QuickBooks Live vs Bookkeeper.com: Review and Pricing
Tim is a Certified QuickBooks Time (formerly TSheets) Pro, QuickBooks ProAdvisor, and CPA with 25 years of experience. He brings his expertise to Fit Small Business’s accounting content.
Danielle is a writer for the Finance division of Fit Small Business. She has owned a bookkeeping and payroll service that specializes in small business, for over twenty years.
This article is part of a larger series on Accounting Software.
Virtual bookkeeping services combine the automation of accounting software with the guidance of a professional bookkeeper. By helping you maintain accurate financial records, they allow you to make important financial decisions for your business with confidence. We compared two of these services, QuickBooks Live and Bookkeeper.com, to assist you with evaluating which is the best fit for your business.
We have ranked QuickBooks Online consistently as the best small business accounting software, and in 2019, its parent company, Intuit, launched QuickBooks Live. Designed to assist QuickBooks users with finding a qualified bookkeeping professional to help with categorizing transactions, reconciling accounts, and generating financial reports, QuickBooks Live assigns you your own dedicated bookkeeper. Bookkeeper.com offers more services to QuickBooks Online users than QuickBooks Live, including payroll management, tax preparation, and business planning. When it comes to ease of use and scalability, Bookkeeper.com is difficult to beat.
When To Use QuickBooks Live
- Better for QuickBooks Online users who want assistance with setting up their QuickBooks account: Your QuickBooks Live bookkeeper will not only assist with setting up your chart of accounts, but they will also connect your bank and credit card accounts.
- Better for QuickBooks Online users who need a dedicated QuickBooks ProAdvisor to answer their questions: Your dedicated bookkeeper will reconcile your accounts and provide you with financial reports on a monthly basis. They’re also available to meet with you to review these reports and assist with account inquiries.
When To Use Bookkeeper.com
- Better for small business owners seeking an online bookkeeper who also offers a full line of accounting services: Bookkeeper.com’s additional services include payroll, tax preparation, bill pay, and financial planning.
- Better for small business owners seeking flexibility with the frequency of service: Bookkeeper.com’s service plans include the option of weekly, semimonthly, or monthly basis. This is in contrast to QuickBooks Live, which only offers a monthly option.
When To Choose a Different Online Bookkeeper
Because QuickBooks Live and Bookkeeper.com only work with QuickBooks, if you’re using different software, you may want to consider other options:
- Xero users: Consider using Bookkeeper360, which is a bookkeeping, accounting, and advisory solution for small to medium-sized businesses (SMBs) that use Xero or QuickBooks.
- FreshBooks users: FreshBooks has partnered with Bench to offer virtual bookkeeping services.
For more information about assisted bookkeeping services, check out our article on the best online bookkeeping services.
Compare QuickBooks Live vs Bookkeeper.com at a Glance
QuickBooks Live | Bookkeeper.com | |
|---|---|---|
What It’s Best For | QuickBooks users who need account setup, ongoing account reconciliation, and assistance | Small businesses seeking a full-service bookkeeper and/or payroll, tax preparation, and financial planning |
Monthly Pricing Plans | Starting at $200 per month | Starting at $449 per month |
Accounts Receivable (A/R) and Accounts Payable (A/P) | N/A | Additional fee |
Invoice Customers | N/A | Additional fee |
Pay Bills | N/A | Additional fee |
Account Reconciliation | ✓ | ✓ |
Account Cleanup | ✓ | N/A |
Payroll & Tax Filing | N/A | Additional fee |
Which Online Bookkeeping Service is Right for you?
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QuickBooks Live vs Bookkeeper.com: Pricing
The pricing for QuickBooks Live is based on a monthly expense cap, whereas Bookkeeper.com does not price its services based on the number of expenses but rather the number of transactions per month. Bookkeeper.com also has a wider range of services, including access to a team of financial advisors, which is reflected in its higher pricing.
QuickBooks Live Pricing
QuickBooks Live offers a choice of three subscription plans, which vary in price depending on the number of monthly expenses. After an initial cost of $500 for onboarding, you’ll pay the monthly fee that applies to your business. A subscription to QuickBooks Online is also required to work with QuickBooks Live, which starts at $30 per month for QuickBooks Simple Start.
There’s no free trial available, but you can opt for a free consultation to receive more information about the services that QuickBooks Live offers. You’re not required to sign a long-term contract, so you can switch or cancel your service at any time without incurring fees.
