This office employs 10 speech pathologists and general staff and circulates child clients who come in for their services. I work a maximum of 10 hours per month on this particular client’s books, and charge $500 a month, which still comes out to be roughly $50 an hour. Even though I’m giving you the hours it takes me with each of these clients, I don’t necessarily keep track of them. I work a maximum of five hours per month for this client, which means sometimes I get my job done in less time.
Again, the best course of action for you to take when setting prices is doing your research. Take a look at industry averages, rates by state, and more to get an idea of how much to charge your clients. When setting your bookkeeping services prices, consider creating different tiers for the size of the client. This method is less dependent on the how much does bookkeeping cost unique situation of each and every one of your clients and is more dependent on the pricing that you have established beforehand. You’ll need to set a menu of all of your additional services and then attach a price to each one. With fixed pricing, you are essentially setting up a service menu and attaching a fixed price to them across the board.
Value-Added Pricing Calculator for Accountants
Most likely, you already have an hourly rate in your mind that you’d like to be working at, and you likely did not get into bookkeeping to be making $10 an hour. Veronica Wasek from 5-Minute Bookkeeping has a great pricing strategy. For her fixed-rate pricing, I believe she does the 1-3% for any clients that are $300k or below. For a client who’s revenue starts at $300k and goes up, she will insert a base of $400 and then add on any extra services they may need.
For the client accounting services in scope #1, you may get caught in a situation where you start the service at 100 transactions per month in the bookkeeping service. But then find yourself in a position handling a significantly higher per month amount of bank accounts and transactions down the road. Since your agreement doesn’t specify what is and what is not included in monthly bookkeeping services, it’s hard for you to increase your price without potentially souring the relationship. The burden is on you to make your service clear as basic bookkeeping services per month can have a wide range of outcomes. Many factors contribute to your decision about how much to bill your clients. Once you evaluate the average rate of pay for your geographic location, your level of education, and any certifications, you’ll have a better idea of what to expect in terms of an hourly rate.
