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How to Charge for Your Bookkeeping Services

Bookkeeping

How to Charge for Your Bookkeeping Services

how much should i charge for bookkeeping

As you know, experience and technology improve efficiency. An hourly rate discourages efficiency simply because https://www.bookstime.com/articles/how-much-does-bookkeeping-cost you earn less when you speed up your process. The majority of your clients will opt for the gold package.

how much should i charge for bookkeeping

When considering the question of how much a bookkeeper costs, think about what matters most to you. The average cost of a bookkeeper ranges anywhere from $500 to $2,500 a month. We support thousands of small businesses with their financial needs to help set them up for success. The costs a small business or nonprofit incurs for bookkeeping will depend upon many variables.

How Do Bookkeepers Determine Their Average Hourly Rate?

The success of your accounting firm depends so much on implementing a pricing strategy that boosts profitability while sustaining longevity without damaging your brand. Instead of sticking with a safe but short-range pricing strategy, develop purposeful prices that will lead to more success. The way you charge for your services shouldn’t be an afterthought in the way you run the rest of your business.

Think of this bookkeeping service as a mix between traditional accounting and bookkeeping. 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. Depending on how much work you have and how long you need services, a contracted worker might be a better option. Bookkeepers have a wide variety of skills, so one of the factors you need to consider is what you need them for.

Common pricing strategies for accounting firms

Another potential advantage is specific industry experience. If you need or want specific experience with a wide range of companies similar to yours, an online provider might be the right place to start looking. To get you started, we’ve collected a chart below of the average hourly wage for bookkeepers in each state.

According to Glassdoor, it costs about $42,000 a year to hire a bookkeeper for your small business. But, this cost can vary based on additional factors such as your bookkeeping needs and where you run your business. A full charge bookkeeper has a larger responsibility and full oversight over a company’s finances.

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