The amount a bookkeeper should charge per hour depends greatly on their experience and knowledge. If you are new to the profession, you will need to establish yourself before you can charge more for your time, so you might start out charging clients closer to $15 per hour. If you are more experienced and have some certifications, you might charge closer to $25 per hour.
Not only do your experience and knowledge factor in, but so can your location if you are a traditional bookkeeper who deals with local clients. A well-known established bookkeeper in a high cost of living area could charge $50 per hour or more. If you are a bookkeeper who provides services virtually, you most likely will not have to factor in your location as much when deciding what to charge.
If you want to be able to charge your clients more for your services, getting certified is a great idea. Being certified illustrates your dedication and your knowledge in the profession. You can become a certified bookkeeper through the National Association of Certified Public Bookkeepers (NACPB) or the American Institute of Professional Bookkeepers (AIPB), and also earn certifications for specific software like QuickBooks or Xero.
Can a bookkeeper call themselves an accountant?
No, a bookkeeper cannot call themselves an accountant. To become an accountant, there are educational requirements. A bookkeeper does not require any degree or certification. Although, it would be wise to hire a bookkeeper who has taken the initiative to become certified.
How many hours a week do bookkeepers work?
The number of hours a bookkeeper works depends on the number of clients they have. A small business bookkeeper can spend anywhere from 2-10 hours a week on each client, it varies based on each client’s individual needs.
How many hours does a bookkeeper work?
The number of hours a bookkeeper works depends on a couple of factors. If you’re a bookkeeper who works for a bookkeeping company, you are most likely going to work 40 hours a week. There may be an opportunity for overtime, especially during tax season, but it is a standard 40-hour per week job. If you are a freelance bookkeeper, you can typically choose how many hours each week you want to work. It can be 20 hours a week, 60 hours a week, or whatever you decide. It also depends on how many clients you currently have. If you have 10 clients, you will not have as much work to complete each day compared to if you have 30 current clients, so the hours can vary.
Being a bookkeeper means having a strong ability to multitask. You will not usually sit down and work eight hours straight on one specific client’s books. Instead, you will be working on multiple clients’ bookkeeping needs throughout the day. If your clients have a lighter day where they do not have many transactions, you will have less work to do and can either work on a different client’s needs or maybe be done for the day. Freelance bookkeeping tends to be a fairly flexible profession.
How much do outsourced bookkeepers charge?
Although outsourced bookkeepers tend to charge less than in-house bookkeepers, the actual amount can vary. Remember, you are not paying for benefits, nor providing a physical space for an outsourced bookkeeper, so this saves some money. On average, a business can expect to pay anywhere from $250 to $2,500 a month to outsource their bookkeeping needs, depending on the number of transactions and accounts, and the intricacy of the transactions.
What are the daily tasks a bookkeeper does?
Some tasks that can be completed daily by your bookkeeper include recording and organizing the financial transactions from the day, creating journal entries, recording any payments made, and completing any reconciliation that is needed.
What are the weekly tasks a bookkeeper does?
Some tasks can be done every week, these include:
- Running Payroll
- Review Inventory
- Review timesheets
- Categorize transactions
- Create Journal Entries
What is a full charge bookkeeper?
A full charge bookkeeper is a bookkeeper who is exclusively responsible for the accounting of a business. They tend to report directly to the owner and oversee various accounting clerks.