The size of the client company is also an important factor to consider when pricing your bookkeeping services. Otherwise, you may wind up missing out on profits or scaring off clients with high rates. As you can tell, how much you should charge as a bookkeeper can vary based on a lot of factors. So, you need to take your time when setting prices for your services.

This option is ideal if you have a good understanding of the scope of work involved and you are confident that you can complete the job in a timely manner. A small business client may see the value in bookkeeping services that help them save time and money. They may be willing to pay a higher rate for bookkeepers who can do more work for them in less time. Offering custom services means tailoring your services to each client’s needs. This is a good option if you want to offer a wider range of services. For custom pricing, you’ll need a general idea of how much you charge for each service and then consider if the total cost for all the services for the client is reasonable.

How to Increase Profit Margins Through Virtual CFO Services

GrowthForce can serve as your outsourced advanced bookkeeping and accounting department. If your business is moving into a growth stage, you need to consider graduating to full accrual based accounting, with financial and management reports that help you scale. Typically you will need this level of financial management not only for bookkeeping for startups yourself but for your key stake holders including banks, investors and advisors. The more you offer, the more you need to reconsider the price you charge for bookkeeping services to ensure you’re charging clients the right amount for your services. But you should be aware of which levels of an employee are performing each task.

• Xendoo pricing takes into consideration the varying needs of businesses by offering a range of plans based on your monthly expenses.
• When it comes to charging for bookkeeping services, there are a few factors that you will need to consider.
• Our bookkeeping service delivers consistent quality and enterprise-level financial reporting (and never takes a vacation).
• Offering custom services means tailoring your services to each client’s needs.
• Your bookkeeper ensures you’re keeping track of income and expenses.

QuickBooks Live is our top pick for online bookkeeping services because it offers cleanup bookkeeping services that vary based on your company’s needs for your first month. This service is ideal for business owners who want to get their bookkeeping in order but don’t have the time or resources to do it themselves. Instead of going through the hassle of hiring and paying accountant pricing, many businesses have turned to online bookkeeping services. The two fundamental components to how much getting your books done costs are transaction volume and dollar amount spent.

Services Include

Your services agreement should include a list of which financial statements will be provided, and how often they will be delivered. Another area to be clear within the bookkeeping service scope is how many bank accounts and credit cards need to be reconciled. Take the time initially to understand the chart of accounts, and bank and credit card accounts you’ll be working with. The benefit here though is that you can typically extract a higher price from the client than with a fixed accountant fees approach. If done right, value pricing should therefore result in higher margins. Deciding what to charge for bookkeeping services can be a complex task.

• Another option is to work as an in-house bookkeeper, which typically earn a salary of $49,672 per year, or the national average of $24 per hour.
• The average salary for a bookkeeper in the United States in 2018 is around $14-$17 per hour (per Indeed) which is about $2,400 to $3,000 per month.
• After assigning a weighted score to each category, we formulated rankings for each company.
• Companies will often choose to train an existing employee or office manager to take on the extra responsibilities of a part-time bookkeeper.
• It’s up to the decision makers in the company to determine the best appropriate solution to maximize their profitability and ensure their growth.
• Otherwise, you could wind up losing clients to other firms (and no bookkeeper wants that).