As you build a business, it is essential to put in place administrative tools that will assist you in managing daily operations, including financials. However, as businesses grow, they need to find ways to manage the tasks related to their financials effectively without necessarily hiring additional members for their team. Today, many businesses are turning towards online bookkeeping and accounting services to handle their bookkeeping, thus providing the expertise they need while minimizing capital expenditures. Many of the services available today offer a variety of options that can be customized to meet your needs both now and in the future. Let’s dive into Quickbooks Live vs AccountsBalance, what they offer, and the benefits they can provide to your company.
QuickBooks Live vs AccountsBalance 2023 Comparison
Quickbooks Live combines the benefits of the Quickbooks software with an accounting team, including a dedicated bookkeeper. They also help you to maximize all the options of your Quickbooks accounting software, including its ability to accurately categorize transactions and create reports to reflect the current financial situation of your business. AccountsBalance brings a high level of expertise to its bookkeeping service, giving you the ability to transition this critical administrative task to a service with strong processes. Both also offer high levels of support to address issues and answer questions when you need the answers.
QuickBooks Live vs AccountsBalance Overview
Quickbooks Live provides a bookkeeping service that aligns with its Quickbooks accounting software for a variety of businesses and industries. AccountsBalance provides strong process and bookkeeping expertise for small businesses, with the ability to meet the needs of a variety of industries.
| QuickBooks Live |
AccountsBalance
|
|
| Who’s It Best For? | Small businesses |
SAAS, agencies, & service providers.
|
| Monthly Pricing | Custom pricing |
Starts at $299/mo
|
| Clean Up Services | Yes, part of setup |
Yes, one time cost.
|
| Catch Up Services | Yes, part of setup |
Yes, one time cost.
|
| Account Reconciliation | Yes, monthly. | Yes, monthly. |
| AR & AP Work | In the Quickbooks software | Not at this time. |
| Tax Services | Not at this time. | Not at this time. |
| CFO Services | Not at this time. | Not at this time. |
| Dedicated Bookkeeper | Yes | Yes |
| Reviews | 4.5 stars | 5 stars |
| Website | Visit | Visit |
Who Should Use QuickBooks Live and AccountsBalance?
Quickbooks Live is a bookkeeping service geared toward businesses that are already using Quickbooks, including small businesses and professional services. AccountsBalance is geared towards online businesses, SAAS, and agencies, giving you expertise for multiple industries.
QuickBooks Live vs AccountsBalance Pricing
Quickbooks Live offers custom pricing based upon the needs of your business, allowing you to have a dedicated bookkeeper and full bookkeeping service. AccountsBalance provides controller oversight and strong processes that keep your bookkeeping on track.
| QuickBooks Live |
AccountsBalance
|
|
| Monthly Pricing | Custom pricing based upon your business |
Starts at $299/mo. Based on size and complexity of business.
|
| Catch Up Work | Yes, part of initial setup. |
Get a pricing quote w/in 1 business day.
|
| Clean Up Work | Yes, part of initial setup. |
Get a pricing quote w/in 1 business day.
|
| Set Up | Custom pricing based upon your business |
$499 for new QBO or Xero account
|
| Invoicing | Available in the Quickbooks software | Not at this time. |
| AP & AR | Available in the Quickbooks software | Not at this time. |
| Tax Services | Not at this time. | Not at this time. |
| Free Trial | No |
Yes, 1st month free.
|
| Pricing Details | Quickbooks Live Pricing |
QuickBooks Live vs AccountsBalance Features
Quickbooks Live offers the benefits of a bookkeeper who can help you to maximize the benefits of Quickbooks software, including all of its accounting features. However, your bookkeeper doesn’t handle the invoicing, bill pay, or other features of the software. You will still need to handle all those administrative tasks. AccountsBalance gives you the same bookkeeping services, including monthly reconciliation, categorization, and controller oversight, but also provides expertise for online businesses, agencies, and SAAS.
