How much do you actually charge per client per month for full service bookkeeping? Nobody talks about this openly
I feel like pricing is this weird taboo in our industry where everyone has a number but nobody shares it. So I'll go first and hopefully other people will too because I genuinely want to know if I'm in the right range.
I charge between $400 and $800 per month depending on transaction volume and complexity. Ecommerce clients are on the higher end because they have way more transactions and inventory to deal with. Service businesses like consultants and law firms are on the lower end because their books are simpler. I manage about 20 clients total as a solo bookkeeper with one part time contractor who helps with data entry.
The thing that prompted this post is I keep seeing people in this sub mention they do full bookkeeping for like $200 a month and I genuinely cannot figure out how that's sustainable. When I say full bookkeeping I mean categorization, reconciliation, monthly close, financial statements, and at least some level of client communication. That takes me about 5 to 6 hours per client per month on average.
Here's roughly how that breaks down for a typical client. Categorization takes about 2 to 2.5 hours for clients with a lot of transactions. Reconciliation is about 1 to 1.5 hours. Close tasks like accruals and adjusting entries take maybe an hour. And client communication plus report delivery is another 30 minutes to an hour depending on how many questions they have.
At 5.5 hours average and $600 per month that's about $109 per hour which sounds fine on paper. But factor in the time I spend on admin, quoting new clients, and fixing things that aren't billable and my effective rate drops a lot.
So I'm curious what everyone else is working with. What do you charge and how many hours does it genuinely take you per client? And if you're charging under $300 per month for full service how are you making that math work? Are you just way faster than me or are you doing less than what I'd consider full service?
Not trying to judge anyone's pricing. I'm just trying to figure out where I sit relative to everyone else because it's hard to know when you're working alone