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How much are you paying for bookkeeping services

    • 1 posts
    May 23, 2012 11:37 PM EDT

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    • 3 posts
    September 18, 2011 6:40 AM EDT

    I am just wondering, how much are you paying, or willing to pay for good bookkeeping and tax filing services?  Do you expect bookkeeping services to include inventory tracking and generate other reports for management also? 

    My company nature is accounting and bookkeeping, so it became that way.  And I can't seem to ever get the pricing right!  I used to work in one of the big 4 accounting firm as a senior consultant mainly in business intelligent and data managment type of thing.  Not a CA, not particularly like doing bookkeeping netiher. 

    Anyhow, I made a big leap of faith, quit my job and open my own consultant firm in 2005 bring along one large client contract, I was an independent contractor.  I wrote a couple of blogs articles in 2007, and I guess a few catches the crowd so the start coming to me for bookkeeping and accounting stuff.  I needed money, so I take on anything and everything and get myself certified in Quickbooks.   

    I originally charged a fix cost of 199 per month bookkeeping for small business, I hired a few bookkeeper but none of them turns out.  Spend a lot of time training them, but still some of the more complicated stuff and trying to teach them to understand the client's business is a nightmare.  I guess I myself expected more from them, it requires much more time and effort to make sure everything is correct and accurate than just data entry income and expenses.  But with the price, I cannot find someone who can really up to the standard.  I decided to raise the price, to 45 per hour or 250 a month fix costs. Well, I am not getting new customers, existing customers already voiced their concern about price increase. 

    Economy as everybody know take a nose dive, and my large company contract also go with the economy.   I have to layoff my staffs, mind you I only have 3.  Now I am doing everything myself. 

    So, I am very interested to see what your take in terms of how much are you willing to pay for bookkeeping and accounting services?

     

    • 4 posts
    May 9, 2012 3:17 PM EDT

     

    I think it depends really, on how large your company is. Some companies even hire their own book keeper. 



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    This is pretty much the answer. When you hire bookkeepers for a large company, the pay is higher. When you outsource the bookkeeping task to virtual bookkeepers like these staff, the pay is relatively lower. Sometimes, it can even go as low as $5/hour.

    • 2 posts
    May 30, 2012 12:24 AM EDT

    We provide bookkeeping services to small business clients in the UK. I'd guess that the setup is fairly similar to in the USA.

    We do find it difficult to recruit good calibre bookkeepers who have good customer skills as well as the solid bookkeeping and accounting knowledge and experience needed.

    We advertise for bookkeepers, pick the ones who look the best on paper and then interview them. We then pick the best from the people we interview and follow up on references from some of their previous clients.

    It takes a while but there are good people out there if you look hard enough.

    Finding good quality regular clients is of course also never easy. We focus on optimising our websites and spending money on online campaigns as well as getting referrals from existing customers. It works for us.

    We are based in London which has a big market and I think it could be more difficult if we were in a location with fewer businesses.

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    • 54 posts
    September 18, 2011 4:57 PM EDT

    I think it depends really, on how large your company is. Some companies even hire their own book keeper. 

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