Bookkeeping Rates In Ottawa:
At ENVOLTA Inc, our aim is to provide you with an efficient, high quality service at a reasonable cost. When first scoping a project, we will meet with you to discuss your business, determine what you want to achieve, and how we could assist you in reaching your goals. Generally, our fee is based on an hourly rate and the time it takes us to complete the work. We also offer a flat rate package. After a 3 month period of continued service and the work we have done with the client is consistent, we can offer a flat monthly rate.
Bookkeeping service fee charged by the hour:
Some bookkeepers charge out their bookkeeping service at a basic hourly fee with a set minimum charge. The average rate for general bookkeeping services in Canada right now is $56/hour. The most commonly used rate was $50/hour and software is QuickBooks (from Intuit- http://quickbooks.intuit.ca/)
Bookkeeping service fee charged as a flat fee:
The second method that bookkeepers charge is by an agreed upon, in advance, a fixed monthly charge. This charge is usually based on a combination of so much per number of transactions plus a fixed amount to cover preparation of financial statements and a monthly (or quarterly) meeting with you to discuss your financial results.
If you are a small business owner wondering how much to budget for bookkeeping services, I’d say $3,500 – $6,000 including taxes annually for a set of audit proof books. That would include;
- One time setup fee, monthly (this would mean you actually have to submit ALL your paperwork on time)
- bookkeeping for 40 transactions or less per month
- Year-end, internal financial statements,
- T1 tax preparation for sole proprietors
- multi-currency transactions will likely cost more.