The Cost of Bookkeeping Services: How Much Should You Pay?

TLDRIn this video, we discuss the cost of bookkeeping services from two perspectives: the small business owner and the accounting professional. The price range for a full-time internal bookkeeper is between $30,000 and $70,000 per year, depending on experience and responsibility. For outsourcing bookkeeping services to a firm, the cost can range from $4,800 to $18,000 per year, depending on sales and complexity. Factors such as e-commerce, job costing, and software requirements can impact the price. Value-added services and unique systems can also affect pricing.

Key insights

💰The cost of a full-time internal bookkeeper ranges from $30,000 to $70,000 per year.

🤝Outsourcing bookkeeping services to a firm can cost between $4,800 to $18,000 per year.

🧩Factors such as e-commerce, job costing, and software requirements can impact pricing.

🌟Value-added services and unique systems can affect the price of bookkeeping services.

🔑Finding the right balance between cost and quality is essential when choosing bookkeeping services.

Q&A

How much does it cost to hire a full-time bookkeeper?

—The cost of hiring a full-time bookkeeper ranges from $30,000 to $70,000 per year, depending on experience and responsibility.

What is the price range for outsourcing bookkeeping services?

—The price range for outsourcing bookkeeping services to a firm is $4,800 to $18,000 per year, depending on sales and complexity.

How do factors like e-commerce and job costing impact the price of bookkeeping services?

—Factors like e-commerce and job costing can increase the complexity of bookkeeping services, potentially affecting the price.

Can value-added services and unique systems affect the price of bookkeeping services?

—Yes, value-added services and unique systems provided by bookkeeping firms can affect the price of their services.

What should I consider when choosing bookkeeping services?

—When choosing bookkeeping services, it's important to find the right balance between cost and quality. Consider factors like experience, expertise, and value-added services.

Timestamped Summary

00:00In this video, we discuss the cost of bookkeeping services from two perspectives: the small business owner and the accounting professional.

02:30The cost of hiring a full-time internal bookkeeper ranges from $30,000 to $70,000 per year, depending on experience and responsibility.

04:00Outsourcing bookkeeping services to a firm can cost between $4,800 to $18,000 per year, depending on sales and complexity.

06:20Factors such as e-commerce, job costing, and software requirements can impact the price of bookkeeping services.

08:45Value-added services and unique systems can affect the price of bookkeeping services.

10:30Finding the right balance between cost and quality is essential when choosing bookkeeping services.

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