Go ahead and identify the services that you want to include and decide what your gold, silver, and bronze services will look like. It is easier to upsell your customers to more expensive levels when you have different tiers of services available. A packaged service is repeatable so you’re very likely to have effective methods in place to complete the work.

Lalea & Black is a full-service Los Angeles CPA firm specializing in outsourced accounting, bookkeeping, business management, and tax services. Full-time employees also tend to be more involved with the company for which they work, and you should receive greater long-term benefit from working with someone who knows your business thoroughly. In addition to the above, a business owner may also be wary of trusting a part-time bookkeeper with some of the critical financials and records of their customers bookkeeping for startups and/or clients. Such nuances can make the division of labor and trust a real strain on the employer and their company. One of the biggest disadvantages of hiring a part-time bookkeeper is that they provide only partial support in an area of business that requires a lot of attention and detail. You will need to dedicate some of your time to audit their work on an on-going basis, and you may still be required to do more of the high-level accounting work, such as projecting and reporting.

Giersch Group bookkeeping rates

Find a company that offers 24-hour service so that they can help you when you need it most. After all, some of the hardest times to get help are during the weekends and in tax season, but this is exactly when you’re most likely to have questions. A professional bookkeeper may have the certifications and work history, but have they dedicated their career to helping other businesses to succeed? Look for a bookkeeping service whose business model relies on the success of others.

Hourly billing can be a good option for bookkeepers because it is simple to implement. You can also easily adjust your rates as your experience and skills increase. When you’re just starting out, it might be tempting to determine how much you want to earn per hour and back into your pricing from that point. Instead, you need to ask yourself how much value you provide for your client. If you can do the job more efficiently or insightfully, you’re likely adding more value for your client than your hourly wage goal. To decide which option is best for you, consider your experience level, the type of work you’ll be doing, and your clients’ needs.

Level of Education

If you’re growing, the outsourced bookkeeping service should be able to help you scale by adding full service accounting when you are ready for it. Many factors contribute to your decision about how much to bill your clients. Once you evaluate the average rate of pay for your geographic location, your level of education, and any certifications, you’ll have a better idea of what to expect in terms of an hourly rate. Your work experience is also key as are the types of bookkeeping services offered, your expertise with accounting software, and the frequency at which you’ll be providing services to your client. In general, bookkeeping services include managing all aspects of accounts payable (A/P) and accounts receivable (A/R), reconciling bank and credit card accounts, and generating monthly financial reports.

Explains how to create a business model and determine what percentage of revenue should be spent on bookkeeping. Before you make a long-term commitment with us, try us for seven days free of cost! Our 7-day free trial with a money-back policy can be an excellent opportunity to explore our services before signing up for a plan.

How Much Does An Outsourced CFO Cost?

On the other hand, if you offer more complex services, like tax preparation or strategic planning, you may want to charge a higher price. Prices matter when it comes to running a business, but a bookkeeping service is not a place where you want to cut corners. Part of the advantage of a professional service is that it can save you money by reducing the time spent on basic tasks. It can also help you to better track your spending and analyze potential financial hazards. Most business owners are great at what they do, but it can still be tedious when they have to reconcile the daily reports and manage all the paperwork after a long day at work. Hiring a bookkeeper to maintain your financial records is a smart investment.

But when it comes to hiring a bookkeeping assistant, having complete knowledge about the current hourly bookkeeping rates is essential. It will help you understand the type of services you can currently afford and choose the right professional. It also helps you avoid the occurrences of underpaying or overpaying the bookkeeper. For example, let’s say you spend about five hours a month on bookkeeping, and your average hourly rate is $75.