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How much is a Bookkeeping service?

Average Price
$40 per hour

What's the average cost of a Bookkeeper?

No company would survive and become successful without proper bookkeeping, but it can sometimes be a real headache! Find out how much you’ll pay to outsource your bookkeeping, so you can focus on running your business.

What is Bookkeeping? 

No matter its size, every business needs bookkeeping as part of its regular accounting process. Put simply, bookkeeping involves keeping financial records and updating these records over time. 

Bookkeeping will help you keep track of your business’s progress. By keeping a close eye on money, you’ll be able to evaluate your actions and find out what’s working and what’s not.

Why your business needs proper Bookkeeping

Bookkeeping is key to understanding the financial health of your business. With accurate bookkeeping, you can see your revenue, understand your expenses, and find holes which you must plug for your business to remain successful. 

It’s also an easy way to keep tabs on your goals and what needs to be done to be able to meet them. 

Proper bookkeeping enforces discipline in every business. The constant reminder that there is a transparent system of accounting serves as a deterrent and reduces or even eliminates the tendency of theft and fraud among employees. 

So how much does it cost to hire professionals who can offer bookkeeping services in Australia? 

How much does Bookkeeping in Australia cost?  

Average cost (per hour) $40

On average, Australian bookkeepers charge around $40 per hour. Although this isn’t set in stone. Let’s take a closer look at factors influencing costs.

What affects the price of Bookkeeping services in Australia? 

  • Nature of the service

  • Experience of the professional

  • Size of your business

Nature of the service

Full-time bookkeeping services are always costlier when compared to part-time bookkeeping services. If you run a small business and you are strapped for cash, you may want to consider beginning with part-time bookkeeping services. 

In addition to this, specific bookkeeping services have different prices attached to them: 

Service Average price
General bookkeeping $100
Accounts payable $250
Ongoing bookkeeping $150 - $250

Experience level of the professional

Just as is the case with every other field, more experienced professionals will always charge higher than newbies and mid-level professionals. This is usually as a result of the expertise they have been able to build over time. If you can afford to, get the services of a well-experienced bookkeeper.

Size of your business

The larger your business, the more the amount of bookkeeping work that must be done for it. You wouldn’t expect to pay the same as a one-man business if you run a twenty-man business with a seven-figure annual revenue. 

The size of your business will determine the amount of work that needs to be done, and this will affect how much you spend - in the end.  

How to reduce Bookkeeping costs

Concerned about costs? We’ve got you covered! Read on to find out how to keep bookkeeping costs to a minimum: 

  • Hire on a part-time basis - As a small-business owner, hire a professional on a part-time basis This way, you only call for the bookkeeper when you need his services, and you pay for the exact amount of work he does, not because he is a full-time employee in your business.  

  • Opt for a mid-range professional - You may want to hire a mid-range professional if you are on a budget. They offer cheaper services (most times).

  • Hire an individual - Hiring individual professionals is cheaper than hiring a bookkeeping/accounting agency to do the job for you. 

Bookkeeping is a major part of every business’ daily operations. Doing it right may be the difference between the success and failure of your business. Hire a Bookkeeper on Bark today! 

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