After passing the AIPB’s certification exam, you will be recognized as a certified bookkeeper. Many new businesses start out doing basic bookkeeping by themselves. However, as you start spending more time growing your business, you’ll tire of performing the bookkeeping tasks. Mississippi has the lowest average hourly rate for bookkeepers at only $13.17. Kentucky and West Virginia have the second-lowest at $14.19 per hour and third-lowest at $14.44, respectively. A full charge bookkeeper differs from a bookkeeper since they also perform accounting tasks.
Additionally, we offer exceptional customer service and transparent pricing, so you always know what you are paying for. You should choose outsource-bookkeeper.com for all your bookkeeping and payroll needs because we offer the lowest average bookkeeping rate without compromising on quality. Our team of experts will ensure that your https://quickbooks-payroll.org/ financial records are always accurate and up-to-date, and we use the latest technology to streamline the entire process. Additionally, we offer exceptional customer service and customized bookkeeping services to suit your specific needs. With outsource-bookkeeper.com, you can expect great things for bookkeeping and payroll services.
How Much Does it Cost to Outsource Bookkeeping Services?
You can calculate the time spent on bookkeeping tasks and translate that into dollars. If you spend too much time on bookkeeping, it’s easier to hire a bookkeeper to keep track of your financial records, financial statements, and other elements. This doesn’t include the benefits that can cost up to 20% of their salary.
However, most businesses that make the leap see the value and experience an ROI rapidly. The average hourly rate for bookkeepers in the U.S. is $20 per hour, according to
Salary.com. The range swings from $18 to $25 per hour, and there’s a lot of room for growth beyond the $25/hour figure. That can be a huge time saver for business owners versus processing payroll themselves. Depending on what kinds of services your bookkeeper provides, they may be able to issue and process paychecks or direct deposits and make tax payments (withholding) on behalf of your employees. Professional bookkeeping services can be expensive, but the cost depends on a few different factors.
How Much Should I Charge for Bookkeeping Services?
Your credentials show prospective employers that you’re a qualified bookkeeper and you’re willing and able to grow professionally. As a result, certification can lead to advancement opportunities in other areas of accounting, as well as finance and management positions. What’s more, a bookkeeping certification will help you hone your skills and provide more in-depth job training.
- It’s a way to show your skill set to potential employers and others in your professional network.
- Bobby Hoyt is a former band director who paid off $40,000 of student loan debt in 18 months on his teaching salary and then left his job to run Millennial Money Man full-time.
- We are experienced bookkeepers, accountants, tax experts and CPAs who use our skills to make your life easier every single day.
- You’ve been saving your money and combing the housing market and, just when you’re ready to buy your first home, you get broadsided by rising mortgage interest rates.
Additionally, we offer exceptional customer support and transparent pricing, so you always know what you are paying for. Ideally, hire part time bookkeepers when you can do some of the accounting yourself, and could use extra help for employee timesheets, accounts payable, and accounts receivable tracking. Even if you hire a part time bookkeeper, your management would still have to review their work. Part time bookkeepers will charge between $400 and $800 per month for basic bookkeeping, excluding the benefits. For full time services, expect to pay from $3,000 to $4,500 per month without the benefits.
What Services Do Bookkeepers Provide? (And the Cost)
Along with considering the above factors when setting your pricing for bookkeeping services, you’ll also want to set up a pricing structure that works for you and your firm. Do your research ahead of time to find average rates for services in your state. If needed, make adjustments to your pricing to reflect costs in your locality or state. When setting your bookkeeping services prices, consider creating different tiers for the size of the client.
Depending on your industry, the size of your company, how many employees you have, and how long you’ve been operating, you may need more or less support. If you want your books to be taken care of without direct management by you, outsourcing is the way to go. Accountants maintain a wide range of skill sets, including managing spending and budgets, taxes, and analysis of What are the average Bookkeeping Rates & Fees for Small Businesses? financial statements. To be exceptional at these tasks, accountants must complete years of training and earn special certifications, which their salaries reflect. Depending on the type of accountant, years of experience, and certifications, you could be paying a pretty penny. As you can tell, how much you should charge as a bookkeeper can vary based on a lot of factors.