Is Your Bookkeeping Rate Accurate

As a business owner, especially a small business owner, you want to make sure that you are bringing in the most cash that you can and keeping your expenses low. You will find that one of the main ways that you can cut your costs down is to keep your bookkeeping rate as low as you can. What you want to make sure that is that you are not sacrificing the quality with the price that you are trying to pay.

– Dig Deep Into Details

The thing that you need to be careful with when you are comparing bookkeeping rates is that you are comparing apples to apples. This can be hard to do with bookkeeping rates; they are not as straightforward as you think. What you will find is that a permanent bookkeeper may be able to undercut the rates of a freelance bookkeeper; however you want to look at what that rate includes and how many hours they are going to bill you. Make sure that you are looking into how the more expensive hourly rate may actually turn out to be the better deal.

– Understanding Hidden Costs

If you are deciding between an outsourced bookkeeper and one to hire in your office, you have to take a lot into consideration. First, you will find that it is costly to hire someone. When you have to interview, take time out of your day, and do background checks, which can be expensive. Instead, factor that into your bookkeeping rate and really take that into consideration, outsourcing a bookkeeper may actually be a lot less expensive when it comes to the inflated bookkeeping rate when hiring someone.

– Take Into Consideration Total Hours Needed

When you hire a bookkeeper to work Monday through Friday in your office, in turn they may actually do less work than you ever imagined. There are ups and downs with the bookkeeping side of your business; you may not need a bookkeeper on staff full time. So, when you are looking at bookkeeping rates, you may be paying a lower hourly cost, but in the end, they bill more hours. Instead, what you can do is outsource this and your bookkeeping rate will drop. You can have them work for you when you need them and when you do not need them, you are not paying for them to sit in the office.

– Accountability is Expensive

If a bookkeeping error is made, it can be extremely costly or it may be something that can destroy your business. Don’t put yourself in that position to save a few dollars on this. Instead, outsource your bookkeeping. When do do this, you can hold the outsourcing service accountable for the mistake instead of it falling onto your shoulders and potentially ruining your business. The savings alone here should be enough to understand that the Bookkeeping Rate you are being quoted is so much more than a rate; it takes into consideration a lot of other factors.

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