[ad_1]
New accounting firm?
Then you are probably not sure how much to charge for your services. This is the company expected bookkeepers and other consultants as well.
When I started my accounting in 1999, so was I. Here are some tips on what to charge.
One lesson I learned quickly is that everybody wants a deal and they think that you should give them one, but once you do, they will underestimate the service and consider it to be permanent discount.
Do not make the mistake of charging too little – Use rewards incentives and bonuses for new reference customers instead of lowering the price for each customer. Even when can be “Kiss of death” to give your balloon.
Do not guess at how much to charge, either. When you start you need to seek out other professionals in your field and simply ask them what interest rate they are charging in the area. Ask them if there is a sliding scale, and if so, what criteria they used to determine the parameters of
Here’s what I figure -.
Small business customers would rather pay a flat fee and hourly rates. Most bookkeepers charge an hourly rate, but will charge a flat fee based on the number of transactions that need to move, plus $ 5-10 (if they do not know the customer in advance). You must also calculate these costs in your calculations -. Workers Compensation, self-employment tax (10% for the United States), and business insurance
is based banks and credit card reconciliation, data entry and a set of monthly economy you have to work 2.5 minutes per transaction. Each entry data transaction is “2.5.” So, if you have an average small business with 200 transactions per month, you need to load 2.5 minutes in record lows.
Experience tells me that some records will take more time and some items will take less time, but from beginning to end all the entries made will balance out in 2.5 minutes apiece. At the rate I charge that means a monthly flat fee for this customer as 2.5 times the number of entries divided by 60 minutes Total time fee (360 2,5 x 45 x $ 200/60 = $ per month flat fee).
Not all bookkeepers are willing to share the fee structure with the other, so do not be afraid to ask a few bookkeepers what they charge for the beginning of the reference. You will find that there are price ranges from $ 16-60 + per hour. Select one of the discounts that feels like it covers costs and still holds you accountable as an expert in your field. If you charge $ 16 per hour then you really need to get more experience and / or education to be taken seriously. Accounting Accreditation is one way to do it. Check with your local chapter of American Institute of Professional bookkeepers for accreditation.
If the customer seems anxious for a fee then ask them if they would fancy set records presented to the auditor of the end of the year with no problems, and if there was a justified way to think about the fee. If they hesitate even then you are best advised to help them find someone else.
The benefits of hiring a bookkeeper is also the fact that full-time employee and labor costs are out, computer hardware and software and increase office space and storage for accounting for are not necessary.
$ 25-45 is the average cost per hour for a good accountant who knows the business. For higher hourly rate you are paying for a bookkeeper who works with the auditor. Those rates reflect the fact that they work with professionals who oversee their work and the higher rate is symbolic tax professional review of listed companies before they go out the door to the IRS or CRA. It is worth the extra expense for a lot of customers. For others it is not, and these people probably do not make the best customers for experienced bookkeepers.
When you create accounts for their customers Billings, briefly rewrite the work you did for them (clients) in the body account for them. There is really no need to add all the items on the list of the services that you gave them. You want to include 2-5 sentence summary for your clients so that they understand what they are paying for
TIP :. If you have a large amount of your bill to introduce them then try to break it up into 2-3 separate accounts in relation to the month. Customers will need to do their job, but no one appreciates a huge bill at the end of the month without notice. Those circumstances lead to ill will and short-term customers. Longevity is the key to owning and operating a reputable and long accounting firm
invoice descriptions are :.
“Accounting services provided in November, with but not limited to, the following: Bank and credit card reconciliation reports for October statements, cash receipts journal, cash Payments journal, general items Journal (for those on an accrual basis accounting. General calendar and statements, trial balance, general letter ledger. If you performed payroll service then add “payroll preparation,” “submit quarterly payroll tax,” etc.
big picture and some details help customers understand why because you bill as you do. And why you are worth it!
If you moved more services you choose to go as un-billed go ahead and add it to your account as a note at the bottom of the registration as a service – for example: IRS calls to payroll version 3 hours without charge. ALWAYS say, “Thank you.” Never ask customers to call with questions about your account
fee for telephone consultation and training at reduced rates – . If you do not want to be coaching clients free and it just takes away valuable time that you can spend getting other jobs and customers. Time is money-Use yours wisely to grow your business. Do not nickel and dime customers – fax and copy should not be charged unless they exceed $ 20.00 to time and cost
Always invoice your customers on a regular basis -. At the same time every single month. Create professional invoices even if it is on an Excel spreadsheet. Use the last day of the month as a reference in the collection dates
Still looking for customers
-.? Look through the want ads for people who are interested in at 10-15 hours one week. Generally, these people are less interested in hiring an employee. Give them a call or send your business card and resume and cover letter explaining why the service is good for them -. Outline the benefits for them and ask for a call to discuss it
– Participate in local networking group. I found Business Networking International (BNI) not only helped me with professional public speaking and self-confidence, but they also gave me a steady and reliable stream references every week as my business grew and kept me occupied. The cost of membership paid for itself in just one week.
Good luck!
[ad_2]