Bookkeeping Services Rates: A Complete Guide
Last Updated August 30, 2022
Maintaining the books involves more than just paperwork. Keeping accurate financial records can help your company run smoothly and efficiently while also giving you a clear picture of how the company is doing overall. It’s likely that you value your time too highly to waste it browsing about in QuickBooks. Can you, nevertheless, truly afford the price of contemporary bookkeeping services? We’ll look more closely at typical bookkeeping services rates today so you can choose the one that best suits your company’s needs.
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How to Determine the Cost of Bookkeeping Services
The education and experience of your bookkeeper can affect how much your small business will pay for bookkeeping. The price rate for bookkeeping services varies on the type of bookkeeper. An in-house bookkeeper’s services run between $18 and $23 per hour, whereas a CPA’s services cost between $40 and $60 per hour.
Online bookkeeping services are often less expensive, but three important elements will have a significant impact on the ultimate cost:
The cost of bookkeeping typically reflects the quantity of work required. Basic bookkeeping services are sometimes the simplest, making them potentially the most economical.
Catch-up services and other more intricate services will take more time and consideration. These services typically cost more the longer they are provided.
Advanced services like tax preparation and planning frequently follow a cyclical pattern. During some times of the year, you might find that you need a CPA more, which can make setting up a budget a little more difficult.
You may connect with a qualified team that can deliver these financial services with the finest proficiency thanks to the flat-rate packages offered by online bookkeeping services.
You won’t have to be concerned about the difficulty of the task or how long it will take to complete it. Instead, you can simply match the package to the size of your company, and the rest will be handled by your bookkeeping team.
The kind of service rendered affects the price list for bookkeeping services and accounting tasks. Online accounting companies can offer the whole spectrum of financial services, such as:
- Services for catch-up bookkeeping
- Preparing business taxes
- Filing taxes
- Preparation of personal taxes
Basic bookkeeping is the most economical choice due to its simplicity. However, you can still save a significant amount of money if you rely on an online accounting service to help you with your tax paperwork because your bookkeeping team and CPA will be working together.
The price of catch-up services will differ. Depending on how many months you’re behind, the actual cost will change. The main benefit of these services, however, is the assurance that your books are current.
Modern business owners could also have unique requirements that call for the assistance of a specialist in the field. eCommerce, for example, can constitute a considerable amount of a company’s revenue. For this reason, working with a specialist in eCommerce accounting is ideal. However, hiring the proper individual might be expensive.
Outsourced bookkeeping rates are frequently less than hiring conventional, on-site personnel. Although the cost of online accounting might vary, small business owners can frequently discover flat rates and packages that are catered to the requirements of their particular company.
A flat-rate strategy can be far less expensive than hiring a traditional employee, even if you only need basic bookkeeping. An internet business can readily supply supplemental services if you need them (like tax preparation).
The true benefit of using online accounting services is that small business owners may spend more time on activities that generate revenue for their company and less time on administrative work. By collaborating with an online business, you can eliminate routine financial duties without hiring more people.
It’s critical for business owners to always have immediate access to their financial information and bookkeeping staff. Your price list for bookkeeping services will be significantly influenced by the regularity and caliber of your communication.
Sadly, in this area, you basically get what you pay for. If a small business owner finds that their online staff is difficult to contact with questions or issues after employing an accounting firm, they could become irritated.
Three crucial things are offered by the top accounting firms. To start, their online financial software will provide complete transparency, allowing business owners to examine their company data from any location at any time.
Second, an online financial team should be flexible enough to accommodate your preferred method of communication, whether it be a phone conversation, email, or a scheduled teleconference call.
Third, external accounting firms will offer frequent reports on your cash flow and the state of your company as a whole. The best companies will make these reports accessible on desktop and mobile devices, ensuring that you are always up to date on your business’s financial health.
The Different MyCountSolutions Packages
There are a total of four main packages offered by MyCountSolutions and each one is based on the requirements of your business:
- There’s one package for 2 accounts: For businesses with simpler accounting needs priced at $300/mo and pre-paid annually costs $275/mo
- There’s one package for 3 accounts: For businesses with complex bookkeeping needs priced at $325/mo and pre-paid annually costs $300/mo
- There’s one package for 4 accounts: For businesses requiring all basic accounting services priced at $350/mo and pre-paid annually costs $325/mo
- There’s one package for 5 accounts: For businesses wanting to add tax preparation with audit representation priced at $450/mo and pre-paid annually costs $425/mo.
MyCountSolutions offers a free month trial, that is completely risk-free in order to show you how they handle your financial queries. Your books will be managed for you and at the end of the free trial, you will be offered an accurate income statement and balance sheet.
Affordable Bookkeeping Services With MyCountSolutions
The benefits of MyCountSolutions are evidently clear. Even the most expensive of our packages is still considerably less expensive than hiring a part-time bookkeeper!
You may have access to some of the brightest minds taking care of your accounts and managing the cash flows, while you run your business smoothly, by partnering with MyCountSolutions.
From tax preparation and audit representation to bookkeeping, our clients have learned to rely on us. Even if you’re behind on your reading, we can help!
Explore all of the advantages that MyCountSolutions can provide you and your business by registering today for a free trial.