Cost Of Bookkeeping Services For A Small Business

Posted by proledge on January 21st, 2020

If you are a small business, which is on the way to become successful in the coming years, you might be looking at various ways to save money while running the business. In case of hiring the best bookkeeping services in Houston, or any other area, you might be interested to know the cost that you’ll incur every single month for that. To get an answer to that question, you need to realize that service charge of a quality bookkeeping for a small business or a non-profit organization depends on a variety of factors.

Size of the company and lifecycle, number of average monthly transactions, total number of employees and how the payroll is initiated/processed, number of accounts (both expense and non-expense), credit cards, invoice bills to pay, and total balance sheets to reconcile, to name a few are some of the most necessary factors. Along with these basic bookkeeping activities, the costs can also be impacted by how your accounting systems, policies and plans, and reporting requirements are being set up and administered.

When we talk about bookkeeping service, there are basically three major types of services that a business, irrespective of its size can take help from: part-time, full-time and outsourced. There is another type, which is the DIY (Do-It-Yourself) one. It is not relevant here since there is zero added financial cost.

Part-time service cost

The service charge associated with a part-time bookkeeper can vary widely. In most cases, hourly rates for these bookkeepers average around for each hour depending on the description of the job and most importantly, the location. They will generally perform some basic bookkeeping duties and need constant supervision.

Full-time service cost

The estimated average full-time bookkeeper’s salary varies somewhere in between k to k for each year, plus additional benefits and overhead, depending on location of the job.

Outsourced service cost

The average service cost of outsourcing bookkeeping requirements ranges in between 0 to .5k per month. The charge depends on number of daily transactions and nature of complexity of the required service. A highlighting point of outsourcing is that it provides you the ability to personalize the services you receive to all your major bookkeeping needs.

If you are curious to know which one will best suit your business, out of these three, you need to study each of them in greater details and find out the one that works for your business and begin by dealing with various problems, or other potential issues, with your books.

Author: The author is a blogger and the article is about bookkeeping services.