United States
Staffed with 100% US Employees

How Much do Professional Bookkeeping Services Cost?

November 30, 2021 by Jordan Henri

There’s no denying that effective bookkeeping is a vital aspect of any business aspiring to run as efficiently as possible. 

In order to accomplish this, there are two common routes:

  1. Spend the time recruiting and hiring an in-house bookkeeper with the necessary skills and experience
  2. Use professional bookkeeping services to handle your books

The in-house method is often the most common. But is it the more efficient route to take?

The price of professional bookkeeping services often varies depending on a variety of factors. We’re here to help you understand the factors that go into the cost of bookkeeping, and even some baseline OSYB costs and ranges. 

But first, let’s cover what professional bookkeeping services entail. 

What Are Professional Bookkeeping Services?

Professional bookkeeping services, contrary to hiring an in-house bookkeeper, involve outsourcing your bookkeeping to an external company. This company employs a team of bookkeeping professionals who keep your books up to date and ensure you are kept in the loop. 

Instead of paying a salary to an in-house bookkeeper, professional bookkeeping services typically charge a monthly fee. 

Using outsourced bookkeeping provides various different advantages over the in-house route, many of which we’ve talked about previously on our blog

In-House Bookkeeping Cost Factors

According to Salary.com, the average in-house bookkeeper salary is around $46,692. 

While this may be a perfectly reasonable number, there are a variety of other factors that affect the cost of hiring and employing a full-time bookkeeper in-house. Some of these include:

  • Employee benefits
  • Sick leave
  • Paid time off
  • Hiring process costs
  • Recruiter costs
  • Office space
  • Office equipment (desks, computer, chairs, etc.)

It’s important to know the various cost factors associated with an in-house hire.  Because these different factors are often forgotten about in the grand scheme of hiring a bookkeeper, the costs can often climb much higher than that initial average salary. 

How Much Does OSYB’s Professional Bookkeeping Service Cost?

Let’s get back to the question at hand: How much do professional bookkeeping services cost?

As a provider of professional bookkeeping services, we can elaborate on OSYB-specific costs. The short version is that they vary depending on the complexity and volume associated with each client. In general, our costs have proven to be less than our clients were paying for their in-house accounting staff and more timely.

However, to dig a little deeper, OSYB’s services typically start out as low as $500/month. 

“But are there cheaper options out there for professional bookkeeping services?”

There may be cheaper options out there than OSYB but the quality and professional work product will not compare. At the end of the day, you get what you pay for. Certain aspects of OSYB bookkeeping services, such as the software experience, levels of partner review, and access to US-based staff separate OSYB from lower-cost providers. 

Conclusion

Professional bookkeeping service costs can be tough to navigate, with the many factors that go into them. 

It’s important to us for you to establish a baseline or a ballpark figure for the costs of professional bookkeeping services. 

With this, you can see just how much you can save by switching to professional bookkeeping services, which can easily top out in the tens of thousands of dollars depending on your situation. At the very least, it doesn’t cost you a thing to find out how moving to professional bookkeeping services can both save you money and improve your bookkeeping efficiency. Book your free consultation with us today and learn how OSYB can help you both save money and improve the efficiency of your bookkeeping at the same time.