Is an Outsourced Bookkeeper Worth It?
Charging by the hour for bookkeeping is considered outdated. That’s because a flat fee is advantageous to both parties: the service knows how much they will earn, and their clients always know how much the bookkeeping is going to cost.
Some services still charge an hourly rate, usually between $25-$75 per hour, but that method leaves the client guessing what to budget every month.
The amount of bookkeeping time required varies significantly, depending on the complexities of your business and industry:
· Number of locations or stores
· Number of employees
· Services you want the bookkeeper to provide
The monthly flat fee at BookwerksTM could range from $300 for a solopreneur designing websites to $1,500 for a restaurant owner with three locations and 100 employees. We can keep costs low by using the latest cloud-based software and handling your company’s needs exclusively through e-mail and the internet.
What you Get for Your Money
A business needs accurate and up-to-date bookkeeping to pay taxes and understand how well the business is doing. These tasks can be done in-house by an employee or business owner using computer software, by an outside bookkeeper, or by an accountant (but having an accountant do daily bookkeeping tasks is the most expensive way to go).
Accountants provide broad financial advice and recommendations, while a bookkeeper handles daily record-keeping and provides weekly or monthly statements.
A professional bookkeeper is not required to have a degree in accounting, but should have relevant experience, worked in the field, and have a nose for detail.
Your bookkeeper may complete tax forms and generate standard financial reports or simply gather and prepare the detailed numbers that a Certified Public Accountant uses for tax preparation, financial analysis or a business audit.
With the introduction of easy-to-use accounting software such as QuickBooks and Xero, many small business owners start out doing their own bookkeeping, but often switch to a professional service later on. It is simply too time-consuming, too expensive (in time lost) and too important to avoid errors, to do it yourself with all the other things you need to handle on a regular basis.
Peace of Mind and Time to Focus on Generating Revenue
Bookkeeping services for small business take an important, but non-revenue-generating task off the overflowing plates of business owners. We free up their time and energy for the more critical work of running the business.