What's it Worth? Saving You Time, Money & Emotion
A quick online search for bookkeeping pricing often returns many flat-rate options that on the surface seem reasonable. However, more often than not, these packages limit the client to a specific number of transactions per month and also may contain add-ons that aren’t disclosed in advance. These hidden costs add up fast and can lead to bookkeeping services that cost substantially more than what you signed-up for. In most cases, these bookkeepers are either subcontracted, work from home or are located outside the U.S.
At J. Zollo & Associates, Inc., we have more than 22 years of experience. We understand that no two clients are alike, even if they’re in the same business. Each is unique and has their preferred way of doing things. Quality bookkeeping is not simply a data entry relationship. This is a sophisticated working relationship with a lot of communication between your business and ours.
Our business is getting on the same financial page as our clients and staying there no matter how your business changes and grows. Don’t be misled by the countless “one size fits all” bookkeepers you’ll find online. Managing your books on budget is a very different animal than having your books managed by a budget bookkeeper.
How Much is This Going to Cost?
The simple answer is it depends. It truly depends on many variables and unique needs. For example, what is the company size and complexity, and what are the number of monthly transactions and services required? How many bank accounts or credit cards do you have? Will we be processing bills and making payments, entering invoices, or receiving payments and making deposits? How is the payroll processed, and how many employees do you have? Do you offer benefits that need to be managed? Or will we be providing monthly reconciliations and review only?
Do the Math
The average cost of a bookkeeper is between $20 to $30 per hour, plus benefits, employer tax and Worker’s Compensation insurance to perform basic bookkeeping duties that often require reporting to a manager or supervisor. These basic duties would include entering and paying bills, invoicing and receiving payments and reconciliation of bank and credit card accounts.
The average cost of a controller or CFO is $65,000 to $132,000 per year, plus benefits, employer tax and Worker’s Compensation insurance, and would perform more advanced accounting duties including: drafting and analyzing financial statements, updating the general ledger, filing payroll and/or sales tax returns, preparing and maintaining budgets, creating policies and procedures, monitoring compliance issues, and working directly with the CPA.
If you hire a part time bookkeeper for $20 per hour for 15 hours a week, you will spend $1,200 per month plus employer expenses.
If you hire a full charge bookkeeper or controller, you will spend $5,400 per month (based on $65,000 per year) plus employer expenses.
We currently have clients with monthly bills as low as $150 and as high as $4,000 per month based on size and needs. On average, our clients spend $500 to $2,000 per month for ALL services mentioned above. Plus our bookkeepers are cross-trained so that you’re always covered!
The following are some general considerations:
- You are not obligated to us via contract. We provide only an engagement letter outlining the services we have discussed and that you’re expecting.
- You receive a detailed monthly invoice outlining the services rendered, when they occurred and the time they required to complete. We are very time- and cost-conscious and accountable for every minute. It is a very transparent process, and you will know exactly what you’re paying for.
- Give us one month of processing your books. If you’re unhappy for any reason, including our fees, you will not be charged. Contact Us for a Free Quote!
At J. Zollo & Associates, Inc., we are insured and bonded and will provide a certificate of insurance to you upon engagement of our services.