I am recently starting out and want to ensure I have set my fees at the correct level. I am based in Hampshire and offer general book keeping (data entry only), book keeping including VAT returns, monthly payroll (say 1-10 empoyees), monthly managment accounts and cash forecasting?
Could anyone suggest suitable hourly rates for the above?
I would say bewteen £13-£15 per hour, or more if you think you can get away with it, I think it depends on where you live to be honest. I sure other people will be on here with different prices etc.
Some on here like to charge a monthly rate depending on the client.
Payroll is normally charged out differently, but I sure someone on here can advise on that.
Are there any bookkeepers in your area that you know what they are charging to give you an idea?
The question you pose Rella presupposes that there is a standard hour of work. I would be surprised if this is the case - more likely it will vary considerably. Payroll can be a bit messy, queries arise with invoices, there are Vat issues, CIS summaries to complete and a host of other imponderables.
So I think it best to look at it from the point of view of the whole bookkeeing package. In other words what, in view of the overall task, is the appropriate fee. Its very difficult when you get a new client to assess time, especially when you're just starting out. Why not work on the basis that your client has an idea of how much they want to pay. So ask him/her - how much did they have in mind (or how many hours).
If necessary do it, on a trial basis, within the timescale that suits you. Many clients are willing to be flexible in the light of factual evidence
I think it depends a lot on the location. For Central London clients you can charge more but for a lot of areas I'd say £14-20/hr would be a general guide. It depends how quick you are as well and remember to factor in journey times/costs to make sure it's worth your while.
