Running a business involves numerous challenges, and managing your finances is often at the top of the list. Accurate and timely bookkeeping is crucial for making informed business decisions, ensuring tax compliance, and maintaining overall financial health. This is where professional Bookkeeping Services become invaluable. QuickBooks Live Bookkeeping offers expert solutions designed to take the burden of bookkeeping off your shoulders, allowing you to focus on growing your business.
What is QuickBooks Live Bookkeeping Service?
QuickBooks Live Bookkeeping is a service provided by Intuit, the makers of QuickBooks, designed to offer businesses expert bookkeeping assistance. It connects you with qualified bookkeepers who provide ongoing support and manage your books directly within your QuickBooks Online account. This service aims to provide accuracy and peace of mind, ensuring your financial records are well-maintained and up-to-date.
QuickBooks Live Bookkeeping offers different service levels to cater to varying business needs. Whether you need basic guidance or full-service bookkeeping, there’s a plan designed to fit your requirements. The service leverages the power of QuickBooks Online, a leading accounting software, to deliver efficient and accessible bookkeeping solutions.
Key Benefits of Choosing a Bookkeeping Service Like QuickBooks Live
Selecting the right bookkeeping service can significantly impact your business. QuickBooks Live Bookkeeping stands out by offering several key advantages:
Accurate Books Guarantee
One of the most significant benefits of QuickBooks Live Bookkeeping is the Accurate Books Guarantee. This guarantee provides assurance that your books will be accurate. If a QuickBooks Live bookkeeper makes an error that necessitates reopening your books for any month, they will correct it at no additional charge.
This guarantee covers specific errors made by the Live Bookkeeper, such as:
- Incorrect Transaction Categorization: Ensuring transactions are properly classified into the correct accounts.
- Account Balance Discrepancies: Maintaining account balances in QuickBooks that match your actual bank and financial accounts.
- Unsupported Transactions: Avoiding improper transactions that lack proper documentation.
To utilize the guarantee, you’ll need to provide necessary documentation to QuickBooks to support your claim, such as receipts or account statements. This guarantee demonstrates the commitment of QuickBooks Live Bookkeeping to providing reliable and accurate bookkeeping services, giving business owners confidence in their financial data.
Tax Penalty Protection
For businesses utilizing QuickBooks Online Payroll Elite, QuickBooks Live Bookkeeping offers tax penalty protection. This is a crucial benefit, as payroll tax penalties can be costly and stressful. If you receive a payroll tax notice, and you provide it to QuickBooks within 15 days, they will cover the payroll tax penalty up to $25,000, subject to terms and conditions.
This protection provides a safety net against potential payroll tax errors, offering significant peace of mind, especially for businesses with complex payroll requirements. It’s important to note that certain conditions apply, and it does not cover situations where businesses are already in collections with the IRS.
Expert Assistance and Guided Setup
QuickBooks Live Bookkeeping services are delivered by live experts who are knowledgeable in bookkeeping practices and QuickBooks software. Users can access expert assistance to answer questions, guide them through QuickBooks Online setup, and provide ongoing support.
For new QuickBooks Online subscribers, QuickBooks Live offers a Guided Setup session. This one-time virtual session helps users configure their chart of accounts, customize invoices, set up bank connections, and understand key features of QuickBooks Online. This guided setup ensures businesses start on the right foot with their bookkeeping processes.
Comprehensive Bookkeeping Services
QuickBooks Live Bookkeeping offers a range of services to meet different needs. These include:
- QuickBooks Live Expert Assisted: Provides ongoing guidance and answers to your bookkeeping questions. Experts can assist with automation, categorization, financial reports, reconciliation, and workflow management.
- QuickBooks Live Expert Full-Service Bookkeeping: A comprehensive service that includes both initial cleanup of your books and ongoing monthly bookkeeping. This option is ideal for businesses that want complete bookkeeping management.
- QuickBooks Live Expert Cleanup: A one-time service to bring your books up-to-date, typically from your last tax filing date. This is often a prerequisite for ongoing monthly bookkeeping services.
These service options ensure businesses can choose the level of support that best suits their current needs and budget.
QuickBooks Live Bookkeeping Pricing and Service Tiers
QuickBooks Live Full-Service Bookkeeping Monthly Bookkeeping pricing is structured into tiers based on your business’s average monthly expenses. This ensures that pricing is aligned with the scale of your business operations. The pricing tiers are as follows:
- Monthly Expenses $0 – $10,000: Monthly price of $300.
- Monthly Expenses $10,001 – $50,000: Monthly price of $500.
- Monthly Expenses $50,001 or more: Monthly price of $700.
It’s important to note that these prices are for the ongoing monthly bookkeeping service and do not include the initial cleanup service, which has a customized fee. Pricing is subject to reassessment, with 30 days’ notice provided for any changes.
Key Features Included in QuickBooks Live Bookkeeping
QuickBooks Live Bookkeeping services encompass a wide array of features designed to streamline your financial management:
- Chart of Accounts Setup: Experts guide you in setting up a tailored chart of accounts for your business.
- Invoice Customization: Assistance with creating professional and customized invoices.
- Bank and Credit Card Connections: Help with securely connecting your financial accounts to QuickBooks Online.
- Transaction Categorization: Ensuring all transactions are accurately categorized for financial reporting.
- Bank Reconciliation: Regular reconciliation of bank and credit card accounts to maintain accuracy.
- Financial Reporting: Access to essential financial reports, including balance sheets and profit and loss statements.
- Expert Support: Ongoing access to live bookkeepers for questions and guidance.
- Receipt Capture: Utilize the QuickBooks Online mobile app to easily capture and manage receipts.
- Accountant Collaboration: Seamlessly collaborate with your accountant by granting them access to your QuickBooks Online account.
These features collectively provide a robust bookkeeping solution, covering essential aspects of financial management for businesses.
Getting Started with Expert Bookkeeping Services
If you’re looking to simplify your bookkeeping and ensure accuracy, QuickBooks Live Bookkeeping offers a compelling solution. Getting started is straightforward:
- Explore Service Options: Determine which QuickBooks Live Bookkeeping service level best fits your business needs – Expert Assisted or Full-Service Bookkeeping.
- Contact Sales: Reach out to QuickBooks sales to discuss your specific requirements and get a customized quote for cleanup services and ongoing monthly fees.
- Guided Setup: New QuickBooks Online subscribers can take advantage of the Guided Setup session to get their QuickBooks account properly configured.
- Connect with Your Bookkeeper: Once signed up, you’ll be connected with a dedicated live bookkeeper who will begin the process of cleaning up your books (if applicable) and providing ongoing support.
By choosing a professional bookkeeping service like QuickBooks Live Bookkeeping, you can regain valuable time, reduce financial stress, and ensure your business finances are in expert hands. Focus on growing your business, knowing that your bookkeeping is handled with accuracy and expertise.
