At an hourly rate $45 is probably a fair or even low rate. I personally prefer not to charge by the hour and set an agreed upon monthly rate. This way our clients are not stressed about a variable rate or feel like there’s ever a stopwatch on our professional relationship. Rates can run anywhere from $250-$1500 per month, but there are several factors that go into finding the right fit for everyone. Each business may have unique processes to take into consideration and while estimating how many hours per month is a factor, at Breathe Easy Bookkeeping we prefer a fixed rate and once a year we will revisit that rate to make sure the scope of work still fits the value. Hopefully this helps you both consider another angle to finding a great bookkeeper. Wishing both of your businesses the best!
Hi Jill, I find bookkeeping rates anywhere from $40-80/hour. I would just remind the client usually you get what you pay for. If it's a $20/hour bookkeeper, they're probably just entry level. My fees are between $40-50/hour depending on the client's needs and number of hours per month.
I don't bill hourly, so I can't speak to whether $45/hour is "typical" or not. It sounds like your client is thinking "employee" rather than "outsourced professional."
For any of you bookkeepers that do no do or don't like doing payroll. I would highly suggest you reach out to me and learn about my revenue share platform that we have. You can also reach out to Mary Charpentier from C4Word LLC if you want to get her perspective. We offer a great option for you to get paid with less work and your clients get great customer service at an affordable rate!
After 45 years in the recordkeeping industry, and after navigating the enormous changes in processing toward cloud-based/integrable/mobile app stacks, I've learned VALUE needs to replace HOURLY RATES. My knowledge and skill and experience outweigh any hourly price attributed to the services I provide. Yes, I've needed to prepare and educate my current clients toward understanding my value because "I know which screw to turn" (look up the story) versus how long it will take. And yes, there is plenty of room for the myriad of bookkeepers out there whose skills run from 0-100 and may choose to price by the hour. But I no longer fret over the speed (hours) of accomplishing tasks that used to take me much longer (and allowed me to charge more) and where I needed more and more work to make up the shortfall. I'm fine with fine-tuned initial vetting that sorts out clients who, after hearing my approach, would rather follow hourly pricing. (Good luck with unforeseen work [scope creep] that necessitates surprise high invoices or giving your time away to keep the client happy.)
Mark Wickersham is my go-to guy for helping me learn price psychology and best presentations of menu pricing. Can't recommend him and this approach loudly enough -- it's been a huge game changer for this old bean counter!
As everyone said - it depends on where you are as well as experience. Almost all of my clients are value priced but when I do quote a flat fee, it's between $125 & 175. I also have almost 40 years experience
I own a virtual bookkeeping business and for my clients I charge a monthly rate. The rate I charge depends on the services they need for their business to run smoothly. My packages run $299 a month to $699 a month. In certain situations I will charge an hourly rate of $55.00. I think monthly rates are more beneficial financially for most clients. As is hiring a virtual bookkeeping versus an in-house bookkeeper. A virtual bookkeeper might charge more, but the business owner does not provide office space or benefits including, healthcare, time off, social security.
I have old clients that I can't raise the rates for, as they aren't doing enough business to warrant it and I would lose them. I should be charging $40 - $50 per hour in this area, however, even with my expertise and 33 years of experience, I'm still only getting $25 from some and $30 from others. My new clients are coming in at $40. I need to find more quality clients.
Is the client in an urban, suburban or rural area? This can have an effect on rates. That said, if the bookkeeper has at least 10 years of experience, this is low, especially if they do all the reconciling and adjusting entries, and produce the financials for the tax preparer.
The client can expect to pay anywhere from $45 to $75 an hour depending on the experience, education, and certifications held by the bookkeeper. Bookkeepers working for accounting firms are charged out at $60 to $125 per hour.
The client should keep in mind, if he hires based on price alone, he *will* get what he pays for. A good bookkeeper can help keep his accounting fees low by taking on some of the tasks normally done by accountants (at $125 an hour, and more), reducing the number of errors in the books that need correcting, and keeping on top of the minutae.
In my opinion, $45 an hour is a bargain for a good bookkeeper.
