How much should BOOKKEEPING cost?

QuickBooks 30-day free trial + 30% off for 12 months:
quickbooks.intuit.com/partner...
Check out my pricing template ($50):
qbkaccounting.com/pricingtemp...
Check out my VALUE PRICING ($250) course (all templated included):
valuepricing.net
How to become a Certified Bookkeeping Professional:
• How to become a Certif...
Timestamps:
00:00 Intro
01:30 Internal Bookkeeper Cost
04:57 "Outsourced" Bookkeeper
06:24 Ballpark formula for pricing
08:20 What affects pricing (effort vs. value)
12:15 Charging by the hour
15:40 Charging per entry
17:01 Fixed Price (Value Pricing)
20:51 Subscription Pricing
25:25 My recommendations
26:18 My spreadsheet and last comments
Call our office 954-414-1524 to setup a private training/consultation about QuickBooks, Excel, Accounting/Bookkeeping, Taxes, and/or General Business Consulting rates start at $375 for first consultation depending on length and consultant required. E-mail Hector your questions [e-mail]
To setup a 30-day free trial of QuickBooks Online and then a 30% discount for 12 months: www.quickbooksoffer.com/?cid=i...

[@HectorGarciaCPA]

If you are an accountant and bookkeeper trying to figure out how to price, you will love this video! If you are a small business owner looking to hire a bookkeeper, it’s important you understand how how much is the avg. salary and how we price these services.

[@lilianbarrio9471]

Thank you so much for share your knowledge and experience, it is pretty useful!!

[@heathertulloch2877]

Pp

[@cristalp1458]

Hello @HectorGarciaCPA I am looking at your pricing template and would like to know... Can I edit it to fit what I provide? Thank you in advance for your time.

[@HectorGarciaCPA]

@@cristalp1458 yes, that’s how it meant to be used

[@cristalp1458]

⁠thank you! I wasn't certain. Thank you for your quick reply

[@JCLPAA]

This info is right on time! I recently reached out to other CPAs to find out their hourly rate as I was trying to figure out the rate I should charge or offer my services for a flat amount. Your content is very valuable and I appreciate you taking the time to post insightful videos.

[@21earlthepearl]

This is the best overview I've seen. Thanks, Hector.

[@stevenanderson1704]

This is one of the most in depth, succinct and easy to understand videos on pricing your bookkeeping services I have yet to see on youtube.

[@HectorGarciaCPA]

Great! Glad you enjoyed it

[@gabrielaperaza1275]

Hector. I found your video very useful. Thank you very much. I always watch your videos and you seem to be a very honest and humble person who is very professional and knows the subject very well. Congrats...

[@m.g.a.moniteauinc.1941]

Thank you, Hector! You ALWAYS have valuable insights!

[@goldengriffon]

This is an excellent discussion. I greatly appreciate how you go into detail as to the specific reasons why you don't recommend certain types of pricing methods. This will help me when discussing fees with clients! Awesome stuff.

[@HectorGarciaCPA]

Glad you liked it

[@MoggAssassin]

Thank you Sir. I am just getting started and this is the area that I am struggling with the most. Defining "Fair" and expectations while not under or over pricing the service

[@HectorGarciaCPA]

Yeap

[@markhales1450]

Thank you once again Hector for your priceless value, I am gaining my confidence with your expertise. Thank you Brother.

[@norcalchassisworks]

THANK YOU GUS FOR ALL YOU HELP, Consultation was amazing and as promised.

[@orvillebrown4398]

Thank you hector, I love the value i get from your videos

[@HectorGarciaCPA]

;)

[@MsBpereira]

Thank you Hector. You are really good in explaining. Your videos are really helpful.

[@geonote1789]

Awesome content amigo! I especially appreciate this subject. All the best to you.

[@shannonphilpott3116]

Your videos are so helpful!! Thank you for sharing with us.

[@padmininoor9929]

Thank you so much for this, I’ve been trying to figure pricing my new business. Appreciate your wisdom and your kindness to share your knowledge 😊

[@HectorGarciaCPA]

You welcome!

[@ellenjoyraballe3871]

Hello, please let me know if you are interested in outsourcing your services.

[@cgonz078]

Great video has great value.I like the subscription base pricing.

[@jessel8833]

Fantastic video brother! Keep up the good work man.

[@HectorGarciaCPA]

:)

[@edwindavid7516]

Appreciate the content. You are very thorough and explicit. Thank you for your contribution.

[@HectorGarciaCPA]

You are welcome

[@et8003]

I love all of your content. Thank you!

