Hourly rate for bookkeeping

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Forum -> Working Women

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amother

Slategray

Thu, Dec 06 2018, 3:47 pm

I have been working for a large investment bank for over 10 years. I recently found out that I am getting laid off- woohoo! the hours have been brutal!!!
A good friend of ours runs his own non-profit and asked if I would be interested in helping with his bookkeeping. He knows I don't have hands-on bookkeeping experience (I did financial reporting which is different.. but I do have an accounting degree). BH he is willing to train me if I stay for the long haul. It is very part time (a few hours a week) he asked how much I would charge?
I'm very excited for the experience! And I would love to be able to keep this long term even if I find another job (I can handle the few extra hours a week) so this is the thing, I want the salary to be worthwhile for the long term but given that I don't have bookkeeping experience- I don't want to overcharge- anyone in the field has any recommendations as to what I should charge?

amother

Magenta

Thu, Dec 06 2018, 3:54 pm

amother wrote:

You have an accounting degree but need someone to teach you bookkeeping? I'm scratching my head on that one. The very first 2 accounting courses almost entirely comprise bookkeeping. Even without "hands-on" experience you have the training and coursework under your belt. I say you should be paid like an accountant in your area. See this guide and adjust it for your location, industry, and years of experience.

https://www.roberthalf.com/sal.....nance

amother

Slategray

Thu, Dec 06 2018, 4:03 pm

amother wrote:

True, I know the concepts, and I'm not too concerned with learning the process. I just happen to not have personal experience with QuickBooks, etc.

amother

Magenta

Thu, Dec 06 2018, 4:05 pm

amother wrote:

True, I know the concepts, and I'm not too concerned with learning the process. I just happen to not have personal experience with QuickBooks, etc.

I think the Robert Half salary guide provides bookkeeping rates too.

wow

Thu, Dec 06 2018, 4:15 pm

Why don't you use your existing salary as a starting point? If you were paid a weekly rate divide that by the number of hours you worked.
Perhaps add a bit per hour if you feel you are worth more now.

amother

Chartreuse

Thu, Dec 06 2018, 5:15 pm

I'm an experienced bookkeeper.

I am paid $22 an hour but I work entirely from home and whenever I want.

If I had to go into an office I think the salary would be a bit higher. Maybe $25.

amother

Mint

Thu, Dec 06 2018, 5:17 pm

amother wrote:

True, I know the concepts, and I'm not too concerned with learning the process. I just happen to not have personal experience with QuickBooks, etc.

I’m going for an accounting degree and took the 2 courses and in midst of continuing, and I agree that you still need to know quickbooks. Accounting professors teach you on pen and paper (the original way) and you have to learn how to use QB. That’s what I’m doing at the time. Learning quick books while working 2x a month for a family member of mine ($25 per hour)

Sebastian

Thu, Dec 06 2018, 5:33 pm

25 an hour

amother

Red

Thu, Dec 06 2018, 5:41 pm

I was told I can charge 40 for freelance bookkeeping. 5 years accounting experience and I know quick books well. Lakewood.

amother

Chartreuse

Thu, Dec 06 2018, 5:45 pm

amother wrote:

I was told I can charge 40 for freelance bookkeeping. 5 years accounting experience and I know quick books well. Lakewood.

Maybe a company can but an employee is normally paid less.

amother

Fuchsia

Thu, Dec 06 2018, 6:07 pm

Experience in bookkeeping makes a big difference whether you have an accounting degree or not.
If you have Quickbooks experience and an accounting degree $40 an hour.
I earned $30 an hour doing bookkeeping without an accounting degree
My DH has many years experience in accounting and bookkeeping but no degree and was earning about $75K a year , and was considered underpaid where he worked.
Bookkeeping involves many different types of work. It all depends on the type of company. Both my DH and I are bookkeepers , but I have no clue how to do the work he does and he doesn't do the type of work that I do.

amother

Oak

Thu, Dec 06 2018, 6:11 pm

I'm surprised many are posting in the 20/25 range.
I do not have any kind of degree and I am self taught on the job. I am working at this place for a number of years. I started out with no experience at 400.00 per week. I now work only part time at 45.00 per hour. If I'd ever consider switching I'd never take a job for less than that amount.
It might depend where you are located. I am in NYC.

amother

Green

Thu, Dec 06 2018, 6:40 pm

How much do you think a full charged bookkeeper with many years experience can make in Lakewood?

amother

Chartreuse

Thu, Dec 06 2018, 9:05 pm

I am thinking that some of you are referring to controllers vs bookkeepers.

Never heard of a bookkeeper earning 75k.

Are you talking bank recs and accounts payable or financial reporting, budgeting, etc? There is a huge difference in the level of work here.

Someone doing bank recs in quick books cannot expect $45 an hour.

amother

Maroon

Thu, Dec 06 2018, 9:45 pm

amother wrote:

Having worked in audit I've seen the gamut from CPAs earning $40k for full time to a CFO with no degree who started as a secretary and is now earning $150k.
For this job I would expect something in the $40/hour range. If this was full time I'd say less but consulting usually pays more.

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