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. Upon enrollment, you’ll be assigned a dedicated bookkeeper who’ll collaborate with you virtually.
Pricing for the Full-Service Bookkeeping varies from $300 to $700 per month after a custom cleanup fee is charged for the first month. QuickBooks also offers expert-assisted bookkeeping for $50 a month. Our detailed QuickBooks Live Bookkeeping review and evaluation aim to help you determine if this is the best service for your business.
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Pros
- Assigns you your own bookkeeper
- Includes monthly financial reports
- Works seamlessly with QuickBooks Online and other QuickBooks products
- Simplifies tax preparation through accurate bookkeeping and categorization
- Offers a 100% Accurate Books Guarantee that lets you request a free audit of your bookkeeper’s work at any time
- Has a special expert-assisted bookkeeping plan wherein experts will help you as you do the bookkeeping yourself
Cons
- Lacks invoicing, bills payment, inventory management, A/R, and A/P
- Lacks payroll or tax filing services
- Has no accrual method of accounting
- Doesn't disclose the cost for the first month, which includes cleanup
- Requires a subscription to QuickBooks Online, which is an additional cost
Supported Bookkeeping Software | QuickBooks Online |
|---|---|
Expert Full-Service Bookkeeping Pricing | Custom price for the first month, including cleanup. In succeeding months, monthly pricing will be:
|
Expert Assisted Bookkeeping Pricing | $50 per month |
QuickBooks Live Tax (Powered by TurboTax) |
|
Additional Cost for QuickBooks Software | $35-$235 a month |
Free Trial | ✕ |
Assigned a Personal Bookkeeper | ✓ |
Bookkeeper Communications | Telephone, video meeting, and live chat |
Monthly Account Reconciliations & Financial Statements | ✓ |
Back-office Services Like Customer Invoicing & Bill Pay | ✕ |
Full-service Payroll Available | ✕ |
Tax & Consulting Services Available | Via TurboTax Live |
Average User Reviews | Praised for capable and responsive dedicated bookkeepers and affordable pricing; took a hit for limited services and inability to contact customer support directly |
- Existing QuickBooks users: If your QuickBooks account is a mess, QuickBooks Live bookkeepers will catch up and correct your books to ensure accuracy.
- New QuickBooks users: You can receive assistance with setting up and learning QuickBooks so that you can complete your daily tasks easily and then perform your ongoing day-to-day bookkeeping yourself.
- Those seeking a personal connection to their bookkeeper: The dedicated bookkeeping team provides a point of contact and will answer all questions in a timely manner.
- Users wanting to do their own bookkeeping, but need expert assistance: With the new Expert Assisted Bookkeeping plan, you can DIY your bookkeeping, but with on-demand assistance from a QuickBooks expert.
- Best Online Bookkeeping Services: Best for companies wanting assistance with QuickBooks Online
- Best Online Bookkeeping Services for Freelancers: Best for freelancers using QuickBooks Online
QuickBooks Live Alternatives & Comparison
Monthly Pricing | Catch-up Bookkeeping | Bank Reconciliation | Payroll Integration | Tax Filing | |
|---|---|---|---|---|---|
| From $300 | ✕ | ✓ | ✕ | ✕ |
 | From $399 | ✓ | ✓ | ✓ | ✓ |
 | From $299 | ✓ | ✓ | ✓ | ✓ |
 | $190 | ✓ | ✓ | ✕ | ✕ |
Best For | Learn More | |
|---|---|---|
| Businesses using Xero: Bookkeeper360 is an ideal option for Xero users because it provides a seamless integration within the Xero app, and it can be useful for startups and growing businesses. Unlike Bookkeeper360, which is compatible with QuickBooks and Xero, QuickBooks Live is compatible only with QuickBooks Online. | |
| Users looking for affordable tax and bookkeeping assistance: Bench offers more affordable bookkeeping and tax services, which you can get under one plan. With QuickBooks, you need to get two separate plans for Live Bookkeeping and Live Tax. | |
| Users on a budget needing basic services: We recommend Merritt Bookkeeping because, for only $190 monthly, you get bookkeeping services without transaction limits. It is less expensive than QuickBooks Live, which bases its prices on your company’s average monthly expenses. |
| Users Like | Users Dislike |
|---|---|
| Variety of customer support options, including one-way videoconferencing | No A/R or A/P services |
| Dedicated bookkeeper who can help with setup and troubleshooting errors | No access to tax help or financial advice |
| Affordable services | Can’t call customer support directly; must wait for a call-back |
Those who left a QuickBooks Live Bookkeeping review appreciate that their dedicated bookkeeper not only performs ongoing maintenance of their books but also helps them get set up and fix past errors. Also, reviewers said that they like the ability to speak with a live person with various communication preferences, including one-way video conferencing.
