Merritt Bookkeeping Review – 8 Reasons Maxim Liberty is Better
Merritt Bookkeeping Review: A Comprehensive Comparison with Maxim Liberty
Merritt Bookkeeping offers flat-rate bookkeeping services designed to simplify financial management for small business owners. In this blog, we provide an objective review of Merritt Bookkeeping, compare it with Maxim Liberty, and outline the key differences to help you make an informed decision.
Table of Contents
- Introduction to Merritt Bookkeeping
- Key Features of Merritt Bookkeeping
- Pricing Breakdown
- Catchup Charges: A Closer Look
- Merritt vs. Maxim Liberty: Detailed Comparison
- Conclusion
Introduction to Merritt Bookkeeping
Merritt Bookkeeping is known for its fixed pricing model, offering basic bookkeeping services for $250 per month. While this simplicity appeals to many small businesses, additional aspects of the service may influence its overall value.
Key Features of Merritt Bookkeeping
- Flat rate of $250 per month.
- Quickbooks Online only.
- No daily update plans available.
- Annual contracts required.
Pricing Breakdown
Merritt Bookkeeping’s flat rate of $250 per month covers standard bookkeeping tasks. However, additional charges for businesses requiring catchup services or other non-standard features may apply.
Catchup Charges: A Closer Look
For businesses needing catchup bookkeeping, Merritt Bookkeeping charges $200 per month for past periods. For example, catchup for one year can cost $2,400.
In comparison, Maxim Liberty offers a $12-per-hour rate for catchup bookkeeping. For businesses with 1,000 transactions over 12 months, the total cost would be around $250, presenting a cost-effective alternative.
Merritt vs. Maxim Liberty: Detailed Comparison
| Factors | Merritt Bookkeeping | Maxim Liberty | Advantage |
|---|---|---|---|
| BBB Accreditation | No | A+ | Highest BBB rating |
| Software | QuickBooks Online | Any, best of breed | Flexible software options |
| Industry Specific Bookkeeping Service | No | Yes | QuickBooks for Construction, Sage CRE, Buildium for Property Management, AppFolio for Property Management, etc. |
| Customer Reviews | Not rated by BBB Varies by source | BBB (5.0), Trustindex (5.0) | All 5-star reviews |
| Catchup Charges | $200/mo (e.g., $2,400/year for 1000 transactions) | $12/hour (e.g., $250/year for 1000 transactions) | 90% Savings |
| Bookkeeping Services Pricing | $250/mo | $60/mo (up to 5 hours) | 76% Savings |
| Daily Updates | No | Yes, $240/mo | Daily updates with AP, AR, and payroll |
| Special Plan for CPAs | No | Yes, $270/mo | Single plan to support multiple clients |
| Tax Services | No | Yes | Single source for bookkeeping and taxes |
| Money Back Guarantee | Yes, 90 days | Yes, 90 to 360 days | 100% Money Back Guarantee |
Conclusion
Merritt Bookkeeping provides an accessible solution for small businesses seeking straightforward bookkeeping services at a flat rate. However, additional charges for catchup bookkeeping and the lack of flexibility in software options may affect its suitability for some businesses.
Maxim Liberty offers customizable services with transparent hourly pricing, daily updates, and a money-back guarantee. These features may appeal to businesses that prioritize flexibility and cost control. Ultimately, the choice depends on your business’s specific needs.
