The first step in determining how much a bookkeeper will likely cost your business is determining what services you will need them for. What Do You Need a Bookkeeper For and How Long Do You Need Them? When needing to hire a bookkeeper, however, there are several cost factors that feed into how much it’ll cost to engage a bookkeeper:ġ. Deposits/other transaction confirmation.Monthly financial statement preparation.If you need help from a bookkeeper than an accountant, here is a brief list of the many day-to-day financial tasks they can help you with: Bookkeepers’ focus is on the day to day and accounts focus on the long-term strategy, the bigger picture. While bookkeepers are responsible for recording daily transactions, accountants use this compiled information to generate financial models and make expert interpretations on what financial moves to make and when for the biggest returns. There is a certain amount of clerical work associated with bookkeeping and herein lies the difference between bookkeeping and accounting. What Do Bookkeepers Do?īookkeepers are professionals who assist in account preparation and document daily financial transactions. If you’re thinking of employing a bookkeeper for your business, we’ll break down everything bookkeepers can do and some factors that figure into the cost of hiring one. A skilled bookkeeper can help you avoid fines, fraud, or compliance issues. But can you afford a bookkeeper’s salary?Įvery business owner has a million and one things to worry about. However, with the potential of errors and penalties, it is crucial to stay on top of your bookkeeping and might be worth bringing in help. When running a business, keeping track of the day in, day out, and overall financial health of your company is of the utmost importance, whether you run a startup, a small business, or a large corporation.

Freelance bookkeeping hourly rate