So, How much are bookkeeping fees?
Well bookkeeping fees can be as little as £30 a month, or as much as £800+ a month.
Why such a big difference in price? Let me explain, it’s quite simply due to every business having different requirements.
But, to give you an idea of some prices, below a few scenarios with price ranges to help you get a rough idea of which price range your monthly bookkeeping nett fees would fall in:
- Stephanie the Plumber a sole trader and has just left her PAYE job and is going it alone. She has no employees and is not VAT registered. She invoices a handful of clients a week, goes to the wholesaler several times a week, fills her van once a week and pays rent on a small storage container. Monthly fees between £30 – £85
- Joseph the Decorator is a Limited Company and has been running his decorating business for 14 years, he pays 3 painters on PAYE and has another 4 that he calls on for big jobs who are self-employed and he pays them CIS. He is VAT registered. He invoices big companies twice a month, pays his staff monthly, who all contribute to Auto Enrolment Pensions, has an average of 40 supplier invoices and 100 bank transactions a month. Monthly fees between £145 – £637
- Phil the On-line Consultant is a 3 year old Limited Company which sells an on-line product that his clients pay for monthly via PayPal. He has no employees but is VAT registered and has to deal with VAT MOSS, due to having clients outside of the UK. He generates 150 monthly invoices, has maybe 15 monthly supplier invoices and around 30 bank transactions per month and 160 PayPal transactions per month. He has Director payroll but has opted out of Auto enrolment. Monthly fees between £175 – £610
- Edith the Florist is a Limited Company and runs a florist on the high street. She has 2 part-time employees and a Saturday girl and is VAT registered. Her takings are by cash or merchant card. She pays her staff weekly, has an average of 70 supplier invoices and 150 bank transactions a month. Monthly fees between £253 – £838
You might also want to think about ….
Once your covered, the input of your sales and expenses, and we have checked your bank against your accounts the add-ons available include:
- Cloud based accounting software
- Collection of paperwork from your office
- App to upload paperwork securely to the internet
- Merchant Reconciliation
- PayPal Reconciliation
- Credit Card Reconciliation
- Payroll for Directors
- Payroll for Staff
- Payroll fast track service
- Construction Industry Scheme preparation and submission
- Monthly management accounts with KPIs
- VAT preparation and submission
- Annual Return
- Annual Accounts to HMRC
- Annual Accounts to Companies House
- Personal self-assessment tax returns for directors or sole traders
- Bound set of accounts for retention
- Tax Protection Insurance
- Annual Tax Advice Review
- Assessment of expenses to determine if anything can be minimised
- Monthly reviews of your KPI’s to assess current trends and industry benchmarks
- Annual goal and budget setting
- Accountability programmes to assist you to hit goals and budgets.
As you can see there are many aspects that will influence the exact price of your bookkeeping, however, we ensure that all options included in the proposal are a benefit to you and the future growth of your business.
TI Accountancy’s tag line is “treating your business as if it was our own” and each team member is trained and continually educated in a way that they become an integral part of your company and care about your success as much as you do.
Unfortunately, some people only focus on the basic price and their only interest is to get their bookkeeping done as cheaply as possible, therefore sacrificing expertise and getting a low quality service which inevitably leads to regret and a very messy bookkeeping system with incorrect or incomplete reports … not what any driven entrepreneur needs when they are striving for success.
If you’d like a quote then we would love to hear from you.
You can either contact us via phone on 01229 813388
or email us on email@example.com
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