![]() ![]() ![]() You may need to buy supplies such as ink here and there. I budgeted $25 a month on advertising for this bookkeeper, as those costs truly are relatively low and only optional expenses.Īll you really need for office supplies as a bookkeeper is a computer and maybe some paper and pencils. I don’t really spend anything on advertising, but sometimes it is worth it to do. I budgeted $46 a month for insurance.īookkeepers need quality internet connection, and once again, you’ll most likely be using it for both personal and business, so I estimated about $30 a month for business purposes. The nice thing about insurance is that it is relatively inexpensive, and it covers what you need. I budgeted $50 a month for phone expenses in this example.īusiness insurance is important to keep your personal assets out of reach if a client is unhappy and takes legal action against you for any reason. Most likely you’ll be using your regular cell phone as your business phone, so it’s used half the time for business, and half the time for personal matters. Phone, Insurance, and Internetīookkeepers use their phone for business, talking to clients, booking appointments, and so on. One benefit to hiring a virtual assistant is that you can pass off any more automated tasks for you so you can focus on the actual books for your clients and increase your client base. This bookkeeper has a virtual assistant who works for her 10 hours a month at $20 an hour, which comes out to about $200 a month. RELATED: How to Pay for Client’s QuickBooks Online Subscriptions: Deals and Tips for Bookkeepers Hiring a Virtual AssistantĪnother expense a bookkeeper could have is hiring a virtual assistant to do some marketing, invoicing, answering emails, or other small tasks. So this bookkeeper who has eight clients would be spending $280 a month to hold their subscriptions. My ProAdvisor QuickBooks Online Plus subscription discount is $35 a month per client. Plus, as a bookkeeper, I get QuickBooks much cheaper for them than they would have otherwise. This offering is attractive to clients so they don’t have to worry about keeping a subscription. You can charge your client for their subscription, but I personally like to add it into their bookkeeping plan with me. The most expensive thing I could think of that bookkeepers need to spend is on QuickBooks software, which is a cornerstone of your bookkeeping business. What are a Bookkeeper’s Expenses Each Month?Ī bookkeeper’s expenses each month are relatively low, which is why this career is so appealing to many who are looking for a part-time side hustle. With these eight clients, this bookkeeper brings in $4,050 every month. Of course, you may need to spend some time working on your own business, doing marketing, updating your website, or doing your own books. ![]() The work is broken down into about 20 hours of billable time each week or 80 hours per month. She has a couple of clients who are charged $500 a month, a couple at $400, and a few at $250. With her biggest client, she works one day a week and charges $1,500 a month. It’s important to understand what the differences are in clientele based on the size of their company and the number of accounts you are reconciling. This bookkeeper has eight clients that are a variety of sizes. The last thing to decide is if you are happy working with the hourly rate that the fixed rate will average out to. ![]() It’s good to overestimate a little from what your average time may be on any given task. One thing to note as you’re figuring out what to charge is what tasks you are doing for each client and how much time each of those tasks typically take. When I created the fixed rates for these clients, I wanted it to add up to roughly $50 an hour. ![]()
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