dearJulius.com

Costs to Consider When Hiring a Bookkeeper


By Meredith Wood, AllBusiness.com

Think you’re at a place with your business accounting where you might want to hire a bookkeeper? That’s fantastic—you’re taking a huge step toward getting your business as financially healthy as possible.

Bookkeepers can do a lot of things that you may not be able to do with general financial knowledge. Even if you consider yourself very financially literate, bookkeepers are trained to save you money by spotting inefficiencies and redundancies, making sure your affairs are in order for tax time, and ensuring your bills are paid on time so you don’t get charged late fees.

These financial professionals do come with a cost, however. Depending on the extent of their duties and expertise, fees for bookkeepers vary. Still, it’s worth considering enlisting the service of a bookkeeper—especially since you might end up saving money in the long run.

Here’s what to expect.


What you should expect to pay a bookkeeper

As we briefly mentioned, there’s a range of fees associated with hiring a bookkeeper. That range will be contingent on how much experience you require, whether or not you want that person onsite, the breadth of their duties, and more.

You’ll want to keep in mind whether you have a certain goal for your bookkeeper, such as overseeing your books to ensure you’re organized and tidy with your finances, or whether you’re hoping for someone to keep a strategic eye on your records for the long term.

You also may want to consider whether or not you have a preference as to which kind of software they’re using. Some will have expertise in, say, QuickBooks, while others will prefer Xero, Bench, Zoho Books, or something else entirely.


Part-time costs for bookkeeping

Some small businesses take the first step with a bookkeeper on an hourly basis. It’s a good choice for many, especially because you’ll be able to choose which side of the range you want to pay.

Hourly fees for bookkeepers generally range between $40 and $60. You could also hire a certified public accountant (CPA), who can do your taxes and act as a controller or financial analyst for your company. As you might expect, they come with a higher cost; some CPAs run about $75 per hour, while others can charge $200 per hour and up.

Besides looking at hourly rates, you also will want to figure out how many hours you anticipate this person will be spending on their work. Some businesses will only need a few hours a week; others with more complex finances may need a bit more attention.

If you’re not sure about this number, write out a list of the duties you’ve been performing, and add in any other wish-list items. You can either track the time you spend doing all of these tasks, or ask a fellow business owner how long their bookkeeper works on similar work.


Salaried or full-time costs for bookkeeping

You may get to a point at which your hourly rate surpasses a flat fee or salaried position. In that case, you can negotiate with a bookkeeper to see if they can work on a set retainer (a flat fee for a scope of work), or pay someone to join your staff.

According to a recent salary estimate at Glassdoor, bookkeeper salaries  can range between about $25,000 and $49,000, depending on a person’s level of expertise and location. You’ll also want to factor in what benefits cost to your company if you’re thinking of bringing on someone full time.


Software costs for bookkeeping

Let’s come back to software now. You may be at a place where you already have a good foundation of accounting software, and you’ve already factor in your fees. But if you don’t, or your bookkeeper has a different preference for the ideal software for your company, then you may need to factor in the cost of these programs.

Some accounting software is a one-time, flat fee. This generally ranges from about $200 to $350, depending on the kind of features you’re hoping for. Other software is billed monthly, generally with tiered pricing. In those cases, you can plan to budget about $10 to $50 per month, with a few exceptions here and there.

One thing is nearly universal: Professional business accountants generally don’t find enough function with free accounting software.


Places a bookkeeper will help you save money

Remember that although a bookkeeper or accountant is an investment, you may find that the savings associated with having a professional do your books is greater than what you’re paying for the help.

Pros can help you save the following costs:

Late fees on bills Mistakes on taxes and withholdings Cost inefficiencies and redundancies Supplier discounts for early payment Collecting on delinquent payments

And much more.


Weigh the costs and benefits of hiring a bookkeeper

Before you enlist the help of an accountant or bookkeeper, do the same diligence you would do for any other employee. Figure out whether you can afford it, then get quotes from a few different candidates. Make sure you also do an audit of the time you’re spending, and duties you think you need; consider also getting a second opinion. Remember that you can also hire someone for a one-time project to get your books in order. This can serve as a test run.

With all of this information, you should be able to get a clear sense of whether or not you can afford a bookkeeper. Don’t forget that even if you can’t see all of the benefits now, you may be looking at a great investment down the line.

