkeeping in the past then FinancePal has an additional service that will make sure you’re up to date. In addition to getting your internal caught up, it’ll help you file taxes you may have missed and possibly prevent an audit by government agencies.