QuickBooks Live Bookkeeping is a relatively new service offered by Intuit, the maker of QuickBooks accounting software. This service provides small business owners with access to a team of certified bookkeepers who can help them manage their finances and keep their books up-to-date.
With QuickBooks Live Bookkeeping, businesses can get real-time insights into their financial performance, which can help them make better decisions and grow more quickly. This article will explore what QuickBooks Live Bookkeeping is, how it works, and its key features and benefits. We’ll also discuss how it differs from traditional bookkeeping services and whether it’s right for you or your business.
Additionally, we’ll look at the key services offered by QuickBooks Live Bookkeeping, pricing, and subscription plans, as well as the benefits of using this service over other options available in the market.
By the end of this article, you should have a good understanding of what QuickBooks Live Bookkeeping is all about and whether it’s worth considering for your business needs.
Key Takeaways
- •QuickBooks Live Bookkeeping is a service offered by Intuit for small business owners to manage their finances and keep their books up-to-date with the help of certified bookkeepers.
- • It provides real-time insights into financial performance and personalized insights with customized dashboards, as well as affordable and flexible pricing options.
- • QuickBooks Live Bookkeeping is suitable for small businesses and is a streamlined and efficient alternative to traditional bookkeeping practices, with trained professionals and real-time support.
- • It can save time and money by automating many bookkeeping tasks, freeing up business owners to focus on growing their businesses, and ensuring accuracy in financial reporting and compliance with regulations.
What is QuickBooks Live Bookkeeping?
QuickBooks Live Bookkeeping is a service offered by Intuit that provides small businesses with access to professional bookkeepers who can assist with financial record-keeping and tax preparation.
This service is aimed at small business owners who do not have the time or expertise to manage their company’s finances themselves.
QuickBooks Live Bookkeeping offers a range of services, including bookkeeping setup, categorization of transactions, reconciliations, monthly reporting, and year-end closing assistance.
With QuickBooks Live Bookkeeping, businesses can connect with a dedicated online bookkeeper through QBO live bookkeeping or Quickbooks online bookkeeper near me for real-time collaboration and support.
As for QuickBooks live pricing, it varies depending on the level of service required by the business owner.
In the next section about ‘pricing and subscription plans’, we will explore the cost of these services based on monthly expenses rather than standard QuickBooks setup services cost.
Pricing and Subscription Plans
The pricing and subscription plans for QuickBooks Live Monthly Bookkeeping are based on a business’s average monthly expenses over three consecutive months.
QuickBooks Live is available to QuickBooks Online subscribers and is sold separately. After the initial 30-day period, the ongoing Live Bookkeeping service is available in three pricing tiers depending on the company’s average monthly expenses.
For businesses with a monthly average of $0-10,000, the monthly price for QuickBooks Live is $200; if it’s between $10,001-50,000 per month, the price is $300; and for those with an average of $50,001 or more per month, it’s priced at $400.
It’s important to note that these prices are subject to reassessment at Intuit’s sole discretion based on your business’s average monthly expenses. The cleanup fee required for Live Monthly Bookkeeping is customized based on signup month, tax filing status, and business start date.
Additionally, personalization setup with your bookkeeper ensures updated profit & loss and balance sheet reports alongside organized financials that close out easily during tax time.
A convenient virtual support system is also included in all packages for quick assistance as needed. Businesses looking for a QuickBooks online bookkeeper near me’ can opt-in to this service without requiring any additional certification beyond QuickBooks live bookkeeping one-time setup provided by Intuit themselves which makes getting started simple and hassle-free.
Features and Benefits
The features and benefits of QuickBooks Live Bookkeeping are designed to streamline financial management for small business owners. With a dedicated QuickBooks Live bookkeeper, users can have access to expert advice and assistance in real-time.
The QBO Live Bookkeeping service offers data entry, transaction categorization, bank reconciliation, and monthly financial reports. Additionally, the service provides personalized insights into a user’s business operations with customized dashboards that display key performance indicators (KPIs).
