At the end of the year, during tax time, you need to send anyone who works for you as a contractor a special form called the 1099. Regular employees receive a W-2 in January showing their wages from the previous year. Contractors perform special services for companies and aren’t hired on as employees. Another extra task that I do for this client is to write checks for this preschool, so I am a signer on the bank account. It’s unusual for the bookkeeper to be able to write and sign checks, but because it is such a small business, we have our duties divided a little bit differently than it may normally look. Occasionally, there’s a problem where I need to dig to find the solution, or my client has a special request I need to take care of, and in those cases, it will take me the full five hours.

• One way you can determine how much to charge is to tie each task to a dollar amount.
• Note that this pricing template is intended for you to determine the pricing for your services and is not necessarily meant to be delivered to your clients as an outline of all potential costs.
• This is likely because of a high number of part-time bookkeepers and overseas freelance bookkeepers.
• Our cloud accounting solution utilizes 3rd party cloud-based financial software and the client must agree to use either QuickBooks Online or Xero as their main accounting system.
• I will use QuickBooks Online Simple Start for your bookkeeping, which has a $25 monthly fee that is your responsibility.

At the beginning of your working relationship, there could be quite a bit of cleanup you have to do for the client’s books, and that can be time consuming. You’re also learning their business and don’t know exactly what tasks you will be doing. 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.

All Monthly Bookkeeping Packages Include:

However, freelancers with these types of credentials are often more expensive. Cheaper bookkeepers are often part time and work on the weekends or night, often making it difficult to communicate with them and train them. The freelance bookkeeper hourly rate in 2021 averages out to be about $20.17, but a business that is looking for a reputable and consistent freelancer may struggle to find someone at this price. This is likely because of a high number of part-time bookkeepers and overseas freelance bookkeepers.

We also utilize HubDoc as a means of securely receiving bank and credit card statements necessary in performing our work. Create a plan custom to your needs, which may include a dedicated CFO, accrual accounting and GAAP reporting, weekly KPIs and reporting, and more. Fixed fee basis so you know exactly what it will cost each month. We will give you an exact quote for the work before you start, and firm deadlines for getting it done. Our agreement is done in writing and spells everything out so you know exactly what you are getting and what it will cost. FRB, SVB, Mercury all have stable systems that make monthly accounting faster, and make bank reconciliations easier.

How to Price Bookkeeping Services for Small, Medium, and Large Clients

The good news is that using the right fintech and accounting systems can save a startup money on bookkeeping by automating the flow of data and automatically categorizing transactions according to GAAP. Taxory is a small business accounting firm providing accounting services in Mississauga, Ontario and the rest of Canada. Designed for entrepreneurs, startups, or small businesses with basic bookkeeping needs. We strive to provide the best accounting services for corporation bookkeeping services pricing in Mississauga. You can even start with Xendoo’s free trial which includes a complimentary calendar month of bookkeeping plus a profit and loss statement and balance sheet. At the bookkeeping level, this often means that for an individual transaction it may require more steps to record the transaction. Any of the above types of bookkeepers can be a virtual bookkeeper—those bookkeepers who interact with their clients and do all their work virtually or remotely.

• This preschool employs six teachers and hosts about 100 students.
• We know every small business is unique, so when necessary, we will work with you to create custom bookkeeping packages to suit your specific needs and goals.
• So, whether you need bookkeeping services, outsourced accounting services, fractional or outsourced CFO services, or a package that provides flexibility, we are ready to help.
• This ensures that the services and packages are of the highest quality.
• After a few months of working at an hourly rate, you can send your client a proposal or contract, spelling out the tasks you will be doing and what the fixed monthly pricing will be moving forward.
• Once those hours are used up the client can choose to purchase another block as suits their budget and or whatever they need to get done.