Intuit QuickBooks now provides free guided setup to small businesses new to QuickBooks Online article

Your bookkeepers will explain what they mean at the end of each month and send you PDF copies of reports like your Profit and Loss statement. At the end of each month, your bookkeepers review and close your books. QuickBooks Online Plus has this capability built in, but it’s not required, so many businesses don’t do it. After reviewing all of the month’s transactions and fixing anything that needs fixing, your bookkeepers set a closing date and lock everything that was entered before then. This helps prevent accidental changes that could impede accurate reporting.

It’s the best way to ensure your account is set up to your exact preferences, and it also gives you the perfect opportunity to get advice that will help you make the most of your QuickBooks account. Reading how-to guides like ours is a great first step to setting up your QuickBooks Online account, but we’re just one resource among many. There’s plenty of information at your fingertips to help you make the most of your QuickBooks account, starting with these. Depending on how many months’ worth of expenses you’ve imported, this process can take quite a while.

Sign In

To set up a QuickBooks Online account, start by visiting QuickBooks’ site to choose an accounting plan. After signing up for either a 30-day free trial or 50% off your plan’s base cost for three months, you’ll be directed to a sign-in page where you can choose your user name and password. From there, QuickBooks’ setup wizard will prompt you to enter your business’s information, sync any third-party apps you’re already using, customize invoices and start tracking finances. At the end of each month, your bookkeeper will send you PDF copies of key financial reports, which include your balance sheet and profit and loss (P&L) statement.

For example, you don’t have to worry about importing your bank statements, since they’re brought in automatically. Everything in your accounts gets touched by your bookkeepers, so nothing falls through the cracks—as long as you’re keeping up with your transactions. QuickBooks Live pairs you with experienced bookkeepers who can reconcile your accounts, close your books, and provide advanced reports. Thanks to its excellent administrative tools and procedures, and an exceptional user experience, you always know where your accounts stand. If you work with a popular subscription service such as QuickBooks Live Bookkeeping, you can pay as little as $200 per month for bookkeeping. Other services may cost as much as $2,500 per month, depending on the complexity of your business’s books.

How do I set up a QuickBooks Online account?

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! And, if the site doesn’t provide enough tools in a particular area, there’s probably an integrated add-on that can expand on the site’s own abilities. You are partnered with quickbooks live setup a dedicated bookkeeping team you can communicate with regularly, they do all your bookkeeping for you, and you are presented with tax-ready financial statements. If you invoke the guarantee, QuickBooks will conduct a full n evaluation of the Live Bookkeeper’s work. You can cancel your QuickBooks Live plan or upgrade from Assisted Bookkeeping to Full-Service Bookkeeping at anytime.

Most businesses meet with their bookkeeper on a live call once a month. These monthly meetings are a great time to get a status update on your books and go over key financial statements. If you’ve signed up for QuickBooks Live Bookkeeping, you can meet with your bookkeeper at regular monthly appointments.

Drawbacks of QuickBooks Live Bookkeeping

If you don’t have one, you can sign up for QuickBooks Live Bookkeeping by clicking the “Live Bookkeeping” tab on the left-hand side of your dashboard. This virtual service connects you with a bookkeeper who can organize your books and perform basic account maintenance on a monthly basis. 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.

• Assisted Bookkeeping doesn’t include cleanup of your books or a dedicated bookkeeper reconciling your accounts and maintaining your books for you.
• If you have apps you would like to connect to Quickbooks, it is best to do so when the first 6 steps are completed.
• Again, if you’re not sure what a chart of accounts is or which accounts will prove useful to your business, I recommend checking in with your accountant.
• A video should also pop up offering to give you a quick tour of the dashboard (I definitely recommend taking it).
• Other times, you click buttons or select options from drop-down lists.