How Much Does a Bookkeeper Really Cost? A 2025 Pricing Guide for Small Businesses

During peak months, it could take many billable hours to make sure everything is properly categorized, reconciled, and entered into your accounting software. In practical terms, this means that you’ll be paying more for traditional accounting services during the months when you most need a break. Perhaps the most cost-efficient option for bookkeeping for a small business is hiring a third-party firm that specializes in outsourced bookkeeping solutions. There is a number of key advantages to outsourcing your bookkeeping, including lesser costs, greater value for every dollar spent, and other tangible business-related factors. The average salary for a bookkeeper in the United States in 2018 is around $14-$17 per hour (per Indeed) which is about $2,400 to $3,000 per month.

• Regular reviews, reconciliations, and using software with checks can help keep your bookkeeping trustworthy and up to date.
• If you’re not there already, it’s worth upskilling to get to that point, as you’ll be able to justify higher pricing packages.
• This way, you only pay for completing the financial tasks as needed.
• To get the most out of outsourcing, choose a partner with experience in your industry.
• See details about Atomic Brokerage in their Form CRS, General Disclosures, fee schedule, and FINRA’s BrokerCheck.

Experience, certifications, and additional services

Keeping your books in order and up-to-date is the foundation of the financial strength of your business. Hiring a full-time bookkeeper in this situation could be the right answer for you. The real cost of not having a bookkeeper can be much higher than their monthly fee – just ask anyone who’s faced an IRS audit or had to hire an accountant for an emergency rescue mission. Many businesses rely on FreshBooks because of their flexible, trustworthy, and versatile system.

What does an accountant do?

There is a fine line between overcharging and undercharging, but the sweet spot does exist and you’ll know when you find it, because your clients will be happy, and so will you. Price anchoring is a strategy that plays on a buyer’s tendency to inherently compare information. So, when people see your pricing options, one of the things they’ll first notice is that your top-tier option is higher than your mid- and low-tier plans, and they’ll use that as an anchor. Most people don’t want the most expensive option, but they also feel dissatisfied with selecting the base option because it lacks certain features.

Finding the right bookkeeping service is about finding a partner who will deliver a return far greater than their monthly fee. When you’re ready to trade anxiety for clarity and buy back your time, we’re here to help. Reach out for a custom quote, and let’s build a stronger, more profitable financial foundation for your business together. Complexity & Number of Accounts How many financial accounts need to be reconciled each month? This includes every business bank account, savings account, credit card, and line of credit.

Regular reviews, reconciliations, and using software with checks can help keep your bookkeeping trustworthy and up to date. Extras like budgeting support or tax filing will increase your total cost. Some automation tools can lower ongoing fees but may require upfront investment. The more expensive plans come with additional features including inventory tracking, customized financial reporting, payroll, and others. They focus on recording the financial transactions of a business through maintaining records, tracking transactions, and creating financial reports. Get practical business tips, smart bookkeeping hacks, and the occasional bit of financial ‘tea’ – straight to your inbox every week.

Cloud-based bookkeeping lets you access your financial data anytime, anywhere, and often allows real-time updates. It can be easier to collaborate with your bookkeeper or accountant, reduce errors, and improve security compared to manual bookkeeping. You’ll also learn how virtual CFO services can add strategic value beyond simple bookkeeping, helping you make smarter financial decisions. If you have questions about bookkeeping software or how to integrate it with your current systems, Fintrae can guide you through that too. Because Fintrae operates with a remote-first model, their services save you both time and money without sacrificing quality.

Here, the fee is determined by the perceived value or economic benefit the services provide to the client, rather than solely by time spent or tasks performed. This approach aligns the bookkeeper’s compensation with the tangible results achieved for the business. Some bookkeepers use a per-transaction pricing model, charging a set amount for each financial transaction processed. This can be an effective method for businesses with high transaction volumes, as costs scale directly with activity. This eliminates the need for interviewing and taking a chance on an individual who might end up being poorly-equipped to handle key finance-related activities at a company. Another key benefit to outsourcing bookkeeping to a professional CPA firm is the level of expertise received.

Tiered pricing is a variation of flat monthly fees, offering different service packages at various price points. These tiers, often labeled as basic, standard, and premium, include escalating levels of services and support. For example, an entry-level package covers basic data entry and simple financial reports, while a mid-range package adds advanced analysis and payroll management. This allows businesses to choose a package that aligns with their current needs and scale up as their business grows or its financial complexities increase. Factors such as multiple income streams, inventory management, e-commerce integration, or operating across several states can introduce intricate accounting needs.

• The professional services accounting software used can impact the price of the service.
• One common approach is charging hourly rates, which can range from $11 to $100 per hour, depending on the bookkeeper’s experience and task complexity.
• Based on specialist research, the median hourly wage for bookkeepers across the USA  (as of April 2021) is $21.
• However, the company owner knows that the freelance bookkeeper will pull out all the stops to find the problem and fix it, so must live with the higher price.
• Advisory services, such as recommendations for accounting software improvements or process efficiencies, are part of this comprehensive offering, providing strategic guidance.

The first step in understanding cost is how much do bookkeeping services for small businesses cost to understand how bookkeepers charge for their services. There’s no disputing that hiring an outsourced bookkeeper has many advantages. The obvious one being that a business at any level needs the services of a professional bookkeeper to run the day-to-day tasks in a typical finance office.

Finding someone with experience in your industry will help ensure they can hit the ground running and won’t need much time to learn your business’s financials. You’re essentially gaining access to a team of professionals without the overhead of hiring full-time staff. Accurate bookkeeping means your records match your bank statements and financial documents without errors.