Bookkeeping prices vary a lot, and a quote that looks cheap can end up costing more than one that looks expensive. The useful question is not "what is the going rate?" but "what am I paying for, and what will change the price for my business?" This guide walks through the things that drive the cost, the common ways bookkeepers charge, the one-off costs people forget, and what our own plans cost.
What you are paying for
Monthly bookkeeping usually covers the routine work that keeps your numbers current:
- Recording and categorizing every transaction from your bank, card and payment accounts
- Reconciling each account against its statement, so the books match the bank
- Closing the month and preparing a profit and loss statement and balance sheet
- Keeping the books organized for your CPA at tax time
Some providers include more, such as paying bills, sending invoices, following up on late payments, recording payroll or writing a short monthly summary. Others charge for these separately. When you compare quotes, compare the work included, not just the number at the bottom.
What drives the price
1. How many transactions you have
Volume is the biggest factor. A transaction is usually one line in a bank, credit card or payment account feed. A business with 80 transactions a month needs far less time than one with 1,500, so most providers set their prices by volume bands.
2. How many accounts you have
Every bank account, credit card, loan and payment account (such as PayPal, Stripe or Shopify) needs to be reconciled each month. More accounts means more reconciliations and more places for errors to hide.
3. The condition of your books
If your books are current and reconciled, monthly work can start straight away. If they are months behind, or have been kept in a way that needs fixing, there is usually a one-off catch-up or clean-up project first. This is often the biggest surprise in a first quote.
4. Extra services
Accounts payable, accounts receivable, payroll recording, inventory, deferred revenue, budget reports and class or location tracking all add time. You may not need any of them, but if you do, make sure the quote includes them.
5. How complex your business is
A consultant who invoices a few clients a month is simpler to keep than an online store that sells on several platforms, holds stock and collects sales tax. More moving parts means more time each month.
How bookkeepers usually charge
- Flat monthly fee. A fixed price for an agreed scope, usually set by transaction volume and number of accounts. Easy to budget for, and you are not watching the clock when you ask a question.
- Hourly. You pay for the time spent. This can suit very small or irregular work, but the monthly bill is harder to predict, and you may hesitate to ask for help.
- Per project. A fixed price for one-off work, such as a catch-up, a clean-up, setting up new software or preparing for year-end.
Whichever model you choose, ask what happens when your volume changes, how much notice you need to give to stop, and whether there is a long-term contract.
One-off costs to plan for
- Catch-up or clean-up work if your books are behind or need fixing
- Software setup, such as a new QuickBooks Online file and chart of accounts
- Moving software, such as from QuickBooks Desktop to QuickBooks Online
- Year-end preparation, so your CPA has what they need
Costs that are not bookkeeping
Some costs sit next to bookkeeping but are usually separate. Your accounting software subscription, your payroll provider's fees and your CPA's fees for tax returns are normally paid directly to those providers. A bookkeeper keeps the books; your CPA prepares and files your tax returns.
Doing it yourself, hiring or outsourcing
Doing your own books costs no fee, but it costs your time, and mistakes can be expensive to fix later. Hiring an in-house bookkeeper means a salary plus payroll taxes, benefits, software, training and cover for holidays and sick days. Outsourcing means a monthly fee for an agreed scope, with no hiring or payroll costs. Our savings calculator helps you compare your own numbers.
What our plans cost
Our prices are published, so you can see where you are likely to land before you talk to us:
- Starter, $299 a month: up to 500 transactions and 2 accounts
- Growth, $549 a month: up to 1,000 transactions and 6 accounts, with a cash flow statement and a written monthly summary
- Premium, $799 a month: up to 2,000 transactions and 12 accounts, with payroll runs and inventory or deferred revenue
Over 2,000 transactions a month, we give you a custom quote. Paying yearly gets you 2 months free. Catch-up work starts from $149 per month of backlog, with a 3-month minimum. There is no long-term contract; you can cancel with 30 days' notice. Your final price depends on your volume, accounts, payroll and the condition of your books. See the full details on our pricing page.
How to get an accurate quote
- Count roughly how many transactions go through your accounts each month.
- List every bank, card, loan and payment account.
- Note which software you use and how up to date your books are.
- Decide which extra services you want, such as bill pay or payroll recording.
With those four answers, any good bookkeeper can give you a firm price instead of a guess.
The bottom line
Bookkeeping cost comes down to volume, accounts, the state of your books and the services you need. Compare what is included, plan for one-off catch-up or setup work, and choose a pricing model you can budget for.
See our plans and prices, or get a custom quote for your business.
General information only, not financial, tax or legal advice. Prices on this page are our own and can change; the pricing page always has the latest. Questions? Book a free 30-minute consultation.