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.

This serves as the foundation for all content, demonstrating a clear dedication to providing valuable and reliable information. Our team leverages its expertise and extensive research capabilities to identify and address the specific questions our audience has—and this ensures that our content is rooted in knowledge and accuracy. For a small business that needs help with bookkeeping and expense entry, QuickBooks Live Bookkeeping is a great resource to get the work done for a low monthly fee. Should an error be found, QuickBooks will reopen the books for that month and fix the error with no extra charge. Pricing simple rent receipt template in excel is based on the average of your monthly expenses over a three-month period.

What’s included and not included with the service?

There is a cleanup fee to get started and get your books in order, and then pricing drops to the monthly fee of $200 to $400. Read our comprehensive QuickBooks Live Bookkeeping review to decide if this popular managed service is right for your business. Throughout your engagement with QuickBooks Live Bookkeeping, your bookkeeper will manage your books for you and provide you with month-end reports. They will also help you with ongoing, basic bookkeeping and QuickBooks questions, like how to use QuickBooks’ reporting features, assistance with bank connections, and setting up customers and vendors. Your QuickBooks Live Bookkeeper will not send invoices, pay bills, manage your inventory, or provide tax or financial advisory services.

QuickBooks Live and Ignite Spot Accounting are two competitively priced services, where Decimal is substantially higher in cost for the same services. One thing that we found that separated QuickBooks Live from the competition was its accuracy guarantee. Some businesses will appreciate this guarantee that the service stands behind its work. If you haven’t worked with a bookkeeper before, it may take you some time to learn how to utilize the QuickBooks Live service best. While maintaining the records is relatively straightforward, getting valuable reporting pertinent to your business may take some time working with your dedicated bookkeeper. While reports are easy to run, you may find that you need some reports and not others to best get a pulse on your business’s finances.

Best Online Bookkeeping Services in 2024

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 Live, Decimal and Ignite Spot Accounting are three competitors that offer subscription bookkeeping services.

1. QuickBooks Live Bookkeeping offers online bookkeeping services that connect small businesses with trusted, QuickBooks-certified virtual bookkeepers.
2. You can cancel your QuickBooks Live plan or upgrade from Live Expert Assisted to Live Expert Full-Service Bookkeeping at anytime.
3. QuickBooks Live provides you with live one-on-one support from QuickBooks-certified bookkeepers who will ensure organized, up-to-date financials.

For more information about Expert Assisted, refer to the QuickBooks Terms of Service. At social security administration the end of each month, your bookkeeper will send you PDF copies of key financial reports, including your balance sheet and P&L statement. QuickBooks Online also has many special reports that you can generate, like a balance sheet and P&L statement by class or location.

QuickBooks Live Reviews From Users

If your monthly average is $0-10,000 per month, the monthly price for QuickBooks Live Expert Full-Service Bookkeeping is $300. Live bookkeepers aren’t responsible for errors resulting from incorrect information that you provide, or if you re-open the books by overriding closure after a Live Bookkeeper completes the month-end closure. We consider the opinions of users and the service’s ratings on various review sites. These criteria were disregarded for providers where no reviews were found.

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).

All three boast a dedicated team to ensure that your bookkeeper learns about your business and what makes it tick. QuickBooks Live Bookkeeping is real-time, live the direct write off method bookkeeping support from a QuickBooks-certified bookkeeper (also known as a QuickBooks ProAdvisor). The value of QuickBooks Live Bookkeeping setup depends on your specific needs and circumstances.