Full-service bookkeeping is everything you’d find in basic bookkeeping with additional accounting services and financial statement analysis. To illustrate what a large client looks like, I’ll be using a physical therapist office I do bookkeeping for that generates about $1.2 million in revenue a year. This office employs 10 speech pathologists and general staff and circulates child clients who come in for their services. This task probably takes me a couple hours per month to complete.

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But, this cost can vary based on additional factors such as your bookkeeping needs and where you run your business. The template is divided into seven sections, and includes critical details for each step. When implementing fixed-fee or value-based billing, it’s easy to under or overestimate the time it will take you to complete a task.

Education Level

What is the difference between small, medium, and large client accounts for bookkeepers? Let’s break down the different how to calculate monthly accrued interest sizes to their revenue, employee numbers and other key metrics. Then we will compare this to the fixed-rate monthly pricing I charge for bookkeeping services along with the bookkeeping tasks I do for each one.

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A higher plan may include several hours of monthly phone support, account payable collections, and coordination with a tax preparer at year-end. Now that you know the answer to the question “How much does a bookkeeper cost? You may also consider using online bookkeeping services and accounting software to save time and money, all while meeting your bookkeeping needs. Large clients are where you can truly showcase your skills and expertise.

What is a Small Client?

For example, a Certified Public Accountant (CPA) is paid more than a traditional accountant due to having to meet higher education and licensing requirements depending on their state. Sales, production, and employee retention are all extremely important. And while it may not be the most glamorous topic, bookkeeping also plays a part. There are many aspects of being a business owner that drive success. Ian discussers the phases of transitioning to value pricing (setup, implementation, and execution) and walks you through the process in ten proven steps. For example, tools like Dext allow you to pull and small business bookkeeping basics digitize data from paper invoices to cut down on data entry.

1. In general, value pricing is a more profitable method for businesses.
2. Each has its pros and cons, and understanding them can greatly affect how you run your bookkeeping firm.
3. Small business bookkeepers have a few simple responsibilities.
4. Use the right tools, refine your skills, and let your clients see the value you offer beyond the numbers.
5. Hopefully, you now have a better idea of what bookkeeping services you can afford and which services come with a lower or higher bookkeeper cost.

You can use different programs to get electronic copies of their bills, or they can be emailed to you if there isn’t anything confidential on the bill. Value pricing and bundling is an obvious strategy to boost your bottom line. The challenge though, can be persuading your clients to agree to it. There is a fine line between overcharging and undercharging, but the sweet spot does budgeted revenue exist and you’ll know when you find it, because your clients will be happy, and so will you. In any industry, experience is influential in pricing decisions, and bookkeeping is no different.

If you hire self-employed bookkeepers from another country, you can also experience major cost differences. For example, a freelance bookkeeper located in India or other low-cost countries can charge less for their services compared to an independent bookkeeper in Europe or Canada. Many businesses rely on FreshBooks because of their flexible, trustworthy, and versatile system.