If you’re a small-to-medium business, the thought of hiring a bookkeeper seems lofty at best, and decadently impossible at worst. A good bookkeeper has the skills and knowledge to track all expenses correctly and thoroughly. This means they’re assisting you in taking advantage of all possible tax deductions and tracking everything correctly to avoid IRS fines at tax time. Allow Countick to get your books up to IRS standards and off your to-do list.
You’ll save money on your taxes
Depending on how much work you have and how long you need services, a contracted worker might be a better option. Bookkeepers have a wide variety of skills, so one of the factors you need to consider is what you need them for. If it’s basic client billing and documentation, a good solution may be accounting software that can assist you if you still want to play a more hands-on role. There are two main types of bookkeeping to be aware of when deciding what type of bookkeeper to hire. These include basic and full-service bookkeeping, where the decision largely depends on your business goals and needs. Additionally, a bookkeeper may work with an accountant, who is responsible for more advanced tasks such as assessing the health of a business or generating financial statements.
- You’ll know the work is accurate, and your numbers will be in balance when your bookkeeper takes care of it.
- I work a maximum of 10 hours per month on this particular client’s books, and charge $500 a month, which still comes out to be roughly $50 an hour.
- At Xendoo, finding the perfect flat fee plan is easy, so you aren’t paying more for the specific things you need.
- It might make sense for a large business with complex bookkeeping needs year-round to have an in-house bookkeeper.
How Will a Bookkeeper Save Me Money?
The national average salary for bookkeepers in the United States is $42,488 per year. To help pay the bills, we’ll often (but not always) set up affiliate relationships with the top providers after selecting our favorites. There are plenty of high-paying companies we’ve turned down because we didn’t like their product. Managing the finances of a business can be complex and time-consuming and, honestly, just too much if you’re not mathematically inclined. To illustrate what a small client looks like, I’ll be using a preschool I do bookkeeping for that generates about $150k in revenue a year.
Do I have to forecast my business’ cash flow?
Outsourcing can provide advanced and less costly bookkeeping service than a typical in-house bookkeeper. If you can manage your job and some of the accounting each month but need a little extra help, a part-time bookkeeper might be a good fit for your business. They can do work such as inputting receipts and tracking employee timesheets, accounts receivable and accounts payable. When hiring a part-time bookkeeper, management still needs to have someone reviewing the work of the bookkeeper.
How Much Does A Bookkeeper Cost For A Small Business?
Although not a crucial factor, it’s important to ensure the bookkeeper has experience working with software that you find convenient. We offer a supportive work environment with a Monday through Friday schedule, even during peak times, to ensure a balanced lifestyle. https://www.bookstime.com/articles/credit-memo Our office is conveniently located on the North end of Fort Lauderdale near I-95. Our organization operates within the financial technology sector with a team of compassionate, self-caring individuals who prioritize personal growth and collective success.
Basic Bookkeeping Costs
To get an accurate estimate of the cost for your particular situation, it is best to compare rates from local professionals. I tried using bill.com with this particular client, but I actually didn’t really how much does bookkeeping cost find it as helpful as I would have hoped. I often just use the bill pay directly through the bank with this client, as it’s relatively easy to do, and many banks will do that service for free.
questions to ask yourself before hiring a bookkeeper
- Consider working with an accounting firm or professional association if you want access to experienced professionals who can help you manage your finances properly and efficiently.
- Hourly pricing is a great option when you only need help with the books occasionally.
- For example, a client with about $500k in revenue, she would charge $650 a month as a bookkeeper.
- 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.
- Besides freeing up your time to grow your business, a bookkeeper can also save you money in other ways.
In general, bookkeeping services include managing all aspects of accounts payable (A/P) and accounts receivable (A/R), reconciling bank and credit card accounts, and generating monthly financial reports. If you have the expertise, you could increase your billable rate by offering payroll in addition to bookkeeping services. Now that you know the answer to the question “How much does a bookkeeper cost? You may also consider using online bookkeeping services and accounting software to save time and money, all while meeting your bookkeeping needs. Some bookkeepers or bookkeeping services can take on a range of other accounting responsibilities as well.
