Part-timers can expect to be paid about the same as freelancers. As this is one of the most costly options, it is perhaps best saved for businesses that truly need to have a need for a financial professional on their team. Firms offering outsourced bookkeeping services tend to also be flexible to make sure their solutions fit your specific needs. These firms specialize in bookkeeping and accounting, so their specialists will likely be more experienced and provide greater expertise than hiring an in-house bookkeeper.
Hiring a part-time bookkeeper at 20 hours per week at a rate of $17 dollars an hour (the high end of the average hourly cost cited above) will cost you $340 total for the week. Part-time bookkeepers typically perform smaller tasks like inputting receipts and keeping tabs on employee timesheets. Companies will often choose to train an existing employee or office manager to take on the extra responsibilities of a part-time bookkeeper.
They may be willing to pay a higher rate for bookkeepers who can do more work for them in less time. If you’re having trouble determining how much to charge a client, it’s perfectly fine to start out working with them bookkeeping services pricing at an hourly rate and moving to a fixed rate later on. At the beginning of your working relationship, there could be quite a bit of cleanup you have to do for the client’s books, and that can be time consuming.
Bookkeepers are in charge of maintaining your books closely day in and day out. They generally do all data entry into accounting ledgers or software. Partnering with Patriot earned this accountant a 50% cost savings from his previous provider, decreased his time running payroll, and more! So, don’t be afraid to boast about your experience while marketing your accounting firm. And, use it as a competitive advantage when it comes to pricing your offerings.
Bookkeeping Services Pricing – How are they calculated?
The main types of checks I write are reimbursement checks if the teacher buys supplies with her own money, or certain vendors will send invoices, and I will write a check for those. I’m trying to help my client get away from that by training them to use their debit card to pay for vendors rather than having them invoice for a paper check. Compare this with the industry standard of handing off your financial information to a third party and waiting weeks to see the report.
- Knowing the answers to these questions—and many others like them—is an essential part of owning and operating a successful business, no matter the size.
- The last task I do for the preschool is to categorize income, which doesn’t take all that long.
- To ensure you get the level of service you need and the value you were expecting, consider how different solutions calculate their bookkeeping prices, and what the fee includes before you sign up.
- No matter what payment schedule you choose, you should always send your invoices in a timely manner.
- For example, the appointment may have cost $300, the insurance covered $200 of the charge, which leaves $100 as the patient’s responsibility.