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What Is A Good Bookkeeper Worth?

I am often asked what is a reasonable fee to charge my clients. And on the opposite side of the coin – what should I expect to pay for a bookkeeper? A bookkeeper who is honest, trustworthy, reliable and knowledgeable is worth their weight in gold. You might find a good honest hard working person, but if they don’t have the knowledge and experience that you need then you only have part of the solution you are looking for.

For bookkeepers check with your local CPA’s for a reality check of your worth. They often have a good idea of what the market will bear for your area. Consider your experience and education when setting your fees. If you are just starting out, you might want to consider the lower end of the scale. However if you are experienced in all phases of bookkeeping (generally called a full charge bookkeeper) you are worth more and should charge more. Specializing in niche business types such as construction, retail, artists and art galleries, medical, etc can add even more value to your services.

As for those business owners looking for a bookkeeper, first determine what your needs are. Are you looking for someone to do data entry of receivables and payables and perhaps write checks? You might consider someone with less experience. However, remember your company is probably growing and you should seriously consider your future needs. Will you need someone to process payroll? Make general journal entries? Prepare internal financial statements? Do you need someone who can guide you through your financial record keeping needs as your company expands? Better to hire someone who is more experienced now as they will be a great asset to your growing company.

A good bookkeeper is more than just a data entry person. They are an integral part of your company and as such you should take care to find the right employee or service for your company. Remember the old adage – you get what you pay for!

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Donna MacMillan, certified QuickBooks consultant and president/founder of MacMillan Associates provides a unique set of services covering all aspects of successful business growth and financial health for all business types and sizes. Offering comprehensive, confidential, and professional services, MacMillan Associates can analyze, design or redesign your current systems to maximize productivity, cash flow and solidify your bottom line.

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