The traditional and most common method of charging for bookkeeping and accounting services is using an hourly rate.

Traditional Costs of Bookkeeping and Accounting (Billed Hourly) At Avalon, we also add empathy and even emotional support to the role of an accountant it can be a lonely road running a business, and we want to help entrepreneurs thrive however we can. They also play a key role in reducing taxes where possible. Preparing and analyzing financial statements to help the business owner make decisionsĪccountants aim to provide business owners with an understanding of their financial reporting to drive intelligent, informed decision making.Preparing adjusting entries to record information such as inventory adjustments, tax estimates, and other accruals (expenses that have occurred but aren’t yet recorded by the bookkeeper).AccountingĪccounting can be described as processes that use the information recorded by the bookkeeper to produce higher-level information and reports. The complexity of this job depends on the size of the business, number of transactions to be recorded, and the nature of those transactions. The bookkeeper is in charge of making sure that all transactions are recorded accurately. Tracking sales taxes (GST / HST / PST etc.), and filing returns.Recording and paying bills on their due date.Recording financial transactions and reconciling accounts at the end of each month or week.We have written in detail about what a bookkeeper does in Canada, but the very basic function of a bookkeeper is to record the transactions of a business in a consistent way. These two terms are often used interchangeably, but there is a significant difference between bookkeeping and accounting services. To understand pricing, it's helpful to know the difference between bookkeeping and accounting. What is the Difference Between Bookkeeping and Accounting?

Freelance bookkeeping hourly rate