Are you wondering how much does a bookkeeper charge per hour in Melbourne? As you search, you’ll find different rates of bookkeeping services on an hourly basis. In today’s blog, we’ll talk about the cost of bookkeeping services in Australia.
What are Bookkeeping Services?
Before you look for the cost of bookkeeping solutions, you must know what exactly bookkeeping is. From handling payroll to accounts payable and receivable management, a professional bookkeeper takes care of everything related to your business finances and ensures you are never left scrambling for details of your business finances when tax season is around the corner.
A bookkeeper keeps track of all of your financial transactions and gathers data for broad financial reports. Then, using such financial reports, business owners can increase a company’s development and profitability by making more informed financial decisions.
How Much Does a Bookkeeper Cost in Melbourne?
According to different sources, it has been estimated that the average cost of a senior bookkeeper in Melbourne, Victoria is AU$33.94/hour. However, based on the job’s complexity, rates can go high. Being a small business owner, your demands regarding financial services might be less as compared to larger companies. Choosing a bookkeeper with experience for a small business means you can access professional support that best matches your requirements.
Here is an average and estimated hourly cost:
• General bookkeeping: $80-100/hour
• Ongoing bookkeeping: $150-200/hour
• Setting up software: $120-150/hour
• Bank reconciliation: $170-200/hour
• BAS and GST: $250-300/hour
• Accounts payable: $250-300/hour
Moreover, to get an accurate quotation for accounting and bookkeeping services, it is suggested to speak to a professional bookkeeper and accountant directly. Hiring a professional bookkeeper will save you time and make sure your business finances are in order.
Basic Bookkeeping Costs
Part-time bookkeepers may charge between $400 and $800 per month for basic bookkeeping. However, the rate may vary from one bookkeeper to another and according to their services. The best approach is to keep your work record and hire someone who can manage your tasks so you can pay for the bookkeeping solutions you are getting from a bookkeeper. Once you are ready for an experienced Melbourne bookkeeper, you should find an option that best matches your needs. You can opt for a part-time bookkeeper, full-time, or outsourced bookkeeping solutions.
What Factors Can Have Impact on Bookkeeping Costs?
Different factors can have an impact on the rate of bookkeepers of Melbourne. Here is an overview of the most important factors:
• Geographical Location
The bookkeeper’s geographical location matters a lot and plays a crucial role in how expensive the bookkeeping solution will be. The rates may vary based on the states in Australia.
• Education Level
The number and type of certifications a bookkeeper has can have a direct impact on the actual cost of their service. Therefore, when you hire a bookkeeper, make sure to check their qualification so you can decide how much they deserve.
Having years of experience is important. The more experienced the bookkeeper, the more they are likely to have skills. As a result, they may expect or demand high monthly costs for bookkeeping solutions. It is suggested to consider the experience of a bookkeeper when hiring one for your company. Seek help from professional bookkeepers who already have worked with similar businesses. In addition to this, make sure they have experience in the accounting software your company uses.
• Types of Services Offered
A bookkeeper can offer a wide range of bookkeeping solutions. The number of tasks you give them directly has an impact on the cost of bookkeeping services. Different businesses need different services that can affect the overall cost.
• Accounting Software
The type of accounting software used can affect the cost of the service. Although, you can find someone who has enough experience working with software that your company uses.
The process of hiring a bookkeeper isn’t always simple. Experience, education, and certificates are the most crucial aspects that determine the whole cost. With any luck, you now have a clearer understanding of the range of prices associated with different bookkeeper solutions, and you can also get in touch with a Reliable bookkeeping Services provider for bookkeeping quotes.