QuickBooks Live Bookkeeping Update: May 2019

QuickBooks Live Bookkeeping Update: May 2019

Editor’s note: This article was updated May 16, 2019.

QuickBooks® Live Bookkeeping (QuickBooks Live) is a monthly subscription service intended to fill gaps for small businesses and self-employed who aren’t currently connected to ProAdvisors® and accounting professionals. Many who use QuickBooks Online are connected to ProAdvisors through our Find-a-ProAdvisor platform, but our research shows that 40% of small businesses don’t currently work with ProAdvisors or bookkeepers. That said, 89% of small businesses say they’re more successful when working with accountants. That’s where QuickBooks Live enters the equation.

For ProAdvisors and bookkeepers, QuickBooks Live provides a new opportunity to earn extra money, plus offers the flexibility of remote work and setting your own hours—all while elevating the value of human-powered financial management. This is the next step in Intuit’s continued effort to partner small businesses and self-employed with ProAdvisors and bookkeepers.

Over the next few months, we’ll continue conducting a variety of tests focused on tailoring QuickBooks Live for small businesses, and qualified bookkeepers and ProAdvisors. Let’s get into the latest tests we are running for this service.

May 2019

First, we are excited to tell everyone that being a QuickBooks Online Certified ProAdvisor is one of the required qualifications for accounting pros providing this service. Additional requirements determined to date are:

  • a minimum of one-year’s experience working with QuickBooks Online AND
  • an active CPA credential (Certified Public Accountant) OR
  • an active CPB credential (Certified Public Bookkeeper) OR
  • 3+ years of recent experience managing the books for a Small Business Clients OR
  • received a 4-year business degree in Accounting/Finance

The team continues to finalize all the qualifications and we will share updates when those are solidified. In the meantime, are you interested in being contacted to possibly provide bookkeeping services to small businesses on the QuickBooks Live platform? If you haven’t already provided us your name and would like to do so, please tell us about yourself here.

With the QBO recertification date of July 31st approaching, now is a great time to get recertified in QBO or get certified for the first time, especially if you want to possibly provide bookkeeping services through QuickBooks Live. There are several ways you can prepare for the QBO certification exam:

In addition to nailing down all the job requirements, the team continues to test price and small business interest in QuickBooks Live. Our tests continue to be focused on reaching small businesses not currently connected to a ProAdvisor or accounting professional. There are two upcoming tests we want to share with you.

On May 28, we are launching a test in-product that allows small businesses not currently connected to a ProAdvisor or accounting professional using QuickBooks Online Accountant to purchase QuickBooks Live for $400 a month. Only a limited number of small businesses will be able to purchase the service through this test. As we near this limited number, we will reduce the percentage of visitors able to view the test.

On June 3, we are launching a test on QuickBooks.com that allows small businesses to purchase QuickBooks Live Bookkeeping for $400 a month when purchasing their QBO subscription. This test is expected to run through June and be visible only to a percentage of prospective customers visiting QuickBooks.com. This test will also only allow a limited number of small businesses to purchase the service at this time. As we near this limited number, we will reduce the percentage of visitors able to view the test.

As a limited number of small businesses purchases this service, we need to scale the number of ProAdvisors serving these new customers. Therefore, we’re hiring more QBO certified ProAdvisors to provide bookkeeping services for QuickBooks Live, growing the number from 10 (all of whom are located in Boise, ID) to 50. These 40 new hires will be remote staff, some of whom are tax experts who previously were part of our TurboTax Live team.

What’s Next

The team will continue to learn from the interactions between the small businesses and the ProAdvisors working with them. These interactions will lead to learnings that will help us define exactly what QuickBooks Live entails and how we can scale the platform to serve both small businesses and ProAdvisors.

Want additional information on tests that took place over the last few months? Here’s a summary of past tests with links to our previous blog articles.

April 2019

In April, we continued to test pricing models and gauge small business interest for the service with QBO in-product promotions. We also brought more small businesses into the pilot, who continue to be helped by the small group of ProAdvisors working with them in our Boise, ID office. You can read more about April’s update here.

March 2019

In March, we connected small businesses who’d previously expressed interest in QuickBooks Live with our team of ProAdvisors currently working out of Boise, ID. We continue to learn and listen to how and when small businesses engage with these ProAdvisors, the questions they’re asking, and the kind of help they need. Read more about March’s update here.

Frequently Asked Questions

We still have many unanswered questions as we continue researching and testing QuickBooks Live:

  • How much will the service cost?
  • How much will ProAdvisors/bookkeepers be paid?
  • What’s the basic scope of services offered through QuickBooks Live?
  • What happens when a small business outgrows QuickBooks Live’s services?

In the meantime, here are some FAQs we’ll continue updating as we learn from tests over the next several months.

What’s included in the QuickBooks Live service?

Pending additional testing, the service will include setup, monthly categorization, reconciliation, reports, end-of-year book-closing, and help using QuickBooks.

Will you continue offering Find-a-ProAdvisor?

Yes, we’ll continue investing in and offering Find-a-ProAdvisor. We have a dedicated team working every day on making Find-a-ProAdvisor better for ProAdvisors, driving even more connections to small businesses through our platform.

Will QuickBooks Live be offered to folks who already have accountants?

Our goal is to offer QuickBooks Live to small businesses who aren’t currently connected to a ProAdvisor, bookkeeper, or accountant.

What are the qualifications as an accounting professional to provide services to small businesses on QuickBooks Live?

We haven’t yet determined all the required qualifications. But one required qualification is that all accounting pros on the platform must be QuickBooks Online certified ProAdvisors.

When QuickBooks Live goes live, how can I participate?

We’ll notify ProAdvisors and bookkeepers through our standard channels—including email, in-product, FirmoftheFuture.com, and social platforms (Facebook, Twitter, and LinkedIn).

Can I give feedback on QuickBooks Live?

Absolutely! We value your input very much. Please take a moment to share your thoughts.