Pricing For Business
My mother always told me, “you get what you pay for.” This statement holds true now more than when I was a child many years ago.
She followed along with, “No one is going to gift you anything. If you want to pay for quality, you will receive quality; if you decide to save on quality, you will receive less quality. Plain and simple.”
With that all said, let’s discuss price, shall we?
We have two price structures as of 2021; our bookkeeping services rate is at $95 per hour, and our tax services rate at $220 per hour.
The next question we typically receive is how many hours will it take to prepare our bookkeeping or tax return? The answer will ultimately depend on you.
It is tough to gauge precisely how many hours it would take to prepare many things as each business and situation varies greatly.
Our Custom Approach And Solution
We want our clients to know “what they are walking into,” as do we. As mentioned above, the estimate process is a highly complex one. Even with all the years of experience, we have attained, it will never suffice to eyeball a price; we can come reasonably close with straightforward situations, but not with a business in the development phase or an existing phase. The longer the company has been in business, the more complicated it may get.
As mentioned on our onboarding processes for business, we break down business engagements into two pieces.
1) Retroactive engagement
2) Maintenance and advancing engagement
To add to the complexity, additionally, each engagement is each own engagement, which means if we are engaged to perform bookkeeping services, it would be one engagement agreement. If we are also to perform the tax preparation for that business, that too would be its separate engagement contract.
Custom Estimates Process For Bookkeeping Engagements
We currently charge a flat $220 service fee to go through the accounting records and to gauge the number of hours that will need to be required to complete the project at hand.
Please continue on from here to see where you fit in.
- Retroactive Engagement
- Information Gathered For Estimates
- Cost Driver For Estimates
- Putting It All Together