Hourly Bookkeeping Rates How Much Do Bookkeepers Charge?

The most important variables are whether you need full-time or part-time bookkeeping, and whether or not your bookkeeper is being hired as an office manager and administrator. The annual salary for full-time bookkeepers who perform other office duties can range from $35,000 to $60,000 plus benefits. The cost of our accounting and bookkeeping services varies based on your needs.

Go for professionals who have already worked with similar businesses. It’s also important to make sure they have experience in accounting software you use. For example, the process is similar to hiring an in-house bookkeeper but you don’t have to add overhead costs for employees on the payroll.

Average prices for bookkeeping services: Fast facts

A virtual bookkeeper is remote and available much more than an in-person bookkeeper. If you’re not confident that your DIY books are tax-ready, your accountant will charge you $150–$400 per hour for work that could have been completed by a bookkeeper. Otherwise, you may wind up missing out on profits or scaring off clients with high rates. Again, the best course of action for you to take when setting prices is doing your research. Take a look at industry averages, rates by state, and more to get an idea of how much to charge your clients.

Many bookkeepers charge their clients for initial consultations because it gives them a chance to look at the books. This gives them an opportunity to let the client know just how much they will need to charge to take over their bookkeeping. A client with a higher income is going to be able to afford a higher price tag for a bookkeeper, and your workload will be quite a bit higher than a small or medium client. This is the benefit to charging based on a percentage of your client’s revenue.

Flat Fees

It’s up to the decision makers in the company to determine the best appropriate solution to maximize their profitability and ensure their growth. Firms offering outsourced bookkeeping services tend to also be flexible to make sure their solutions fit your specific needs. These firms specialize in bookkeeping https://kelleysbookkeeping.com/brigade-outsourced-accounting-for-small-businesses/ and accounting, so their specialists will likely be more experienced and provide greater expertise than hiring an in-house bookkeeper. If your business is moving into a growth stage, you need to consider graduating to full accrual based accounting, with financial and management reports that help you scale.

You can categorize your clients into small, medium, and large based on the amount of time you spend on their bookkeeping each month. It’s reasonable for a new bookkeeper to charge around $40 an hour, but A Guide to Nonprofit Accounting for Non-Accountants you’ll need to do some research in your area to make sure that is a good starting point. From there, you can raise your rates as you gain more experience, and many top out around $80 or more an hour.