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Hourly Rates for Bookkeepers
Hourly bookkeeper rates vary greatly. I have seen US companies advertising bookkeeping rates of $10/hour and others charging over $100/hour for bookkeeping services. However, the majority of bookkeepers charge from $40/hour to $75/hour for their services, which from my experience is what competent bookkeepers should charge. I would caution companies to question the competence of a bookkeeper charging less than $40/hour and to think twice before paying more than $75/hour for bookkeeping services.
Some bookkeepers charge by the week or month, by the number of transactions, or for specific jobs. Given that it is very difficult to assess how long a job will take for an unknown client, I strongly recommend that bookkeepers not do this unless they have worked with a client for a long time and therefore can be sure they are setting an appropriate price. Likewise, I caution companies to question the quality of work they will receive when they engage a bookkeeper for a very low rate for an unspecified amount of work.
For more information and thoughts, check out Intuit's 2007 Rates Survey and the The American Institute of Professional Bookkeeper's 5 Ways to Succeed as a Freelance Bookkeeper.
