What Does the Average Cost to Hire a Bookkeeper in 2019 Mean for Small Businesses?
- Expanding businesses need to weigh the potential bookkeeper cost against clerical burdens on current staff.
- Hiring an in-house bookkeeper can be expensive, but the job needs doing one way or another.
- Outsourced bookkeeping firms like SyncLedgers offer a better value and high convenience!
Every business has to weigh the economic advantages and costs of hiring more staff against the cost of leaving current employees with heavy burdens. Every area of the company feels the effects of the decision either way. One thing is clear: You can’t keep growing without the right people for the right jobs. When you’re dealing with less work, it makes sense to save yourself the bookkeeper cost by doing your own accounting.
At some point in your growth journey, though, you’ll find yourself with too much to do and not enough time to do it. You’ll have to make a choice. Which tasks will you focus on, and which ones will you delegate?
Here’s the first area where we think you’ll agree with us: your money is too important to be left to chance. And secondly, unless you yourself are a professional accountant, maintaining your ledgers is not what you got into business for. You’ll need to get someone to help you do this, so you can focus on the parts of your business that really motivate you with passion.
Median Bookkeeper Cost
Here’s the kicker, though. Hiring a bookkeeper is not the same as hiring an entry-level stock or data-entry clerk. It’s also very different from hiring sales staff who directly contribute to increasing revenue. Bookkeeping is an essential task but except insofar as it helps avoid costly mistakes, it’s also not a profit center.
In the United States, the median bookkeeper cost is an $18.87 per hour wage, or an annual salary of about $39,240 per year, according to the most recent data available from the Bureau of Labor Statistics.
That’s a big chunk of cash for some businesses!
Keep in mind, too, that this is the median bookkeeper cost, meaning that half of bookkeeping employees will earn less, but the other half will have even higher salary requirements!
Likewise, the more your company grows, the more bookkeepers and accountants you’ll need to hire, with increasing specialization. You may probably have to offer increasingly competitive salaries to compensate workers for the additional burdens, too.
SyncLedgers Specializes So You Can, Too!
If you’re finding the costs of expansion daunting, it’s worth taking a look at business process outsourcing.
Some business owners may at first find shocking the idea of outsourcing a process as critical to their company’s financial success as its bookkeeping, but there’s really no reason not to embrace it.
Firms like SyncLedgers that specialize entirely in bookkeeping for their clients offer distinct advantages over the costs of keeping the process in-house.
By specializing, we’re able to devote our full time and resources to the particulars of accounting. This makes us both more efficient and more effective.
We have our own dedicated office spaces and technological infrastructure that integrates directly with our clients’ preferred accounting software. That saves our clients substantial amounts of money on overhead, not to mention setup time. We also cover the human resources process. By finding and hiring the best people for your team, we save time while letting you keep control through final approval.
We take advantage of the capabilities offered by modern communications tools. This allows us to empower our clients to work as closely and directly with our bookkeepers as they need to. Just scan or forward all your paperwork to us, and we’ll do the rest. We organize, categorize, and enter all your financial data. We then generate clear and transparent reports to provide a complete picture of your finances.
Best of all, we do it at a better value than you’ll ever achieve in-house.
So contact us today to get started!