If you are looking into becoming a bookkeeper you are probably wondering, how much do bookkeepers make? In return, it’s important to ask if you are talking about a bookkeeping employee or as a bookkeeping business owner?
How Much Do Bookkeepers Make?
There is a huge difference between the two as far as income potential. So, let’s get this one out of the way. A hired full-time hourly bookkeeper can earn an average of around $41,000 a year, or about $20 an hour.
Now, if you are someone that has followed this site in the past, then you know by now that there is much more opportunity in the world of bookkeeping.
How about bookkeepers that run their own business? How much can you earn as a freelance bookkeeper working from home?
Would you believe me if I told you that you can make somewhere in the ballpark of $80 an hour? Now, there are a couple of things worth mentioning here. If you are simply looking into doing data entry for your clients, asking for $80 an hour is simply not logical.
If you are going to go after earning a premium wage then you are going to have to supply premium services. By this, I mean that you are going to need to know how to be the absolute best bookkeeper possible.
If you can do this, clients will gladly pay you for your services. It really is as simple as that! You just need to know how to prove to your clients that you are worth every penny.
In saying that, there are going to be businesses that think this is too much to pay a bookkeeper. In reality, if there is one area that a business should never look for a deal, it is when they are dealing with bookkeeping.
If a potential client complains that you charge too much even after you have proven your worth, then simply move on. These are clients that you should stay away from anyways as they will only bring you headaches down the road.
After all, you want to enjoy what you do, not dread it.
What Are Your Clients Paying You To Do?
To determine what you are going to charge for your bookkeeping services you need to ask yourself what your clients are paying you to do. Are they paying you to simply complete a set of tasks? If so, being able to land somewhere in that $80 an hour mark is going to be difficult.
Remember how I said that you need to be the best bookkeeper? This is how you are going to earn those premium wages and your clients will be happy to do just that.
- You are getting paid to solve a problem.
When it comes to bookkeeping, this makes business owners head spin. They don’t understand it. This is where you step in. You need to find and suggest ways to improve their bottom lines. You need to make sure that everything matches up. If there were errors made in the past, you need to find and fix those problems. Once you become familiar with a client, you will begin to see ways that will improve and increase the cash flow for that business. This is one way to provide a top-notch service and demand a premium wage.
2. They are paying you for the convenience
Most businesses want nothing to do with keeping up with their books. It simply takes up too much time to do so. In addition to that, most businesses that do keep their own books are not doing it right which causes them major headaches down the road. Being able to remove this headache from their lives is a major bonus. By taking this concern away from them you instantly provide value.
3. They are paying you to make sure their financials are in order so that the business can grow.
If everything is done right, which it will be, then your client’s business will grow simply because you are their bookkeeper. Think about this for a second, if you can show a client how to increase their profits by $50,000 a year by making a couple of simple changes, do you think they are going to care if they are paying you $80 an hour instead of $30 an hour? Of course not! Keep in mind that it takes about 4 hours a month with an established client, so you are comparing $120 for the month to $320.
You Are Not A Data Entry Clerk
It comes down to this, if you simply want to enter the numbers and be done you will never be able to earn that $80 an hour mark… and you shouldn’t!
You need to learn how to be much more than a number cruncher to earn more money. Play a role in your client’s business and you will reap the benefits of it.
Actually care about what you are doing and focus on providing a top-notch service. Be there when your clients have questions. Even if those questions are not bookkeeping related (this is really where you want to be) be there to answer them or lead them to where they can get those questions answered.
Learn to be a bookkeeper of the 21st century and, in return, you will have a thriving bookkeeping business. Here is what it comes down to in the end. A data entry clerk is going to earn you about $20 an hour. Going above and beyond and then becoming a trusted adviser is going to earn you $80 or more an hour. Where do you want to be?
Do you want to be just like every other bookkeeper out there or do you want to be the best possible bookkeeper and stand out? Do you want to struggle to find clients or do you want clients coming to you?
You need to learn how to do this. Where do you turn to learn these skills? Whether you have previous bookkeeping experience or no experience at all, there is one course that you can turn to to get everything you need to run a successful bookkeeping business.
Learn everything you will ever need all in one place. Your first step is to check out my complete review of this amazing program to get a complete rundown of what it’s all about and what you will get on the inside.
How much do bookkeepers make? I don’t expect you to simply take my word for it. Do some more research by checking out the review and you will begin to get a better idea of what this program is all about and the potential that comes with it.
Got something to add? Drop it in the comments below and I will get back to you ASAP.