The service’s biggest drawback is its limited services and lack of access to financial advice. Other customers wished it was possible to call someone directly rather than wait for a response or set up a meeting.
QuickBooks Live earned the following average scores on these popular review sites:
The first month of service with QuickBooks Live is dedicated to onboarding and cleaning your books. It is custom-priced based on the amount of cleanup your books require.
Full-Service Bookkeeping
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. There’s no contract, and you can cancel at any time.
Low Volume | Medium Volume | High Volume | |
|---|---|---|---|
QuickBooks Online Subscription | $35 to $235 | $35 to $235 | $35 to $235 |
QuickBooks Live Monthly Cost | $300 | $500 | $700 |
Monthly Expense Cap | Up to $10,000 | $10,001-$50,000 | $50,001 and over |
Expert Assisted Bookkeeping
The Expert Assisted bookkeeping is priced at $50 per month. When you get this plan, a QuickBooks expert can provide guidance on the following:
- Automating the use of QuickBooks
- Categorizing transactions and reconciling accounts correctly
- Reviewing business reports
- Managing your tax tracking needs
In our evaluation, QuickBooks Live achieved outstanding scores in all but two areas. First, subscribers need to schedule a phone call with their bookkeeper; other providers like Bookkeeper360 allow subscribers to call their assigned bookkeeper directly. Second, QuickBooks Live doesn’t have a mobile app that allows users to communicate with their bookkeeper.
Activate QuickBooks Live within QuickBooks Online by clicking on Live Bookkeeping from the left navigation bar, as indicated below. After you sign up, you’ll provide QuickBooks with information about your business, and within a few minutes, you’ll be matched with a bookkeeper who has expertise in your industry. In addition to having a dedicated professional, you’ll have access to an extended bookkeeping team if you have any questions.
Activate QuickBooks Live From Your QuickBooks Online Dashboard
Upon enrollment, you’ll be given access to the QuickBooks Live Hub, which is your own secure space on the site that allows you to check on your bookkeeper’s progress and check their schedules to make an appointment for a video chat. You’ll also see a step-by-step task list maintained by your bookkeeper, which shows the tasks that have been completed.
Chatting with a QuickBooks Live Bookkeeper (Source: QuickBooks Live)
You’ll meet with your bookkeeper via one-way video chat, which can be accessed by sharing your screen. During these meetings, you’ll have the opportunity to ask questions about financial reports and request assistance with basic bookkeeping tasks. You can also reach out to the extended bookkeeping team at any time.
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. Access to the QuickBooks Live Hub is limited to your desktop or laptop computer.
For bookkeeping services, QuickBooks Live only performs monthly bank reconciliation and financial statement preparation. Its score in our rubric could’ve been higher if QuickBooks Live handled customer invoicing and supplier billing—even as an additional cost to subscribers. Moreover, it would also be great if QuickBooks could include full service payroll and customized services to customers.
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. Additional reports can be provided upon request. 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.
QuickBooks Live doesn’t provide payroll, invoicing, bill pay services, and tax and consulting services, such as chief financial officer (CFO) advisory. It also doesn’t have a mobile app. However, it contains features that can assist your monthly bookkeeping needs.
- Customers and vendors setup: Your bookkeeper will help you set up and customize your customer and vendor lists.
- Chart of accounts setup: QuickBooks Live integrates with QuickBooks Online, making it easy for you to manage your finances and get the insights you need to make informed business decisions. You can customize your chart of accounts to assist with tax preparation in the future.
- Assistance with reports and reporting tools: QuickBooks Online has a variety of financial reports that can be customized easily. Your bookkeeper can show you how to do this and provide an analysis of those reports.
