On Average, How Much Does It Cost To Hire A Monthly Bookkeeper?
If you’re like us and run a small business, you’re probably focused on building and growing. However, this can quickly lead to an obsession with the books: pouring over every invoice, bill, and expense sheet to make sure you aren’t spending too much or missing unnecessary risks.
Because we’re bookkeepers, it’s our job to obsess over books – but this isn’t the case for most other small businesses! Outsourcing your books to a bookkeeper that charges by the month is a great way to solve your “obsession.” It frees up more time for you and your employees, and the monthly amount you’ll spend is cheaper than doing the bookkeeping yourself!
How Much Can I Expect To Budget For Monthly Bookkeeping?
The month-to-month complexities of your business can change the cost of having an outside bookkeeper because different businesses have different needs! Depending on the size of your business, your kind of business, and the bookkeeper’s level of involvement with your operations, the price you pay per month can vary.
Because every business is unique, it can be hard to give an exact number; however, here’s what you can expect to budget depending on the size of the business:
- Startup Business – $150 to $400
- Small Business – $400 to $750
- Medium Business – $750 to $2,500
- Large Business – More than $2,500
These costs aren’t that much when compared to having an existing employee learn to do the bookkeeping; even for a large business, spending $2,500 a month for a bookkeeper is much cheaper than bringing in another employee. By outsourcing your monthly bookkeeping, you get more than just cost savings, too!
What Do I Get From My Bookkeeper?
A good bookkeeper will offer different solutions to make sure small business owners have the plan and knowledge they need to succeed. As part of regular monthly bookkeeping services, a small business should receive from their bookkeeper payroll plans, credit card and bank account reconciliation services, and a professional pair of eyes (or multiple pairs) to review every transaction. By taking these roles off the hands of small business owners, monthly bookkeepers save them so much time!
Bookkeepers can also save small businesses money in more ways than already mentioned. They do what’s literally in their job title, organizing the books as new information comes in. When it’s time to file taxes or send financial information to an accountant, everything will be organized and filed in a precise way.
Monthly bookkeeping is also the best way to prevent fraud, assess the investments and projects that are worth your time, and make the right adjustments that will keep your business growing. By staying on top of all the information coming in every month, Trillium bookkeepers catch and correct errors, get business financing for our clients, and make sure your accountant claims every possible deduction!