What Should A Bookkeeper Cost?

And what are you really paying for?

If you've ever thought about hiring a bookkeeper, you've probably discovered that it can be a challenge to find out what it actually costs.

Some freelancers charge as little as $20

0 a month. Others, including CPA firms and accountants charge $1,500 or more. And everyone seems to offer something a little different.

How do you know what's reasonable for your business?

The short answer is that the cost of bookkeeping depends on what your business needs, but the lowest price isn't necessarily the best value.

What does bookkeeping typically costs?

For small businesses, professional outsourced bookkeeping usually falls somewhere between $300 and $1,500, although businesses with more complex needs may pay considerably more.

Why such a wide range? Well.. no two busineses (or business owners) are exactly alike!

A consultant with one bank account and 40 similar transactions a month has very different needs from a company managing multiple jobs, employees, client invoices, vendor payments, etc.

Both need accurate records, but the time, experience, and attention required from your bookkeeper are very different.

What affects the price?

• Volume - more transactions = more work

• Number of accounts - Every bank account, credit card and loan needs to be reconciled

• Payroll and Sales Tax - These add another level of responsibility and complexity

• Accounts receivable/payable - Managing clients, vendors, invoices, bills, etc. goes beyond basic transaction categorization.

• Starting point - Are you books already clean, or will your bookkeeper need to bring them up to date?

• Support - Some owners just want accurate reports. Others want a knowledgable professional they can call when questions arise.

What should you expect from a good bookkeeper?

Your bookkeeper should provide consistent timely accurate reports, reconciled accounts, be able to identify and bring discrepancies to your attention for clarification, and be willing to answer your questions.

If you've included Payroll/Sales Tax/AR/AP responsibilities, your bookkeeper should consistently and timely invoice your clients, follow up on payments, pay your bills, etc. (You want a dependable professional invoicing your clients!)

Is inexpensive bookkeeping a bargain?

Sometimes! A very small business with straightforward needs may be perfectly fine with a brand new inexperienced bookkeeper or a very basic service.

But it's important to understand that a low monthly fee can become expensive if errors accumulate and require costly cleanup later.

What does BlancoDev Bookkeeping charge?

At BlancoDev Bookkeeping, I believe in providing personal service at a fair, predictable price.

Most established businesses invest $750 - $1,500 per month depending on the complexity of the business and the level of support they need. Businesses with more extensive administrative or accounting needs may require a customized quote.

The question though isn't just what does bookkeeping cost, but what is good bookkeeping worth!

Accurate, timely financial information helps you make informed decisions, prepare for tax season, understand profitability, and identify potential problems before they become expensive ones.

It can also give you back something you can't easily put a price on: your time and peace of mind.

If you've been wondering whether it's time to hire a bookkeeper, I'd be happy to have a conversation about your business, what you're currently doing, and where you might benefit from some help.