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    2 Replies Latest reply on Dec 6, 2009 9:41 AM by phanio

    Starting a Bookkeeping Business

    ladyc125 Newbie
      Hello Community,
      I am starting a home based bookkeeping service. I have everything I need from the business plan down to the software and services that are offered. I am an accountant who has 6 years experience in the industry. My question is what fees should I charge for my services. Listed below are the services that are offered:

      Full Charge Bookkeeping
      Accounts receivable
      Accounts Payable
      Payroll & Payroll Remittance
      Bank and credit card reconciliations
      Budget Preparation
      Cash Flow Analysis
      Financial Statement Preparation and more.

      Should I charge a flat rate, a per service or task rate or should I charge by the hour?

      Some please give me some useful advice!

      Lady C
        • Re: Starting a Bookkeeping Business
          seoservicepro Ranger
          Check out your competitors and see what they charge and how they charge. Then choose the method and rates you think are best for you.
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          • Re: Starting a Bookkeeping Business
            phanio Pioneer
            Good advice to check out your competitors as you don't want to be over priced in your market - unless you are offering something they are not.

            If you have a business plan, then you should have a good grasp of your costs (variable and fixed) to provide your services. Based on your cost, you can set your pricing - to cover your costs as well as a profit premium (or mark up). This could get you started. Then, as you move forward, adjust your price up or down until you find the right mix. The right mix to cover your costs, provide a premium and get enough customers to keep you busy.

            Also, remember, when it comes to pricing, if you price too cheap - consumers will think your services are cheap and go elsewhere. If you want to be a low cost provider and drum up business - set your price competitively then offer discounts or promotions.

            Business Money Today
            1 of 1 people found this helpful