COMMENTS




Made with in NYC
Name

4th of July,7,Abu Dhabi,2,Accessories,234,Acne,13,Adventure,32,Adventure Travel,638,Advice,255,Africa,26,African Food,2,AIDS,1,Air Travel,150,Alabama,5,Alaska,20,Alberta,1,Alcohol,4,All About Beer,1,All About Wine,2,Alternative Treatments,4,America,77,American Food,5,Amsterdam,2,Android,11,Anguilla,3,Animal,367,Animal Health,1,Animals,103,Anniversary,1,Anniversary Cake,11,Antarctica,7,Anti-aging,49,Antigua,3,Appetizers & Snacks,2,Apple,11,Apps,16,Argentina,15,Arizona,19,Arkansas,2,Armenia,1,Asia Travel,47,Asian Food,7,Asthma,4,Athens,3,Austin,8,Australia,92,Australian Food,1,Austria,13,Autism,1,Auto Insurance,1,Auto Show,52,Autos,301,Azerbaijan,1,Baby Shower Cake,29,Back Pain,25,Bags,10,Bahamas,13,Balance Work & Life,50,Banana Cakes,2,Bangladesh,8,Barn Finds,1,Bathroom,43,Be a Better Manager,33,Beach Travel,58,Beaded Dress,2,Beards and Shaving,29,Beauty,1888,Beauty & Style,35,Beef Recipes,7,Belarus,1,Belgium,9,Belize,15,Bermuda,5,Best Products,17,Better Partner,7,Beverages,3,Bhutan,9,Bills to Pay,35,Birds,4,Birth Control,1,Birthday Cake,109,Blue Lagoon,2,Blueberry Cake,11,Bolivia,3,Books,1,Botswana,3,Brazil,38,Bread,11,Breads,1,Break Room,12,Breakfast & Brunch,6,Breakup,5,Breakups,3,breast,1,Breasts,69,Broken Hearts,1,Brownie,8,Brunei,1,Budget Travel,97,Bundt Cake,30,Business Skills,102,Butter Cake,52,Buying,1,By Region,3,Cake Decorating,113,Cakes,54,California,109,Cambodia,4,Camera,6,Canada,80,Cancer,73,Car Shows,1,Car Tech,2,Caramel Cake,5,Career,164,Career Advice,298,Career Choice,125,Career Growth,180,Career Paths,24,Career Problem,8,Caribbean,45,Caribbean & Mexico,5,Carrot Cake,22,Cats,49,Celebrity,17,Celebrity Dress,2,Celebs,1,Ceremonial Cake,9,Certified Pre-Owned Vehicles,1,Cheese Recipes,4,Cheesecakes,251,Chicago,7,Chicago Auto Show,2,Chicken Recipes,14,Chiffon Cake,5,Children's Health,21,Chile,7,China,21,Chocolate Cake,395,Christmas,35,Christmas Cake,23,Christmas Travel,14,Classic Cars,39,Cleaning Tips,144,Clinical Practice,1,Clothes,1,Cocktail Recipes,2,Coconut Cake,21,Coffee,1,Coffee Cake,15,Coliseum,1,Colombia,18,Colorado,32,Columbia,3,Companies,2,Compassion,1,Computing,16,Connecticut,4,Consumer Electronics Show,5,Cookies,10,Cooking,8,Corporate Travel,2,Costa Rica,13,Country Travel,249,Creative,309,Creative Idea,22,Creative Ideas,37,Croatia,15,Cruiser Travel,16,Cuba,18,Cultural Travel,66,Cupcake,322,Customs & Classics,2,Czech Republic,6,D.C.,2,Dandruff,1,Dating,8,Dating Advice,31,Dating Advice for Women,1,Dating Tips,4,Decor,23,Decorating Ideas,181,Delaware,1,Demotivational,636,Denmark,12,Dental Health,26,Dentistry,1,Depression,24,Desert Travel,1,Desserts,3,Detroit Auto Show,4,Diabetes,25,Diet,131,Dining Out,3,Dinner,14,Disease,116,Divorce,12,DIY,112,DIY Fashion,34,Dogs,156,Doughnuts,5,Dress,29,Drink,27,Drinks,1,Drinks & Cocktails,4,Driving,3,Drugs,3,Dubai,15,Ears,2,East Africa,4,Easter,1,Easter