Along with considering the above factors when setting your pricing for bookkeeping services, you’ll also want to set up a pricing structure that works for you and your firm. When setting your bookkeeping services prices, consider creating different tiers for the size of the client. In-house accounting, on the other hand, gives you peace of mind knowing that someone you know and trust is handling your books and financials. The only drawback of paying a full-time accountant is that you may need to offer them employee benefits. As great as it is to talk about potential bookkeeping costs and get estimates, we know that seeing an actual average for your state can yield excellent value for you as a business owner. Please see the chart below with data pulled directly from the US Bureau of Labor Statistics 2022 data to learn more about the average salary and hourly rate for bookkeeping.
- Sign up today for a free trial and explore all of the features that Xendoo can offer you and your business.
- The best accounting service providers will allow you to start with the services or package you want (or can afford) now but remain open to change as your business grows.
- AccountingDepartment.com has a full team of controllers and accountants to take care of the financial aspect of your business.
- Once the entries are assigned to the correct accounts, you can post them to the general ledger to get a bird’s-eye view of your current cash status.
- Maybe the freelancer is experienced in a single software and charges a lower rate for it.
Instead, you should be able to add on other services as you need them. Your accounting department should be able to add on and scale these services as you need them. Decimal offers a number of add-on options to accompany its bookkeeping services.
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But before you do, let’s look at some questions you should ask yourself before making the decision. We can fully wipe your data, too—at the end of the day, it’s your info and your call. For S-Corps, C-Corps, and Partnerships, you can add-on personal filing for 1 partner or shareholder for just $59/mo when billed annually or $69/mo when billed monthly. If getting your books caught up is your priority, our Catch Up and Retro bookkeeping teams will work with you to get your books in order, fast. Discover the 4-step process used by hundreds of firm owners to double your prices (as soon as today) without increasing workload. There is a fine line between overcharging and undercharging, but the sweet spot does exist and you’ll know when you find it, because your clients will be happy, and so will you.
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. 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 bookkeeping pricing packages $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. Bookkeeper360 stands out among some of its competitors by offering bookkeeping services for both cash basis and accrual basis accounting, plus it integrates with popular accounting software.
How to package your bookkeeping services as a small business
If you’re unsure if cash basis bookkeeping will work for your business, talk to us. We’d be happy to understand the needs of your business and determine if Bench is a good fit for you. Once you securely connect your financial accounts to the Bench platform, we’ll pair you with a dedicated bookkeeper. During your demo, we’ll walk you through the services included in each Bench bundle to determine which is the best fit for your business. Discover the direct correlation between standardized processes and boosted profits for your accounting firm.
If needed, make adjustments to your pricing to reflect costs in your locality or state. Bookkeepers have a wide variety of skills, so one of the factors you need to consider is what you need them for. If it’s basic client billing and documentation, a good solution may be accounting software that can assist you if you still want to play a more hands-on role. There is no magic number to know when you’re ready to take on a bookkeeper for additional support. Instead, it’s more of a holistic view of time, resources, and the ability to become more efficient that will make or break your decision. And now that you know the answer to the question “How much does a bookkeeper cost?
Practice barrier #6: value pricing & bundling
Some clients will be a one-time deal, while others may need you on a regular basis (e.g., quarterly). Partnering with Patriot earned this accountant a 50% cost savings from his previous provider, decreased his time running payroll, and more! At some point or another, you may have clients of all sizes—aka small, medium, and large clients. And when one client’s size is larger than another client, you’re going to want to price services accordingly.