How much a bookkeeper costs also depends on the payment arrangement. You’ll usually pay for bookkeeping services in one of the three ways—hourly, salary, or a flat fee. You know what they say—“You get what you pay for.” https://simple-accounting.org/10-companies-that-hire-for-remote-bookkeeping-jobs/ And, that saying holds true for bookkeeping services. You should be charging your clients accordingly for your services. Otherwise, you could wind up losing clients to other firms (and no bookkeeper wants that).

• Additionally, if the job takes longer than expected, you may also lose money on the project.
• And you also want to ensure you’re being compensated for all of your efforts.
• (Based on data from Bureau of Labor Statistics, Salary, Payscale, Glassdoor, and Indeed.) This comes out to $3,200 – $3,520 per month, or an average hourly wage of $20 – $22.
• This means we can complete your bookkeeping tasks up to ten times faster than firms that handle everything manually.
• In the past decade, the professional services industry has transformed significantly.

The short answer is much more than an online bookkeeping service or freelancer. Although, some may pay hourly, especially for part-time employees. However, there’s no set cost for hiring a professional to manage your business’s finances.

What’s The Difference Between Bookkeeping & Accounting?

In addition to bookkeeping and tax advice, plans come with accounting software like Xero and Quickbooks, mobile apps, and profit and loss statements. It might make sense for a large business with complex bookkeeping needs year-round to have an in-house How Much Do Bookkeeping Services Cost for Small Businesses! bookkeeper. However, for most small businesses, an online bookkeeping service is a better option. Kruze provides startups with specialized accounting, tax advisory, and financial reporting services you need so you can focus on the big picture.

“The ideal is that at the year-end – if it’s a really tidy set of books – often the accountancy fees can be a lot lower because there’s less tidying to do at year-end by the accountant,” she says. The work which takes a qualified freelance bookkeeper a few hours per week could be costly and time-consuming if businesses did the bookkeeping themselves. “Clients have different business models, so some will be raising heaps of invoices – like online businesses – everyday. Others might raise a couple of invoices a week but they might have more expense transactions going through, so it does vary from client to client,” says Whitman. Ask the client if there are any external spreadsheets you need to maintain.

The two components to bookkeeping services pricing

Additionally, by focusing on value rather than cost, businesses can avoid making decisions that would result in losing money. Hourly pricing is typically seen as a better option for bookkeepers who are just starting out or don’t have much experience. However, remember more accountants and bookkeepers are working remotely.

QuickBooks Live Bookkeeping is, hands down, why I have been able to stop waking up in the middle of the night panicking about the financial end of my business. Learn how our Live Bookkeepers are helping small businesses get more done. Team up with your very own QuickBooks-certified bookkeeper who understands your industry and gets to know your business. Tax deductible Bench is fully tax deductible when our favorite time of year rolls around.