How Much Does A Bookkeeper Cost?

The cost of a bookkeeper can vary depending on a number of factors. They are the scale of your organization or business, monthly, weekly and daily transactions, number of employees, bills, invoices, and credit cards. Apart from these, your bookkeeping cost will also depend on things factors like accounting policies and procedures.

Every business will at some point need a bookkeeper to assess daily transactions, record expenses, receipts, bill clients, prepare financial statements, record income and verify deposits. Thus, you can choose from a full-time bookkeeper, a part-time bookkeeper, and an outsourced bookkeeper depending on your company.

Factors While Hiring Bookkeepers

Another important factor that comes to play while hiring and paying a bookkeeper is the duration of time you need them for. If your business is small and you simply need someone to help you out with some of the work, then hiring someone part-time is a good idea.

A part-time bookkeeper will come to your office once or twice a month and work for around fifteen to twenty hours a week. They will help with recording your invoices and receipts etc. On the other hand, if you want someone to take charge of all the accounts duties, you can hire a full-time bookkeeper.



A full-time bookkeeper will be expensive. You need to provide them with a table-chair, phone, health insurance, other benefits, and a yearly payment. Furthermore, you can also outsource the bookkeeping service on a project-to-project basis.

The charge of bookkeepers will vary depending on their level of expertise and years of experience. Moreover, it will also depend on the number of tasks you give them to help you out with.

A bookkeeper who does data entry and manages your company's excel sheet will charge between $10 - $15 per hour. Furthermore, a senior bookkeeper with accounting skills will charge between $25 - $35 an hour.

If you want to hire a bookkeeper and account, that will cost you around $50 - $60 an hour. These rates will depend on the complexity of your business and the effort they will put in.

Get free 1-Month online bookkeeping services from Professional Accounting Solutions, Inc, one of the best-reputed accounting Miami, USA-based firms.

Why Do You Need A Bookkeeper?

Many times clients scan their receipts on their smartphones and send them. This information gets categorized in different databases, and owners need to sort this out. Moreover, you need to analyze and manage different kinds of financial information.

All of this requires an expert bookkeeper who will record and sort out the reports and send them further to the accountant. Some questions like whether you need only profit and loss statements. And also tracking of income and expenses, vendor payments, monthly tax payments, salary payments, etc., will help you understand what you need a bookkeeper for.

Bookkeeping also helps you in setting a budget for your next quarter. When hiring a bookkeeper, you must ask yourself the following questions.

  • Are you hiring for a one-time project or daily accounting operations?
  • How long will your accounting operations last?
  • What services do you need from them?
  • What part of the bookkeeping would you continue to do on your own, and what part would you delegate to them?
  • Will they need any special access to a system to account?
  • What accounting skills are you looking for?
  • Are you looking for any software knowledge from the bookkeeper?

What Experience And Expertise Should The Bookkeeper Have Depending On The Cost?

Bookkeepers straight out of graduate school will charge less as they look for exposure and experience. Thus, if your budget is low and has a manageable workload, you can hire a fresher bookkeeper.

However, if your business grows rapidly and you need an experienced bookkeeper with additional accounting knowledge, you have to spend accordingly. At this level, a bookkeeper with over four years of experience in all the bookkeeping services will be worth it.

Many professional bookkeepers receive training in accounting services and have over ten years of experience under their belt. Moreover, some may have specialized field-related experience like law, finance, health, food, etc.

Conclusion 

If you are looking for professional bookkeepers with specialized expertise and long years of experience, they cost between $40,000 - $65,000 annually. Bookkeepers have experience recording your day-to-day expenses and audits and accounting and accounting and solving complex financial problems. Professional Accounting Solutions.Inc is one such service that offers all of the bookkeeping services at a fair price. 

Our firm strives to provide exceptional services, including online Bookkeeping, Catch up Bookkeeping, Accounting, Tax preparation, QuickBooks consulting etc.


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