QuickBooks Live pricing is affordable and flexible with options that cater to different business needs. Reviews of the service indicate high satisfaction levels among users who appreciate its convenience, accuracy, and ease of use.
The next section will explore how this innovative solution differs from traditional bookkeeping practices.
How it differs from traditional bookkeeping
Compared to conventional bookkeeping practices, QuickBooks Live Bookkeeping offers a more streamlined and efficient way for small business owners to manage their finances with the help of a dedicated bookkeeper who provides real-time advice and assistance.
One major difference between QuickBooks Live Bookkeeping and traditional bookkeeping is the use of technology. QuickBooks Live utilizes cloud-based software that allows for easy access to financial information from anywhere at any time.
Additionally, QuickBooks Live Bookkeepers are trained professionals who have experience working with small businesses, which means they can offer tailored advice and support specific to each client’s needs. Another significant difference is the cost.
While hiring an in-house bookkeeper can be expensive, utilizing QuickBooks Live Bookkeeping services may be more affordable, with pricing packages starting as low as $200 per month.
Overall, it is clear that QuickBooks Live Bookkeeping offers several advantages over traditional bookkeeping methods and may be worth considering for small business owners looking to streamline their financial management processes.
Pros and Cons
| Pros | Cons |
| Real-time advice and assistance from a dedicated bookkeeper | May not be suitable for larger businesses or those with complex financial needs |
| Cloud-based software allows for easy access to financial information | Can take time to set up and implement correctly |
| Tailored advice and support specific to each client’s needs | Cost may still be prohibitive for some small businesses |
| Affordable pricing packages starting at $200 per month | Limited customization options compared to in-house bookkeeping solutions |
| Professional training and experience working with small businesses | Potential issues with data security if not handled properly |
Is QuickBooks Live Bookkeeping Right for You or Your Business?
Determining the suitability of QuickBooks Live Bookkeeping for your business requires careful consideration of its advantages and disadvantages.
One advantage is that it offers real-time bookkeeping support, with a dedicated online bookkeeper available to answer questions and provide guidance.
Additionally, it can save time and money by automating many bookkeeping tasks. However, there are also potential drawbacks such as the cost of the service and the need for reliable internet connectivity.
It’s important to assess your business needs, budget, and resources before deciding if QuickBooks Live Bookkeeping is right for you.
In situations where you need immediate assistance or prefer in-person communication, a local QuickBooks online bookkeeper near me may be more suitable.
Ultimately, choosing between traditional bookkeeping methods or QuickBooks Live Bookkeeping will depend on your unique circumstances and goals.
Key Services Offered by QuickBooks Live Bookkeeping
The key services provided by QuickBooks Live Bookkeeping are designed to assist businesses in maintaining accurate and organized financial records, providing ongoing support for bookkeeping practices, and optimizing their accounting processes.
Services include:
- Chart of accounts setup
- Assistance with connecting credit card and bank accounts
- Importing historical data
- Transaction maintenance
- Month-end review
- Financial reports to guarantee the accuracy of your financial records.
While not offering invoicing or bill payment services, QuickBooks Live Bookkeeping is a top choice for small business accounting software that integrates perfectly with QuickBooks Online and other QuickBooks products.
With access to certified bookkeepers who provide live one-on-one assistance through the subscription service to QuickBooks Online, businesses can ensure their bookkeeping practices are up-to-date and efficient.
The mobile app does not currently offer access to QuickBooks Live features.
Benefits of QuickBooks Live Bookkeeping
QuickBooks Live Bookkeeping provides numerous benefits to businesses seeking efficient and accurate bookkeeping services.
With expert bookkeepers available on demand, companies can save time and focus on their core business activities while ensuring compliance with accounting regulations.
The service also delivers accuracy in financial reporting, reducing the risk of costly errors and increasing overall efficiency.