Island,1,Easter Travel,1,Eco Travel,18,Ecuador,7,Education,87,Eggs,3,Egypt,4,Electronics,4,Electronics and Gadgets,2,Emirates,1,England,13,Entertainment,148,Enthusiasts,131,Entrepreneurship,40,Estonia,2,Eswatini,1,Ethiopia,2,Europe,110,European Food,8,Exercises,51,Eye,300,Eye Health,28,Eyebrow,56,Eyelash,20,Face,54,Facts,284,Fall Travel,43,Family,16,Family Travel,128,Faroe Island,1,Fashion,395,Fashion for Kids,2,Fashion for Man,12,Fashion for Woman,31,Fat Loss,91,Father's Day Cake,4,Father's Day Travel,1,Featured,212,Features,1913,Fertility,2,Festival Travel,25,Fiji,6,Finance,13,Finland,16,Fish & Seafood,13,Fitness,1177,Fitness & Exercise,219,Florida,69,Food,169,Food and Drink,14,Food Recipes,7,France,37,Frankfurt Motor Show,2,Free Travel,3,French,6,French Polynesia,5,Friendship,17,Fruit & Veggie Recipes,8,Fruitcake,70,Fruits,4,Fuel Economy,1,Fun,42,Funny,546,Gadgets,31,Galapagos,3,Games,12,Garden,24,Gardening,276,Gearheads,1,General,7,Geneva Motor Show,3,Georgia,14,Germany,18,Get Healthy,63,Ghana,2,Google,15,Graduation Cake,2,Gratitude,1,Greece,37,Green Living,5,Greenland,1,Grooming,89,Guatemala,2,Hair,1264,Hair Care,317,Hair Color,299,Hairstyle,65,Hairstyles,855,Halloween,41,Halloween Cake,12,Halloween Travel,9,Happiness,16,Hawaii,53,Hayden Panettiere,1,Headache,22,Health,847,Health & Fitness,300,Health Care,491,Health Insurance,1,Healthcare Tech,6,Healthy,12,Healthy Drinks,31,Healthy Eating,186,Healthy Habits,159,Healthy Living,345,Hearing,1,Hiking Travel,63,HIV/AIDS,4,Holiday Travel,28,Holland,1,home,31,Home & Garden,205,Home and Decor,483,Honeymoon Travel,128,Hong Kong,13,Horoscope,31,Hot Rod Power Tour,1,Hotels,71,Housekeeper,8,Hungary,3,Ice cream Cake,21,Iceland,41,Idaho,4,Ideas,11,Illinois,13,Imports,1,Impress a Girl,3,Impress Women,4,Independence Day Travel,1,India,36,Indiana,5,Indonesia,13,Indoor Gardening,69,Industry,5,Inspiration,58,Insurance,5,Internet,19,Internship,8,Interview Skills,37,Investing,12,iPad,2,iPhone,6,Iraq,1,Ireland,36,Island,60,islands,2,Israel,9,Italy,56,Jamaica,8,Japan,44,Jewelry,13,Job Search,47,Jordan,6,Just For Fun,2,Kansas,6,Kentucky,2,Kenya,2,Kids,1,Kids & Pets,10,Kitchen,67,Koala,1,Korea,2,Kyrgyzstan,1,Lamb,2,Laptops,4,Latin America,3,Latin American Food,1,Latvia,1,Laundry,6,Layer Cake,95,Leadership,44,Legs,1,Lemon Cake,18,Life,1,Life Hacks,273,LifeStyle,900,Lips,134,Lithuania,2,London,24,Long Distance Relationship,1,Los Angeles Auto Show,14,Louisiana,9,Love,80,Lowa,4,Lunch,5,Luxembourg,1,Luxury Travel,35,Maine,6,Maintenance,3,Makeup,608,Makeup & Beauty,11,Makeup Tips,77,Malaysia,1,Maldives,15,Malta,2,Mango Cake,3,Manicure,10,Marketing,10,Markets,11,Marriage,81,Marshmallow,3,Maryland,6,Massachusetts,9,Massage,5,Mauritius,6,Meditation,35,Men & Women,18,Men's Health,14,Menstruation,21,Mental Health,302,Mexico,74,Miami,13,Michigan,5,Microsoft,6,Middle Eastern