You’ll meet with your bookkeeper via one-way video chat, which can be accessed by sharing your screen. During these meetings, you’ll have the opportunity to ask questions about financial reports and request assistance with basic bookkeeping tasks. You can also reach out to the extended bookkeeping team at any time. QuickBooks Online offers four pricing plans that start at $35/month and cost up to $235/month, depending on the number of features and users your business needs.
You’ll need to provide QuickBooks with a receipt for the transaction in question, correspondence from your outside tax accountant, or a document stating the balance of the account if an account balance is in question. With QuickBooks Live Expert Full-Service Bookkeeping, a dedicated bookkeeper will get to know your business, bring your past books up to memo entry definition date, and do your book for you, start to finish. You should be able to access a dedicated bookkeeper for any questions or advice and one-on-one assistance.
- QuickBooks Solopreneur (formerly known as QuickBooks Self-Employed) costs $20/month or $120 for the first year.
- QuickBooks Live Bookkeeping offers online bookkeeping services that connect small businesses with trusted, QuickBooks-certified virtual bookkeepers.
- If your monthly average is $50,001 or more, the monthly price for QuickBooks Live Expert Full-Service Bookkeeping is $700.
- We’ve got you covered with a breakdown of the four QuickBooks Online (QBO) plans.
- These criteria were disregarded for providers where no reviews were found.
How much time can you spend with your QuickBooks Live bookkeeper each month?
In some cases, your cleanup may take longer depending on timeliness of documentation and the complexity of your books. During your first appointment, your bookkeeper gives you a quick tour of QuickBooks Live Bookkeeping and helps you set up your chart of accounts, connect your banks, and upload your documents. Once they have all the required information, they’ll start cleanup, which include categorizing transactions and reconciling accounts. Cleanup takes about 30 days from the time they receive everything they need from you.
For example, you should be running aging reports so you can see which customers are past due on payments. But there are some more complex reports, like Balance Sheet and Statement of Cash Flows, that QuickBooks Online Plus can generate, but which you might have a hard time understanding. These reports provide a broader overview of your company’s financial status. Your bookkeepers will explain what they mean at the end of each month and send you PDF copies of reports like your Profit and Loss statement. QuickBooks Live pairs you with experienced bookkeepers who can reconcile your accounts, close your books, and provide advanced reports. Thanks to its excellent administrative tools and procedures, and an exceptional user experience, you always know where your accounts stand.
QuickBooks Live Bookkeeping is real-time, live bookkeeping support from a QuickBooks-certified bookkeeper (also known as a QuickBooks ProAdvisor). QuickBooks Live’s pricing is based on the company’s average monthly expenses and ranges from $300 to $700 a month after the initial month of service. The cost for the initial month will include an additional charge for onboarding and cleanup, but the exact amount is custom-priced for each customer. A Live bookkeeper cannot begin cleaning up your past books until they receive the required supporting documentation, which your bookkeeper will request from you after your first meeting. Once your bookkeeper receives all the necessary documentation, they’ll typically complete your cleanup within 30 days.
QuickBooks Live Bookkeeping Review & Pricing in 2024
If you have historical records for your business, we’ll review your books during your first appointment to see if you’re eligible. You’ll also see a step-by-step task list maintained by your bookkeeper, which shows the tasks that have been completed. In addition, we employ a comprehensive editorial process that involves expert writers. This process ensures that articles are well-researched and organized, offering in-depth insights and recommendations.
QuickBooks Live Pricing Plans
Sometimes you enter data in fields, such as Customer Addresses and Phone Numbers. Other times, you click buttons or select options from drop-down lists. When you need to enter a transaction like an invoice or estimate or expense or bill, you complete online forms that resemble their real-life counterparts.
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You’ll also need to give them descriptions of any established capitalization or accounting policies for your business. If the cost of QuickBooks Live is an issue for you, you might consider Wave Accounting software with the Wave Advisor service add-on as a more cost-effective alternative. Wave Accounting is one of the very few business accounting software providers on the market that’s completely free. QuickBooks Live Bookkeeping can be more cost-effective than hiring an in-house bookkeeper or outsourcing your bookkeeping to an accounting or bookkeeping firm. There are no long-term contracts, so you can switch or cancel your service at any time without incurring fees. And, QuickBooks Live Bookkeeping comes with an “Accurate Books Guarantee” to cover any errors made by your Live Bookkeeper (some exceptions apply).
Founders share the time saved and money made with clever use of artificial intelligence. For businesses aiming to scale, especially in industries like tech, hiring for fractional CFO services can be the key to unlocking real, measurable results. If you’re looking for a flexible stay-at-home job, part time or full time, you can become a remote (virtual or online) bookkeeper with little to no experience or degree. In sum, QuickBooks Live is a simple and very budget friendly service, and that is reflected by its variable quality.