Do It Yourself
Your Time
10 hour/month = 120 hours/year
You handle all transactions, bills, invoices & reconciliations
What is your time worth?
Opportunity cost:
Those 10 hours could be spent finding new leads, generating revenue and growing business
ESTIMATED MONTHLY COST
Your Time
Bookkeeping Economics
See the Real Value
Every business is different, and so is every bookkeeping need. Here is a side-by-side look at the real costs so you can compare your options and choose what makes the most sense for your business.
The Same Scenario Applies to All 3 Options Below
The following activity levels are used for each option below:
200 transactions per month
20 vendor bills per month
20 customer invoices per month
1-2 bank & credit card reconciliations
Do It Yourself
Your Time
10 hour/month = 120 hours/year
You handle all transactions, bills, invoices & reconciliations
What is your time worth?
Opportunity cost:
Those 10 hours could be spent finding new leads, generating revenue and growing business
ESTIMATED MONTHLY COST
Your Time + Loss of Revenue
Part-Time Employee
Wages + Overhead
$1,920 - $2,400
Wages only
Based on 3 days/week x 8 hours/ day x $20-25/hour
Plus additional employee costs:
Employer payroll taxes
Benefits
Workers' Comp
PTO + Sick time
Coverage when absent
Management & supervision
Recruiting & onboarding
Computer, equipment, software
Office resources
Outsourced Bookkeeper
Fixed Monthly Fee
$1,080/month
One predictable monthly fee
Based on example scope
No employee overhead, no benefits, no PTO, no equipment, no coverage costs
IMPORTANT: Actual costs vary based on transaction volume, accounts, services and complexity. This chart gives you a general idea so you can make the best decision for your business.
