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September 28, 2022 9:04 AM
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This assisted bookkeeping service allows QuickBooks users to hire a qualified professional to help them categorize expenses, reconcile their accounts and prepare advanced reports. Based on your monthly average expenses, pricing starts at $500 and goes up to $400 each month.

What We Recommend QuickBooksLive For

QuickBooks Live is the best-rated online bookkeeping solution for businesses using QuickBooks Online. This is a great choice for small- to medium-sized businesses (SMBs), that doesn’t have an internal bookkeeper. QuickBooks Live will not only give you peace of mind but also save you time.

QuickBooks Live is Best for Who?

  • Live bookkeepers can help you with your daily bookkeeping tasks. The QuickBooks suite of products will help you to focus on the important tasks that will drive your business’ growth, regardless of whether you are inexperienced.
  • For new QuickBooks users: Get assistance in setting up and learning QuickBooks. This will allow you to complete your daily tasks quickly, then do your bookkeeping.
  • For those who want to make a personal connection, the dedicated bookkeeping team is a point of contact and will answer any questions promptly.

QuickBooks Live is not a good fit for you

  • FreshBooks for businesses: Bench accounting is the top choice for FreshBooks users for assisted bookkeeping. The bench also offers catch-up bookkeeping, which can be as far back as 10 years.
  • For businesses that need services beyond bookkeeping, or those using Xero, Bookkeeper360 can be an alternative. It integrates seamlessly with the Xero app. Bookkeeper360 offers services such as advisory services for the chief financial officer (CFO), payroll and human resources (HR), tax filing, and support in the back office. 
  • Local accountants are available for businesses: You can hire a local QuickBooks ProAdvisor who isn’t connected to QuickBooks.
  • For businesses looking for the best price on basic services, Merritt Bookkeeping offers a great option. This is for those who only require basic services but want a more affordable alternative.  There are no transaction limits. You can also get a discounted monthly charge for catch-up bookkeeping.

For more information on whether QuickBooks Live is right for you, read our article on the best web-based bookkeeping services.

QuickBooks Live Pros & Cons

Pros

  • Your own personal bookkeeper will be assigned to you, who will keep track of your business.
  • You will receive monthly reports which will give you a snapshot of the financial health of your company.
  • QuickBooks Online and other QuickBooks products can be seamlessly integrated with QuickBooks Live.
  • Tax preparation is simplified by accurate bookkeeping and categorization.
  • You can request a free audit at any time with the 100% Accurate Books Guarantee.

Cons

  • QuickBooks Live does not include accounting, invoicing, payment bills, inventory management, and accounts payable.
  • It does not include tax filing or payroll services.
  • You cannot get a free trial.
  • QuickBooks Online subscription is required to access QuickBooks Live. This adds an extra cost.

QuickBooks Live Features

QuickBooks Live includes features that will help you with your monthly bookkeeping. You can read the QuickBooks Live Bookkeeping Article to learn more.

  • Firstly, setting up customers and vendors: Your bookkeeper can help you create and personalize your vendor and customer lists.
  • QuickBooks Online offers assistance with reporting and tools. There are many financial reports that you can customize easily. A bookkeeper will be able to show you how to create these reports and provide analysis.
  • Setup a chart of accounts: To help with tax preparation, customize your chart of accounts.
  • Assistance in connecting bank and card accounts
  • Importing historical data: With the help of Live Bookkeeper, you can import transactions from the past.
  • Month-end closing: Your bookkeeper will close your books each month and prepare a trial balance to confirm their accuracy.
  • Your bookkeeper will continue to assist you with your bookkeeping. Moreover, you can also request help with bookkeeping and troubleshooting transactions.

Click on Live Buchkeeping to activate your QuickBooks Online account. Once you sign up, QuickBooks will ask you for information about your company and match you with a bookkeeper with expertise in that industry.

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