During the onboarding process, we try to match you with a primary bookkeeper who has experience in your industry. If that isn’t possible, we try to make sure that a member of the bookkeeping team has the experience necessary to handle industry-specific questions that you may have. QuickBooks Live comes with a customized set-up of accounts and linking to bank accounts for new QuickBooks users.
This includes a detailed review of your chart of accounts to ensure all of your past transactions are organized correctly. We’ve updated our Terms of Service to more clearly state that we give access to bookkeepers for services like categorization, reconciliation, reports, and closing books for tax time. There is a $50 initial fee for a one-time QuickBooks Live Bookkeeping Setup session.
Intuit QuickBooks Self-Employed
Your bookkeepers maintain, update, fix, reconcile, and categorize your transactions. They review and close your books at month’s end and provide you with critical financial reports. It’s not cheap, but the peace of mind it provides will be well worth the cost for many business owners.
As you proceed through each section, QuickBooks Online automatically saves your information and configures your account based on your responses. Simply log into your QuickBooks Online account and go to Settings ⚙ in the quickbooks live bookkeeping top right corner. Bookkeepers maintain step-by-step task lists here, too, so you always know what’s been done and what’s still left to do. Like all Intuit websites, the QuickBooks Live user experience is exceptional.
Configure Settings in Quickbooks Online
Because you’re assigned to a primary bookkeeper and his or her team, you know that they’re up to speed on your financial situation. QuickBooks Online Plus has two other features that extend its usefulness to small business. Android and iOS apps make it possible to do some of your work remotely—and we’re all working from home much more these days!
- As best practice, try to be as specific as possible when creating items.
- Some input and data entry is still necessary from the business owner, but all expense categorization, reconciliation, etc. are handled by the QuickBooks bookkeeper.
- They have the necessary tools to review your file and offer immediate guidance.
- Any recommendations are sent to our engineers for consideration in future updates.
- To get the best possible experience please use the latest version of Chrome, Firefox, Safari, or Microsoft Edge to view this website.
- You can also set up QuickBooks’ automated sales tax feature, which calculates sales taxes on invoices and receipts and notifies you about taxes due.
Importing provides accurate financial statements and reporting by reflecting historical business transactions and performance. To create your QuickBooks Online account, simply go to QuickBooks.intuit.com and click on “Try it Free”. Make sure to choose QuickBooks Online rather than the desktop version. In Account and Settings, you will be walked through each section that needs to be completed to set up your QuickBooks Online account. QuickBooks asks you relevant questions about your business and needs in order to tailor the setup.
Payroll Items/Retirement
Your selected duration will become your default net payment term, within which your customers must pay you. 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. Should an error be found, QuickBooks will reopen the books for that month and fix the error with no extra charge.
You can refer to this helpful article for guidance on how to set up local taxes in QuickBooks Online Payroll. A safe harbor 401(k) plan is a unique kind of 401(k) plan that avoids the need for nondiscrimination testing, which can be expensive for small businesses. While similar to traditional 401(k) plans, employers are required to make fully vested contributions to their employees’ safe harbor plans. Since the Live Bookkeeping option under My Experts is still missing after performing the steps provided by my colleagues above, I recommend contacting our Customer Care Team.