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How much will I pay for a Bookkeeper?

Average Price
$40 - $80 per hour

How much does a Bookkeeper cost on average?

Although bookkeeping is important to businesses, it can be painfully boring and tedious. Find out just how much it’ll cost to outsource your bookkeeping to professional accountants, so you don’t have to worry about it!

What is Bookkeeping? 

In a nutshell, Bookkeeping is the art of keeping financial records. It’s an essential practice of every successful business.

Bookkeeping serves many purposes for businesses. For one, it helps the business’ administration to keep track of their progress. By keeping a close eye on their money, they can evaluate their actions and find out what is working in their business. 

Bookkeeping needs to be carried out regularly. Under ideal conditions, bookkeeping must be done every day for maximum results. 

Why your business needs proper Bookkeeping

Proper and accurate bookkeeping helps you understand the finances of your business. With accurate bookkeeping, you can see how much your business makes, discover what’s eating up your money, and make guided decisions in future events. 

Proper bookkeeping enforces discipline in your business. It reduces or even eliminates the tendency of theft and fraud among employees, and makes sure that all the stakeholders remain transparent in their everyday business transactions. 

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

How much does Bookkeeping in Canada cost?  

The cost of hiring professional bookkeeping services in Canada varies, and this is dependent on a few reasons. Let’s take a look at how much you’ll pay for Bookkeeping on average:

Average priceNature of serviceDuration
$40 - $80Part-time bookkeeping services (individual freelancers)1 hour
$2,000 - $4,500 Full-time bookkeeping services1 working month
$150 - $450Part-time bookkeeping services (agencies)1 hour

What affects the price of Bookkeeping services in Canada? 

The table above summarizes the determinants of the amount of money you will spend on bookkeeping in Canada. Those factors include: 

  • Nature of the service

  • Experience level of the professional

  • Size of your business

Nature of the service

Full-time bookkeeping services are more expensive. If you run a small business and you do not have a lot to spare, you may want to consider beginning with part-time bookkeeping services. 

Experience level of the professional

Just as is the case with every other field, more experienced professionals have higher charges on their services. This is usually as a result of their expertise. 

Size of your business

Larger businesses will always spend more money when hiring a professional accountant to offer bookkeeping services. 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. 

How to reduce the costs of Bookkeeping services

Need a Bookkeeper but worried about costs? Read our top tips for keeping costs down: 

  • Hire a professional part-time - Depending on the amount of money you have, hiring a professional on a part-time basis may be cheaper for you. This way, you only pay the professional when he offers his services to your business.

  • Opt for a mid-range professional - Hire a mid-range professional if you are on a budget. Their services are usually more affordable. 

  • Choose an individual over an agency - 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 could be the difference between your business sinking and swimming. Hire a Bookkeeper for your business on Bark! 

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