Some industry experts believe that not enough bookkeepers are emerging to fill available job openings, indicating opportunities for professionals with the right skills. The U.S. Bureau of Labor Statistics (BLS) groups bookkeepers with accounting and auditing clerks in its job-related data. The data presented in the following table covers all three professions. Also, note that the degree-related salaries cover all accounting professionals who hold that degree. However, master’s degrees in accounting are usually designed for professionals in more advanced or technical positions.

• For example, if you have the time to handle bookkeeping yourself, you might continue to do so to save money.
• They don’t want to charge too much and scare away customers, but they also need to charge enough to make their work worth it.
• Becoming a bookkeeper can be a rewarding and fulfilling career path, with opportunities for growth and success in your small business.
• For W2 workers, the average hourly rates are closer to $20/hour, while self-employed bookkeepers earn closer to $30/hour.
• Taxes are incredibly complex, so we may not have been able to answer your question in the article.
• A full charge bookkeeper differs from a bookkeeper since they also perform accounting tasks.

Bookkeeping Services

There are three types of certifications for bookkeepers that we recommend. Cecilia is a freelance writer, content marketing strategist and author covering education, technology and energy. She is a current contributor to the Forbes Advisor education vertical and holds a summa cum laude journalism degree from California Polytechnic State University, San Luis Obispo. Coursework and other continuing education programs support skill development and encourage professional networking, which can also expand your job opportunities. If you opt to pursue certification through a college or university, check with your chosen school’s admissions office to verify the length of the program. Some programs are asynchronous, meaning you’ll pace yourself throughout the course, and you don’t have to log in at any particular time.

Variations in Hourly Rates Based on Services Offered

These factors help bookkeepers decide how much to charge so they can cover their costs and make a living. Bookkeeping is not just one simple task; it includes many different kinds of services. The more kinds of services a bookkeeper offers, the more they might charge. Also, if you pick a bookkeeping provider that offers a lot of services, you might pay a bit more, but it’s like getting a combo meal – you get everything you need in one place.

Land Clients & Get Paid

Due to their expertise, many bookkeepers can tailor their services to meet what you need, whether it’s keeping an eye on your client’s income or helping with payroll. However, freelance bookkeepers may have more control over their pricing and may charge higher rates because of their specialized skills or expertise. Overall, there’s no clear answer since income will vary based on individual circumstances.

Full-service bookkeeping (and accounting)

It’s common for people to occupy roles such as Accounting Clerk, Accounts Receivable Clerk, or Administrative Assistant before becoming a Bookkeeper. These positions provide the necessary hands-on experience with financial record keeping and reporting, what is a bookkeeper which is crucial in successfully performing the duties of a Bookkeeper. While a bachelor’s degree isn’t always necessary, a course can help you understand various accounting software for a small business and boost your hourly earning potential.

• We’re going to break down all of those factors to help you decide if bookkeeping is the right online business for you.
• For example, Taxfyle’s bookkeeping service lets you connect to a licensed accountant with years of experience doing bookkeeping for their clients.
• Another factor that affects how much you can charge as a bookkeeper is your level of experience.
• There are three types of certifications for bookkeepers that we recommend.
• Bookkeeping is an essential part of managing any business, regardless of size.
• Outsourcing accounting services allows you to reap the benefits of an accountant without the costs of a full-time employee, such as insurance and other benefits.

• Outsourcing these tasks to bookkeepers can be a big help, especially if you’re not sure how to do them yourself.
• They can handle daily records, pay bills, and make sure you’re ready for tax time by preparing W2 forms.
• While many self-employed bookkeepers work remotely, if you’re providing services locally, hourly rates vary state-by-state.
• Instead of graduate degrees, bookkeepers can earn professional certifications that indicate greater ability.
• Eight key factors will impact the hourly rate you’ll charge for your services.
• Hiring a traditional bookkeeping firm to manage your finances can be costly for a small business owner.

Many people have questions about how much bookkeepers charge and what affects their rates. This part will answer some common questions to help you know what to expect when you need to hire a bookkeeper. Unsurprisingly, the BLS identifies accounting, tax prep, bookkeeping, and payroll services as the industry that employs the most bookkeepers. Bookkeepers still play important roles on accounting teams, especially in the small business world. This bookkeeper salary guide explores ways for emerging and established bookkeepers to improve their job prospects and earning power.

Bookkeeper Online Courses and Training Opportunities

A full-time bookkeeper with plenty of experience can manage anywhere from 5 to 20 clients. Our bookkeepers will give you a clear overview of your business’s financial situation. They will generate precise financial statements, such as income statements, balance sheets, and cash flow statements, giving you all the necessary information. According to the Bureau of Labor Statistics, the median annual wage for hiring an internal bookkeeping, accounting, and auditing clerk is $42,410 annually in the United States. Talking about how much do bookkeepers make an hour, the amount can be around $21.90 per hour. Bookkeepers provide a variety of financial services found in the table below.

When deciding between an in-house bookkeeper and online services, think about how much you’ll need to pay. In-house bookkeepers usually get a regular salary, which means you pay them the same amount regularly, plus benefits like health insurance. Online bookkeeping services might charge lower rates because they work with many clients at once, spreading out their costs. If you have the expertise, you could increase your billable rate by offering payroll in addition to bookkeeping services.

Bookkeeper Pay Rate by Education

Earning a bookkeeping certification involves weeks of studying, hours of test preparation and a significant financial investment. Additionally, maintaining a bookkeeping certification from NACPB or AIPB requires continuing professional development. By taking courses and getting certified, you can land clients as a self-employed bookkeeper and build a successful bookkeeping business from scratch. Entry-level bookkeepers can benefit from certification since they may not have any background in financial documents or have a degree to add to their resumes.