Depending on your needs, one pricing structure may be more beneficial. Outsourcing accounting services allows you to reap the benefits of an accountant without the costs of a full-time employee, such as insurance and other benefits. Bookkeeper salaries vary state by state (see our chart below), and depending on where you live, you could be paying a large difference in one place versus another.

You’ll also pay more for industry-specific experience or advanced expertise—whether you’re in a big city or a small town. Getting answers on the cost of bookkeeping is often less than straightforward. There’s a lot of different information floating around on cost, and it’s not always clear what might apply to your particular situation. There are also several different ways to approach getting a bookkeeper, which can make it tricky to do apples-to-apples comparison.

QuickBooks

For example, Quickbooks Live Expert Full-Service Bookkeeping can cost between $300 and $700, which is determined by your business’s average monthly expenses over the past three months. The U.S. Bureau of Labor Statistics states that the average hourly pay for bookkeepers is $22.81 per hour. The type of bookkeeping service you choose will impact how much you pay, too. Hiring a virtual bookkeeper or online bookkeeping service can be less costly. Project-based pricing is similar to monthly subscription pricing.

This blog will help you understand the actual cost of bookkeeping services for small businesses. Like a traditional firm, an online provider puts your books in expert hands, without requiring you to spend time on direct oversight. If you want to have your books handled by a professional with regular, predictable costs, consider working with an online provider.

He joined NerdWallet in 2019 as a student loans writer, serving as an authority on that topic after spending more than a decade at student loan guarantor American Student Assistance. In that role, Ryan co-authored the Student Loan Ranger blog in partnership with U.S. News & World Report, as well as wrote and edited content about education financing and financial literacy for multiple online properties, e-courses and more. Ryan also previously oversaw the production of life science journals as a managing editor for publisher Cell Press. That sounds good in practice, but it’s sometimes difficult for a business owner to know who to trust with their accounts and confidential financial data. The provider doesn’t know the exact problem, so they might spend wasted time searching for the cause.

How much do accountants charge?

Hiring a bookkeeper for payroll services costs $40 to $100 per hour where they handle day-to-day financial record keeping and payroll processing. Bookkeepers provide a variety of financial services found in the table below. If you need services a bookkeeper doesn’t typically provide, you may need to hire an accountant or CPA firm instead. Hourly rates can range from $20 to $100 or more per hour, while monthly rates may range from $200 to $500 or more per month for small businesses. In-house accounting, on the other hand, gives you peace of mind knowing that someone you know and trust is handling your books and financials.

Fixed Monthly Fee / Retainer

• Contact Meru Accounting to explore options and choose a service that fits your business.
• The cost of hiring a part-time bookkeeper typically ranges from $20 to $50 per hour, depending on location, experience, and the complexity of tasks.
• Pricing for online bookkeeping services is often based on a subscription model or flat monthly fee, with transparent pricing and no hidden costs.
• You also lose some direct oversight, which can be challenging if you need immediate support.
• To learn more about the cost of bookkeeping, follow this small business guide.

This is an essential service and one which only a qualified professional can give. When your business reaches a certain level, and you’re ready for the next step, you need your system adapted to changing circumstances. The Grasshopper Business Checking account requires a modest $100 deposit to open the account, but has no minimum balance requirement after that. This account also doesn’t charge any monthly maintenance fees or overdraft fees. Novo Business Checking is a no-frills account that doesn’t charge a monthly maintenance fee and doesn’t require a minimum deposit to open the account. It also offers unlimited fee-free transactions with no overdraft fee.

Part-time bookkeepers can assist with tasks such as data entry, reconciling accounts, and managing timesheets. This option is often more affordable, making it a popular choice for small businesses that can manage some of the accounting responsibilities in-house. It’s important to weigh the cost of hiring a professional bookkeeper against the value of your time. If managing your financial records starts taking you away from growing your business, outsourcing the task may be the most cost-effective solution. Accounting includes more tasks, such as tracking finances, giving recommendations, performing audits, filing taxes, and other related services. Some accountants or CPAs handle both bookkeeping and accounting services.

• It keeps your finances clean, supports better decisions, and helps you stay ready at tax time.
• For businesses in need of additional services, explore our advanced bookkeeping services for a more comprehensive approach.
• Usually, you can expect to pay $400-$800/month plus benefits, usually on an hourly pro-rata basis, for a part-time bookkeeping service.
• It has a low $100 minimum opening deposit, offers unlimited domestic ATM fee reimbursements and allows up to 60 items per month for remote deposit.

Hourly Fees

Typically, fixed payments could be up to $150/month with $30-$40/hour spent working on the books. Hourly bookkeeping rates are probably the best method for small business owners. Moreover, the amounts will usually be lower than when you pay monthly. The number one thing you can do to secure the best business loan rates is to make sure your business looks like a low-risk borrower to lenders. That means high revenue, strong cash flow and a good credit history. Small business owners with variable-rate loans usually pay more attention to how the Federal Reserve adjusts interest rates.

