Bookkeeping Pricing Packages & Plans Bench Accounting

So, you need to take your time when setting prices for your services. 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. The accounting software used can impact the price of the service. Maybe the freelancer is experienced in a single software and charges a lower rate for it. You can also find experts in numerous accounting software that charge more.

With online bookkeeping services and real human support, Bench is the expert financial solution your business deserves. We’re as reliable as the Mission Control Center, so you can focus on growing your business. The purpose of bookkeeping is to review your https://www.bookstime.com/articles/how-much-does-bookkeeping-cost financial statements and make profitable business decisions. In essence, it provides the financial insight necessary to grow your business. With up to date bookkeeping, you will be prepared to make well informed business decisions and have tax preparation.

Here’s when you really can’t afford a bookkeeper

While it might intimidating to get started with the bookkeeping for your business, it is possible with the right software to ensure your financial data is accurate and up-to-date. With that in mind, let’s talk about what monthly bookkeeping involves and why it is so critical to the long-term success of your business. As a business owner who specializes in a non-accounting product or service, it’s easy to get lost in recording transactions or overlook an item when doing data entry. We are experienced bookkeepers, accountants, tax experts and CPAs who use our skills to make your life easier every single day. You no longer need to worry about learning technical accounting concepts or how you need to record expenses, because we are more than just a bookkeeping firm. Running a small business is a big job and you may not have the time or experience to manage your own books.

If your books are more complex than initially estimated, or if unexpected issues arise in your books that need extra attention, your monthly bookkeeping cost might spike considerably. So you now have an idea what to expect to pay for an in-house bookkeeper’s salary, with some caveats. Hourly wages/salary costs, however are not the full story for an in-house hire. That said, being outside a major metro doesn’t necessarily mean low salaries. Rural bookkeepers can sometimes charge a premium, because there are fewer local providers with their skills and expertise.

Costs for bookkeepers vs. accountants vs. CPAs

Though you must be willing to make changes if it isn’t working for you—even if that means having tough conversations with clients. 58% of accountants said updating technology has improved efficiency and productivity, which is vital for creating space to add the services that clients demand. When implementing fixed-fee or value-based billing, it’s easy to under or overestimate the time it will take you to complete a task. Having an open dialogue with clients about this when you’re first signing them can be a good idea to pre-empt adjustments down the line. Bookkeepers, especially new businesses (the ones who don’t have to make the sometimes messy transition to another pricing model), should avoid hourly billing for that reason.