Time-saving and efficiency
By streamlining bookkeeping tasks and automating processes, QuickBooks Live Bookkeeping enables businesses to optimize their time and resources. With the help of an online bookkeeper through QuickBooks Live Bookkeeping, businesses can save countless hours on manual data entry, organizing receipts, and categorizing expenses.
This time-saving feature is especially beneficial for small business owners who often find themselves wearing multiple hats and juggling various responsibilities.
QuickBooks Live Bookkeeping also ensures efficiency by providing real-time access to financial data on any device with internet access. This means that business owners can stay up-to-date on their finances no matter where they are or what device they are using.
Additionally, the one-time setup process for QuickBooks Live Bookkeeping is simple and straightforward, making it easy for businesses to get started with this valuable tool.
By utilizing these time-saving features and efficient processes offered by QuickBooks Live Bookkeeping, businesses can focus on growth opportunities rather than tedious bookkeeping tasks.
Next, we will discuss how this service provides access to expert bookkeepers for personalized support and guidance.
Access to expert bookkeepers
In addition to the time-saving and efficiency benefits of QuickBooks Live Bookkeeping, another advantage is access to expert bookkeepers.
This service connects small business owners with certified QuickBooks Online bookkeepers who are available via phone or chat to answer questions and provide guidance on financial matters.
Instead of searching for a ‘QuickBooks bookkeeper near me,’ business owners can rely on this service for personalized support from knowledgeable professionals.
For those interested in pursuing a career in bookkeeping, there are also opportunities for QuickBooks Live Bookkeeping jobs.
The availability of expert support can help ensure that business finances are managed accurately and in compliance with regulations, which will be discussed further in the next section.
Accuracy and compliance
Achieving accuracy and compliance in financial management is crucial for small businesses to maintain their reputation and avoid legal issues.
QuickBooks Live Bookkeeping provides access to expert bookkeepers who are trained to ensure that your books are accurate and compliant with all relevant regulations.
Focus on core business activities
Focusing on core business activities is essential for small businesses to remain competitive in the market and achieve long-term success.
QuickBooks Live Bookkeeping offers a solution that allows small business owners to delegate their bookkeeping responsibilities to a team of certified online bookkeepers, freeing up time for them to focus on growing their businesses.
By outsourcing bookkeeping responsibilities, small business owners can concentrate on expanding their businesses while still managing their finances effectively.
This section concludes by highlighting how QuickBooks Live Bookkeeping positively impacts small businesses’ productivity and efficiency levels overall.
Why QuickBooks Live Bookkeeping
Ultimately, QuickBooks Live Bookkeeping offers a comprehensive and efficient solution for small businesses seeking professional bookkeeping services. With the convenience of having a certified QuickBooks Online bookkeeper, business owners can focus on their core activities while leaving the accounting to the experts.
Additionally, with QuickBooks Live Bookkeeping’s 100% virtual platform, businesses have access to bookkeeping training and tutorials online, further empowering them to take control of their finances. Whether it’s managing expenses or reconciling accounts, QuickBooks Live Bookkeeping handles everything in real-time, providing business owners with accurate financials that they can trust.
By eliminating the stress of managing financials on their own, QuickBooks Live Bookkeeping allows business owners to enjoy greater freedom and peace of mind when making important decisions about their company’s future.
Conclusion
In conclusion, QuickBooks Live Bookkeeping is a modern solution that simplifies accounting tasks and provides real-time insights into a business’s finances. With its cloud-based technology and team of certified professionals, it offers convenience and accuracy at an affordable price point.
If you’re a small business owner, QuickBooks Live Bookkeeping could be the right choice for you. It’s especially beneficial if you have limited experience with accounting or are looking to save time managing your finances. The key services offered by QuickBooks Live include bank reconciliation, bill payment, expense categorization, and financial reporting.
Whether you’re just starting out or looking to streamline your accounting processes, QuickBooks Live Bookkeeping may be the perfect fit for your business needs.
