What do you pay your bookkeeper

[Kyle Pierce]

Hi BP I’m wondering how much do you typically pay your bookkeeper? Do you pay them hourly or a monthly fee? And, do you have an In-house bookkeeper or do you outsource this? Also, what type of real estate strategy are you pursuing? Thanks!

[Ben Day]

@Kyle Pierce

Hey Kyle!

It definitely depends on what you’re looking for, and who your bookkeeper is. I’ve noticed that general bookkeeping contractors will bill at an hourly rate that could be all over the map.

The more popular and blatantly effective way to pay for bookkeeping is through flat rate pricing. This way you and your bookkeeper can define the scope of your engagement, you don’t get surprised by any extra “hours worked”, and you have more control over your bookkeeping costs.

Everyone has different pricing for this. It mostly depends on the end result you’re looking for. Quarterly reports will bill differently than monthly reports, and what is included in those reports will vary between providers. The most important thing is finding a knowledgeable bookkeeper that meets your requirements.

Hope this helps!