This method offers a true snapshot of your assets and debts at any given time. The cost of bookkeeping services can vary depending on the size of your business and the features you need. Some bookkeeping services charge a monthly fee while others charge by the hour. You can find services for as little as $20 per month while others run thousands per month.

In a survey by PracticeWeb, 66% of clients surveyed said they would pay more for a ‘tech-savvy’ accountant. For example, many people think profitability starts and ends with their hourly rate, but that’s operating under the (usually false) assumption that hourly is the best way to charge for your services. Investing in your business is essential to its success and growth. Some of the best investments you can make as a business owner are those which allow you to focus on the core of your business while outsourcing tasks that aren’t your specialty. Whether you’re a self-employed professional, a business with employees, a business with contractors, or a freelancer, you can benefit from FreshBooks’ services.

800Accountant: Best for tax support

Let’s compare the cost of an in-house bookkeeper vs. an outsourced bookkeeper. But keep in mind that these numbers are industry averages, and are subject to variables, like your location. “So then why wouldn’t I hire an accountant who could handle all of the above? If you’re a small-to-medium business, the thought of hiring a bookkeeper seems lofty at best, and decadently impossible at worst. You may also consider throwing in other costs, like a fee for an initial consult, to your pricing structure. There are a number of certifications you can get as a bookkeeper.

When you work with Ignite Spot Accounting, you’ll get bookkeepers certified in a variety of popular programs, such as QuickBooks and TSheets. If you choose its chief financial officer (CFO) services, your CFO will be a certified public accountant (CPA) at a minimum. Its features include automation of tasks, Gusto payroll processing, balance sheet production, income statements, accuracy checks and transaction databases. Decimal offers a number of add-on options to accompany its bookkeeping services. Several of those additional services — including job costing, project profitability tracking and inventory management — lend themselves well to businesses that work largely on a project basis. If either part-time or in-house bookkeeping is not the ideal solution, switching to outsourced bookkeeping or accounting could be your best option.

How much should I charge for bookkeeping services? 6 Factors to consider

To get you started, we’ve collected a chart below of the average hourly wage for bookkeepers in each state. Keep in mind that these are averages, for the entire state – in large, diverse states, local salaries might vary a lot from the statewide average. For example, salaries in San Francisco or Los Angeles are likely to be significantly higher than in Redding or Bakersfield, even though they’re all in California. After you sign up to Bench, a dedicated member of our team will assist you in connecting all your financial accounts securely to our platform.

• It’s important to figure out what kind of services you need, whether it is regular bookkeeping, tax assistance, or budgeting and advisory services.
• Not to mention, if you want your business to grow and scale, you’ll need to let go of some of these tedious tasks, like balancing the books.
• You shouldn’t be locked into one package long-term or limited by the abilities of your outsourced accounting services.
• This makes it easier to manage your business bookkeeper costs by factoring in a consistent monthly rate.
• But if it’s more complex, like building out your financial outlook, you might be better off with hiring an accountant.
• Your bookkeeper reconciles your accounts, categorizes your transactions, and produces your financial statements.

Different industries also require different services, which can affect the overall cost. Having the proper education and experience is crucial, but it’s not the most important factor in determining the price of the service. You’ll find that bookkeepers who have completed all 3 programs have a much higher average bookkeeping pricing packages hourly wage. The type and number of certifications a bookkeeper has can impact the actual cost of their service. You also get the benefit of a higher expertise level compared to training your office manager for bookkeeping. If any of these warning signs resonate with you, it may be time to hire a bookkeeper.