Allowing us to tackle the headache and frustration that financial management can bring will give you the time to focus on growing your business to the next level. This price varies based on the number of bank and credit card bookkeeper accounts you have, plus the average number of transactions your business transacts monthly. The typical cost of outsourcing your accounting and bookkeeping can range from $500 to $5,000 per month for small businesses.

She has owned Check Yourself, a bookkeeping and payroll service that specializes in small business, for over twenty years. She holds a Bachelor’s degree from UCLA and has served on the Board of the National Association of Women Business Owners. She also regularly writes about travel, food, and books for various lifestyle publications. By now, you should have an idea of how much a bookkeeper is going to cost you, and how that price tag stacks up against the cost of doing it yourself.

Small Business Owner’s Equity Guide

It records all your financial metrics and assures you maintain regulatory compliance at the state and federal levels. The salary of an entry-level bookkeeper in Brooklyn, New York, is estimated to be around $55,117, but it ranges from $55,000 to $70,000. Add in years of experience, benefits, and cost of living and it gets more expensive. However, when talking about bookkeeper costs, it is important to note their differences. For one, a bookkeeper is generally cheaper than an accountant, because they have different functions, expertise, and qualifications. Let’s say you’d be willing to pay a new bookkeeper who just finished their accounting education $20 an hour and an experienced bookkeeper with outstanding references $40 an hour. Once you have these figures in mind, ask each applicant about their prices and preferred payment methods.

• It’s also important to consider how much you’ll need to spend to clean up your books.
• We work hard to evaluate the necessary tools and technologies that support remote work relationships while providing the key checks and balances needed in bookkeeping.
• GrowthForce can serve as your outsourced advanced bookkeeping and accounting department.
• You’ll then receive financial statements once a month with personalized insights into where your company’s money is going.
• If the business is moving into a growth stage, you need to consider graduating to full accrual-based accounting, including financial and management reports.

This way of charging has changed quite a bit now that we have QuickBooks Online. https://www.bookstime.com/ The actual inputting of transactions isn’t what is taking the most time.

Hire an All-in-One Bookkeeping Service

You will also need to factor in the overhead, benefits, and office space costs, which will account for about 20 percent of the total cost. The more certifications a provider has, the more qualified they are expected to be at what they do. As such, a provider with two certificates will charge a higher rate than one with just a single certificate. While hiring highly qualified professionals guarantees quality results, it does not come cheap. The more qualified the professional, the more they are likely to charge for their service. If your business is just starting out, or if you’re in a month-to-month cash crisis, it’s probably best to do your own bookkeeping for now.