Bookkeeping Rates - How Much Do They Cost?

Every company requires keeping its financial records well maintained and for this, each company requires the services of a good bookkeeper.

Houston, TX (prHWY.com) August 2, 2011 - Every company requires keeping its financial records well maintained and for this, each company requires the services of a good bookkeeper. In fact, an expanding business requires expert handling of its financial records and therefore a bookkeeper is required to do the job. Hiring the services of a bookkeeper is usually quite expensive for a company and the Bookkeeping Rates depend upon the educational qualification and the knowledge and experience of the bookkeeper. For a certified accountant, the Bookkeeping Rates would be very high.

Most companies are now outsourcing the company's bookkeeping functions, as the Bookkeeping Rates of a full time employee can be very high. With the arrival of various agencies offering bookkeeping services, there is a lot of competition in the market. This has led to agencies offering discounted Bookkeeping Rates to their clients.

Bookkeeping Rates are usually devised as follows

1. Hourly Rates - Hourly rates are applied in three instances: for clients who have small businesses, for clients who require the work done urgently and for clients who require work done on specific financial data.

2. Monthly Rates - Monthly Bookkeeping Rates are applicable to clients who have built a relation with the bookkeeping agency and require the service on a continuing basis.

3. Project Rates - The rates for project Bookkeeping Rates are valid for medium sized to large companies which have voluminous financial data. The bookkeeping agency works out an estimate based on the quantum of work that is required to be done and how many number of man hours, the project would require. Based on all these calculations, a figure is reached. The bookkeeping agencies normally work out a discount on the hourly bookkeeping rate for a client where the quantum of work is very high.

4. Transaction Rates - These rates apply to large companies who have a very high turnover and the outsourcing is on a long term basis. The clients are given special rates since the transactions are voluminous and the project, long term.

A thing to keep in mind is that there are no fixed rates for bookkeeping and the rates normally differ depending on the service and quality of work required to be done. The bookkeeping agencies evaluate the quantity of the work and the complexities and intricacies of the project, before presenting a quote to the client.

The other factor on which the rate depends is the time frame for the project, set by the client. Understandably, a project that needs to be completed urgently within a short period of time will be charged at a higher rate than one which has a flexible time frame.

However, while searching for an agency to do the bookkeeping work, you must not take into consideration only the rates on offer. What is important is that the agency to which the work is delegated has a team of highly competent bookkeepers. The agency must also be reliable with a good track record. It is a good practice and also important to check the credentials of the agency, since it will be managing the confidential documents of your company.

Books2taxes is a Leading QuickBooks Bookkeeping Services Firm. It provides Bookkeeping Services and Accounting Services at AMAZINGLY Low Rate for American Business.

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Tag Words: accounting services, bookkeeping services

Categories: Accounting

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