Low Volume | Medium Volume | High Volume | |
|---|---|---|---|
Monthly Cost | $200 | $300 | $400 |
Service Level | Monthly | Monthly | Monthly |
Monthly Expense Cap | Up to $10,000 | $10,001 to $50,000 | More than $50,000 |
Dedicated Bookkeeper & Account Manager | ✓ | ✓ | ✓ |
Month-end Close With Bank & Credit Card Reconciliation | ✓ | ✓ | ✓ |
Balance Sheet, Profit and Loss (P&L) & Statement of Cash Flows | ✓ | ✓ | ✓ |
Cash or Accrual | ✓ | ✓ | ✓ |
Secure Portal With Document Storage | N/A | N/A | N/A |
Bill Pay* | N/A | N/A | N/A |
Monthly Scheduled Meetings | No limit, but must be scheduled one at a time | No limit, but must be scheduled one at a time | No limit, but must be scheduled one at a time |
Lite CFO & Advisory Services | N/A | N/A | N/A |
*Doesn’t include software subscription and banking fees.
Bookkeeper.com Pricing
Bookkeeper.com offers four subscription plans, which vary in price depending on the number of monthly transactions or frequency of service. For any additional services, such as payroll or tax preparation, you can request a customized quote. Unfortunately, there’s no free trial available.
Small Business | Small Business Plus | Small Business Advanced | Custom | |
|---|---|---|---|---|
Monthly Cost | $449 | $649 | $849 | Custom |
Service Frequency | Monthly | Semimonthly | Weekly | Weekly |
Monthly Transaction Limit | 100 | 200 | 300 | Custom |
Dedicated Bookkeeper & Account Manager | ✓ | ✓ | ✓ | ✓ |
Month-end Close With Bank & Credit Card Reconciliation | ✓ | ✓ | ✓ | ✓ |
Balance Sheet, P&L & Statement of Cash Flows | ✓ | ✓ | ✓ | ✓ |
Cash or Accrual | ✓ | ✓ | ✓ | ✓ |
Secure Portal With Document Storage | ✓ | ✓ | ✓ | ✓ |
Bill Pay* | N/A | 20 monthly invoices | 40 monthly invoices | ✓ |
Monthly Scheduled Meetings | N/A | 30 minutes | 45 minutes | ✓ |
Lite CFO & Advisory Services | N/A | ✓ | ✓ | ✓ |
* Does not include software subscription and banking fees.
Takeaway: Although Bookkeeper.com’s starting price is more than twice that of QuickBooks Live, having access to a team of qualified professionals could ultimately help you save time and money in the long term. It also offers more flexibility than QuickBooks Live in terms of service frequency, with the option of monthly, semimonthly, and weekly.
QuickBooks Live vs Bookkeeper.com: Features
There’s some overlap with the available features for both QuickBooks Live and Bookkeeper.com, such as dedicated bookkeepers, account reconciliation, and financial reporting. However, Bookkeeper.com has more robust offerings, such as access to payroll services, tax preparation, and strategic planning.
QuickBooks Live Features
QuickBooks Live can be a major help for business owners who don’t have time to keep their own books and who want the hands-on, human support that basic, self-directed accounting software isn’t able to offer them. While it doesn’t provide as many services as Bookkeeper.com, it does have several useful features. Check out our review of QuickBooks Live for more information:
- Account setup: This includes customizing and setting up your chart of accounts and customer and vendor lists.
- Historical data: When setting up your account, you’ll be able to import any transactions that have occurred in the past.
- Bank and credit card connections: Your QuickBooks Live bookkeeper will assist with connecting your accounts, ensuring that your transactions will be downloaded automatically.
- Month-end close: Each month, your books will be reconciled and your bookkeeper will confirm that they’re accurate by preparing a trial balance.
- Reporting: Not only will you have access to a variety of customizable financial reports, but your bookkeeper will also review the reports and provide analysis.
- 100% Accurate Books Guarantee: If for any reason you want to ensure that your books are accurate, you can request a free audit of your bookkeeper’s work at any time.
- Access to a QuickBooks ProAdvisor: If you have any bookkeeping questions or need assistance with troubleshooting transactions, you can request a meeting with your QuickBooks-certified bookkeeper. The meetings occur via one-way video chat, with the option of sharing your screen.
Bookkeeper.com Features
Bookkeeper.com is a dependable one-stop solution for all types of small business tasks, from paying bills to managing payroll, with the added benefit of access to professional advisors. Unlike QuickBooks Live, you can also opt for payroll services and tax preparation as well as financial planning. Read our review of Bookkeeper.com for more information:
- Secure portal: Your financial data will be stored within Bookkeeper.com’s secure portal, which allows for document storage. Because Bookkeeper.com follows the data security regulations required by federal compliance agencies, you can be sure that your data is safe.
- Dedicated bookkeeper and account manager: Your dedicated bookkeeper and account manager will assist with onboarding and serve as your point of contact.
- Month-end close: Your accounts will be reconciled and closed on a monthly basis by your dedicated bookkeeper.
