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Freelance Bookkeeping Rates – How to Charge For Your Bookkeeping Services

New to the bookkeeping business?

Then you are probably uncertain about how much to charge for your services. This is business advice for Bookkeepers and other consultants as well.

When I began my bookkeeping business in 1999, so was I. Here are some tips on what to charge.

One lesson I learned quickly is that EVERYBODY wants a deal and they think that you should give them one, but the minute you do, they will undervalue your services and consider it to be a permanent discount.

Don’t make the mistake of charging too little – Use reward incentives and bonuses for new client referrals instead of lowering your price for any customer. Even once can be the “Kiss of Death” to your rate sheet.

Do not guess at how much to charge, either. When you begin you need to seek out other professionals in your field and simply ask them what the rates are that they are charging in that area. Ask them if there is a sliding scale and if so, what criteria they use to determine those variables.

Here is what I figure –

Small business clients would rather pay a flat fee than an hourly rate. Most bookkeepers charge an hourly rate, but will charge a flat fee based on the number of transactions that need to be entered, plus $5-10 (if they don’t know the client in advance). You must also calculate these costs into your calculations – Workers Compensation, self-employment tax (10% for USA), and business insurance.

For a basic bank and credit card reconciliation, data entry and set of monthly financials you…

Source by Mischelle Watkins

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