In contrast, a typical city in a largely rural state such as Belgrade, Montana, has a median salary of $36,735. Similarly, the median bookkeeper’s salary for Cody, Wyoming, is $41,899. Get expert tips, strategies, news and everything else you need to maximize your money, right to your inbox. Novo doesn’t allow for cash deposits, but you can use the mobile app to deposit money orders and checks. Bankrate has partnerships with issuers including, but not limited to, American Express, Bank of America, Capital One, Chase, Citi and Discover. It’s a good idea to keep some extra cash on hand, so you aren’t caught flat-footed if a bookkeeping bill comes back higher than expected.

Hiring a bookkeeper costs $40 to $100 per hour, depending on the location, business size, and services needed. Some bookkeepers charge $200 to $1,000+ per month for part-time services or $3,200 to $5,800 per month for full-time services. Bookkeeping prices fall at the low end for small businesses, while large companies requiring daily bookkeeping services pay more.

They are in charge of maintaining your financial books by keeping track of expenditures and revenue. This is performed by entering data into an accounting software like QuickBooks. Before looking to hire a full-time employee to maintain your books, you should first figure out what kind of responsibilities you need to have handled. A full-time accountant is an upgrade over a basic bookkeeper, as they require less oversight and provide greater expertise across the board. So, it’s important to know how much to charge clients based on location. Deciding whether to hire a bookkeeper or manage your finances in-house depends on your business’s needs and resources.

Average business loan interest rates in 2025

The funds in your account are FDIC-insured up to $250,000 per depositor for each account ownership category. The Found Mastercard Business debit card is issued by Piermont Bank pursuant to a license from Mastercard Inc. and may be used everywhere Mastercard debit cards are accepted. Direct deposit funds may be available for use for up to two days before the scheduled payment date.

For example, larger cities attract a higher cost of living, which might move the upper salary limit to around $70,000/year plus benefits, or even more. Not only this, but the higher real estate costs in such locations increase the company overheads and office space rents. Usually, you can expect to pay $400-$800/month plus benefits, usually on an hourly pro-rata basis, for a part-time bookkeeping service. The variation in charges depends on your location in the country and the tasks you expect the part-timer to do. Bear in mind that usually, a part-timer performs basic bookkeeping and will require supervision by you or another manager.

With good or excellent credit, you could see small business loan rates as low as 7 percent to 8 percent. Determining how much to charge bookkeeping services effectively requires a strategic approach that moves beyond simple hourly rates. Modern how much to charge bookkeeping strategies focus on packaging value and predictability for both you and the client. This doesn’t mean hourly rates are never appropriate (they can be for ad-hoc projects), but relying solely on them for ongoing fractional services is often suboptimal.

On the upside, this lets them become familiar with your business’s ins and outs. And if they work on site, you can consult them in person when you have questions. Catch up on CNBC Select’s in-depth coverage of credit cards, banking and money, and follow us on TikTok, Facebook, Instagram and Twitter to stay up to date. Account holders can also earn interest for their balance through a tiered APY offering. You can earn 1.51% APY on balances of up to $24,999.99 and more than $250,000. Then, you’ll earn up to 2.25% APY on balances of $25,000 to $250,000.

Managing your finances effectively is essential for the success of any small business, but the cost of bookkeeping services can vary widely depending on several factors. At Exact Ledgers, we specialize in providing affordable and reliable bookkeeping and accounting solutions for small businesses. This eliminates the need for interviewing and taking a chance on an individual who might end up being poorly-equipped to handle key finance-related activities at a company. Another key benefit to outsourcing bookkeeping to a professional CPA firm is the level of expertise received. Small businesses and even mid-size companies don’t always hire the best talent to handle their daily and monthly bookkeeping responsibilities.

To get the most out of outsourcing, choose a partner with experience in your industry. Local firms can offer personalized service and understand regional tax laws. An offshore option might be more cost-effective what are the average bookkeeping rates andfees for small businesses if you only need basic tasks.

Outsourcing your bookkeeping to a third-party firm is one of the most popular options for small businesses, especially those looking to balance quality with cost. On average, outsourced bookkeeping services range from $300 to $2,000 per month, depending on the size of your business, the number of monthly transactions, and the services you need. Deciding what to charge for bookkeeping services can be a complex task. You need to consider the type of work you will be doing, the needs of your clients, and the competitive landscape when setting your rates. Key features include professional invoicing and payment processing, expense tracking with easy receipt management, and time tracking for projects and teams.

Because the federal funds rate can be a benchmark for other loans, the rates you’ll pay for new business loans can change as the Fed funds rate changes. If you choose a variable interest rate, your rate will change with market conditions over your loan’s life; with a fixed rate, it remains the same. Small business loans can come with either variable or fixed interest rates. You typically get to choose which type of rate you receive when you get a small business loan.