How much does a bookkeeper cost?

There are a lot of aspects you need to be aware of if you’re choosing value pricing. To give you a more solid idea, take a look at how much other firms are charging. In this guide, we’ll explore the different pricing models to help you strike the right balance and earn more revenue. Add footnotes to the bundles to mention limits and overage rates. There are two additional benefits if this method will work in your situation. However, be aware that business size does affect a bookkeeper’s workload and may lead to you paying more or even for a second bookkeeper to alleviate some of that burden.

questions to ask yourself before hiring a bookkeeper

Another extra task that I do for this client is to write checks for this preschool, so I am a signer on the bank account. Discover the 4-step process used by hundreds of firm owners to double your prices (as soon as today) without increasing workload. Templates, workflows and automations all give you time back in your day that you can spend building your client base and adding value for existing clients. 58% of accountants said updating technology has improved efficiency and productivity, which is vital for creating space to add the services that clients demand.

Spend less time bookkeeping and more time growing your business.

1. One of the extra tasks I do for this law firm is their bill pay.
2. There are a number of certifications you can get as a bookkeeper.
3. The risk with project-based pricing is that projects may take longer than you estimate, or the scope of the project grows beyond the initial proposal.
4. I work a maximum of 10 hours per month on this particular client’s books, and charge $500 a month, which still comes out to be roughly $50 an hour.
5. They also make adjustments to your books to ensure they’re accurate and tax-compliant.

Check out this podcast episode for a few other things to keep in-mind when it comes to discovery calls. Even if you believe you’re providing significant value, it won’t matter if the prospective client doesn’t see it. Find out more about fixed and value pricing in this blog post.

That way, there are no surprise fees, and clients know what to expect from you. There are a number of certifications you can get as a bookkeeper. And in turn, these certifications can increase your expertise (and your pricing). One of the extra tasks I do for this law firm is their bill pay. You can use different programs to get electronic copies of their bills, or they can be emailed to you if there isn’t anything confidential on the bill. The main types of checks I write are reimbursement checks if the teacher buys supplies with her own money, or certain vendors will send invoices, and I will write a check for those.

Thoughts on hourly pricing.

Introducing a high price first can shock your potential subledger vs general ledger clients a bit, but it makes the other options seem more affordable, easing the path to closing the deal. Here, you want to determine the services the client will need and the scope of those services. Discovery calls are calls are set up with potential clients to determine if there’s a mutual fit. And while this method offers the most potential revenue-wise, the process of coming up with the right price requires some legwork.

Reach out anytime — we’d love to learn more about your business needs and see how Bench can support you. After you sign up to Bench, a member of our bookkeeping team will assist you in connecting all your financial accounts securely to our platform. This enables you and your Bench team to work together seamlessly from the start. Our intuitive software automates the busywork with powerful tools and features designed to help you simplify your financial management and make informed business decisions.

Full-service bookkeeping (and accounting)

Remember, clients are often willing to pay more for quality – so don’t sell yourself short when setting your prices. Part time bookkeepers 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. Bookkeepers who productize their offers usually have different pricing plans that include various services. For example, a basic plan may include a monthly bank reconciliation for two accounts and financial statements delivered monthly.

I do not offer full-service payroll as a bookkeeper, and I don’t do payroll in QuickBooks, but my clients have a payroll service they use. It allows you to adjust your fees without painting yourself into a corner, which can happen if you provide quotes to clients when you don’t know the details of their business. If you hire self-employed bookkeepers from another country, you can also experience major cost differences. For example, a freelance bookkeeper located in India or other low-cost countries can charge less for their services compared to an independent bookkeeper in Europe or Canada.