- Assistance with connecting bank and credit card accounts: Once you connect your bank and credit card accounts, your transactions will be downloaded automatically as they become available, ensuring that you have the most accurate financial data. You’ll have a professional bookkeeper working on your books in real time, ensuring that they’re accurate and up to date.
- Ongoing assistance with bookkeeping practices: QuickBooks Live bookkeepers are experts in QuickBooks and can provide guidance on how to use the software to its full potential. As part of ongoing bookkeeping, your bookkeeper will categorize your transactions and reconcile your accounts. You can also troubleshoot transactions and request assistance with bookkeeping practices.
- Historical data import: Your QuickBooks Live bookkeeper can import any transactions that have occurred in the past.
- Month-end close: Each month, your bookkeeper will close your books and confirm that they’re accurate by preparing a trial balance.
With the new QuickBooks Live Tax, you can choose whether to do your taxes with expert assistance or have experts do them for you. This service only provides income tax return filing and unlimited tax advice. QuickBooks’ score could’ve been higher in this criterion if it offered sales tax return filing and CFO services.
- Live Assisted: You do your taxes with assistance from a TurboTax expert. Pricing runs from $89 to $219 plus an additional $59 or $69 per state.
- Live Full Service: TurboTax experts will do your taxes. Pricing starts at $129 plus $69 per state.
For S-corps, partnerships, LLCs, and sole proprietorships, pricing is as follows:
- Live Assisted Business: Unlimited expert help for all your tax questions starting at $739 plus $64 per state. This plan is limited to certain states
AK, AZ, CA, CO, FL, GA, IL, MI, MN, NC, NV, NY, OH, PA, SD, TX, UT, VA, WA, and WY
- If you don't see your state, pick Live Full-Service Business.
- Live Full-Service Business: You match with a dedicated TurboTax expert who will handle all your tax needs for $1,749 plus $64 per state. Applies to all states.
How We Evaluated QuickBooks Live
We evaluated QuickBooks Live based on tax and consulting services, personal bookkeeper, user reviews, bookkeeping services, and pricing.
35% of Overall Score
Because each plan depends on many factors, we looked at the value provided in terms of the time and potential money that you’re saving by using the service.
20% of Overall Score
You should be able to access a dedicated bookkeeper for any questions or advice and one-on-one assistance.
15% of Overall Score
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.
10% of Overall Score
We evaluated whether the online bookkeeping service offered tax and consulting, and the scope of those services.
20% of Overall Score
We consider the opinions of users and the service’s ratings on various review sites. These criteria were disregarded for providers where no reviews were found.
Frequently Asked Questions (FAQs)
You’re responsible for providing the account information to link bank accounts to QuickBooks Online, as well as any unlinked bank accounts that need to be managed, transaction details for clarification upon request, and account statements.
QuickBooks Live Bookkeepers are required to have at least one of the following credentials:
- Active certified public accountant (CPA)
- Active certified public bookkeeper
- Bachelor’s degree in accounting or finance
- Expertise in accounting, finance, or bookkeeping
- Active QuickBooks Online ProAdvisor certification
- Minimum one year of experience working with QuickBooks Online
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.
Once you sign up for QuickBooks Live, you’ll be assigned a dedicated bookkeeper who will learn more about your business and help you connect your bank and credit card accounts and set up your chart of accounts, customers, and vendors. They’ll close your books monthly and send you reports for review. You can also meet with them to review reports and receive assistance with any bookkeeping questions.
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 value of QuickBooks Live Bookkeeping setup depends on your specific needs and circumstances. For instance, if you have limited accounting knowledge and want someone to handle the initial setup of your QuickBooks account and provide ongoing support, or if you have a busy schedule and prefer to have someone else manage your bookkeeping, then it may be worth considering. However, if you are comfortable setting up and maintaining your QuickBooks account on your own, then the additional cost may not be worth it.
Bottom Line
QuickBooks Live provides you with live one-on-one support from QuickBooks-certified bookkeepers who will ensure organized, up-to-date financials. These bookkeepers understand your industry and will collaborate with you to streamline your bookkeeping process.
Although you’ll need to handle many of the day-to-day bookkeeping tasks yourself, such as invoicing your customers and paying your bills, your QuickBooks Live bookkeeper will perform transaction maintenance, month-end review, and financial reports to ensure that your financial records are accurate.
