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How much is Bookkeeping on average?

Average Price
$400 - $4,500 per month

What's the average cost of a Bookkeeper?

Bookkeeping is at the heart of every successful company, so it makes sense to hire a professional to get the job done right! Read on to find out just how much you'll pay for Bookkeeping services in America.

What is Bookkeeping? 

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

Bookkeeping serves a lot of purposes for businesses. For one, it helps the business’ administration to keep track of their progress and expenses. By keeping a close eye on their money, they can evaluate their actions and find out what is working in their business and what isn’t.

In addition, bookkeeping is a practice that must be carried out regularly. Under ideal conditions, bookkeeping must be done every day and has to become a part of every business’ daily operations. 

Why your business needs proper Bookkeeping

  • The major reason why your business needs proper and accurate bookkeeping is that it helps you understand the finances of your business. With accurate bookkeeping, you can see how much your business makes and know where the revenue of your business goes, helping you to make guided decisions in future events. 

  • Bookkeeping is also a sure-fire way of keeping tabs on your business goals, and whether you’re on track to meet them. 

  • Proper bookkeeping enforces discipline in every business. For one, 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 America? 

How much does Bookkeeping in America cost?  

The cost of hiring professional bookkeeping services in America varies, and this is dependent on a few reasons. To give you a general idea, let's take a look at the average costs:

Average priceNature of serviceDuration
$400 - $800Part-time bookkeeping services 1 working month
$3,000 - $4,500 Full-time bookkeeping services1 working month
$500 - $2,500Outsourced services1 working month (or as is stipulated in the contract)

What affects the price of Bookkeeping services in America? 

The overall cost of bookkeeping in America is dependent on a number of factors, including: 

  • Nature of service

  • Experience level of the professional

  • Size of your business

Nature of the service

Full-time bookkeeping services cost more than part-time bookkeeping services or outsourced services. This is usually because of the involvement on the part of the bookkeeping specialist. 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

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 in their career. If you can afford to, get the services of a well-experienced bookkeeper because it's totally worth it.

Size of your business

Typically speaking, 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 sheer size of your business will determine the amount of work that needs to be done, and this will affect how much you have to spend on bookkeeping.

How to reduce the costs associated with Bookkeeping services

Here are our top tips for hiring a Bookkeeper on a budget:

  • Go part-time - Depending on just how much you’ve budgeted for it, hiring a professional on a part-time basis may be cheaper for you. This way, you do not have to spend a ton of money even when the professional doesn’t have a lot of work to do for your business.

  • Opt for a mid-range professional - You may want to hire a mid-range professional, if you're on a budget. Their services are usually a mix of expertise and affordability. 

  • Go for an individual professional - 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. 

To get started, hire a Bookkeeper for your business today.

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