[@atlprod1]

The information that you provided is very useful. I am just starting my Bookkeeping business and I wanted to find a fair way to price my services. Thanks again for the information.

[@HectorGarciaCPA]

Great!

[@sunkanmibero]

Awesome content yet again. Thank you for sharing. You are a Gem. I was wondering if you could make a video on the types of question or conversations you have with your new clients in the initial consultative meeting? Thank you for all you do. I am a long-term fan of you contents.

[@HectorGarciaCPA]

I do have videos on that… search for “value conversation”

[@lauraclark3941]

Sometimes you just have to let a small business owner know that you all are not a good match and give them a few pointers or training on how to handle their books or just look for another accountant.

[@NS-ef2ix]

Thank you very much for this video. I am a degree accountant with over 20 years of experience, with a bookkeeping service business. I always get stressed about setting a fee for prospect clients. I don’t want to go overboard, but I don’t want to undervalue my work either.

[@HectorGarciaCPA]

Agreed

[@tonirodgers]

Hector, I like you! Thank you so much for this very informative video. After watching the video I trust that the pricing template is worth the money.

[@adventureobsession2023]

Great overview. Thank you!

[@memphisizaac]

you have been very helpful for me, I am left the accounting field to do construction and real estate your advice is helpful, since i am trying to brush up on my accounting skills, to return to the accounting field. thanks

[@HectorGarciaCPA]

Great!

[@narendravora1097]

Thank you Hector, It is a helpful guide.

[@jaynefranzinoromero1640]

Very interesting, Hector. You're very sharp! Thank you!!

[@HectorGarciaCPA]

You welcome

[@dianavaldez3371]

Thank you Hector for the informative presentation. I learned a lot! 👏👏👏

[@HectorGarciaCPA]

Super, I'm glad you learned!

[@biamayz27]

I’m in the process of starting my bookkeeping business and I have a MS in accounting and 10+years experience. I prefer the value pricing because I can provide more value to clients other than categorizing transactions. I can advise best practices and workflows. Great vid!!

[@HectorGarciaCPA]

Awesome

[@BookkeepingSideHustle]

Thanks, Hector!

[@davidbond4740]

You said it well! Thank you!

[@melendimorton2442]

Very Informative! Thank you.

[@ranieeverett7412]

Thank you Hector as this video was very helpful. I currently charge a flat fee for my clients.

[@yvonneatieno5579]

Thank you so much Hector for this video

[@HectorGarciaCPA]

:)

[@cielorocacorba2798]

Very informative.. Thanks Hector

[@MuhammadShahid-tz3em]

Thanks. I am about to start booking keeping and tax consultancy firm in UAE (Dubai). This video is helpful.

[@HectorGarciaCPA]

Great

[@Mstroup93]

Love the video, thank you for your videos. Could you do a video on a systematic approach for a QBO clean up client? I'm a freelance bookkeeper and new clients typically come along with messy books. Thanks again!

[@HectorGarciaCPA]

That’s not in the horizon… that’s probably the hardest video to make.

[@bickababa282]

Thanks so much for this video...I prefer the fixed rate pricing

[@HectorGarciaCPA]

Mee too :)

[@brendasaccountingservices4157]

Thank you, Hector, this is what I have been looking for. I am a new entrepreneur offering my services. I have 30+ years of experience in all aspects of accounting and was making $75,000/year when I left the Corporate world. So this helps tremendously. It's not easy starting over, but I am looking forward to it. Thank you.

[@johannad9928]

Hi Brenda how is it going? I’m on the verge of doing the same now. Any tips? I have done more accounts payable and receivables.

[@aceaccounting.]

@@johannad9928 How is it going for you now :p

[@helalahmed7428]

Thank you very much for this Video!

[@HectorGarciaCPA]

You're very welcome!

[@andriiannaselmenska3062]

Hi Hector! This video is a tremendous help! I am a beginner entrepreneur in bookkeeping services and I couldn't find the right information about service pricing. You answered a lot of my questions. I enjoy watching your videos Thank you very much!

[@HectorGarciaCPA]

Awesome

[@nenethtejada6499]

Thank you Hector for the informative content

[@vanessajones3144]

This was very good information. Thanks

[@HectorGarciaCPA]

You welcome

[@Contadoragigi]

Love your video! I wish you can have one for Tax fees. Thank you, Hector!

[@HectorGarciaCPA]

Good idea.

[@williehabana9250]

Thank you for sharing. God bless you.

[@HectorGarciaCPA]

:)

[@KBlue728]

great video, very informative!

