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 cost of debt favorable reviews of their products or services. Each month, your bookkeeper categorizes your transactions and reconciles your accounts. 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. 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.

1. If your monthly average is $10,001-50,000, the monthly price for QuickBooks Live Expert Full-Service Bookkeeping is $500.
2. You can cancel your QuickBooks Live plan or upgrade from Live Expert Assisted to Live Expert Full-Service Bookkeeping at anytime.
3. We consider the opinions of users and the service’s ratings on various review sites.
4. QuickBooks Live Bookkeeping offers online bookkeeping services that connect small businesses with trusted, QuickBooks-certified virtual bookkeepers.
5. QuickBooks Online offers Expert Full Service Payroll for an additional cost.

In some cases, your cleanup may take longer depending on timeliness of documentation and the complexity of your books. 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. Because of its versatility, it’s our best small business accounting software.

However, if you are comfortable setting up and maintaining your QuickBooks account on your own, then the additional cost may not be worth it. QuickBooks Live’s pricing is based on the company’s average monthly expenses and ranges from $300 to $700 a month after the initial month of service. The cost for the initial month will include an additional charge for onboarding and cleanup, but the exact amount is custom-priced for each customer. The best online bookkeeping service should offer a wide range of bookkeeping solutions, including catch-up bookkeeping, invoicing, bill pay, bank reconciliation, payroll, and tax filing. You’ll meet with your bookkeeper via one-way video chat, which can be accessed by sharing your screen. During cost estimation methods these meetings, you’ll have the opportunity to ask questions about financial reports and request assistance with basic bookkeeping tasks.

How do I subscribe or unsubscribe from QuickBooks Live Bookkeeping?

Although QuickBooks Live Bookkeeping offers “full-service” bookkeeping, some tasks often fall to in-house or outsourced bookkeepers that aren’t direct labor efficiency variance calculator included in the service. And keep in mind this service won’t make tax filings on your behalf, so you’ll have to handle that separately. Most businesses meet with their bookkeeper on a live call once a month. These monthly meetings are a great time to get a status update on your books and go over key financial statements. After the first month, Full-Service Bookkeeping is available in three different pricing tiers, depending on your company’s average monthly expenses over three consecutive months.

Your QuickBooks Live Bookkeeper will not send invoices, pay bills, manage your inventory, or provide tax or financial advisory services. 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. 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. Live Expert Full-Service Bookkeeping doesn’t include sending invoices, paying bills, or management of inventory, accounts receivable, or accounts payable.

QuickBooks Live Bookkeeping Review 2024

Pricing for the Full-Service Bookkeeping varies from $300 to $700 per month after a custom cleanup fee is charged for the first month. Our detailed QuickBooks Live Bookkeeping review and evaluation aim to help you determine if this is the best service for your business. 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. After 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. Each month, your bookkeeper will request information about your bank accounts, transaction details, and financial records like account statements.

What is a QuickBooks live bookkeeper?

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. 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. Pricing is based on the average of your monthly expenses over a three-month period. We believe everyone should be able to make financial decisions with confidence. 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.

Alternatives to QuickBooks Live Bookkeeping

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. For more information about Expert Assisted, refer to the QuickBooks Terms of Service. 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.