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What are the average bookkeeping costs for small businesses?

As a small business owner, what can you expect to pay for bookkeeping? How much will bookkeeping set me back per month?

Amanda Hoffmann - Certified Bookkeeper, BAS Agent

Amanda Hoffmann - Certified Bookkeeper, BAS Agent, Owner / Manager ★ Certified Bookkeeper ★ BAS Agent at My Office Books - Virtual Bookkeeper & BAS Agent

Top 10% Accounting

What services do you want your bookkeeper to perform?

 

STANDARD BOOKKEEPING (No BAS services)

 

If you want standard bookkeeping duties that do not include BAS services then you would be looking at using a virtual assistant, admin assistant, or bookkeeper to complete those tasks. 

 

The cost will be more expensive if you insist on them coming to you, as opposed to working online. 

 

Virtual assistants cost anywhere from $35 hour plus

Virtual bookkeepers cost anywhere from $25 hour plus

 

Onsite will generally cost you anywhere from $55 hour plus

 

A contracted bookkeeper cannot advise you about anything like superannuation, payroll, GST, or indirect taxes. They are strictly working on the defaults of your accounting software. You will not be covered by the Australian Taxation Office’s safe harbor regime that protects you if your registered BAS Agent or Tax agent makes a mistake. 

See https://www.ato.gov.au/tax-professionals/prepare-and-lodge/tax-agent-lodgment-program/safe-harbour/

 

FIXED PRICED PACKAGES

 

These days, most Tax Agents or BAS Agents will offer a fixed price package that offers a range of services. The below will “help” but not necessarily cover all questions you might have.

 

Simple Bookkeeping from $88 plus a month

Excel sheet or accounting software provided by you, the client

Bank Feeds coded by rules

Bank reconciliation

No payroll or superannuation

 

Mid Range Bookkeeping/BAS Preparation from $150 plus a month

Accounting software supplied with the smartphone app to capture receipts

invoices/expenses matched and/or bank feed rules

Bank reconciliation

Possibly 1 employee + super + STP

Quarterly BAS as part of the monthly package or charged separately

 

Higher Range Services - Usually requires a quote based on workload + payroll requirements

Accounting software supplied with the smartphone app to capture receipts

All invoices/expenses matched to the bank feeds

Bank reconciliation

Staff Payroll + Superannuation + STP

BAS completed as part of the package or charged separately

 

Other services that may be included in a fixed fee package, or may not

FBT installment 

Luxury car tax

Fuel tax credits

Taxable Payments Annual Report

PAYG Annual Reporting

End of Financial Year reconciliations and Reporting 

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Hatty Bell

Hatty Bell, Community Manager at

This is so useful @Amanda Hoffmann - Certified Bookkeeper, BAS Agent ! Will a  bookkeeper/tax agent just do you tax return for you at the end of the year or is it best to work with someone every month so they understand your business?

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