![]() ![]() If your business produces a large amount of complex transactions, hiring an in-house professional might seem like an easy solution. That might not seem like much, but that’s over 100 working hours a year that could be better spent on your business. Recent reports estimate that small- and mid-sized businesses spend roughly 5% of their time on administrative tasks like bookkeeping and accounting. While this option can save you money-you don’t need to hire someone else-bookkeeping takes up valuable time. If you’re a small business owner who is great with numbers, spreadsheets, and organization, doing your own bookkeeping may be an option. When it comes to procuring a bookkeeper, there are several different options you can choose from, and each comes with its own pricing structure. For example, if you’re searching online for “bookkeeping price packages Canada,” you’ll find very different rates for services located in Toronto and Montreal than you would for services headquartered in small towns like Leduc, Alberta or Midland, Ontario. This is the same in countries outside the United States, too. It’s also important to keep in mind that these numbers are averages that take into account part-timers, full-timers, freelancers, and all levels of experience. Understanding costs associated with bookkeeping where you’re located can help you put pricing into perspective. However, in Washington D.C., the same bookkeeper could expect to make $27.86 an hour. In rural Kansas, hourly bookkeepers can expect to make about $16.29 an hour. ![]() Like everything else, the cost of bookkeeping can vary based on where the company is located. If your prospects have any of these certifications, you’ll pay more-but you can expect higher-quality results. There are three main types of certifications available to bookkeepers: the National Association of Certified Public Bookkeepers, the American Institute of Professional Bookkeepers, and the QuickBooks ProAdvisor Certification. In addition to experience, the more qualified a bookkeeper is, the more likely they are to charge more for their services. You can expect to pay more for someone who has 10 years of experience over one year. Experience Level and QualificationsĮxperience and qualifications matter. Let’s explore some of the factors that go into the costs of bookkeeping. So, if you do the math, most small- and mid-sized businesses can expect to pay between $250 – $1,500 per month. And, based on the services you require, you’ll probably need at least 5-15 hours per month worth of bookkeeping. On average, small business owners can expect to pay between $50-100 per hour for bookkeeping services, depending upon many factors. How Much Does it Cost to Outsource Bookkeeping? When it comes down to it, the right bookkeeper will help you decide which tasks it makes sense for them to take on, including: Additionally, some small business owners may decide to take on some of these tasks-like payroll or data entry-themselves. It is important to keep in mind that you may or may not need all of the following services, depending upon the size of your business and the complexity of your financial models. List of Bookkeeping Servicesīefore we jump into bookkeeping rates, let’s discuss the list of common accounting and bookkeeping services available for businesses. In addition to this, we’ll explore other factors-such as location and the complexity of services-and how they impact pricing, too. This article will dive into outsourced bookkeeping rates, including how much you can expect to pay based on what kinds of services you need and the type of provider you choose to work with. What is the average cost of outsourced bookkeeping, and what kind of bookkeeping rates per hour can you expect to pay? Unfortunately, it’s not as simple as just searching “bookkeeping rates 2020” or “independent bookkeeper rates 2021.” There are many factors that weigh into the costs of bookkeeping. Utilizing a outsourced accounting or bookkeeping service can provide much-needed financial information to inform the day-to-day operations of your business, But the question of rates or expensive price tags can keep you from the service your business really needs. When it comes down to it, if you’re looking for someone to handle basic day-to-day accounting tasks for your small or mid-sized business, outsourced bookkeeping may be the right option for you. From selecting the services you need to choosing the right provider, the options are nearly endless. We know that accounting services can feel overwhelming. Do you know how much revenue your business has made this month? Do you know how much of that revenue has been collected? Do you have any outstanding bills that need to be paid? 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. ![]()
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