Does your business need a bookkeeper? That comes at a cost!
When you’re looking for someone to take care of your company’s bookkeeping, you’ll quickly find that there is no one-size-fits-all answer to the cost question. The cost of bookkeeping services can vary widely depending on the size and complexity of your business, as well as the level of service you require.
That said, there are some general cost ranges you can expect to pay for different types of bookkeeping services. In this article, we’ll take a look at the cost of bookkeeping services and all relating factors.
Let’s crunch the numbers!
What Is the Average Cost of Bookkeeping Services?
The cost of bookkeeping services can vary widely, but on average, you can expect to pay around $50-$75 per hour for a full-time bookkeeper. If you’re outsourcing your bookkeeping, the cost will be lower, typically around $25-$35 per hour.
Keep in mind that these are just averages, and the cost of bookkeeping services may be higher or lower depending on your specific needs. For example, if you need a lot of help setting up and maintaining your accounting system, you’ll likely pay more than someone who only needs assistance with monthly financial reports.
What Factors Can Affect the Hiring Costs?
There are several factors that can affect the cost of hiring a Quickbooks bookkeeper including:
- The size and complexity of your business
- The level of service you need
- Whether you’re hiring a full-time or outsourced bookkeeper
Here are a few specific things to keep in mind when budgeting for bookkeeping services:
- If you have a lot of accounting and bookkeeping tasks to outsource, the cost will be higher than if you only need help with monthly financial reports.
- Businesses with more complex finances may also pay more for bookkeeping services, as there is more work involved in accurately recording and managing all transactions.
On the other hand, businesses with simple finances may be able to get away with paying a lower rate for outsourced bookkeeping services.
The cost of hiring a full-time bookkeeper is typically higher than outsourcing your bookkeeping, but it may be more cost-effective in the long run if you have a lot of accounting work to be done.
How Much Can You Save by Outsourcing?
The cost savings from outsourcing your bookkeeping can be significant. By hiring an outside firm or individual to take care of your books, you can save up to 50% on the cost of a full-time employee.
Keep in mind that not all outsourced bookkeepers are created equal. Make sure to do your research and compare quotes before choosing someone to work with. But overall, outsourcing your bookkeeping is a cost-effective way to get the help you need without breaking the bank.
Tips for Finding the Best Outsourced Bookkeeping Services
To recap, when looking for outsourced bookkeeping services, here are a few things to keep in mind:
- Check the provider’s qualifications.
- Get quotes from multiple providers.
- Talk to other businesses that have used outsourced bookkeeping services and ask them about their experience.
Lastly, make sure the provider has a good reputation. Check online reviews and testimonials to see what others have said about the provider’s work.
Learn More About Bookkeeping Services
As you can see, the cost of bookkeeping services can vary depending on a lot of different factors. This information should give you a gist of how much you’ll spend when requesting basic bookkeeping services.
Do you want to learn more about bookkeeping? If so, check out our blog for more helpful articles.