Bookkeeping Services in QuickBooks Online for US Small Businesses

Who it's for

This is for the US small business owner who has QuickBooks Online and nobody keeping it current. A few hundred bank transactions are waiting for review, the credit card hasn't been reconciled in months, and your CPA wants clean books before starting your return. Or the books are a year behind and the bank wants a balance sheet for a loan. We work only in QuickBooks Online, remotely from India, and keep the books your CPA needs for your tax return.

What's included

• Recording and categorizing your bank and credit card transactions, matching payments to the invoices and bills already entered so nothing is counted twice.
• Receipts and bills you upload matched to the expenses they belong to.
• Stripe, Shopify and PayPal payouts split into the sales, fees and refunds behind each deposit, so sales are recorded in full and fees as an expense.
• Monthly reconciliation of every bank and credit card account to its statement, down to a $0.00 difference, with the reconciliation report saved.
• A profit and loss statement and balance sheet each month, with a short note on what moved and why.
• Catch-up and clean-up of books that have fallen behind, including miscategorized and duplicate entries.
• Year-end books, closed and reconciled, for your CPA.

What we need from you

• A user login of our own in your QuickBooks Online company, added by you. Your own login stays with you.
• Your bank and credit card accounts connected to QuickBooks Online.
• Monthly statements for every bank, credit card and loan account. We reconcile to the statement, not the feed.
• Receipts and bills, uploaded from the QuickBooks mobile app, by email or from a computer.
• Your payroll provider's reports, if you have staff, so payroll costs land in the right accounts.
• Payout reports from Stripe, Shopify or PayPal, if you take payments through them.
• For a catch-up, the last tax return filed for the business.

How the monthly cycle works

Once the month's statements are out, we categorize and match the transactions and reconcile each account. Anything the documents don't explain goes on one list of questions to you, not a message every time something comes up. When you have answered, we close the month and send your reports, on dates agreed in advance. India is 9½ hours ahead of US Eastern time during daylight saving time and 10½ hours ahead the rest of the year, so most of the work happens outside your business hours. When a call helps, we set it for our evening, which is morning on the East Coast.

Why work with us

BalanceView is a bookkeeping firm with its office on Ashram Road in Ahmedabad, India. The senior partner has more than 15 years of experience in accounting and tax in India, and the other partner more than five. For US businesses we do one job, outsourced bookkeeping in QuickBooks Online, and stop where your CPA's work starts. You always know who is responsible for the books, and your CPA gets a reconciled set to work from instead of a file to rebuild.

Frequently asked questions

Do you prepare or file my US tax return?

No. Your CPA prepares and files your tax return, and we keep the books it is prepared from. We also don't run payroll, file sales tax returns or 1099s, or represent anyone before the IRS.

How do I give you access to my QuickBooks Online?

You add us as a user. In QuickBooks Online, go to Settings, then Manage users, and select Add user. You need to be the primary admin or a company admin. We take one of the billable user seats in your plan: Essentials includes three, Plus five and Advanced 25. Simple Start includes only one, so a Simple Start file has to move up a plan first. Your CPA's firm can still be invited as an accountant, which doesn't use a seat.

Can you catch up books that are a year or more behind?

Yes. Bank feeds reach back 90 days to 24 months, depending on the bank, so older months come in from your bank's transaction files or PDF statements. We work forward a month at a time, reconcile each account as we go and check opening balances against the last return filed. We quote after seeing the file, since the time depends on volume and on how much paperwork survived.

How is my data handled when the work is done in India?

Your books stay in your own QuickBooks Online subscription, and its audit log records who made each change. You connect your bank to QuickBooks Online yourself, so your banking login never reaches us. You can delete our user from Manage users at any time. Documents you send us are used only for your books.

Can you clean up a QuickBooks Online file that was set up wrong?

Yes. We start with the setup, since one wrong choice there repeats every month after it: the chart of accounts, opening balances, bank rules and how sales and payments are recorded. Then we correct the transactions and reconcile each bank and card account again to its statements. Merging duplicate accounts can't be undone in QuickBooks Online, so we list the changes for you to approve first, and for your CPA if a year already filed is affected. We quote after seeing the file.

Message us on WhatsApp and we will tell you what it takes to bring your books up to date.

Tell us your QuickBooks Online plan, how many bank and card accounts you have and the last month reconciled. No logins or statements needed.