[@HectorGarciaCPA]

Thanks, glad you like it

[@lizc8214]

It's hard to do value pricing with clean-up clients. My problem has been cleaning up after "so-called" bookkeepers that don't understand proper accounting procedures and have no idea what GAAP is. This forces me into hourly pricing because it takes a long time to figure out why transactions were handled certain ways, what's missing and what has been duplicated. In our town small business owners de-value the work of bookkeepers that actually know what they are doing. I have honestly been offered $15 per hour by people that want a full-service bookkeeper/office manager with tons of skills.

[@HectorGarciaCPA]

Such a bad idea to work at $15/hr

[@jadaa.harris7267]

Thanks Hector! Great video! I use the fix price model which works for my business.

[@HectorGarciaCPA]

Great, was it hard to implement?

[@stillontheroad5275]

Thank you!

[@jaymataliya7364]

Hello everyone I started my new outsourcing bookkeeping KPO in INDIA so this video clear my thoughts about charging fees from client's thank you!!!🙂

[@HectorGarciaCPA]

Cool

[@user-sz7bi2yl3d]

Greate explanation!

[@HectorGarciaCPA]

Glad you liked it

[@FranciscoFlores-dq4rd]

Hello Hector: Does your pricing spreadsheet include actual pricing levels and suggestions or is it basically a template? If it does include pricing levels, do you have rural/urban differentials?

[@HectorGarciaCPA]

There are no references to numbers, levels, or averages. Its just a template that you use to present the numbers you will plug in.

[@John5ive]

hourly billing puts all the risk on the client. there's no incentive for the bookkeeper to be efficient. excellent video!!!

[@HectorGarciaCPA]

Exactly

[@lisanault6827]

Hi Hector - your videos are often my 'go to's' for concise info - thanks! I am interested in the Value Pricing spreadsheet you mention toward the end, but don't find the link. Is that still available?

[@HectorGarciaCPA]

qbkaccounting.com/pricingtemplate/

[@DividendoEfectivo]

Hector muchas gracias, soy latina, agradeceré el mejor consejo que puedas ofrecerme si deseo trabajar como contable en estados unidos de manera no presencial. Un saludo, mil gracias por tú contenido

[@pavel5362]

Hector, you mentioned very important thing - the value. In my opinion, providing only bookkeeping services is not enough nowadays. As I see, the main result is providing different statements. Only based on reports clients could make conclusions. What do you think? I want to provide a full circle of services, something like remote accounting department. I just want to do bookkeeping plus add value with interactive dashboards. Client could see transactions, KPI, Income Statement, Balance, CashFlow + other valuable reports in the Internet. What do you think about this? Could it be a demandable feature for a client?

[@HectorGarciaCPA]

I think that is very much doable. I would offer that as a feature to the higher end package when you offer the client options

[@pavel5362]

@@HectorGarciaCPA thank you!

[@KutukutuVDream]

It could be. This is also my motto for my clients .

[@jeffreygonzales5779]

Hi Hector! Appreciate your videos. I’m actually exploring bookkeeping services as my part time to earn extra income. I’m a CPA here in the Philippines.

[@winesap2]

I find that hourly billing really ends up being less for continuing bookkeeping service because you do become more efficient. I think the client would prefer this because they think it will cost less, though if they are smart they will want the flat fee because they will always know the cost of their bookkeeping service. When I do a QBO conversion, if I did it hourly I'd make nothing but it is a service that is worth a lot to a client, so a flat fee is a much better pricing structure. As well, when you set a flat fee for monthly services, you can include a higher hourly wage based on estimated hourly requirements for that particular business. The client just gets the value of the service. For cleaning up books, it has to be hourly because you never know how long it will take.

[@HectorGarciaCPA]

I would still challenge you to to charge a flat fee for cleanup also

[@MichaelJRodriguez530]

Great video! Do you offer CFO services? If so, can you do a video on pricing CFO services? Thank you for the insightful content!

[@samirajabbawy3645]

How much should a prepared budget cost for a daycare school? Thank you

[@DianeDesignGifts.]

??Thank you Hector for sharing your expertise and perspective on bookkeeping rates. I'm one of your subs. Can you advise me? I have an unusual situation as being a senior citizen that started selling online. I'm selling primarily on eBay and occasionally on Amazon and Bonanza. My biggest problem right now is trying to understand technology of course as I need it. I'm looking to get one-to-one training on how to organize set up my books (I never did a spreadsheet before.) Where do you suggest I go to get that kind of quick start training right now - so I'll be tax ready this year. Is QuickBooks user friendly?? And which QB software are good for beginners?? So this way I won't bring my embarrassing paperwork to a bookkeeper. Sorry for the long comment/questions. Thank you Hector for ALL you do in sharing much valuable information here on KZbin! May God continue on blessing you!

