Accountants and Bookkeepers are always asking me:
“What should I be charging as an hourly rate for bookkeeping?”
I get asked this particularly from bookkeepers who are starting their business journey.
So I decided to find out, definitively what the profession is charging. So let’s look at that. Also, later I’m going to share with you how you can get 30 days of free access to some of my best training.
Hourly Rates for Bookkeeping
I recently created the world’s largest ever study, with 2683 participants, into what people are charging for their bookkeeping services.
One of the questions I asked in the survey was:
“If you price based on an hourly rate, what is that hourly rate?”
This graph shows the findings…
As you can see, at the bottom end of the spectrum, there are accounting professionals charging as little as $19 an hour for their bookkeeping services. This is a ridiculously low price.
Bookkeeping is a highly valuable service and it deserve a high fee.
Some of the top accounting firms are shown here to be charging over 6x times that amount.
Whilst these prices are significantly better than $19 an hour - this was only the results for those accounting professionals using hourly rates.
In this report, I also asked participants to identify how they arrived at their prices. Here’s what they answered…
Just under 40% of accounting professionals are still using hourly rates to price their services!
Time based billing is a terrible way of pricing any of your services. The client is not interested in buying hours of your time - they are buying results. They are buying a solution to their problem.
You should base your price on the value you provide.
The results revealed that people using menu pricing and value pricing techniques were earning much higher fees.
I want to give you 30 days free access to some of my best training…
If this isn’t enough to convince you to make the move to value pricing, download the report and see it for yourself now. You can get a free 36 page sample here that is country specific.
By the way… the report also revealed that members of my training group the Value Pricing Academy on average earn more for their bookkeeping services than non-members.
But I appreciate that most bookkeepers run quite small businesses and might not be able to afford that subscription.
I hate to see so many people missing out, so I have recently launched a new training academy aimed at the bookkeepers and small accounting firms that need training to increase their prices, win more high quality clients and improve their business model.
It’s called the Bookkeepers’ Pricing Academy.
In this training academy you get access to over 4 hours of live training every month with me and an incredible bookkeeper, Teresa Slack. You also get access to the entirety of my course How To Price Bookkeeping (normally priced at $1,965) delivered over 12 months.
This is just the tip of the iceberg because this course has tons of extra resources and videos tailored specifically to help bookkeepers and small accounting firms.
The first 30 days are totally free.
If that sounds like something you need, click here to learn more about the Bookkeepers’ Pricing Academy.
I also run a live online training session every month with a different topic. You can attend live and ask me any questions you have - I’ll answer them then and there. Click here to register and I will send you an invitation to the next session.
And if you would like to join a community of like-minded accounting professionals learning to price more effectively and confidently, you can join my Facebook Support Group here.
Wishing you every success on your pricing journey.
Chartered Accountant, Public Speaker and Amazon No. 1 Best Seller of “Effective Pricing for Accountants”
Your Pricing Journey gives you access to my pricing training delivered every month in easy to digest, and easy to implement, steps.
So if you sometimes find yourself working too hard, for too little money, this programme will solve that problem.