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Answers (1-10)
At an hourly rate $45 is probably a fair or even low rate. I personally prefer not to charge by the hour and set an agreed upon monthly rate. This way our clients are not stressed about a variable rate or feel like there’s ever a stopwatch on our professional relationship. Rates can run anywhere from $250-$1500 per month, but there are several factors that go into finding the right fit for everyone. Each business may have unique processes to take into consideration and while estimating how many hours per month is a factor, at Breathe Easy Bookkeeping we prefer a fixed rate and once a year we will revisit that rate to make sure the scope of work still fits the value. Hopefully this helps you both consider another angle to finding a great bookkeeper. Wishing both of your businesses the best!
Hi Jill, I find bookkeeping rates anywhere from $40-80/hour. I would just remind the client usually you get what you pay for. If it's a $20/hour bookkeeper, they're probably just entry level. My fees are between $40-50/hour depending on the client's needs and number of hours per month.
I don't bill hourly, so I can't speak to whether $45/hour is "typical" or not. It sounds like your client is thinking "employee" rather than "outsourced professional."
For any of you bookkeepers that do no do or don't like doing payroll. I would highly suggest you reach out to me and learn about my revenue share platform that we have. You can also reach out to Mary Charpentier from C4Word LLC if you want to get her perspective. We offer a great option for you to get paid with less work and your clients get great customer service at an affordable rate!
After 45 years in the recordkeeping industry, and after navigating the enormous changes in processing toward cloud-based/integrable/mobile app stacks, I've learned VALUE needs to replace HOURLY RATES. My knowledge and skill and experience outweigh any hourly price attributed to the services I provide. Yes, I've needed to prepare and educate my current clients toward understanding my value because "I know which screw to turn" (look up the story) versus how long it will take. And yes, there is plenty of room for the myriad of bookkeepers out there whose skills run from 0-100 and may choose to price by the hour. But I no longer fret over the speed (hours) of accomplishing tasks that used to take me much longer (and allowed me to charge more) and where I needed more and more work to make up the shortfall. I'm fine with fine-tuned initial vetting that sorts out clients who, after hearing my approach, would rather follow hourly pricing. (Good luck with unforeseen work [scope creep] that necessitates surprise high invoices or giving your time away to keep the client happy.)
Mark Wickersham is my go-to guy for helping me learn price psychology and best presentations of menu pricing. Can't recommend him and this approach loudly enough -- it's been a huge game changer for this old bean counter!
As everyone said - it depends on where you are as well as experience. Almost all of my clients are value priced but when I do quote a flat fee, it's between $125 & 175. I also have almost 40 years experience
I own a virtual bookkeeping business and for my clients I charge a monthly rate. The rate I charge depends on the services they need for their business to run smoothly. My packages run $299 a month to $699 a month. In certain situations I will charge an hourly rate of $55.00. I think monthly rates are more beneficial financially for most clients. As is hiring a virtual bookkeeping versus an in-house bookkeeper. A virtual bookkeeper might charge more, but the business owner does not provide office space or benefits including, healthcare, time off, social security.
I have old clients that I can't raise the rates for, as they aren't doing enough business to warrant it and I would lose them. I should be charging $40 - $50 per hour in this area, however, even with my expertise and 33 years of experience, I'm still only getting $25 from some and $30 from others. My new clients are coming in at $40. I need to find more quality clients.
$40.00-150.00 per hour
Is the client in an urban, suburban or rural area? This can have an effect on rates. That said, if the bookkeeper has at least 10 years of experience, this is low, especially if they do all the reconciling and adjusting entries, and produce the financials for the tax preparer.
The client can expect to pay anywhere from $45 to $75 an hour depending on the experience, education, and certifications held by the bookkeeper. Bookkeepers working for accounting firms are charged out at $60 to $125 per hour.
The client should keep in mind, if he hires based on price alone, he *will* get what he pays for. A good bookkeeper can help keep his accounting fees low by taking on some of the tasks normally done by accountants (at $125 an hour, and more), reducing the number of errors in the books that need correcting, and keeping on top of the minutae.
In my opinion, $45 an hour is a bargain for a good bookkeeper.