The Complete QuickBooks Online Pricing Guide 2023

quickbooks live bookkeeping cost

These bookkeepers understand your industry and will collaborate with you to streamline your bookkeeping process. Most users meet virtually with their bookkeeper once or twice per month. There’s no set amount of time each month that you can spend with your bookkeeper, but you can only schedule one appointment at a time. You can also chat live with a member of your bookkeeper’s extended team at any time. We evaluated whether the online bookkeeping service offered tax and consulting, and the scope of those services. While QuickBooks Online does have its own free mobile app—which allows you to enter transactions, record expenses, invoice customers, and send reports—the app cannot access QuickBooks Live features.

quickbooks live bookkeeping cost

QuickBooks Live and Bookkeeper360 both combine the automation of accounting software with the guidance of a professional online bookkeeper. Also, while both work with QuickBooks Online users, Bookkeeper360 also works with Xero. 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.

How do I subscribe or unsubscribe from QuickBooks Live Bookkeeping?

This is for new QuickBooks users, who may need help with setting up their chart of accounts, invoicing, connecting bank accounts, etc. With that said, QuickBooks Live is not quite the same as having an in-house bookkeeping team. For one, QB Live still requires the business to input how to calculate the employee retention credit data, upload receipts, etc. into the QuickBooks software. Essentially, the roles of a traditional bookkeeper are split between your own staff and your QuickBooks bookkeeper. This hybrid model costs much less than hiring an in-house bookkeeper, but it’s not quite as hands-off.

Pricing is nonetheless approachable for most firms, and QuickBooks Live is often more affordable than hiring independent professional bookkeepers. Keep in mind that QuickBooks Live is designed to work with QuickBooks Online and other QuickBooks software. You need to actively use QuickBooks, and QuickBooks Live pricing does not include a subscription to QuickBooks Online.

Pros and Cons of QuickBooks Live

You will have the chance to inquire about financial reports and request help with basic bookkeeping tasks during these meetings. Top-rated online bookkeeping service for businesses using QuickBooks Online is QuickBooks Live. For small to midsize businesses (SMBs) without an in-house bookkeeper, it’s a fantastic choice. QuickBooks Live can help you save time and money while also providing you with peace of mind. This service uses your existing QuickBooks Online accounting information to determine your eligibility for a loan.

  • This process ensures that articles are well-researched and organized, offering in-depth insights and recommendations.
  • There is no need to download QuickBooks Online because it is connected to the cloud, which means you can access online accounting from any device with an internet connection.
  • Keep in mind that Patriot Accounting doesn’t offer third-party integrations, so any inventory management solution you choose won’t be able to connect to your accounting system.
  • Customized quotes are also available based on the needs of your business.

Whether QuickBooks Online is a better deal than QuickBooks Desktop depends on the needs of your business. QuickBooks Online can be a more cost-efficient option for businesses with multiple users that don’t want to navigate the steep learning curve of QuickBooks Desktop. However, QuickBooks Desktop may be the better value for businesses that want a locally installed software option with enhanced accounting features. QuickBooks now offers a free small business checking account called QuickBooks Checking (formerly known as QuickBooks Cash). Opening a QuickBooks Checking account is free, with no monthly fees or account minimums.

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If you upgrade to the Premium plan, you can upload pictures of receipts that you’ve taken, but its mobile receipt capture isn’t that sophisticated. With QuickBooks Live, you can meet with your bookkeeper via one-way video chat, so you can see them but they can’t see you. Meanwhile, after you sign up for, you’ll be assigned a dedicated bookkeeper, and you’ll grant them access to your QuickBooks account.

quickbooks live bookkeeping cost

If you have any additional questions or need further clarification, you can reach out to the QuickBooks support team. They are available to assist you and provide the information you need to make an informed decision about using QuickBooks Live Bookkeeping for your business. A subscription to QuickBooks Live does not include a subscription to QuickBooks Online, which is necessary to use QuickBooks Live. QuickBooks Online costs anywhere from $12.50 to $150 per month, depending on the features you need and whether or not you pre-pay. One of the main benefits of QB Live is that it gives you accurate, up-to-date financial information, enabling you to make important business decisions with confidence. Monthly reports are prepared to give you an accurate snapshot of your firm’s financial picture.

Benefits of QuickBooks Live Bookkeeping

The answers to these questions should help you determine which plan is best for your business. Make sure you are on the right QuickBooks plan so you aren’t paying for features you don’t need. For example, if you bought the QuickBooks Plus plan because you thought you’d be using the Project Management feature and you haven’t used it in over a year, consider downgrading to the Essentials plan. This service gives you access to a QuickBooks debit card, cash flow forecasting, and QuickBooks Envelopes, which is a place to set aside savings.

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To optimize costs, businesses should clearly define their bookkeeping needs and choose a subscription plan that aligns with those requirements. Avoiding unnecessary add-ons and services can contribute to cost savings. These services are designed to streamline your bookkeeping processes, save you time, and ensure the accuracy and integrity of your financial records. Whether you are a solopreneur or a small business with a team, QuickBooks Live Bookkeeping can provide you with the support you need to stay on top of your finances. QuickBooks Live is an add-on to the QuickBooks platform, so it’s not a complete accounting solution on its own. And even with a QuickBooks Online subscription, most firms still choose to work with a Certified Public Accountant (CPA) or tax preparers to help prepare tax returns come tax time.

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