How Much Do Bookkeeping Services for Small Businesses Cost?

The more experienced the bookkeeper, the more confident they are with their skills. As a result, they come with a higher monthly cost for business owners. FreshBooks is an invoicing and accounting software for small businesses.

In this example, doing your own bookkeeping is more expensive than hiring a professional —  and a lot more expensive than using Keeper. It’s a better idea to have someone do it for you, since your time is more valuable elsewhere. So let’s break down the various bookkeeping options, who how much does bookkeeping cost they’re best for, and how much you’re likely to spend on them. The costs a small business or nonprofit incurs for bookkeeping will depend upon many variables. But, with growth comes an increased responsibility for your back office, and your bookkeeper might need help keeping up.

How Much Does A Bookkeeper Cost For A Small Business?

They usually just specialize in bookkeeping, but will sometimes offer tax compliance and other accounting services as well. GrowthForce can serve as your outsourced advanced bookkeeping and accounting department. How much a bookkeeper costs also depends on the payment arrangement. You’ll usually pay for bookkeeping services in one of the three ways—hourly, salary, or a flat fee. That can be a huge time saver for business owners versus processing payroll themselves.

Depending on what kinds of services your bookkeeper provides, they may be able to issue and process paychecks or direct deposits and make tax payments (withholding) on behalf of your employees. To make things more complicated, a freelancer, small business, bookkeeping firm, or an accounting firm will offer different average rates for bookkeeping services. The average hourly rate for freelance bookkeepers ranges from $26.91 to $43.57.

Hire an All-in-One Bookkeeping Service

A full charge bookkeeper takes care of the usual bookkeeping service but also handles some accounting duties. Think of this bookkeeping service as a mix between traditional accounting and bookkeeping. The number of tasks you assign to them directly impacts the price of each bookkeeping service. Freelance bookkeepers often come from different backgrounds, but this doesn’t mean they necessarily offer lower prices for their services.

In most cases, working out a set rate is best and makes it easier for your budget. A strong alternative to hourly billing is fixed-rate (or flat-fee). It means you set a fee for each service you offer and provide clients with a ‘menu’ of sorts, with corresponding prices.