Texas Bookkeepers: What Are Your Monthly Rates?

I’m currently assessing whether I’m undercharging a client. Although I’m based in South Florida, the client is located in Texas.

Current Charge: $2,500/month includes operations, administration, full-charge Bookkeeping, and multiple weekly meetings. By incorporating all these tasks, I spend approximately 12-14 hours per week. For finance tasks alone, it’s around 5-8 hours weekly.

With a new COO in place, there’s a possibility of renegotiating my rate.

Responsibilities:
– Managing 5 bank accounts
– Handling 1 credit card and 2 lines of credit
– Overseeing a PayPal account and bank transfers
– Preparing end-of-year tax documents
– Conducting monthly, weekly, quarterly, and annual reports
– Managing bill payments and invoicing approximately 12 clients
– Onboarding new employees
– Attending two 30-minute finance meetings weekly
– Coordinating hourly quarterly and monthly meetings
– Processing payroll for 5 employees—soon to be 6—on a monthly basis
– Handling miscellaneous financial tasks like researching unusual expenses

I’m considering raising my hourly rate to $75. Despite this, I’m not inclined to perform the current workload for any less or switch to an hourly payment structure.

Evaluating whether you’re undercharging your client requires a careful analysis of the services you’re providing, the time commitment, and the going rates in the industry. Here’s a breakdown to help you assess your current situation and decide on whether an adjustment in your rate is warranted:

Services Provided

You’ve outlined a comprehensive list of services, including:

Operations & Administration: This includes managing multiple weekly meetings, onboarding employees, and potentially other administrative tasks.
Full Charge Bookkeeping:
Banking: Managing 5 bank accounts, 1 credit card, 2 lines of credit, and PayPal.
Financial Management: Handling bank transfers, end-of-year tax preparation, monthly reconciliations, and generating monthly/weekly/quarterly/annual reports.
Accounts Payable/Receivable: Bill pay and invoicing for approximately 12 clients.
Payroll: Processing payroll for 5, soon to be 6, employees once a month.
Meetings: Conducting 2x weekly 30-minute finance meetings, as well as hourly quarterly and monthly meetings.
Additional Tasks: Researching unusual expenses and miscellaneous finance tasks.

Time Commitment

Overall Time: Approximately 12-14 hours a week across all responsibilities.
Finance-Specific Time: Approximately 5-8 hours a week.

Current Compensation

Monthly Fee: $2,500
Weekly Hours: 12-14
Monthly Hours (assuming 4 weeks per month): 48-56 hours
Effective Hourly Rate (considering full workload):
[
\frac{\$2,500}{48\, \text{to}\, 56\, \text{hours}} \approx \$44.64 \, \text{to}\, \$52.08 \, \text{per hour}
]

Industry Rates

Rates for Bookkeeping and accompanying administrative services can vary greatly depending on several factors, including geographical area, experience, complexity of services, and market demand. In Texas, experienced bookkeepers can charge anywhere from $50 to $100 per hour, especially when considering full-charge Bookkeeping along with additional operational and administrative tasks.

Considerations

Complexity & Responsibility: Given the scope of your services, $44.64 to $52.

One response

APAdmin

26 February 2025 at 2:18 PM
Evaluating whether you’re undercharging your client requires a careful analysis of the services you’re providing, the time commitment, and the going rates in the industry. Here’s a breakdown to help you assess your current situation and decide on whether an adjustment in your rate is warranted:

Services Provided

You’ve outlined a comprehensive list of services, including:
- Operations & Administration: This includes managing multiple weekly meetings, onboarding employees, and potentially other administrative tasks.
- Full Charge Bookkeeping:
- Banking: Managing 5 bank accounts, 1 credit card, 2 lines of credit, and PayPal.
- Financial Management: Handling bank transfers, end-of-year tax preparation, monthly reconciliations, and generating monthly/weekly/quarterly/annual reports.
- Accounts Payable/Receivable: Bill pay and invoicing for approximately 12 clients.
- Payroll: Processing payroll for 5, soon to be 6, employees once a month.
- Meetings: Conducting 2x weekly 30-minute finance meetings, as well as hourly quarterly and monthly meetings.
- Additional Tasks: Researching unusual expenses and miscellaneous finance tasks.
Time Commitment
- Overall Time: Approximately 12-14 hours a week across all responsibilities.
- Finance-Specific Time: Approximately 5-8 hours a week.
Current Compensation
- Monthly Fee: $2,500
- Weekly Hours: 12-14
- Monthly Hours (assuming 4 weeks per month): 48-56 hours
- Effective Hourly Rate (considering full workload):
  [
  \frac{\$2,500}{48\, \text{to}\, 56\, \text{hours}} \approx \$44.64 \, \text{to}\, \$52.08 \, \text{per hour}
  ]
Industry Rates

Rates for Bookkeeping and accompanying administrative services can vary greatly depending on several factors, including geographical area, experience, complexity of services, and market demand. In Texas, experienced bookkeepers can charge anywhere from $50 to $100 per hour, especially when considering full-charge Bookkeeping along with additional operational and administrative tasks.

Considerations
1. Complexity & Responsibility: Given the scope of your services, $44.64 to $52.
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Texas bookkeepers – what are you charging per month?

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