If you are reading this blog it probably means you are looking into hiring a bookkeeper and/or you already have a bookkeeper and are wondering if you are being charged appropriately. To first satisfy your curiosity, bookkeepers charge between $30 and $80 per hour. Why such a large range? Well the answers are numerous.
The very first thing you need to realize is that not all bookkeepers are created equal. There is a huge range in abilities and training. A very junior, new to bookkeeping person would definitely charge on the lower end of the scale – or at least they should. With experience and training the rates do increase. It is also important to note, that junior or inexperienced bookkeepers will generally bill more hours as they are not as efficient as the more qualified bookkeepers so you may end up paying approximately the same amount without getting the same quality of bookkeeping.
Secondly, the rate also reflects the type of work that you want done. If you are looking for basic data entry – posting invoices, bills and payments – you should only be paying the lower rates. However, if you require someone to not only do the basic bookkeeping, but to complete the month end bookkeeping process, prepare government remittances and to act more as a Controller for your company you should be paying the higher rates.
Another factor is the time required. If you require only a day per month, quarter or year, you will end up paying the higher hourly rates. If however, you require someone a few days a week the rate will be slightly lower to accommodate a volume discount.
The above scenarios are just guidelines. For every company and bookkeeper out there, there are numerous factors involved that will dictate the appropriate compensation that is fair to everyone.
So…
How much would you pay for a GREAT bookkeeper?
Call me today at 905.775.9233 or email at Carolyn@intellibizaccounting.ca to see how we can help your company grow!