We looked at dozens of popular virtual bookkeeping services and narrowed it down to those that will work best for your business. Each offers slightly different services and features, so choose the one that best suits your needs. Businesses typically expect certain services to be part of bookkeeping, but providing additional offerings that add value to your clients’ businesses can justify charging a higher fee. These tasks might require different certifications, specialized skills, or additional time, which means they can be billed at a different rate.

• It’s a complex field, which is why we’ve created this guide to help see you through.
• There are business names, and then there are fictitious business names known as “Doing Business As” or DBA.
• In any industry, experience is influential in pricing decisions, and bookkeeping is no different.
• I often just use the bill pay directly through the bank with this client, as it’s relatively easy to do, and many banks will do that service for free.
• That way, there are no surprise fees, and clients know what to expect from you.
• Therefore, make sure you ask them which accounting app they use for their business and why.

First Month Bookkeeping Free!

One way you can determine how much to charge is to tie each task to a dollar amount. When you’re first starting out, it’s hard to get a grasp on that, though, which is why I like to put it based on terms of approximate hours worked. Most likely, you already have an hourly rate in your mind that you’d like to be working at, and you likely did not get into bookkeeping to be making $10 an hour.

Virtual Bookkeeping Helps Unlock Your Full Potential

They’ll categorize transactions for you and be more familiar with tax deductions and credits relevant to your business. In fact, you may find you rarely need to meet with your local bookkeeper in person. That’s because local and virtual bookkeepers are becoming more and more alike in both their services and how they offer them. But the top-tier businesses rely on up-to-date books to help maximize profits, minimize costs, and make smart investments. During the initial setup, you’ll get a customized client checklist detailing how your accounts are reconciled.

Why QuickBooks

If you need to raise your rates, you’re suddenly asking a dozen bosses for a raise. Once you do the math, you’ll get an idea of how much you really spend on bookkeeping every month—even if you’re not cutting yourself a check for those services. If you have employees or contractors, try applying the hourly rate of the one whose time costs the most. Equivity offers a range of virtual services for businesses—from administrative assistants to paralegals. If you don’t have an accountant, you can opt to add tax filing to your subscription, and let Bench take care of taxes for you. If a virtual bookkeeper has no website, no online profile, and no social media, that may be a sign they’re inexperienced or unreliable.

• During your demo, we’ll walk you through the services included in each Bench bundle to determine which is the best fit for your business.
• Add footnotes to the bundles to mention limits and overage rates.
• The accounting software used can impact the price of the service.
• Do your due diligence to make sure you’re billing your clients fairly.
• If you’ve decided a corporation or limited liability company (LLC) is the best business structure for your company, you’ve probably come across the term “registered agent”.

Some months might require basic bookkeeping tasks, while others could involve a deep dive into accounting software to organize financial data or generate comprehensive financial reports. As a result, the monthly fee can fluctuate, making it hard for your clients to budget accurately, and may lead to some eyebrow-raising when they receive an unexpectedly high invoice. QuickBooks Live is our top pick for online bookkeeping services because virtual bookkeeping services it offers cleanup bookkeeping services that vary based on your company’s needs for your first month. This service is ideal for business owners who want to get their bookkeeping in order but don’t have the time or resources to do it themselves. Instead of charging by the hour, you establish a flat monthly fee that reflects the value the client receives. Bookkeeper360 is a full-service accounting platform developed for business owners.

Check your state’s business filing website for forms and fees for changing registered agent information. For additional info, check out our guide to why you need a registered agent. You may want to ask your real estate agent if she thinks your home would benefit from home staging. Your agent may also recommend a home staging service or even offer other cost-saving tips besides staging, based on her experience showing real estate to buyers. A full-time bookkeeper handles the day-to-day accounting functions for your office. Keeping your books in order and up-to-date is the foundation of the financial strength of your business.

Companies operating in more than one jurisdiction or whose records include a wide assortment of transaction types have more complex taxes, which requires more time to prepare. Some businesses or industries even have their unique filing requirements. Home-based businesses in California, for example, have specific sales tax obligations compared to other businesses in their area. You’ll need to know these requirements before you can file taxes effectively.

Factors Influencing Virtual Bookkeeping Service Pricing

A registered agent is required when you register your business as an LLC or corporation. You’re responsible for keeping your registered agent information up to date with the state. If the agent you listed moves to a new location, you’ll need to update the agent’s address. If your agent moves out of state or the service you are working with goes out of business, you’ll need to appoint a new registered agent.

The Wave suite of apps manages tasks like invoicing, payroll, and accounting/bookkeeping for small business owners. Streamline Bookkeeping is a virtual bookkeeping service that specializes in helping small businesses and professional service firms. Most clients have 1-20 employees and include doctors, attorneys, chiropractors, web designers, architects, consultants, real estate investors, and non-profits.