By accurately recording every transaction, entrepreneurs can have a clearer picture of the business’s financial health. They can gain important insights to help them make better budgeting decisions, prepare tax returns, and plan strategically. Try us for free—we’ll do one prior month of your bookkeeping and prepare a set of financial statements for you to keep. When deciding if you should do your bookkeeping yourself or hire outside help, the decision is entirely up to you. For example, if you have the time to handle bookkeeping yourself, you might continue to do so to save money. On the other hand, if you’d like to use the time you spend bookkeeping focusing on other aspects of your business, then the cost of a bookkeeper may be worth it.
- Common projects include financial audits, IPO preparation, M&A services, forensic evaluations and documenting internal controls.
- Remember, whether you choose traditional or value-based pricing, the goal is always to provide top-notch services that your clients appreciate.
- Mismanagement of your business’ money could mean less room for growth, and lack of productivity.
- Discuss how bookkeepers leverage software, automation, and AI tools to maximize efficiency and minimize manual work.
Bench: Best for new businesses
Be upfront about what's included in your services and what would incur additional charges. This step is crucial because it sets realistic expectations and helps prospective clients understand the scope of your services. If you can manage your job and some of the accounting each month but need a little extra help, a part-time bookkeeper might be a good fit for your business.
Can I cancel your services at any time?
Reach out to 3-5 recommended local bookkeepers for quotes based on your defined scope of work. Compare rates, fee structures, included services and packages side-by-side in a spreadsheet. For example, one may charge $30 per hour while another offers an all-inclusive monthly fee. Part time bookkeepers bookkeeping price packages will charge between $400 and $800 per month for basic bookkeeping, excluding the benefits. For full time services, expect to pay from $3,000 to $4,500 per month without the benefits. For outsourced bookkeeping, the price is from $500 to $2,500 per month for basic bookkeeping tasks.
Is contracted services or in-house better?
- Go for professionals who have already worked with similar businesses.
- Intuit QuickBooks Online’s powerful, cloud-based accounting solution helps businesses of all sizes manage their finances.
- Using our proprietary cost database, in-depth research, and collaboration with industry experts, we deliver accurate, up-to-date pricing and insights you can trust, every time.
- With this method, you kickstart monthly recurring invoicing from the beginning of a new financial year for all work that relates to that financial year only.
- Ledger helps you streamline operations and increase efficiency by bringing more clients into QuickBooks Online, reducing time spent switching between accounting solutions.
- If you require double-entry bookkeeping because your cash flow isn’t straightforward, you should also expect to pay more.
Based on the average salary of a bookkeeper, you should be paying roughly $3,516 a month for bookkeeping if you choose to hire a bookkeeper. Keep in mind that this bookkeeping cost per month depends on your bookkeeping needs, where you run your business, and if you decide to hire an in-house bookkeeper or use online bookkeeping services. Rather than hourly billing, some professionals offer flat monthly fees for defined packages of services. The monthly fee depends on factors such as estimated hours, scope of services and experience level. Packages can help budget predictably but may cap hours if more work is required.
They can do work such as inputting receipts and tracking employee timesheets, accounts receivable and accounts payable. When hiring a part-time bookkeeper, management still needs to have someone reviewing the work of the bookkeeper. A full charge bookkeeper has a larger responsibility and full oversight over a company’s finances. If you’re not there already, it’s worth upskilling to get to that point, as you’ll be able to justify higher pricing packages.
If you have a large business or more complex needs, you may need to hire a full-time bookkeeper. You will want to do your research before pricing your services, and you will also want to maintain some level of flexibility to adjust your rates in the future. When it’s time to take the plunge, do away with hourly pricing in arrears, and embrace the upfront fixed-fee billing mode – you might be asking what you should be charging. Another model that has gained popularity and relevance is the fixed-fee pricing model. This pricing model sets a fixed price for each service based on a narrowly defined scope. Our bookkeeping services are virtual so we communicate with clients via email, phone, Slack, or even video conference.
Do you need add-on services outside of basic bookkeeping tasks?
