Hey everyone, first year in business for us here on the east coast as an S-Corp and looking for some ballpark advice on what your accounting costs are. We don’t have a massive amount of transactions but are finding we need help with the tax reconciliation/closing each quarter. We’ve been quoted $700 per quarter for month end closing and quarterly bookkeeping.
Is this is a reasonable range?
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S Corp here. Quarterly taxes plus end of year filing and books. About 3600 usd per year. I just come in and sign stuff. They have a login to my business banking account with permissions to only view. Literally the best move I’ve ever done. I can’t even fathom how much time they’ve saved me.
I’m sales tax exempt, but I do that myself every quarter online.
Honestly, it all depends on how much cash flow you have a month, are they licensed, and maybe looking into an in house accountant.
That’s pretty cheap. My optimal small client is $500 monthly, at least. If you throw payroll quarterlies on top of that I’m definitely charging more.
It totally depends on the amount of transactions you have and the complexity of those transactions. I’ve had companies that have had less than maybe 50 a month and I was charged roughly what you were charged. I didn’t have them handle payroll. I’ve seen some bookkeepers try to charge a standard monthly fee and others abide me a strictly hourly one.