Bookkeeping Online: Virtual Services for Your Finances

QuickBooks Live Bookkeeping is a subscription service that gives a business a certified bookkeeper to help manage the company books. There is a $500 cleanup fee to get started, which pays to get your books up to date, and then you pay $200 to $400 per month for the service. 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 your bookkeeper receives all the necessary documentation, they’ll typically complete your cleanup within 30 days. In some cases, your cleanup may take longer depending on timeliness of documentation and the complexity of your books. If you’re already using QuickBooks as your accounting program, using the bookkeeping services is a natural transition for extra support. It’s a cost-effective way to get the bookkeeping that will make tax time easier and help keep you from audit issues. It also puts the reports you want at your fingertips, so instead of using your time to enter data, you can spend your time thinking about how to grow your business based on real data.

You’ll still need to manage tasks for your business like sending invoices, paying bills, and managing inventory, accounts receivable, and accounts payable. You can cancel your QuickBooks Live plan or upgrade from Live Expert Assisted to Live Expert Full-Service Bookkeeping at anytime. To downgrade from Expert Full-Service Bookkeeping, you may need to wait until the end of your current subscription billing period.

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Other customers wished it was possible to call someone directly rather than wait for a response or set up a meeting. This may influence which products we review and write about (and where those products appear on the site), but it in no way affects our recommendations or advice, which are grounded in thousands of hours of research. Our partners cannot pay us to guarantee favorable reviews of their products or services. Your bookkeeper can run detailed reports that give you a clear view of your business, so you have the info you need to make informed decisions and feel confident at tax time. Next, your bookkeeper will take on the monthly management of your books.

Established businesses will start their engagement with QuickBooks Live Bookkeeping’s cleanup services. This step ensures your books are accurate and up to date when your ongoing monthly bookkeeping service commences. You can also meet with them to review reports and receive assistance with any bookkeeping questions. QuickBooks Live Bookkeeping is a comprehensive bookkeeping service that businesses can contract with to maintain their books, properly categorize expenses and perform reporting. With the subscription, the small business is connected with a dedicated bookkeeper who is available to work on the account virtually.

1. The best online bookkeeping service should offer a wide range of bookkeeping solutions, including catch-up bookkeeping, invoicing, bill pay, bank reconciliation, payroll, and tax filing.
2. Most users meet virtually with their bookkeeper once or twice per month.
3. Pricing is based on the average of your monthly expenses over a three-month period.
4. You’ll meet with your bookkeeper via one-way video chat, which can be accessed by sharing your screen.

Thousands of businesses use QuickBooks Live1

And keep in mind this service won’t make tax filings on your behalf, so you’ll have to handle that separately. After the first month, Full-Service Bookkeeping is available in three different pricing tiers, depending on your company’s average monthly expenses over three consecutive months. If you work with a popular subscription service such as QuickBooks Live Bookkeeping, you can pay as little as $200 per month for bookkeeping. Other services may scf definition and meaning cost as much as $2,500 per month, depending on the complexity of your business’s books.

Who can use the service?

Connect with experts year-round for advice and guidance, with best-in-class tools to support you as your business grows. Find help articles, video tutorials, and connect with other businesses in our online community. You’ll also see a rolling forecast best practices: a guide for fp&a professionals step-by-step task list maintained by your bookkeeper, which shows the tasks that have been completed. The team of QuickBooks Live Bookkeepers includes professionals from many industries.

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 business filing system 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).

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. QuickBooks Live Bookkeeping offers online bookkeeping services that connect small businesses with trusted, QuickBooks-certified virtual bookkeepers. Depending on the service you choose, a bookkeeper can give you guidance or take the lead on your bookkeeping. With the service, you get a dedicated bookkeeper who will categorize expenses, reconcile accounts and close your books at the end of the month so that you know where your business stands financially at any given moment.