General Bookkeeping rates

Hello!

I would also like to know the answer to Walt's question, as I am also thinking about doing bookwork from my house.

I also would like to know what responsibilities a bookkeeper has versus an accountant. I have been working for a small employer for the last 7 years, and I do everything but the year-end taxes. I don't want to do this as a bookkeeper. But I am unsure as to who does what. Does anyone have a simple aswer to this?

Thanks

as for the rates one charges ... it's whatever the market will bear ... contact your local chamber of commerce ... they should have some studies/details for your area of the country ...

bookkeeper vs. accountant (abbreviated version) ... the bookkeeper does the day-to-day upkeep of the books ... the accountant checks the bookkeeper's work to ensure compliance with government regulations and make [year-end] adjustments as necessary ...

taxes ... can be done by anybody who understands the tax laws ...

you've probably have seen this, but following is a link to the 2006 rate survey ... interesting information

http://accountant.intuit.com/p...

I am in Maryland, and I charge $35.00 per hour and no one seems to mind.

I have a CPA that is backing me up on this.

Hope this helps

I am in California and charge $50.00 an hour for bookkeeping.

I am in Kansas and am charging $35/hr for bookkeeping and $60/hr for accounting. These rates are half of what the CPA's are charging in my area.

Hope this helps,
Crystal

My name is bhaskar Thakkar. I am president of BT Associates, Chartered Accountants India. Presently we are providing services in the filed of Book Keeping, Tax Processing (1040 / 1120), SOX compliances, FAS109 calculation etc.. to CPA's in USA. If you can have some business synergies do contact me

I feel the rates mentioned on the survey does not reflect the rates existing in the market. Even though CPA's insist that these rates do prevail, there are many other who are doing book-keeping at a much lower rate. Thanx to outsourcing the rates have dramatically come down.

I get anywhere from $25 to $60 per hour for bookkeeping, and $60 to $75 for accounting work. I get $110+ for incomes tax work. I'm in Chicago.

In some cases, I charge a monthly retainer where the retainer is based on the average number of transactions for a 3 month period of time (using the 3 month average prior to my taking the engagement). Once I accept the engagement, I adjust the monthly retainer every 6 months (I check the average number of transactions (for both the prior 3 months and the prior 6 months and adjust the monthly retainer accordingly, using whichever average is higher). Monthly retainer starts at $300 per month (based on $0.25 per transaction plus $100). If the client is a NEW business, I always start them at $300 per month and go from there (making rate adjustments as above).

Thanks for this link Mitch. I hope you don't mind if I borrow it. I've seen this question posted in some of the other forums.

Amy

no problem ... happy linking :)

Would you please clarify what you mean by "per transaction". Would you consider a receipt, a bill/invoice or a credit card statement a transaction?

I am in Massachusetts and charge $40/hour for bookkeeping with some occasional business financial analysis. I provide "CPA-ready financials" so I guess there is some accounting work included, though I have never differentiated the rate. I recently increased from $35 when I realized clients were a little too enthusiastic about my rate. I have surveyed my peers locally who charge anywhere from $25-35.

How are you differenciating bookkeeping work from accounting work?

I am in MD, and I charge $35 per hour, I have done this for Two years, so in Jan 2008 i will be raising it to $40.00

Hi Walt,

When I first started 3 1/2 years ago I only charged $10/hr because I didn't know QB's. I learned QB's, became certified and raised my rates after 2 years. When I raised my rates I randomly called Pro-Advisors in other states where the housing and employment market was similar to mine and told them where I was from and that I was trying to get ideas on rates. I found the average rates to be $35-60 per hour. I charge CPA's $30/hr so they can charge their clients more and I charge all my new clients $45-$50/hr. I've only had one not call me back when I gave them my rates - the rest I have engaged, retained and received referrals from! I try to give the best service possible and make them never want to leave! My time is precious being a stay at home mom who works part-time so I can be choosy about what I do and how much I charge. I'm in the outskirts of DC but I called bookkeepers in Greenville, SC and got the same rates from them. Hope that helps! It's harder to go up after the fact - easier to get it on the front side and then don't bill all your hours if you need a learning curve.
Sandy

I'm in Yuma, Arizona and I charge $45.00 per hour.

I am in Southern California and currently charge $65-$75 per hour, doing both bookkeeping and accounting work.

I'm in San Jose, California and charge $45/hour for general bookkeeping, and $65/hour for "catch-up work." Most clients are grossing 200K per year or more and have no problem paying our rates. I charge $140/hour for consulting and training and a $100 setup charge for most new clients. My schedule has been booked consistently for over a year now so I'm thinking about raising my rates to $55/hour for bookkeeping and $75/hour for catch-up work. Hope this helps.