How to Price Monthly Bookkeeping Services
Most bookkeepers underprice because they price on transactions alone. How to set monthly fees that reflect accounts, complexity and the real cost of chasing clients.
Quick answer: Most bookkeeping firms charge a fixed monthly fee based on the number of accounts to reconcile, transaction volume, payroll, payment processors, inventory, and the reports delivered, with catch-up or cleanup quoted separately. The hidden cost to price in is client behavior: the time spent chasing statements, receipts and answers each month.
Key takeaways
- Fixed monthly fees are standard and easiest for clients to budget.
- Accounts to reconcile often drive time more than transaction count.
- Price catch-up separately, before monthly work starts.
- Build in a late-document policy so slow clients don't erode your margin.
- Review each client's real time annually.
What drives bookkeeping time
| Driver | Why it matters |
|---|---|
| Number of bank, card and loan accounts | Each needs a statement and a reconciliation |
| Transaction volume | Categorization and review time |
| Payment processors and marketplaces | Payout reconciliation. See processor payouts. |
| Payroll | Monthly entries and quarterly reconciliation |
| Inventory, classes or locations | Extra tracking and reporting |
| Accounts payable and receivable | Bill entry, invoicing, aging review |
| Reports and meetings | Time beyond the close |
| Client responsiveness | Follow-up time every single month |
Build tiers
- Essentials: up to a set number of accounts and transactions, monthly reconciliation and standard reports
- Growth: more accounts, payroll, processor reconciliation, AP or AR
- Advanced: inventory, multiple entities or locations, management reporting
Define limits clearly in the engagement letter so moving up a tier is a conversation, not a surprise.
Price catch-up separately
Quote by month caught up, adjusted for accounts and volume. See catch-up bookkeeping.
Late documents
A close that waits ten days for one card statement costs real time in follow-up and context switching. Common policies:
- Reports delivered a fixed number of days after the last document arrives
- A fee for months closed late because of missing documents
- A higher tier for clients who need heavy follow-up
Review annually
Compare each client's fee with the hours actually spent, including follow-up. See 12 KPIs for small accounting firms. Then raise fees or reduce the time. Correctdocs is built to reduce follow-up time by requesting each document, checking it on arrival and sending reminders automatically.
Correctdocs is in early access. The first 10 US accounting, bookkeeping and tax firms get a free 30-day pilot on real client requests. Request early access.
Frequently asked questions
Should bookkeepers charge hourly or monthly?
Most charge a fixed monthly fee based on scope, which is easier for clients and rewards efficiency.
How do I price bookkeeping for a client who's behind?
Quote catch-up as a separate project, then start the regular monthly fee once the books are current.