[@HectorGarciaCPA]

There are several of us that can provide that training, but the learning curve is steep for e-commerce, as there are a lot of moving parts. You will probably spend $1500 to $2000 for training

[@BookkeepingSideHustle]

Do you pay for any software subscriptions for your clients? How do you handle it when the price of the software increases?

[@lauraclark3941]

I would either increase my price, if the software price increase affects my income, or switch the software cost to the client. Only if the increase will affect you.

[@HectorGarciaCPA]

I am a reseller.. so I get paid for clients that pay Intuit on their own

[@naqeeburrehman7476]

What is wage rate after learning full qb course as a starter as where u live

[@larasogbola3052]

You mentioned a spreadsheet for service pricing. How can I get that? Thank you

[@HectorGarciaCPA]

The link is in the description.

[@laker6993]

I am a small real estate investor with 13 units, I find working with partners and purchasing real estate and tagging the journal entries a bit of a time-waster for me. It's not overly complicated to use QBO but it can get messy and have encounters many small things I need help with in order to clean the books up. Where would you recommend finding a good outsourced bookkeeper to do on-demand assistance?

[@janelacson4774]

I do part time Real Estate bookkeeping for property investors.

[@calicowest]

I’m in Southern California and I’m currently bookkeeper for private real estate investor.

[@moonstone5968]

Thank you for adding insight to a complex procedure. All methods have merit. I'm wondering how you handle clients who under estimate their volume of work. Is their an easy way to explain upfront about an " evaluation period" that could result in a billing cost adjustment. Also how do you handle clients who run a lot of personal expenses through the business account as far as increasing fees?

[@HectorGarciaCPA]

That can get complicated… if you make the contracts month to month, any party can cancel at any time.

[@ucf88cpa]

Great video!!! Hector where do I find the link that you mentioned in this video?

[@HectorGarciaCPA]

Should be in the description

[@ucf88cpa]

I don’t see it

[@ucf88cpa]

Never mind, found it

[@seifnawito3506]

Thank you Hector for sharing the information and experience, I have a question about using QBO in bookkeeping. I have 3 different clients and I’m thinking to use QBO with all of them but not sure how many times I have to purchase the license? Can buy it one time and create new company file for each client or it doesn’t work like this and I have to buy separate license for each client.

[@HectorGarciaCPA]

its a new license/subscription per business (client)

[@omimita1]

Hetor, where do you or how do you recommend to learn bookkeeping?

[@HectorGarciaCPA]

The least expensive way, is the coursera course

[@hashithamunasinghe]

Thank u

[@narellano26]

Hola Hector te sigo desde hace poco tus contenidos son geniales, queria preguntarte si esos precios estan vigentes, recien estoy empezando con lo de llevar contabilidades porque siempre he trabajado bajo dependencia y hay un cliente que quiere que le lleve la contabilidad pero es una empreza de Lumber recien esta empezando , mi pregunta es le cobro por hora de asesoria y luego que empiece operaciones le cobro por operaciones? 30$ por hora estaria bien

[@HectorGarciaCPA]

Se le puede subir 10% por la inflación

[@maxm1584]

What's your opinion on outsourcing bookkeeping services on upwork/fiverr from someone overseas?

[@HectorGarciaCPA]

Not a fan

[@jcbusch8616]

Hi Hector, Have the rates & formulas changed since two years ago? thx JC

[@HectorGarciaCPA]

They were never fixed rates/formulas. But the general concepts are the same.

[@calicowest]

I’m currently doing contract bookkeeping services for 2 clients that are hybrid remote (meet at clients office weekly) also they both have complex bookkeeping and multiple sets of books for their companies. I am returning to bookkeeping and have work experience of 15+ years in internal and business management/CPA firm. How should I be pricing?

[@HectorGarciaCPA]

Based on the value you provided. Maybe $3k each?

[@janeh5949]

for a non-profit, can I do .5% x the Donations/contributions for the year?

[@liliaruiz3640]

great question, it depends on their projected grant budget and if they're even writing administrative fees into their funding. Are you job costing expenses? or just reconciling bank statements?

[@khs391]

Does quickbook enterprise has one time payment ? Has someone try to motivate us that he has license key one time payment for quickbook enterprise ? Does this one is crack or license ? Thanks

[@HectorGarciaCPA]

No one time payment…. It’s probably a scam

[@khs391]

@@HectorGarciaCPA thank you very much for your advice. I am appreciate to get your feedback. I am from cambodia. Appreciate with many video which talk about quickbook desktop.

