Do You Always Review Your Prices Every Year?

I recently ran a survey asking 2683 accounting professionals what they charge for their bookkeeping services.

The participants predominantly consisted of accountants both qualified and unqualified, and bookkeepers both certified and non-credentialed.

I wanted to know how they were pricing their bookkeeping services, but also how much they were charging.

You can watch the video here.

One of the questions I asked in the survey was…

“Do you review your prices for every client at least every single year?”

The answer to that should be overwhelmingly YES. We absolutely should be increasing our prices every single year, for 3 key reasons…

Inflation

Prices change every year, they always go up because of inflation. Your prices should increase every year as well - your clients expect this.

Clients change

You should also be reviewing your prices because your clients’ circumstances are likely to change. If you’ve been helping them, their business is surely...

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Why The US Get Better Prices

A few months back I discovered something that astonished me…

Accounting firms in the US are better at pricing bookkeeping services than those from other countries like Canada, the UK, and in fact the rest of the world.

In my recent study, with 2683 participants, I wanted to find out how accounting professionals are coming up with their prices for bookkeeping services, and exactly how much they are charging.

A mixture of qualified and unqualified accountants and bookkeepers took part in the survey from all over the world.

You can check out the video I did about this here.

We analysed the data and then broke it down into different countries to see if the location of a firm had an impact on the way they price. I wanted to know if there was any significant difference in the prices that firms from the US got as opposed to firms from  Canada and the UK.

The survey was largely based around 12 different bookkeeping client scenarios. We asked participants to recommend a price...

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What Are The Going Rates For Bookkeeping

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.

You can watch the video here

I recently created the world’s largest ever study, with 2683 participants, into what people are charging for their bookkeeping services.

980 Qualified and 416 Unqualified Accountants, 468 Certified Bookkeepers and 591 Non-Credentialed Bookkeepers all took part, as well as 208 ‘others’ such as Enrolled Agents. Mainly accountants and bookkeepers.

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… 

Let me just explain how we achieved these numbers.

What we did was we organised all of the 2683 participants responses in ascending order....

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