Bookkeeping Services

The task of proper bookkeeping can be a frustrating job for any business owner. As the owner you either do all the work yourself, or pay someone on your staff to do the job. It is unlikely that you or your employee is a professional bookkeeper, and hiring one to work for you full time would likely cost between $30,000 and $40,000 per year. If you need, and can afford, that amount of money you probably do not fall into the small business category any longer.

For most business it just does not make sense to keep the bookkeeping in-house. Both the owner and the employee can probably be doing other work that will have a greater benefit for the company. However, keeping proper financial records cannot be ignored. The solution is to outsource this job to someone who does this type of work for a living. There are plenty of bookkeeping services out there that will save you time, frustration, and money each and every month.

The first question you will probably ask is "How much do bookkeeping service cost?". The answer to the question will be unique for each different business based on the amount of transactions that must be recorded and any other additional tasks that will need to be carried out. However, you can typically count on this service costing anywhere from $20-$50 per hour. Some online firms, especially those located in countries such as India, offer their services for as low as $10-$25 per hour.
Some companies are now moving away from the hourly rates and charging a flat rate based on the volume of work that must be done. This is an excellent step forward for their clients, as they will know exactly how much the outsourcing will cost you each month. For those unfamiliar with bookkeeping practices it can be very scary to pay on an hourly basis, because there is always the possibility that the outsourcer could take advantage of you by adding on additional hours. A typical small business could expect to pay anywhere from $300-$500 per month for this job.

All of these prices are just generalized estimations, and to get an exact price you will need to contact a few bookkeepers to receive a quote. They will most likely ask you some basic questions about your business' financials and give you a price based on the work load. It is wise to shop around and find the best price, but you always need to remember how important your financial records are. Go with a company that will give good results, and not just the one with the lowest price.