Food,2,Mind,3,Mississippi,2,Missouri,7,Mobile,22,Moldova,1,Monaco,1,Money & Career,21,Monkey,1,Montana,12,Morocco,20,Mother's Day Travel,1,Motherhood,16,Motivation,2,Motorcycles,106,Motorsports,2,Mousse,2,Muffins,9,Mug Cake,14,Multiple Sclerosis,1,Muscle Cars,4,Muscle Cars & Hot Rods,3,Muscle Gain,2,Myanmar,9,Nail Art,195,Nails,252,Namibia,4,Nature,4,Nature Travel,102,Nepal,6,Netherlands,11,Nevada,23,Nevis,1,New Bikes,2,New Car Deals,1,New England,5,New Jersey,2,New Mexico,6,New Year Fashion,6,New Year's Day Travel,6,New York,55,New York Auto Show,3,New York City,20,New Zealand,47,Newfoundland,1,Newlyweds,1,News,334,Nicaragua,2,North America,11,North Carolina,6,North Dakota,1,North Ireland,1,Northern Ireland,1,Norway,20,Nutrition,447,Occasional Travel,9,Oceania,1,Offbeat,651,Ohio,6,Oman,5,Online Date Tips,1,Operating Systems,2,Oral,4,Oregon,10,outdoor,3,Outfits,166,Ownership,61,Pain,24,Painting,16,Pakistan,2,Panama,5,Pancake,19,Panda,1,Panna Cotta,3,Paraguay,1,Parenting,370,Paris,23,Paris Motor Show,4,Pasta,2,Pastry,7,Pebble Beach Concours d'Elegance,2,Pedicure,4,Penguin,4,Pennsylvania,10,People & Places,88,Perfumes,14,Personal Finance,164,Peru,21,Pets,172,Phoenix,1,Photo Feature,1,Pie,27,Pimple,3,Plum Cake,1,Poke Cake,10,Poland,3,Popular Ingredients,26,Pork Recipes,7,Portable Media,14,Portugal,21,Pound Cake,55,Prague,1,Pregnancy,112,Premium,1,Printer,2,Protein Bars,1,Psychology,1,Pudding,9,Puerto Rico,7,Pumpkin Cake,45,Qatar,6,Quick & Easy Recipes,11,Real Estate,72,Recalls,4,Recipe,1098,Recipes,52,Recipes & Meal Ideas,3,Recipes By Course,5,Relationship,137,Relationship Advice,70,Relationship Advice for Men,1,Relationship Advice for Women,5,Relationship Problems,23,Relationship Secrets,6,Relationships,53,Research,94,Resort,11,Restaurants & News,13,Resume,11,Retirement,10,Reviews,1,Rhode Island,2,River Travel,2,Road Trips,49,Romania,4,Romantic Getaways,15,Rome,5,Russia,16,Safety,5,Saint Lucia,1,Saint Patrick's Day Travel,1,Salad,6,San Miguel de Allende,1,Science & Tech,66,Scotland,10,Seasonal,56,Seasonal Travel,59,Security,9,Self Help,14,Self-Care,3,SEMA Show,5,Sex,7,Sexual Health,19,Shanghai Auto Show,7,Shaving,1,Sheet Cake,20,Shirt,4,Shoes,29,Shopping,10,Shots & Shooters,1,Side Dishes,4,Sightseeing Tours,2,Singapore,18,Ski Resorts,10,Skin,429,Skin Caare,1,Skin Care,609,Sleep,62,Slovenia,6,Small Business,163,Smartphone,28,Smile,1,Smoothies & Juices,3,Snacks,1,Social Media,44,Solo Travel,24,Solomon Islands,1,Somoa,1,Soth Africa,1,South Africa,14,South America,3,South Carolina,4,South Dakota,5,South Korea,3,South Pacific,2,Space Travel,14,Spain,33,Special,30,Special Cake,579,Special Feature,113,Special Features,448,Sponge Cake,15,Sports,22,Sports and Exotics,4,Sports Cars,8,Spring Travel,23,Squirrel,1,Sri Lanka,6,Strawberry Cake,22,Street Fashion,8,Stress Relief,35,Stroke,2,Student Travel,1,Style Guide,25,Summer Travel,53,Summer Vacation,8,Supercars,10,Sweden,19,Swiss