How much does a bookkeeper cost?

bookkeeping pricing packages

If you’re comparing bookkeeping services and trying to decide which plan is best for your startup, start by determining which benefits are most important for your business. You can choose a monthly, quarterly, or annual subscription, whichever suits your business best. The template is divided into seven sections, and includes critical details for each step. 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.

  • Then, any package they see at a lower price will look like a good deal.
  • You also have the liberty to bookkeeping cost per hour and much more.
  • As an example, Unloop is a bookkeeping agency that specializes in QuickBooks.
  • Consider your clientele and group them based on company size, number of employees, number of monthly transactions, industry requirements, and how complex their finances are.
  • Resource-intensive tasks may not be best for your bookkeeping packages.For the services you are considering packaging, use your time-tracking program to calculate the average billable hours spent on each.

A bookkeeping service company must have a track record of both past and ongoing clients. Accounting services are essential for a growing business, but they have a cost. So it’s only logical to make a cost-effective choice before deciding to commit. And because you’re giving them a quote prior to starting the work, prospective clients won’t be surprised by any hidden costs.

How Do Bookkeeping Price Packages And Services Usually Work?

Value-based pricing means pricing your services upfront based on the perceived value they have to your clients. By definition, fixed-fee pricing is inflexible, and in a complex industry, inflexibility can cost you money. Bookkeepers, especially new businesses (the ones who don’t have to make the sometimes messy transition to another pricing model), should avoid hourly billing for that reason. Don’t be fearful of having conversations about raising rates with long-term clients.

Our agency’s bookkeeping services integrate with the major bookkeeping software that includes, but is not limited to, Freshbooks, QuickBooks Online, and Xero. If you are currently using a different bookkeeping software that we are not integrated with, we can confirm first if we support the software that you are using. We will work closely with you to ensure that the right software is used for your business and get the results you want. A good number of small businesses and individuals trust us for their accounting and bookkeeping services.

Quarterly Bookkeeping

Not only do you get a granular view of where your money is going, but you can get key insights within seconds. Most bookkeeping services give you a ballpark estimate of your monthly cost based on a scope of work, but it’s only that—an estimate. Since you won’t know in advance how many hours of bookkeeping service will be needed to manage your finances, it’s hard to predict exactly what your monthly bill will be with this kind of price package.

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. Most people don’t want the most expensive option, but they also feel dissatisfied with selecting the base option because it lacks certain features. Studies show that if given three options, consumers are 66% more likely to choose the middle tier. You can take into account the client, the job type, your experience, along with many other factors to give a fair quote. Location plays an important factor in pricing, although less-so since the pandemic and the rise of remote work and cloud accounting. However, be aware that business size does affect a bookkeeper’s workload and may lead to you paying more or even for a second bookkeeper to alleviate some of that burden.

Related Articles for Business Owners

We combine that proprietary technology with best-in-class, off-the-shelf software like QuickBooks, Expensify and others to deliver high quality, and affordable, services. So, when you are selecting a restaurant CPA firm, it is recommended that you look for a firm that has hospitality expertise bookkeeping pricing packages alongside an intricate understanding of restaurant-specific accounting nuances. At Bookkeeping Chef, our experienced team of restaurant consultants offers a complete menu of services that will help your independent restaurant to minimize tax liabilities and maximize cash flow.

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