How Much Do Bookkeepers Charge in Australia?
Published on May 04, 2023
Being a business owner in Australia is an enormous feat in and of itself. You’re wearing multiple hats all in a day’s work. With so much on your plate, managing your financial records can become an overwhelming task that demands time and attention better spent on growing your business. The good news is that bookkeeping services can alleviate the burden.
So how much do bookkeepers charge? In Australia, bookkeeping services range from $25 to $60 per hour – but a lot of factors affect the price. At The Bookkeeping Studio, we use a weekly rate (from $99 up to $210+) that varies depending on the size and needs of your business.
Price Range of Bookkeeping Services Australia
Typically, bookkeepers charge on an hourly basis, with rates spanning from $25 to $60 per hour, depending on the level of expertise and services offered. For more comprehensive support, such as financial reporting or payroll, the costs can rise to $70 or more per hour.
Some bookkeeping services offer fixed-price packages tailored to the specific needs of small businesses. These packages include more complex services – like bank reconciliation, accounts payable and receivable management, and financial reporting – for a set monthly or annual fee.
Find a team of experts that will best meet your needs. For example, if you’re running a larger business with lots of transactions, employees, and inventory, you may require a more experienced bookkeeper and, consequently, pay higher fees.
| Factor | Description | Price Impact |
|---|---|---|
Hourly Rate | Bookkeepers charge on an hourly basis, depending on their level of expertise and services offered. | $25 to $60 per hour, up to $70+ for more comprehensive services |
Fixed-Price Packages | Some bookkeeping services offer tailored fixed-price packages for specific business needs. | Varies depending on the services included in the package |
Size and Complexity of Business | The size and complexity of a business will affect the level of bookkeeping expertise required. | Larger, more complex businesses may require higher fees, while smaller businesses may find more affordable options sufficient |
Services Required | The types of bookkeeping services needed, such as bank reconciliation, payroll, or financial reporting. | More specialised or comprehensive services may increase the cost |
Pro tip
While lower rates may be initially appealing, the knowledge and efficiency of a more experienced bookkeeper could save your business a lot of money in the long run.
How Bookkeeping Services Can Save You Money
1. More Affordable Compared to Accounting Firms
Hourly Rate in Australia
Bookkeepers: $25 to $60/hour
Accounting firms: $100 to $300/hour
The affordability of bookkeeping services enables you to benefit from the expertise of a finance professional without breaking the bank. You receive essential financial management support without the hefty price tag and negative impact on your bottom line.
This cost-effective approach allows small business owners in Australia, like yourself, to allocate more resources towards other critical aspects of your venture, such as marketing or product development.
2. Focus on Growing Your Business
Speaking of allocating resources, outsourcing to bookkeeping agencies gives you the opportunity to refocus your attention on the core aspects of your business. You can have peace of mind knowing that your accounts are accurate, up-to-date, and compliant with relevant Australian regulations.
With an expert managing your financial records, you can dedicate your time and energy to activities that drive growth, such as developing new products or services, expanding your customer base, and refining your digital marketing strategies.
3. Easy, Seamless Tax Experience
One of the most dreaded aspects of running a small business is tax season. With the help of a professional bookkeeper, this annual event can become a significantly less stressful experience.
Accurate bookkeeping can also minimise the risk of errors in your tax filings, reducing the likelihood of penalties or audits from the Australian Taxation Office (ATO).
Trust me – you don’t want the ATO knocking on your door asking for all the receipts you’ve already thrown away.
4. Increase Efficiency With Bookkeeping Software
In today’s digital age, bookkeeping software plays a crucial role in streamlining financial management for small businesses. The best bookkeepers embrace technology by automating processes, reducing manual data entry, and accessing financial information in real-time. I personally like using Xero for my day-to-day tasks.
Bookkeeping software also allows for more effective collaboration between you, your bookkeeper, and your accountant. By using cloud-based systems, all parties can access up-to-date financial data, enabling faster and more informed decision-making. This way, you can readily identify areas of opportunity or concern.
Many bookkeeping software solutions offer integration with other essential business tools (e.g., payroll systems, inventory management, invoicing platforms) which allows your business to operate smoothly and effectively.
Get Small Business-Friendly Rates for Bookkeeping Services Australia From Just $99/Week
By outsourcing your financial record-keeping to a bookkeeper, you can save valuable time, reduce stress, and focus on doing what you do best – growing and nurturing your business.
At The Bookkeeping Studio, we’re committed to providing exceptional, tailored bookkeeping services that cater to your specific needs. Our rates start from $99 per week. You can rest assured that your financial records are in capable hands. View our monthly bookkeeping packages here.
Hey, my name’s Bindi Gethen! I’m the founder of The Bookkeeping Studio in Australia. With over 15 years of experience in the industry, I have a deep understanding of the challenges that small and medium-sized business owners face when it comes to managing their finances.
I am passionate about empowering my clients with the financial information they need to succeed. My team and I pride ourselves on our commitment to exceptional value, accuracy, and confidentiality. Our virtual bookkeeping services include payroll, budgets, and management reporting, among others.
Not to toot our own horn, but we can assure you that you won’t find a bookkeeping partner like us anywhere else in the Southern Highlands.