- Reporting: Each month, your bookkeeper will provide you with a balance sheet, P&L statement, a statement of cash flows, and customized reports. Bookkeeper.com has options that are more extensive than those provided by QuickBooks Live—you can also access financial calculators, which allow you to play with different scenarios.
- Payroll: This optional service allows for processing direct deposits for employees and filing quarterly and year-end payroll tax returns, W-2s, and 1099s.
- Tax preparation and planning: Bookkeeper.com can assist with individual and business tax returns, gift and estate tax returns, tax planning, and estate and succession planning.
Takeaway: Bookkeeper.com offers a much more extensive array of services than QuickBooks Live, which includes payroll management and document storage. There’s also general business consulting, strategic and tax planning, and training available if needed. But QuickBooks Live has one feature that Bookkeeper.com does not offer: the ability to request an audit of your books, free of charge, with the 100% Accurate Books Guarantee.
QuickBooks Live vs Bookkeeper.com: Working With Your Bookkeeper
Both QuickBooks Live and Bookkeeper.com match you with a dedicated bookkeeper who will work with you to ensure that your books are set up correctly, performing a monthly close and sending financial reports on a monthly basis. However, while a QuickBooks Live bookkeeper’s involvement is minimal, a Bookkeeper.com bookkeeper can perform transactions on your behalf within the software itself.
QuickBooks Live: Working With Your Bookkeeper
QuickBooks Live matches you with a team of QuickBooks-certified bookkeepers that are tailored to your business. You’ll be assigned a primary bookkeeper with a team of bookkeepers behind them who’ll work together on a custom plan just for you. They’ll keep your books up-to-date, regularly categorizing transactions and reconciling accounts throughout the month. If you ever have a question between appointments, your team of live bookkeepers is ready to help with on-demand chat. At the end of each month, your bookkeeper will close your books, and you’ll receive custom, up-to-date reports.
Once you sign up for QuickBooks Live, you’ll be given access to the QuickBooks Live Hub, which is a secure space that allows you to check on your bookkeeper’s progress and make an appointment for a video chat. Your bookkeeper will also post a step-by-step task list, which will be updated as tasks are completed.
Virtual meetings are conducted via one-way video chat—you’ll be able to see them, but they won’t see you. You can use virtual screen share to review your books together. During these virtual meetings, you’ll be able to ask questions about financial reports and request assistance with basic bookkeeping tasks. There’s no set amount of time per month that you can meet with your bookkeeper, but you can only schedule one appointment at a time:
QuickBooks Live Hub (Source: QuickBooks)
There are three elements that your QuickBooks Live bookkeeper will assist with:
- Setup and cleanup: Your QuickBooks Live bookkeepers will make sure that everything is set up correctly and customized to your business and industry. If you’re new to QuickBooks, your bookkeeper will help you set up your chart of accounts and vendor/customer lists. If you already have a QuickBooks account established, the bookkeeper will help you clean up your existing books.
- Ongoing bookkeeping: Your bookkeeper will categorize transactions and reconcile your accounts each month. They will not handle your A/R, A/P, or any other day-to-day bookkeeping tasks. Payroll management and tax preparation are also not included.
- Reporting: Each month, after your books are closed by your bookkeeper, they will send you copies of your financial reports, including your profit and loss statement and balance sheet.
Bookkeeper.com: Working With Your Bookkeeper
After you sign up for Bookkeeper.com, you’ll be assigned a dedicated bookkeeper, and you’ll grant them access to your QuickBooks account. You’ll still maintain access so that you can monitor the bookkeeping activities that they perform on your behalf. You’ll also have access to up-to-date reports. During the onboarding process, your bookkeeper will ensure that your bank accounts are connected to QuickBooks, then download the statements and classify them in QuickBooks.
You’ll interact with your dedicated bookkeeper via a secure online portal that allows you to upload documents and exchange information. You can also view your company’s transactions and request an appointment with your bookkeeper through the client portal. Bookkeeper.com offers free financial advice and software training as part of its package. There are teams of accountants and enrolled agents (EAs) available that can help you navigate your way through any business-related concerns, including preparing your tax returns.
Takeaway: Depending on your preferred method of communication, there are a couple of ways to interact with your QuickBooks Live or Bookkeeper.com bookkeeper. QuickBooks Live offers the benefit of one-way video conferencing with a screen share option, a feature that isn’t available with Bookkeeper.com.
Bottom Line
Along with its one-stop array of services, Bookkeeper.com is well suited to business owners looking for a helping hand with their business tasks, and financial advisors are available as part of the service. It may be a sizable investment, but if you want reliable and accurate bookkeeping, then it’s a good value for your money. If you’re seeking a more affordable solution and your business doesn’t need payroll services or tax help, you may want to consider QuickBooks Live.