[@marthavique7154]

Where can we see your whole spread sheet about the bookkeeping should cost?

[@HectorGarciaCPA]

I dont have a spreadsheet like that

[@patrapper7367]

Hourly for me. I seen fluctuations in peoples business as well as the last few years of financial volatility hourly is the way to go.

[@HectorGarciaCPA]

Yeah, that is a way to protect yourself against changes, just not very customer centric.

[@amaurysanchez3450]

One of the things I always hear is “wait I’m paying QuickBooks to stay organised, then I’m paying a Cpa a fee to take that info? and do what with it??

[@HectorGarciaCPA]

Correct

[@pavel5362]

Hello Hector. I am a bookkeeper, but not CPA. I am looking for a CPA for a full cycle of accounting business. Sometimes I provide clients as a sale representative. My clients are not native speakers, so anyway I have to participate in discussions (I am, a client, a CPA). Could you please provide your piece of advice how better to organize workflow. As I see, there are two options: - onboarding process on me, CPA is my subcontract in this case. My client isn't connected with a CPA directly (all communications are through me) - signed agreement with CPA regarding my sales commission, onboarding process on CPA's side, CPA communicate with a client directly (I participate) What do you think?

[@HectorGarciaCPA]

This is not my area of expertise, you might need an attorney to help you draft the agreement

[@rvishakhs]

Hai i have 3 + years accounting and bookkeeping experience and now I'm a quickbook pro advisor. can you guide me to land good bookkeeper position. I'm trying on freelance platforms but I can't make it

[@HectorGarciaCPA]

You need a good resume and learn how to nail an interview. I don’t have anything else to say beyond that.

[@rvishakhs]

@@HectorGarciaCPA thanks, please include some videos related to ecommerce accounting

[@amaurysanchez3450]

I’m a fairly new business I make 15,000 a year would a CPA even care to deal with a small fri like me?

[@HectorGarciaCPA]

Most CPAs “care” if you can afford them. At $15k a year, you will be giving 10% of your earnings to a CPA to work with you, at least. You need to decide if that is worth it.

[@mubarismubu5521]

Hello I’m in uae I want to make payroll But I don’t have options You can help me

[@HectorGarciaCPA]

Payroll only available in certain countries

[@mubarismubu5521]

How I take employees salary details One by one

[@aprilallen8892]

I feel like I should send your video to some of my clients so they will quit whining. But seriously, I have a lot of clients who want to do the transactional work themselves and pay me to review and correct their errors. It feels like a clean up job every time be it monthly, quarterly or annually. How would you fit that into your pricing model?

[@HectorGarciaCPA]

You can charge for monthly cleanup; its the same as “collaborative bookkeeping”. Just figure out a fixed price for it.

[@amaurysanchez3450]

I would want a flat fee based on the complexity of my business.

[@HectorGarciaCPA]

I agree, probably the most fair approach

[@mariasofiajuquiana3680]

How about for a beginner bookkeeper. How she will charge her clients. Watching here Saudi riyadh

[@HectorGarciaCPA]

Probably “less” as there isn’t as much experience and is more prone to errors

[@LogicalBooksforConstruction]

If the per hour fee goes up with experience and niche.. Hourly seems fair to me. Nothing is perfect.

[@chieromancer]

At 14 minutes, you spelled experience the opposite of correct.

[@HectorGarciaCPA]

Whoops.. so embarrassing

[@deepakjaiswaloptionbuyer2510]

Hi sir, I want to do bookkeeping jobs as freelancer from India. Plz help me for job search as freelancer. I want to to do online accounting jobs due to some physical issues.

[@HectorGarciaCPA]

:)

[@patrick553]

Man Quickbooks is tough to learn when there is no one on one mentoring especially because different industries pose different problems. Real estate vs. ecommerce etc

[@HectorGarciaCPA]

Yes it is.. that’s why we can charge what we charge.

[@monkizaki1440]

Is a bookkeeper an accountant?

[@HectorGarciaCPA]

Similar

[@dr.danieljohnston1970]

Another description of this value pricing strategy (from pesonal experience): use lots of smoke and mirrors....then be sure to leave them dazed and confused.

[@HectorGarciaCPA]

.

[@Reephio]

With the amount of work and task to do for a bookkeeper $34678.00? boy !!! I'm out sorry not for me!!!!

[@HectorGarciaCPA]

Its a hard profession at that rate…