For S-Corps, C-Corps, and Partnerships, you can add-on personal filing for 1 partner or shareholder for just $59/mo when billed annually or $69/mo when billed monthly. Every report accessible in the Bench platform can be exported to an Excel file for easy sharing with anyone from business partners to accountants. Once you securely connect your financial accounts to the Bench platform, we’ll pair you with a dedicated bookkeeper. During your free trial, we’ll walk you through the services included in each Bench bundle to determine which is the best fit for your business.

  1. Many businesses do monthly bookkeeping or quarterly but weekly or annually are also an option.
  2. As great as it is to talk about potential bookkeeping costs and get estimates, we know that seeing an actual average for your state can yield excellent value for you as a business owner.
  3. One thing to note about this service is that there is a shift in pricing for cash versus accrual accounting.

Monthly Financial Statements include P&L, Balance Sheet, and Statement of Cash Flow. Management Reports include P&L Balance Sheet, Statement of Cash Flow, Accounts Receivable and Accounts Payable https://adprun.net/ Aging Reports, and Performance Reports. All plans require a QuickBooks or Xero subscription connected to financial institutions including bank accounts, credit cards and payment processors.

For a more detailed guide on pricing, our article “How to Price Bookkeeping Services to Maximize Your Revenue” dives into the different variables you should consider to optimize profitability. It is easier to upsell your customers to more expensive levels when you have different tiers of services available. Startups need more than a robot to reconcile the accounts, they need a trusted advisor who is in tune with their unique growth path.

More Than A Bookkeeper

You might also want to check out this podcast episode where I discussed how to include client questions & support in a subscription plan. Clients will inevitably have questions for you throughout the year so you should offer different levels of support at multiple price points. Go ahead and identify the services that you want to include and decide what your gold, silver, and bronze services will look like.

QuickBooks Live

If there’s only one service they have to provide, it is bookkeeping, which is the core process of any financial accounting. This type of bookkeeping pricing package offers you a fixed amount to pay for an agreed service. They may do the work earlier or later than expected, but as long as startup bookkeeping price packages the service is completed, you must pay the rate. Our catch-up bookkeeping services are designed to get you back on track and up to date. We will review past history of filings and transactions and move you towards the goal of getting your bookkeeping current (and keeping you there).

Basic Packages

Kruze provides startups with specialized accounting, tax advisory, and financial reporting services you need so you can focus on the big picture. Accountants maintain a wide range of skill sets, including managing spending and budgets, taxes, and analysis of financial statements. To be exceptional at these tasks, accountants must complete years of training and earn special certifications, which their salaries reflect. Depending on the type of accountant, years of experience, and certifications, you could be paying a pretty penny.

The two components to bookkeeping services pricing

Their comprehensive bookkeeping platform offers services for monthly reporting, accounting, bookkeeping, and financial management. For QuickBooks Live’s bookkeeping services, you can expect to pay $200 per month minimum. You will also be required to pay a “clean-up fee” to begin your bookkeeping membership; however, this price is dependent on tax filing status, sign-up month, and business start date. There are a number of startup bookkeeping providers who claim to do “automated” bookkeeping or automated accounting.

It’s also a key component in demonstrating due diligence and maintaining accurate books, which are necessary when it’s tax time. The best online bookkeeping for your business depends largely on your startup’s budget, bookkeeping needs, monthly expenses, and additional features you require. Our top recommendation for an online bookkeeping service for startups is 1-800Accountant.

Let clients try the package for a few months at no charge or for a discounted rate in exchange for feedback. Discuss potential pricing with these clients to help you decide the final cost. The reason behind packaging your services is to improve your team’s efficiency and offer more value to your clients, even as you grow your bookkeeping firm. So, choose the services that give you a more streamlined bookkeeping process to gain these advantages at scale. Having different tiers of packages helps clients get the best value for their money rather than paying for services they don’t need.

A packaged service is repeatable so you’re very likely to have effective methods in place to complete the work. Our team is trained to look for specific errors based on your company’s stage. An outside bookkeeper provides a fresh and unbiased perspective on your financial situation, providing you with alternatives and options you may not have considered. If getting your books caught up is your priority, our Catch Up and Retro bookkeeping teams will work with you to get your books in order, fast. Startups are more successful when they can accurately budget and plan for growth.

An outsourced bookkeeper can help monitor your invoices, payments, billing and other transactions to make sure you’re collecting funds that are due to you, as well as paying your vendors and contractors on time. If you’re unsure if cash basis bookkeeping will work for your business, talk to us. We’d be happy to understand the needs of your business and determine if Bench is a good fit for you. Join over 25,000 US-based business owners who have streamlined their finances and have grown their businesses with Bench. Get the peace of mind that comes from partnering with our experienced finance team. Track your expenses as they happen rather than discovering the totals (and experiencing sticker shock) after the month is already over.

Your bookkeeper can’t, however, prepare or file your taxes for you as part of your Live Bookkeeping service—even if they’re a credentialed CPA. But with 12 months of accurate books, your finances are accurate and ready to file taxes at year end. Additionally, packaged services can help you be more efficient with your time and money. By creating detailed service packages, you avoid the time and repetition of building custom packages for each client based on their unique needs.

Choosing the right bookkeeping software can be a game-changer for startups. Such software aids in recording financial transactions efficiently and ensures that the financial records are always up to date. This level of detail is invaluable when it comes to financial reporting, filing tax returns, and validating the business transactions recorded.

Bookkeepers have a wide variety of skills, so one of the factors you need to consider is what you need them for. If it’s basic client billing and documentation, a good solution may be accounting software that can assist you if you still want to play a more hands-on role. Additionally, a bookkeeper may work with an accountant, who is responsible for more advanced tasks such as assessing the health of a business or generating financial statements. Because it can help you save time and automate certain parts of the business, so you can focus on the most important matters. Software and technology can help you grow your business, and save you from expensive personnel costs.