What Are Texas Bookkeepers Charging Per Month?
I’m currently assessing whether I’m undercharging a client. My business is based in South Florida, but my client operates out of Texas.
I charge $2,500 per month, which covers operations, administration, full-charge Bookkeeping, and several weekly meetings. Altogether, this amounts to approximately 12-14 hours of work per week. If I focus solely on the financial aspects, the time commitment is around 5-8 hours weekly.
With the arrival of a new COO, there’s a possibility they might want to renegotiate my rate.
Here’s a snapshot of what I manage:
- 5 bank accounts
- 1 credit card
- 2 lines of credit
- PayPal account
- Bank transfers
- Year-end tax preparation
- Monthly reconciliations
- Monthly, weekly, quarterly, and annual reports
- Bill payments
- Invoicing for approximately 12 clients
- Employee onboarding
- Two 30-minute finance meetings every week
- Quarterly and monthly meetings on an hourly basis
- Monthly payroll for 5, soon to be 6, employees
- Miscellaneous financial tasks, such as researching unusual expenses
I’m contemplating raising my rate to $75 per hour, but I’m firm that the current workload cannot be sustained at a reduced rate or on an hourly basis.
One response
Determining fair compensation as a bookkeeper involves considering the range of tasks performed, the hours worked, regional pricing norms, and the value you provide to your client. Based on the details you’ve shared, let’s break down and analyze your current situation:
Current Compensation and Responsibilities
Responsibilities Managed
Your responsibilities as described suggest a wide range of duties:
Market Considerations
Before deciding whether to adjust your rates, consider the following factors:
Regional Norms: Though your client is in Texas, your presence in South Florida might affect your pricing due to cost of living differences. Typically, bookkeepers in metropolitan and high-cost areas charge more.
Scope of Work: The breadth of your duties goes beyond typical Bookkeeping, indicating more of a managerial or CFO-lite role, especially when considering admin and ops involvement.
Industry Standards: Bookkeepers in the U.S. on average charge anywhere from $30 to $60 per hour, but this can escalate to $75+ for complex tasks, additional responsibilities, or more specialized financial management roles.
Financial Analysis
You mentioned wanting to charge $75 per hour. Let’s analyze your potential earnings based on your weekly hours: