If you decide to hire and manage a bookkeeper you’ll also have to decide whether the position is part-time or requires full time. If you decide to outsource, there are a few ways to go including local bookkeeping services, local CPA firms that offer bookkeeping services and specialized, national outsourced bookkeeping firms. Let’s look into three different options your company could consider to fill this need… Based on the average salary of a bookkeeper, you should be paying roughly $3,516 a month for bookkeeping if you choose to hire a bookkeeper. Keep in mind that this bookkeeping cost per month depends on your bookkeeping needs, where you run your business, and if you decide to hire an in-house bookkeeper or use online bookkeeping services. Hiring a bookkeeper costs $40 to $100 per hour, depending on the location, business size, and services needed.
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. However, for this client, I also do receipt management, which is probably the most time-consuming task I do for this preschool. Even if you aren’t planning on growing any time soon, you need to have a sense bookkeeping services pricing of how much money is coming in vs. what is going out. An experienced bookkeeper provides you with a better picture of your records. If you hire a bookkeeper with industry-related experience, then it can assist you on a different level. But if your business is going through ebbs and requires proven tactics to channel your financials in a smooth manner, then a veteran bookkeeper is the best option.
The 5 Best Bookkeeping Services for Small Business
So to bill correctly, it’s important to identify what you’re charging for, the way you charge, and what adjustments you can make to improve your bottom line. For example, a Certified Public Accountant (CPA) is paid more than a traditional accountant due to having to meet higher education and licensing requirements depending on their state. Sales, production, and employee retention are all extremely important. And while it may not be the most glamorous topic, bookkeeping also plays a part. In addition to getting certified through the AIPB or NACPB, providers may also advance their learning to get certified in QuickBooks. Basically, there are three main types of certifications available for bookkeepers.
- A recently certified accountant may charge $50 to $150 per hour, while Certified Public Accountants (CPAs) with 10+ years of experience sometimes charge up to $1,000 per hour.
- From there, the total pay is determined with the applicable taxes and withholdings.
- And while it may not be the most glamorous topic, bookkeeping also plays a part.
- On top of that, you need the data used in bookkeeping to file your taxes accurately.
- If you would make more in that time than you would spend on a bookkeeper, it may be worth hiring one.
Many small businesses opt for outsourced bookkeeping services to save time, effort, and costs. By outsourcing bookkeeping services to Global Accounting Corp, you can access expert bookkeepers at a lower cost than hiring an in-house accountant. It is advisable to carefully assess your business’ needs and budget before choosing a bookkeeping service that will work best for your company. In doing so, you can ensure that you get the most value for your money and have accurate financial records that can help guide your decision making. There are three types of bookkeeping services that small businesses can benefit from – full-service bookkeeping, virtual bookkeeping, and DIY bookkeeping.
How Much Should You Be Paying for Bookkeeping Each Month?
Here are the necessary elements which are deciding factors for bookkeeping services cost. 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. On average, hiring a full-time bookkeeper will cost around $5000 a month or $60,000 per year. While part-time bookkeepers would earn around $2000 per month on average.
