If there are only a few competitors (or a few big bookkeeping firms), they might undercut you to force you out of the market, even if doing so means losing money for some time.

This may be an effective method for luring customers to your new company. The price difference can also be used as a selling point for the product. This indicates that you have the choice to raise your prices to the level of the market, so boosting either your income or your profit margin. It is hoped that the price of your goods at cost is lower than that of your rivals. To accomplish this, you must first ascertain whether or not your service is competitive with that of other providers in your region and whether or not you contribute sufficient additional value to your service (in the form of experience, skill, or promptness) to warrant charging a higher price. When deciding the actual price you charge for your bookkeeping services, you can begin by looking at the cost price of the services you provide as a starting point. When starting a new business, determining your cost pricing is extremely important since it reveals whether or not you have a viable offering. Cost Price Vs Actual PriceĪs a bookkeeper, you need to double-check that the amount you charge for your services is accurate. So what kind of fees should you expect to receive for your bookkeeping services?Įxcellent formulas and calculations for determining a bookkeeping charge rate are available on the Institute of Certified Bookkeepers website titled “What Charge Rate for Bookkeepers.” When this article was being written, they suggested a minimum charge of $45 per hour for bookkeeping services. After all, you are the one who is accountable for all of your financial obligations. If you work as a bookkeeper on a contract basis, your rates will be far higher than the hourly rate you would make if you worked for someone else as a bookkeeper. Choosing Your Bookkeeping Rates and Prices Bookkeepers included in our directory determine their hourly rates according to their:īecause there are so many bookkeepers in Australia, you shouldn’t have any trouble selecting one who satisfies your requirements and your financial constraints. The vast majority of bookkeepers on the list charge by the hour however, you can ask for a bookkeeper that can provide a tailored package for a flat rate if you so want. You will need to discuss with the bookkeeper that you have selected the fees and the expectations associated with keeping the books. The price that bookkeepers ask for their services varies from one region to the next however, we have compiled a list of bookkeeping rates for level 1 bookkeepers.īecause the bookkeepers included in the National Bookkeeping Directory are also the owners of the businesses they work for, our organisation does not utilise a standardised pricing structure for our bookkeeping services. However, we have compiled a list of bookkeeping rates for level 1 bookkeepers up to level 5 bookkeepers and accounting experts at the bottom of this page. In addition, they will provide you with the assistance you require to get your company off the ground and running successfully. They can also set pricing for different bookkeeping services.įind a company that specialises in accounting and bookkeeping for new businesses and offers discounts on their services. Even if this is not always possible, they will most likely be based on hourly rates. When looking for a bookkeeper, one of the biggest concerns for potential candidates is the prices they charge for their services.

For example, if a bookkeeper is working for a company that also employs a certified public accountant to oversee their job, then the rate that the bookkeeper charges will almost certainly be greater. The cost of employing a bookkeeper is greatly impacted not only by the amount of work that needs to be done but also by the level of experience that the bookkeeper possesses. You should always consult with an accountant, finance or registered bookkeeper to ensure that you are getting the right advice. Keep in mind that this content is intended to be general in nature, and is not personal financial advice. As a result, bookkeeping services that are relatively simple and require only the input of data will typically cost less than a project containing several accounting activities, including bookkeeping, as part of its scope. The price of bookkeeping is often determined by a combination of two factors: the amount of time spent entering data and the expense of purchasing and maintaining accounting software.

Freelance bookkeeping charges