![]() Prepare basic reports (P&L, balance sheet).Reconcile bank account (balance the “checkbook”).Here are some examples of common services bookkeepers provide. These professionals do a lot of different things, but not every bookkeeper does every service, or they may charge extra for specific tasks. What Services Do Bookkeepers Provide? (And the Cost)īefore you decide to hire a bookkeeper, you may be wondering what services you’ll be paying for. Average Cost for Freelance Bookkeeper Average Hourly Rate If your freelancer is highly educated and has more certifications, you should expect them to charge more than someone with fewer credentials. Your geographic location can also impact the cost. ![]() The amount of work and nature of your business may also impact the rates. Hiring a freelance bookkeeper typically costs between $25 and $45 per hour, depending on their skill level and the services they provide. You will also be in a better position to outsource more advanced management accounting and controller. In most cases, working out a set rate is best and makes it easier for your budget.Ī key benefit of outsourcing is that it allows you to customize the services you receive to your specific bookkeeping needs. Outsourcing may require paying an hourly rate for the professional’s work, or you may decide an agreed-upon set monthly rate for the services. While it’s still outsourcing, hiring a freelancer is much like hiring an employee for in-house services, but you don’t have to pay for any benefits or added costs aside from the cost of the services. Or you may want to go with a large firm that takes on a high volume of clients for a lower rate.Īnother option is to hire a freelancer. You have a few different options for outsourcing, too.įor example, there are smaller, independent bookkeepers that specialize in certain services or business types. Like many other services, it’s often cheaper to outsource bookkeeping to a professional rather than hire an employee to do the job in-house. Outsourcing bookkeeping services typically cost between $300 and $5,000 per month (or more), depending on the size of your business and the specific services they provide. How Much Does it Cost to Outsource Bookkeeping Services? ![]() There are plenty of options out there to find a bookkeeping package that will meet your needs no matter how big or small your business is. If you only have a few employees and don’t do a lot of transactions or have hundreds of invoices to go through, you should be able to get by with part-time help.īy the time your business reaches the size where you may want to consider a full-time bookkeeper, you may find that your best bet is to outsource to a firm or larger company. The good news for most small businesses is that they don’t need full-time bookkeeping services. That can mean tens of thousands of dollars in insurance, paid time off, and other employee benefits you’ll have to pay for. You’ll also have to consider the cost of benefits if you hire a full-time employee to do your bookkeeping. Hourly Rates In the Different StatesĬost for In-House Bookkeeping (not including benefits) Part-Time Bookkeeper (60 – 96 hours per month)įull-Time Bookkeeper (160 hours per month) The average hourly rate for bookkeeping is between $18 and $25 per hour, depending on the exact services provided and the bookkeeper’s skill level or experience. In today’s remote work, many companies hire bookkeeping services in states like Florida, which have no income tax and lower cost of living. While part-time bookkeepers would earn around $2000 per month on average. On average, hiring a full-time bookkeeper will cost around $5000 a month or $60,000 per year. ![]() For example, a small business with fewer clients and transactions will normally cost less than services for a large business with more to keep track of. ![]() Your business will also influence how much these services cost. The bookkeeper’s exact services will also impact the cost, along with how experienced the bookkeeper is and their reputation. This would cost less than hiring a full-time bookkeeper, but you should also expect fewer services. For one, you may choose to have someone provide services on a part-time basis. Professional bookkeeping services can be expensive, but the cost depends on a few different factors. ![]()
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