How much does a bookkeeper cost?

These factors not only impact the time and effort required to deliver the service, but they also influence the perceived value of the service in the eyes of your clients. Virtual bookkeepers can work in any location (including their own home), so they don’t have as many expenses to cover and can offer lower prices. Plus, because you are not limited to working with a bookkeeper who lives locally, you can find the best value virtual bookkeeping service for your business, regardless of location. Your bookkeeper reconciles your accounts, categorizes your transactions, and produces your financial statements. They also make adjustments to your books to ensure they’re accurate and tax-compliant. Occasionally your bookkeeper might need your input on things like categorizing a transaction properly, but we try our best to make bookkeeping as hands-off as possible for you.

Otherwise, you could wind up losing clients to other firms (and no bookkeeper wants that). The rates bookkeepers charge vary based on how and where they work, and the range of expertise they offer. The following six factors will help you gauge how much your preferred type of bookkeeping service will cost. When it comes down to choosing your outsourced bookkeeping services, choose a bookkeeper that you feel comfortable with and who understands your industry. They don’t have to know about tech or marketing, but rather they understand the type of finances and situations your type of business will face day-to-day and over time.

Bookkeeper.com Alternatives & Comparison

It means you set a fee for each service you offer and provide clients with a ‘menu’ of sorts, with corresponding prices. The number of tasks you assign to them directly impacts the price of each bookkeeping service. Many new businesses start out doing basic bookkeeping by themselves. However, as you start spending more time growing your business, you’ll tire of performing the bookkeeping tasks.

• Businesses typically expect certain services to be part of bookkeeping, but providing additional offerings that add value to your clients’ businesses can justify charging a higher fee.
• Again, the best course of action for you to take when setting prices is doing your research.
• You may also want to increase pricing depending on what services are in demand and when they’re being taken advantage of (e.g., last-minute requests).
• If you choose on-site bookkeeping, the location of your business will determine what the going rate is for a bookkeeper since the average bookkeeping rate varies significantly between cities and states.
• And in turn, these certifications can increase your expertise (and your pricing).

This process ensures that articles are well-researched and organized, offering in-depth insights and recommendations. Fit Small Business maintains stringent parameters for determining the “best” answers; including accuracy, clarity, authority, objectivity, and accessibility. These criteria ensure bookkeeping pricing packages that the content is trustworthy, easy to understand, and unbiased. Our timesaver package will provide you with a proactive partner who will handle your accounting needs while you focus on business. If you’re looking at a basic bookkeeping package with yearly bookkeeping, this is for you.

Be Clear About Pricing

Hiring an accountant costs $150 to $400 per hour on average, depending on their experience. A recently certified accountant may charge $50 to $150 per hour, while Certified Public Accountants (CPAs) with 10+ years of experience sometimes charge up to $1,000 per hour. A full charge bookkeeper works full time, as opposed to part time or as needed, and oversees all the accounts for a business or organization. They keep track of ledgers, accounts payable and receivable, payroll, and invoices. Bookkeepers provide a variety of financial services found in the table below.

If they value your relationship and the service you provide, they’ll understand why you make  occasional and reasonable increases. But if it’s more complex, like building out your financial outlook, you might be better off with hiring an accountant. As you’ve seen, there are several solutions to this bookkeeping dilemma, but they also come with additional questions you should keep in mind before making a decision. To help you on this decision-making journey, we’ve gathered four questions to ask yourself before hiring a bookkeeper. On top of this, it is also a bookkeeper’s job to keep everything organized. That way, when it is time to file your small business taxes, you can easily access all the data you need.

ways to price your bookkeeping services

Perfect option for keeping up to date when your transaction volume doesn’t require monthly upkeep. For many smaller businesses, quarterly bookkeeping is all you need and a better option in the long run than only looking at your books once per year at year-end. Then, your bookkeeper will reconcile your accounts, categorize transactions, produce financial statements — overall handling your essential bookkeeping tasks on a monthly basis. You can also call your bookkeeper or message them in Bench for support whenever you’d like. The more you offer, the more you need to reconsider the price you charge for bookkeeping services to ensure you’re charging clients the right amount for your services. You know what they say—“You get what you pay for.” And, that saying holds true for bookkeeping services.