Hourly Rates for Bookkeepers How Much Do Bookkeepers Charge?

The highest referral a business owner can find is from a friend in the industry. If you’re looking at an online bookkeeping service, verify their ratings. Ask how long they’ve been in business, and whether they have accountants on staff to help with the bigger questions. If you’re paying for software to do your taxes, that’s an additional cost to factor in when doing your calculation.

Factors Influencing Hourly Rates for Bookkeepers

So if you’re ready to wave the white flag on handling your red and black margins, let one of BELAY’s experienced remote bookkeepers help. At BELAY, we’ve provided remote services from all over the U.S. for 10 years. We work hard to evaluate the necessary tools and technologies that support remote work relationships while providing the key checks and balances needed in bookkeeping. At BELAY, our current length of service with our bookkeepers is 25 months – though we have many bookkeepers that have been with us five years and more. Now, let’s lay the argument of in-house vs. outsourced bookkeeping squarely on what this looks like in application – with real dollars-and-cents. Accountants who have a bachelor’s degree in accounting – or a finance degree considered an adequate substitute – and interpret, classify, analyze, report and summarize financial data.

Factors That Affect Bookkeeping Rates

If you’re not confident that your DIY books are tax-ready, your accountant will charge you $150–$400 per hour for work that could have been completed by a bookkeeper. Hiring an accountant costs $150 to $400 per hour on average, depending on their experience. 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.

• So let’s break down the various bookkeeping options, who they’re best for, and how much you’re likely to spend on them.
• The basic services are maintaining accounts payable and receivable, reconciling bank and credit card accounts, and generating monthly financial reports.
• The information you’ll uncover has been stamped with the seal of approval by our top-notch experts.
• Not having a CPA lined up (and consequently doing key steps in your financial management process incorrectly) can prove more costly in the long run due to mistakes, fees and delays.
• But with today’s advancements in technology, outsourcing has never been easier.

questions to ask yourself before hiring a bookkeeper

If you can get away with that, part-time bookkeeping services can be much more affordable than a full-time bookkeeper working in house. Not all bookkeepers are equal in the types of services they offer, and this is often a major factor in how much you make per hour. The basic services are maintaining accounts payable and receivable, reconciling bank and credit card accounts, and generating monthly financial reports.

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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. If the answer is yes, then size shouldn’t be your how much does a bookkeeper cost deciding factor. As you’ve seen, there are several solutions to this bookkeeping dilemma, but they also come with additional questions you should keep in mind before making a decision.

Bookkeepers must keep thorough, up-to-date records of organizational financial transactions. Bookkeeping requirements also cover reconciliation, the process of comparing internal records with bank records to ensure there are no discrepancies. At the same time, the number of predicted bookkeeping job openings per year over that period is 183,900. Compare this to the expected 126,500 annual openings for accountants and auditors (BLS).

With the right technology, you can automate bookkeeping processes and tasks that once took hours of your time. 58% of accountants said updating technology has improved efficiency and productivity, which is vital for creating space to add the services that clients demand. Bundling services together in set packages is a good way to implement fixed-fee pricing.

Resources for Your Growing Business

These offices may have particular insights about companies and roles in their area. Though bookkeepers don’t need to hold college degrees, some may see their salaries increase after completing an undergraduate degree. Ian discussers the phases of transitioning to value pricing (setup, implementation, and execution) and walks you through the process in ten proven steps. Discover the direct correlation between standardized processes and boosted profits for your accounting firm.

$40 – $100 average hourly rate