Bookkeeping Online: Virtual Services for Your Finances
Your QuickBooks Live Bookkeeper will not send invoices, pay bills, manage your inventory, or provide tax or financial advisory services. Unlike QuickBooks Live Bookkeeping, Bench also offers historical bookkeeping services beyond the last filed tax return as well as tax filing and advisory services. And if you need accounts receivable or accounts payable, Bench offers specialized bookkeeping for an additional fee.
After how to calculate interest expense the first month, pricing for QuickBooks Live Bookkeeping is based on your company’s average expenses in QuickBooks. Every three months, QuickBooks Live Bookkeeping automatically adjusts to the needs of your business by reevaluating your average expenses and pricing tier. Terms, conditions, pricing, special features, and service and support options subject to change without notice. As part of ongoing bookkeeping, your bookkeeper categorizes your transactions and reconciles your accounts each month. Live Bookkeeping Messaging connects you to a QuickBooks product expert.
- Cleanup takes about 30 days from the time they receive everything they need from you.
- This step ensures your books are accurate and up to date when your ongoing monthly bookkeeping service commences.
- Your QuickBooks Live Bookkeeper will not send invoices, pay bills, manage your inventory, or provide tax or financial advisory services.
- You’ll still need to manage tasks for your business like sending invoices, paying bills, and managing inventory, accounts receivable, and accounts payable.
You’ll also need to give them descriptions of any established capitalization or accounting policies for your business. In the cleanup/setup phase, your bookkeeper helps you set up your chart of accounts, connects your banks, and teaches you the basics of QuickBooks. If you have information in QuickBooks already, your bookkeeper will help clean it up in the first month of service. There’s no set amount of time you get per month with your bookkeeper, but you can only have one scheduled appointment at a time. If you have at least 2 months of data in QuickBooks, there’s a flat fee for cleanup and setup for the first month of service.
How much does QuickBooks Live Bookkeeping cost?
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. Use the QuickBooks Live Bookkeeping service to make sure your books are up-to-date, accurate, and ready for tax time. With QuickBooks Live Bookkeeping, you have access to a dedicated QuickBooks-certified bookkeeper who works with you to understand your business and supports you along with their team. They categorize transactions, reconcile accounts, and are available to meet with you to go over updated reports or answer any questions you have. Expert Assisted is a monthly subscription service that requires a QBO subscription and provides expert help to answer your questions related to the books that you maintain full ownership and control. An expert can guide you through QBO setup and answer questions based on the information you provide; some bookkeeping services may not be included and determined by the expert.
The service doesn’t include financial advisory services, tax advice, facilitating the filing of income or sales tax returns, creating or sending 1099s, or management of payroll. QuickBooks Online offers Expert Full Service Payroll for an additional cost. Live Expert Assisted doesn’t include cleanup of your books or a dedicated bookkeeper reconciling your accounts and maintaining your books for you. Live Expert Assisted also doesn’t include any financial advisory services, tax advice, facilitating the filing of income or sales tax returns, creating or sending 1099s, or management of payroll. 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.
Get expert guidance when you need it
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. Live Expert Full-Service Bookkeeping doesn’t include sending invoices, paying bills, or management of inventory, accounts receivable, or accounts payable.
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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. You are partnered with a dedicated bookkeeping team you can communicate with regularly, they do all your bookkeeping for you, and you are presented with tax-ready financial statements. If you have historical records for your business, we’ll review your books during your first appointment to see if you’re eligible. The team of QuickBooks Live Bookkeepers includes professionals from many industries. When you sign up for Live Bookkeeping, we match you to a bookkeeper with experience in your industry. Or let a tax expert powered by TurboTax do your taxes for you, start to finish.
You can contact your bookkeeper anytime to schedule a live video chat or to discuss questions or concerns about your bookkeeping. Ongoing dividends communication is available at any time via document sharing and live chat, either with your bookkeeper or a member of your bookkeeper’s team. 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. The team of Live bookkeepers includes professionals from almost all industries. During the onboarding process, we try to match you with a bookkeeper who has experience in your industry. If that isn’t possible, we try to make sure that a member of the bookkeeping team has the experience necessary to handle industry-specific questions that you do dividends reduce net income may have.