When you take on new bookkeeping/accounting clients, how do you set you price and what process do you have for new clients?

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As for pricing, I start with their sales, what is 1% and then I go up or down a little based on that. I wouldn’t go less than $300 a mo per client for monthly categorizing, reconciling, and reporting.

If they want you to do A/R and A/P I would charge more (paying bills, sending invoices) I add $200 at least a mo to do those.

I sometimes take the hourly approach to calculate, but always price a monthly. $45 an hour @ how many hours will it take me. (5) usually.
I do quote hourly for clean up work at $45 an hour. My prices though might be low for other areas. I’m in the Midwest and we tend to be a little cheaper than on the coasts.

As for process, I use business One Drive to store my clients information (not personal one drive because that isn’t secure). I would want my own read only logins to the bank so you can get statements and see check images if your not paying bills do read only. I start clients that they can send me statements and then migrate them to a login sometimes when I don’t know them and I am building trust.

I do a video for my review and share that with my clients each month. it’s a video of their P&L and Balance Sheet. I don’t think they want to redistribute their own financials, I don’t have anything in place for them not to pass it along.

I record it with Zoom and save it to their portal along with their monthly reports. I basically read them their financials. Sales are up over last month, advertising is a little higher than in the past, but sales aren’t reflecting yet. I go over action items they can do in their business that will reflect in their numbers. I go over balance sheet numbers, ask questions if I have any.

I send this prior to our monthly appt so they have time to look anything I need up before our call. It allows them to learn and digest the reports prior to our call. My videos are usually about 5 min long.

Casey L Williams is an accountant and a financial coach.