Alps,1,Switzerland,20,Tahiti,1,Taiwan,3,Tanzania,1,Tarts,12,Tattoos,81,Taxes,7,Teas,2,Tech,89,Tech Advice,12,Tech Education,7,Tech Hacks,19,Tech Updates,2,Technology,13,Teen Advice,1,Teeth,5,Tennessee,6,Texas,57,Thailand,31,Thanksgiving Cake,4,Thanksgiving Travel,5,Therapy,3,Things to Do,165,Tibet,2,Tips,259,Tips & Tricks,6,Tokyo Motor Show,2,Tools & Skills,16,Top Stocks,1,Top Stories,1,Traditional Cake,4,Train Travel,23,Training,1,Transportation,22,Travel,224,Travel Advice,64,Travel Apps,1,Travel Guide,40,Travel Tips,149,Trends,7,Trucks,1,True Health,5,Tunisia,2,Turkey,10,Turkish,1,Tuscany,1,TV,2,UAE,10,UK,40,Ukrine,1,Understanding Women,9,Urban Travel,47,Uruguary,1,USA,629,Utah,12,Uzbekistan,1,Vacation Travel,245,Valentine's Day Cake,7,Valentine's Day Travel,1,Vanilla Cake,17,Vegetables,3,Vehicle Travel,2,Venezuela,1,Vermont,4,Victoria Falls,1,Video,5,Vietnam,5,Virginia,5,Waffles,3,Washington,15,Washington DC,20,Waxing,19,Web & Social,17,Wedding,73,Wedding Cake,549,Wedding Dress,30,Weddings,39,Weddings Travel,4,wei,1,Weight Gain,29,Weight Loss,755,Weird,172,Wellness,193,West Indies,2,Wi-Fi,2,Wildlife Travel,13,Winter Travel,56,Wisconsin,5,Women Lifestyle,23,Women's,124,Women's Health,173,Work Environment,77,Workout,8,Workouts,81,Worldwide,155,Wyoming,2,xxx,1,Yemen,1,Yoga,85,YouTube,3,Zadar,2,Zambia,3,Zimbabwe,4,
ltr
item
News: Costs to Consider When Hiring a Bookkeeper
Costs to Consider When Hiring a Bookkeeper
https://1.bp.blogspot.com/-Gk3_Q7bERog/XLhrPz-kHcI/AAAAAAAAd5A/GyhB7ullkN0nss_iuhWZihJBDPQdxTSrwCLcBGAs/s1600/Costs%2Bto%2BConsider%2BWhen%2BHiring%2Ba%2BBookkeeper.jpg
https://1.bp.blogspot.com/-Gk3_Q7bERog/XLhrPz-kHcI/AAAAAAAAd5A/GyhB7ullkN0nss_iuhWZihJBDPQdxTSrwCLcBGAs/s72-c/Costs%2Bto%2BConsider%2BWhen%2BHiring%2Ba%2BBookkeeper.jpg
News
https://news.dearjulius.com/2019/04/costs-to-consider-when-hiring-bookkeeper.html
https://news.dearjulius.com/
https://news.dearjulius.com/
https://news.dearjulius.com/2019/04/costs-to-consider-when-hiring-bookkeeper.html
true
637333457269776417
UTF-8
Loaded All Posts Not found any posts VIEW ALL Read More Reply Cancel reply Delete By Home PAGES POSTS View All RECOMMENDED FOR YOU LABEL ARCHIVE SEARCH ALL POSTS Not found any post match with your request Back Home Sunday Monday Tuesday Wednesday Thursday Friday Saturday Sun Mon Tue Wed Thu Fri Sat January February March April May June July August September October November December Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec just now 1 minute ago $$1$$ minutes ago 1 hour ago $$1$$ hours ago Yesterday $$1$$ days ago $$1$$ weeks ago more than 5 weeks ago Followers Follow THIS PREMIUM CONTENT IS LOCKED STEP 1: Share to a social network STEP 2: Click the link on your social network Copy All Code Select All Code All codes were copied to your clipboard Can not copy the codes / texts, please press [CTRL]+[C] (or CMD+C with Mac) to copy