How Much Does a Bookkeeper Cost?

But what you might not realize is that putting bookkeeping off can cost exponentially more time. So you’ve concluded you can’t afford your own hourly rate to keep doing your bookkeeping.

• Depending on experience, in-house bookkeepers can charge anywhere from $18-23 per hour.
• Investing in a bookkeeper or accounting team is one of the best investments you can make to grow your business.
• Or perhaps you’re tight on cash and can’t afford to hire a professional right now.
• However, outsourcing is a mistake that small business owners often make.

We will go over the cost of bookkeeping — and help you determine whether it’s right for you. how much does a bookkeeper cost Jesus Morales is an Enrolled Agent and has 7 years of bookkeeping and tax experience.

Fixed Rate Pricing

If you have just launched your business, there are several core things you’ll find yourself trying to figure out. Bookkeeping is one of the basic requirements for running a company, but it is also one of the most complex and challenging aspects of business ownership. Understanding your options for bookkeeping services and their costs will help you tremendously in ensuring the long-term growth of your company. Many small businesses in the early stages are primarily concerned with compliance – paying bills, getting paid, recording transactions, ensuring payroll accuracy and following state and federal regulations. At some point, your business will cross a threshold and you’ll begin to place more emphasis on the need for timely, accurate financial reports and intelligence. This is when you’ll need more advanced bookkeeping, accrual-based accounting, and management or managerial accounting to help you make data-driven decisions. Did you know that 40% of business owners said that bookkeeping and taxes are the worst part of owning a business?

If you’re just doing your research to see if you want to become a freelance bookkeeper, there are a few key things you need to consider. First, you need to decide if this is going to be your side hustle or if you’re committed to providing bookkeeping services on a full-time basis. To help you navigate through this process, we have created a comprehensive guide on how to start a bookkeeping business. If you’re growing, outsourced bookkeeping services should be able to help you scale by adding full service accounting when you are ready for it.

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In an ideal world, I’d have a handful of clients, I’d work two days a week, and I would have them pay me a set amount up front with automatic payments so we both know what to expect each month. It’s reasonable for a new bookkeeper to charge around $40 an hour, but you’ll need to do some research in your area to make sure that is a good starting point. From there, you can raise your rates as you gain more experience, and many top out around $80 or more an hour. Partnering with Patriot earned this accountant a 50% cost savings from his previous provider, decreased his time running payroll, and more!