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. Online bookkeeping services can also be more cost-effective than traditional bookkeeping methods. They eliminate the need for businesses to invest in expensive accounting software or hire in-house accountants, since all the necessary tools and expertise are available online. This can be particularly beneficial for small businesses and startups with limited budgets.
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Some companies on our list specialize in startups, with strategic cash-burn analysis, Series A-C funding guidance, and tax strategies to boot. Other companies offer attractive budget bookkeeping support, but little in the way of CFO guidance, while yet others cater to businesses that utilize a wide-variety of payment and payroll software integrations. But if you’re a larger business and you process a lot of transactions and need your financial books to be as clean and organized and comprehensive as possible, QuickBooks Live may make sense for you.
QuickBooks Online Pricing Plans
Certainly, if you’re planning to get a loan or take on investors or make other major business changes sometime in the future, you need a pristine accounting file. At the end of each month, your bookkeepers review and close your books. QuickBooks Online Plus has this capability built in, but it’s not required, so many businesses don’t do it. After reviewing all of the month’s transactions and fixing anything that needs fixing, your bookkeepers set a closing date and lock everything that was entered before then. This helps prevent accidental changes that could impede accurate reporting. Your bookkeepers tell you before they close out a month so you can enter any transactions that tlm support 2021 might be missing.
- Everything in your accounts gets touched by your bookkeepers, so nothing falls through the cracks—as long as you’re keeping up with your transactions.
- For example, you should be running aging reports so you can see which customers are past due on payments.
- Categorizing transactions records each transaction under the right account so you have clear records of how much the business made and where the money went.
- Once your contact learns enough about your business, he or she will set up QuickBooks Online Plus to meet your needs and explain how the process works.
- You can also assign sales taxes to transactions, run reports, and process payroll (additional cost).
With the new QuickBooks Live Tax, you can choose whether to do your taxes with expert assistance or have experts do them for you. This service only provides income tax return filing and unlimited tax advice. QuickBooks’ score could’ve been higher in this criterion if it offered sales tax return filing and CFO services. At 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.
But Intuit’s prices for QuickBooks Live are reasonable considering the work involved and the support provided. And it makes some sense to deal with the company directly for this critical work. It’s a good deal for companies that need it, and it’s a clear Editors’ Choice winner.
Check For A QuickBooks Online + Payroll Bundle Discount
Unlike other similarly priced services on our list, QuickBooks Live doesn’t actively try to scam you. In short, if budget is first and foremost for you, then we think QuickBooks Live should be one of your top picks, as long as you’re prepared for the potential headaches it may bring. QuickBooks Plus is so popular that many accountants in private practice support it. It’s possible some of them may charge a little less than what Intuit is charging.
Because of its versatility, it’s our best small business accounting software. QuickBooks Live is an assisted bookkeeping service that enables QuickBooks Online users to enlist a qualified bookkeeping professional to categorize expenses, reconcile accounts, and provide advanced reports. Upon enrollment, you’ll be assigned a dedicated bookkeeper who’ll collaborate with you virtually. The answer to that question is going to depend on your specific needs. Online bookkeeping companies will often specialize in services for a particular type of company.
