Instead, you need to ask yourself how much value you provide for your client. If you can do the job more efficiently or insightfully, you’re likely adding more value for your client than your hourly wage goal. On the other hand, if you’re working with a small company, they may have simpler needs and require less work. Remember, even small businesses can be complex and may need additional support because they have fewer resources. If you’re working with a large company, they may have more complex needs and require more work from you. They may also need specialized additional services and reporting.

• The most common services of outsourced bookkeepers include virtual bookkeeping services, cloud-based bookkeeping, and the use of accounting software to manage a company’s financial data.
• Unlimited referrals Refer a fellow entrepreneur and receive $150 and a free month of bookkeeping for every referral who becomes a Bench client.
• Today, the importance of virtual bookkeepers is increasing rapidly.
• We charge a set monthly subscription fee rather than billing on an hourly basis because, unlike other finance and accounting firms, we don’t spend time doing repetitive tasks manually.
• 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.

Often, our estimate will include several suggestions for accounting changes that could lead to further cost savings. Accurate Books Guarantee is only available for active customers of QuickBooks Live Monthly Bookkeeping who have provided their current business tax return. If your Live Bookkeeper makes an error that requires you to re-open your books for any month, we’ll correct the error in your books for the month that the error occurred at no additional charge. Now that we’ve gone over some of the factors you need to consider when pricing your bookkeeping services let’s take a look at a few different pricing structures you can use.

Implement a late fee

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. In addition to these basic bookkeeping activities, your costs will be impacted by how your accounting systems, policies and procedures, and reporting needs are set up and administered. A bookkeeper’s role is to maintain a business’s financial health.

Part of the advantage of a professional service is that it can save you money by reducing the time spent on basic tasks. It can also help you to better track your spending and analyze potential financial hazards. Depending on your bookkeeping needs, you can pay as little as $275 a month (when billed annually).

What should bookkeeping services cost?

Keeping your books in order and up-to-date is the foundation of the financial strength of your business. Hiring a full-time bookkeeper in this situation could be the right answer for you. Virtual bookkeeping is a convenient and cost-effective alternative to traditional in-house bookkeeping. The services provided The Ultimate Guide To Bookkeeping for Independent Contractors by a virtual bookkeeper are comparable to those of an in-person bookkeeper but are conducted entirely online, using cloud-based software and online communication tools. But when it comes to hiring a bookkeeping assistant, having complete knowledge about the current hourly bookkeeping rates is essential.

There’s no reason for you to start from scratch on your bookkeeping pricing proposal template. Jetpack Workflow believes that applies to all of your recurring tasks. Many https://adprun.net/accounting-payroll-services/ firm owners underestimate how long it will take them to complete a project, which can lead to pricing that doesn’t adequately reflect the time and effort involved.

Seamlessly Integrate with Your Preferred Software

Secondly, our team is highly experienced – our account managers have an average of 11 year of experience, which means they don’t have to reinvent the wheel every time a client has a need. Someone in Kruze has probably seen it and done it, which saves us time and lowers our costs. Finally, we’ve built in-house software to help us generate our clients’ books and financial reports. We combine that proprietary technology with best-in-class, off-the-shelf software like QuickBooks, Expensify and others to deliver high quality, and affordable, services. Part time bookkeepers will charge between $400 and $800 per month for basic bookkeeping, excluding the benefits.

All our services are performed on a fixed fee basis so you know exactly what it will cost each month. We will give you an exact quote for the work before you start, and firm deadlines for getting it done. Our agreement is done in writing and spells everything out so you know exactly what you are getting and what it will cost. At Keeper, we’re on a mission to help people overcome the complexity of taxes. We’ve provided this information for educational purposes, and it does not constitute tax, legal, or accounting advice.