We believe in providing excellent accounting services at a reasonable price. The cost of our bookkeeping and consulting help ultimately depends on the depth and breadth of service. While bookkeeping and consulting is at the heart of our operating strategy, we also offer payroll processing, tax compliance, accounting software training and virtual CFO services. Full-Service Bookkeeping doesn’t include sending invoices, paying bills, or management of inventory, accounts receivable, or accounts payable.
- Meanwhile, the average hourly wage for in-house bookkeepers is approximately $21.10, ranging from $26.85 in Washington to $16.55 in North Carolina.
- As you can tell, how much you should charge as a bookkeeper can vary based on a lot of factors.
- That same survey found that, on average, practitioners who obtained Quickbooks ProAdvisor certifications significantly increased their overall hourly rates.
- We take care of the training and development of all our professionals.
- If done right, value pricing should therefore result in higher margins.
- It’s common for people to group accounting and bookkeeping together, but they have different functions, expertise, and qualifications.
Fixed fee pricing is an attractive option for both bookkeepers and clients. For bookkeepers, it provides a guaranteed expected income, and for clients, it ensures that they will not be surprised by a large bill at the end of the month. When it comes to charging for bookkeeping services, there are a few factors that you will need to consider. Value pricing is a bookkeeping method that assesses the value of products or services based on their perceived worth to the customer rather than on their actual costs. This approach is useful for bookkeeping businesses wanting to focus on creating valuable products or services for their customers.
Can you help get my books up to date?
We set startups up for fundrising success, and know how to work with the top VCs. I personally can tell you, they’ve done a great job for our companies, including Calm.com. No matter what payment schedule you choose, you should always send your invoices in a timely manner. Next, think about how much time it will take you to complete the work. This will vary depending on the size and complexity of the project, but it’s important to have a general idea of how long it will take you to do the work.
If needed, make adjustments to your pricing to reflect costs in your locality or state. To illustrate what a large client looks like, I’ll be using a physical therapist office I do bookkeeping for that generates about $1.2 million in revenue a year. This office employs 10 speech pathologists and general staff and circulates child clients who come in for their services. With my small clients, I do all the regular bookkeeping tasks, such as hooking their banks up to QuickBooks Online, categorizing all their transactions, and reconciling at the end of the month. However, for this client, I also do receipt management, which is probably the most time-consuming task I do for this preschool. Even though I’m giving you the hours it takes me with each of these clients, I don’t necessarily keep track of them.
Communicating your price
As a simple example, this means that year-end tax return preparation fees will be billed the same way for Client A and for Client B. Regarding bookkeeping services, bookkeeping for startups you will need to decide on a payment schedule. When deciding on a payment schedule, you should consider the scope of work and your client’s needs.
Another key benefit to outsourcing bookkeeping to a professional CPA firm is the level of expertise received. Small businesses and even mid-size companies don’t always hire the best talent to handle their daily and monthly bookkeeping responsibilities. Without significant prior experience in bookkeeping, it is impossible for a business owner to gauge the expertise level and capabilities of an in-house bookkeeper.
Hourly Bookkeeping Rates – How Much Do Bookkeepers Charge?
An in-house bookkeeper will often cost you more than an outsourced bookkeeper, although hiring one so gives you more oversight and control over your bookkeeping. Bookkeepers keep track of a business’s earnings and expenses, ensuring all financial records are in order. For example, if a reasonable monthly payment for doing your books is $500, then cleaning up an entire year of neglect could be in the $5000 range. Straight bookkeeping (our monthly reporting package) is more in the 1% range. Accountants have specific education and certification requirements that depend on their state of residence. Typically, accountants need a bachelor’s degree in accounting and to pass their state’s Certified Public Accountant (CPA) exam.
How do you charge clients for bookkeeping services?
An industry standard would be to charge about 1-3% of your client's gross income, and that is about what they should spend on a monthly bookkeeper (or all of their bill pay and invoicing or other office tasks).