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What’s the average price of a Bookkeeper?

Average Price
£850 per month

How much does a Bookkeeper cost on average?

Need to hire a Bookkeeper for your business but confused about costs? Read on to find out how much you’ll pay for a Bookkeeper in the UK based on the nature of the service and the size of your business.

What is Bookkeeping? 

Bookkeeping is one of the primary practices every successful business and conglomerate has at their core. Put simply, it’s the art of keeping financial records and updating these records over time. 

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’s working in their business. 

Bookkeeping needs to be carried out regularly! Under ideal conditions, it should be done every day as part of every business’ daily operations. 

Why your business needs proper Bookkeeping

Every company needs proper and accurate bookkeeping to understand its finances. Bookkeeping helps you to see how much your business makes, so you can know exactly where the revenue of your business goes.

Bookkeeping also makes it easy to keep tabs on your goals and how close your business is to achieving them!

Proper bookkeeping enforces discipline in every 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 the United Kingdom? 

How much does Bookkeeping in the United Kingdom cost?  

The cost of hiring professional bookkeeping services in the U.K varies, and this is dependent on a few reasons. In summary:

Average priceNature of serviceDuration
£20 - £40 Freelance bookkeeping services 1 hour
£800 - £1,200 Full-time bookkeeping services1 working month

What affects the price of Bookkeeping services in the United Kingdom? 

The main factors affecting the cost of bookkeeping services are:

  • Nature of the service

  • Professional’s experience

  • Size of your business

Nature of the service

Full-time bookkeeping services are always more expensive than freelance bookkeeping services. This is usually because of the involvement on the part of the bookkeeping specialist. If you run a small business and you don’t have a lot of disposable income to spare, you should consider beginning with part-time bookkeeping services and gradually moving towards hiring someone full time.

Professional’s experience

More experienced professionals 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

This factor comes into play because it’s only logical that 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 the costs associated with Bookkeeping services

On a budget? Check out our tried and tested tips for keeping Bookkeeping fees down:

  • Go part-time - Hiring a professional on a part-time basis may cut some extra costs for you. This way, you do not have to spend money when the services of the professional aren’t needed. 

  • Hire a mid-range professional - If you’re on a budget you might want to consider hiring a mid-range professional. Their services are usually a mix of expertise and affordability - win-win! 

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

Bookkeeping is important to every business. Doing it right may be the difference between success and failure. Hire a Bookkeeper for your business on Bark today. 

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