How Much Does A Small Business Bookkeeper Cost?

The cost of a small business bookkeeper depends on how much bookkeeping your business actually requires. A sole trader with a small number of transactions may need significantly less support than a business with employees, payroll, regular supplier bills, hundreds of sales transactions or several bank accounts. 

Bookkeepers may charge hourly, per task or through a fixed monthly package. A monthly package can be useful because it gives the business owner a predictable cost and establishes exactly what work is included. When assessing the cost, consider the tasks being performed rather than simply the number of hours. Regular bank reconciliation, accounts payable, accounts receivable, payroll and financial reporting can provide substantially more value than basic transaction entry alone. 

You should also distinguish between ongoing bookkeeping and historical cleanup. If your accounts are several months behind, the initial project may cost more than the regular monthly service because the bookkeeper has to investigate and correct historical transactions. 

Young Guns Bookkeeping provides bookkeeping support to Melbourne small businesses and can help determine an appropriate level of ongoing support. The right frequency might be weekly, fortnightly or monthly depending on the business. 

The goal is to keep the accounts sufficiently current to give you useful information without paying for a service level you don't need. When requesting quotes, provide an accurate picture of your transaction volume, software, payroll and current bookkeeping status. That allows the bookkeeper to give you a much more meaningful estimate than simply asking for an hourly rate.