Bookkeeping Price Packages

This is when you’ll need more advanced bookkeeping, accrual-based accounting, and management or managerial accounting to help you make data-driven decisions. Jetpack Workflow was designed from the ground up with bookkeepers and accountants in mind. The cloud-based workflow management system allows you to start with predefined templates, customize them for your firm, and track progress on all your work. Jetpack Workflow offers a free 14-day trial which will give you the opportunity to see how much time you could be saving with a full workflow management system. You will notice services like tax preparation are simpler to define while advisory services leave more potential for gray areas.

• A professional bookkeeper can cost you around $500 to $3,520 a month.
• It will prove instrumental in helping your small business develop into a large one.
• Now, this method does come with some disadvantages (which we won’t go into here), many of which are causing many firms to re-think their pricing strategy.
• All plans come with onboarding, a dedicated bookkeeper and account manager, reconciliation at month-end, balance sheet, P&L, statement of cash flows and a portal with document storage.
• As great as it is to talk about potential bookkeeping costs and get estimates, we know that seeing an actual average for your state can yield excellent value for you as a business owner.
• In that case, you can’t offer a cash flow analysis when they don’t have their chart of accounts properly organized in the first place.

Too many self-employed workers, startups, and business owners miss out on write-offs that can save them a lot of money. Without up-to-date books, you won’t have an accurate understanding of your business expenses, profits, and overall cash flow. This can result in serious losses that you could have avoided. It was so bad that it caused me to scour the internet for a solution and luckily I stumbled across Practice Ignition when the company first started in 2013. In fact, I was actually proudly one of Practice Ignition’s first customers on the platform back in 2013.

What Accounting Software Do You Use For Bookkeeping?

Outsourced bookkeeping rates are frequently less than hiring conventional, on-site personnel. Although the cost of online accounting might vary, small business owners can frequently discover flat rates and packages that are catered to the requirements of their particular company. Over 6,000 accountants and bookkeepers use Jetpack Workflow to standardize client work, automate deadlines, and track firm progress.

During your free trial, we’ll walk you through the services included in each Bench bundle to determine which is the best fit for your business. Whatever structure and pricing you go with, make sure to lay it all out on the table for current and prospective clients. That way, there are no surprise fees, and clients know what to expect from you.

QuickBooks File Setup

The Bookkeeping service starts at $399 per month and includes bank, credit card and loan reconciliations and the preparation of monthly financial statements by a dedicated bookkeeper and account manager. The Essential package is $249 per month billed annually, or $299 monthly. It’s best for people who want a professional bookkeeper to help for their peace of mind and accurate financials. It includes dedicated bookkeeping experts with unlimited communication, monthly books and year-end tax-ready financial packages, a profit and loss statement, a balance sheet, and 1099 reporting. If basic bookkeeping is all that your company needs at this stage, you’ll need to decide whether to do the bookkeeping in-house or if you should outsource. If you decide to hire and manage a bookkeeper you’ll also have to decide whether the position is part-time or requires full time.

With your dedicated online bookkeeper, you can reach them via email, text, or Zoom video calls when you have questions. The team employs proven processes that learn your business and customize the monthly bookkeeping activities to match so that your digital business needs are met. If either part-time or in-house bookkeeping is not the ideal solution, switching to outsourced bookkeeping or accounting could be your best option. Many businesses are concerned about switching over to outsourcing, not understanding how the pieces fit together with this model. But with today’s advancements in technology, outsourcing has never been easier. Outsourcing can provide advanced and less costly bookkeeping service than a typical in-house bookkeeper.

Frequently Asked Questions

There’s no extra fee or hourly charges for support—we’re always happy to nerd out about bookkeeping and your financial statements. We take monthly bookkeeping off your plate and deliver you your financial statements by the 15th or 20th of each month. The Weekly plan starts at $549 per month at the same monthly expense level. This gives you everything in the Monthly plan, plus a dedicated accounting team, weekly updates, and advanced reporting. Both plans cater to businesses with $15,000 in monthly expenses.

• Both plans cater to businesses with $15,000 in monthly expenses.
• Please see the chart below with data pulled directly from the US Bureau of Labor Statistics 2022 data to learn more about the average salary and hourly rate for bookkeeping.
• From big jobs to small tasks, we’ve got your business covered.
• An in-house bookkeeper will often cost you more than an outsourced bookkeeper, although hiring one so gives you more oversight and control over your bookkeeping.
• If it’s basic client billing and documentation, a good solution may be accounting software that can assist you if you still want to play a more hands-on role.
• All reports can be easily exported to an Excel file to share with your accountant or future bookkeeping provider.
• A small business can likely do all its own bookkeeping using accounting software.

But, don’t minimize your worth and expertise in the pricing process. Otherwise, you may wind up missing out on profits or scaring off clients with high rates. Again, the best course of action for you to take when setting prices is doing your research.

What To Expect  When LYFE Accounting Handles Your Books

The bookkeeping services we provide for small businesses and individuals produce tax-ready financial statements. If you are going to file your small business’ year-end tax return, you will need to include your tax-basis income statement and balance sheet. You will be appropriately equipped with the help of our credible bookkeepers. This is regardless of the bookkeeping rates that you will avail of from our agency. It takes a bit more strategy & thought than the billable hour as well as some basic education in price theory.

Our bookkeeping price packages are varied to give you several options. These services are customized to the exact needs of business owners. The on-boarding or Starter package pricing starts at $500/month, the Standard package is priced at $750/month, and the Pro package is priced at $1000/month. bookkeeping services price list Besides that, we can also advise you on the bookkeeping price packages we offer and see which one fits your business the best. 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.

Your services agreement should include a list of which financial statements will be provided, and how often they will be delivered. Now that you know the answer to the question “How much does a bookkeeper cost? You may also consider using online bookkeeping services and accounting software to save time and money, all while meeting your bookkeeping needs. Businesses make great use of the financial data that is made available by accounting to drive their success. This crucial financial data is obtained through competent bookkeeping services. Since it drives the decision-making process, you should now understand how important it is to have quality bookkeeping services.

• However, most businesses that make the leap see the value and experience an ROI rapidly.
• If basic bookkeeping is all that your company needs at this stage, you’ll need to decide whether to do the bookkeeping in-house or if you should outsource.
• That is why we make sure to continually offer the highest quality of service.
• You will be able to keep track of your small business’ expenses and revenues with the help of LYFE Accounting’s dedicated bookkeepers.
• Even if you aren’t planning on growing any time soon, you need to have a sense of how much money is coming in vs. what is going out.