Bookkeeping Services; Prices or How much does it cost to hire a Bookkeeper?
How much does it cost to hire a Bookkeeper? Interesting question. The answer is simple, but requires an explanation.
If you are looking for number crunching or think that is all that Bookkeeping is; you might not be understanding what a Bookkeeper can do for you.
This isn't a simple equation of: go to the cafe for a soy cappuccino and pay $4 exchange.
The simple answer is; it depends.
Let me explain: Bookkeeping is a sophisticated and diverse job. It includes entering data into an Excel Spreadsheet (or Google Sheets if you are particularly online). Demonstrating where all your money is going, as well as why it isn't accumulating in your savings account.
It will show you where you are leaking money, particularly useful if your approach to problems your business faces is “buy stuff” ~ be that tools, equipment, software subscriptions, etc. and are those band-aid solutions a keeper, or simply a stop-gap measure?
Some things, like Receipt Bank, will help keep your Tradesmen (for instance) on top of their invoices game, and when properly implemented can reduce the amount of work a Bookkeeper needs to do.
Other things, like always eating out for lunch, seems like a good choice, because it is so convenient.
But when you see that you have spent over $4,000 just on lunch for the year, the convenience doesn't seem as necessary as it did in the moment.
Delaying gratification; moving away from the buy now, pay later mentality, is often an important part of getting a business off the ground. And it can even save an established business that is tanking financially.
But if you don't know the facts, how do you even know what choices you need to make?
An experienced professional, giving you information without emotion.
A Bookkeeper who is experienced and on their game can show you all this information.
Once you know that these nice things are actually not adding the value to your business that you thought they might, let them go. Regroup.
You see this happen in professional sporting events, like Cricket, Footy, Rugby, Basketball, Formula 1, etc.
Whilst the athlete is doing their thing, they have a team of support staff who are keeping track of the big picture.
As a business owner, you might not only be doing the work that you are offering, but you also are doing the sales and marketing. And the recruiting. As well as the admin. Plus the cleaning.
How are you also going to be on top of all the other financial details?
A bookkeeper will help you leverage what your business can do.
You are doing the hard work. You have the client base, and the product.
But if you don't know how much everything costs, and where you money is, that is not going to work.
In fact, you might be subsidising your clients, or your suppliers.
Which isn't what you want 🙂
What makes trying to hit a piñata so funny for the onlookers is that the person is blind folded, trying to hit a paper mâché animal to get the lollies.
But that is not the way you want to conduct your business ~ thrashing around blind folded, egged on by the cheers of onlookers, hoping to eventually get lucky….
So, what are the prices of Bookkeeping Services or How much does it cost to hire a Bookkeeper?
The real cost of Bookkeeping might be better asked as, can you afford not to have a great bookkeeper?
That is our take on “How much does it cost to hire a Bookkeeper?” Over to you….
Thank you for reading our post. Whilst I have not specifically answered the question, I can say the industry average around Melbourne is about $65 an hour. But what does that mean? How much work does your business need each month? By simply supplying an hourly rate, that does not answer the question of how much will monthly bookkeeping cost you. What I have hopefully done is shown you that bookkeeping, done by an excellent bookkeeper, can actually transform your business, and help you to achieve the dreams you had when you started your business. You didn't start it simply to create your own job, but without all the right systems in place, and knowing how your business is going, being a business owner can simply become a chore, but you can't just hand in your notice a leave as you would if you were an employee.
Let's make your business successful, together.
If we sound like the Bookkeeping Service that you would like to partner with, please get in touch.
If you are looking for a Melbourne Xero Bookkeeper then please read the Blog Post. Your search might be over 🙂
We look forwards to hearing from you.
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Thank you for your time, and have a great day!