| QuickBooks Live |
AccountsBalance
|
|
| Dedicated Bookkeeper | Yes | Yes |
| Controller Oversight | No | Yes |
| Connect Bank Accounts | Yes | Yes |
| Categorize Transactions | Yes | Yes |
| Pay Bills | Through the Quickbooks software only | Not at this time. |
| Invoice Customers | Through Quickbooks software only | Not at this time. |
| Account Reconciliation | Yes | Yes |
| Tax Consulting | Not at this time. | Not at this time. |
| Tax Filing | Not at this time. | Not at this time. |
| CFO Services | Not at this time. | Not at this time. |
| Income Statement | Yes | Yes |
| Balance Sheet | Yes | Yes |
| Cash Flow Statement | Yes | Yes |
| Reports Delivered By | Monthly | 15th monthly |
| Catch Up Services | Yes, for a fixed cost. |
Yes, for fixed cost.
|
| Clean Up Services | Yes, for a fixed cost. |
Yes, for fixed cost.
|
| Payroll Services | Not at this time. | Not at this time. |
| International Support | Yes | Yes |
| Support | Yes, responses in 1 biz day |
Yes, responses in 1 biz day
|
QuickBooks Live vs AccountsBalance Software
Quickbooks Live is compatible with Quickbooks but can also integrate multiple applications to make sure all your transactions are being recorded and categorized. The Quickbooks Live team will transition you to the software as part of your initial setup. AccountsBalance is compatible with Quickbooks Online and Xero, giving you an option for which accounting software you want to use.
QuickBooks Live vs AccountsBalance Customer Support
Quickbooks Live is based upon the idea of creating a quality bookkeeping support for your business, but they do not provide full accounting options. Instead, their support team teaches you to maximize the benefits of the Quickbooks software. AccountsBalance provides support for the way that you do business, providing answers when you need them through a number of different options.
| QuickBooks Live |
AccountsBalance
|
|
| Unlimited Support | Yes | Yes |
| Community Support | Yes | Yes |
| Email Support | Yes | Yes |
| Text Support | Yes | Yes |
| Live Chat Support | Yes | Not at this time |
| Phone Support | Yes | Yes |
|
Searchable Knowledgebase
|
Yes, on their blog. |
Yes, on their blog.
|
| Online Help Resources | Yes, on their blog. |
Yes, on their blog.
|
| Responses Within | 1 business day | 1 business day |
Frequently Asked Questions (FAQs)
1. Which is better for online businesses?
AccountsBalance combines the expertise of a bookkeeping service with the knowledge of online businesses and their unique needs. Quickbooks Live is a bookkeeping service that helps you to integrate your accounting software with your bookkeeping needs, which can be used with a wide variety of businesses.
2. What should I consider when hiring a bookkeeper online?
Before hiring a bookkeeper online, it is important to know what tasks you want them to handle and what tasks you want to keep in-house. That can assist you in determining if a bookkeeping service offers the features you want and need for your business, both now and in the future.
3. What’s different between a freelance bookkeeper and these bookkeeping companies?
A freelance bookkeeper can focus solely on your business, but they are limited by experience and the level of support they can offer. Plus, if they are ill, then your bookkeeping can fall behind. These bookkeeping companies offer a high level of support, along with a team that can keep your bookkeeping on track as they get to know your business.
4. How much does an online bookkeeping cost on average?
An online bookkeeping service can average around $200 to $300 per month, but this cost can increase as your number of transactions goes up or if you require additional services for your business. With Quickbooks Live offering additional accounting services, your pricing will vary based on the services you choose for your business. AccountsBalance provides affordable options with strong processes in place to keep your bookkeeping up to date and accurate.
What Is AccountsBalance?
AccountsBalance is a monthly bookkeeping service specialized for agencies & SAAS companies.
We take monthly bookkeeping off your plate and deliver you your financial statements by the 15th or 20th of each month.
You’ll have your Profit and Loss Statement, Balance Sheet, and Cash Flow Statement ready for analysis each month so you and your business partners can make better business decisions.
Interested in learning more? Schedule a call with our CEO, Nathan Hirsch.
And here’s some free resources:
In Summary
Quickbooks Live is a full-service bookkeeping option that aligns with its accounting software, giving you the expertise to maximize the benefits of its software. AccountsBalance provides controller oversight and expert bookkeepers to meet the needs of online businesses, small businesses, agencies, and SAAS. Both offer quality bookkeeping services, with catch-up options available to get your books up to date and accurate. Working with these services, you get the benefits of quality bookkeeping without the additional costs of a full-service accounting department. Before choosing the right fit for your business, you need to be clear about how much you want to handle in house and how much of your financial tasks you want to outsource to an expert. With this clear picture of what you need, you can determine which service offers what you need.
