Bookkeepers are professionals that any business needs from day one of operation. Running your business without one on board is more like driving in the dark without your headlights on; it’s risky, chaotic, and probably illegal. Whether you’re operating as a solo owner or managing a growing team, keeping your books in order is key for maintaining healthy cash flow, compliance, and keeping ATO at bay.
If you’re yet to onboard a bookkeeper and are wondering “how much do bookkeepers charge,” you’re at the right spot. Here, we explore bookkeeper rates and answer some questions to help you understand the cost of bookkeeping in broader detail.
Average Bookkeeping Rates in Australia
Bookkeeping costs can vary more than Melbourne’s weather, and that’s saying something. You, as a business owner, get to choose from hourly to monthly packages or go for specialist services whenever you see fit. Here are the most common bookkeeping rates you can expect to get in Australia:
Hourly Rates
If you’re dipping your toe in and just need help here and there, many bookkeepers charge by the hour. In Australia, rates typically range from $40 to $80 per hour, depending on experience, location, and work complexity. Certified bookkeepers with advanced skills or BAS agent registration may charge on the higher end.
Monthly Packages
Many businesses prefer fixed-fee arrangements. Packages range from $300 to $3,000+ per month based on transaction volume, payroll size, and reporting needs. Some of the complex services covered under such arrangements include accounts payable, receivable management, financial reporting, and bank reconciliation.
The monthly package model best suits larger enterprises with many transactions, staff, and inventory. As such, you might need a more skilled bookkeeper, and consequently pay a little more.
Specialised Services
When you find yourself in need of a more specialised service, then the hourly or monthly rate model might not be suitable. In that case, you need a specialised service rate, often applicable to services like software migration, inventory management, or BAS lodgement.
These services might be priced separately or included in a premium package. Expect rates of $100–$250+ per hour for niche work or compliance-heavy tasks.
How Much Does Bookkeeping Cost in Different Locations of Australia?
Location, location, location. It matters in real estate, and it matters in bookkeeping. Prices can vary depending on where you’ve set up shop.
1. Melbourne
This is the start-up capital of Oz, with bookkeepers charging from $50 to $80 an hour on average. If your business is in Melbourne, you’re at an advantage because bookkeepers competition is stiff, and that means you get fair pricing.
2. Perth
On the laid-back West Coast, you’re more likely to get rates a bit easier on the wallet. Perth bookkeeper rates range from $45 to $70 per hour, especially for those outside the CBD.
3. Sydney
Sydney is a premium location, and its bookkeepers eat big, so expect premium prices. Bookkeepers here often charge from $60 to $90 per hour, especially if they’re registered BAS agents or are located within the CBD.
4. Brisbane
How much do bookkeepers charge in Brisbane? Well, it’s a bit more budget-friendly, so the rates generally range from $40 to $75. If you’re working with virtual bookkeepers, you get some pricing flexibility.
Factors Influencing Bookkeeping Costs in Australia
When it comes to bookkeeping fees, there’s no one-size-fits-all. The price you pay for bookkeeping services depends on several factors.
Business Size and Complexity
A tradie with a couple of invoices per week gets to pay less than a multi-site retailer juggling staff, stock, and sales. That means, more moving parts demands more time and expertise, and therefore higher cost.
Scope of Services
Are you after recording transactions, or do you want a bookkeeper to handle BAS, payroll, super, and ATO correspondence? The more comprehensive the service, the higher the price you’re set to pay.
Qualifications and Experience
An experienced bookkeeper who also has BAS agent credentials doesn’t charge cheaply. However, they’re worth their weight in spreadsheets. While some bookkeepers may charge less, you might be trading savings for expertise.
Location
As we’ve seen, city-based services tend to be pricier than regional ones. But virtual bookkeeping is closing that gap fast.
Billing Structure
A bookkeeper’s billing structure also matters. While hourly rates offer some flexibility, fixed monthly packages provide predictability. You won’t get nasty bill shocks at the end of the month.
Common Bookkeeping Services and Their Costs in Australia
So, when you request the services of a bookkeeper, what exactly are you paying for, and how much does it cost? Here is a breakdown of the common services most Aussie businesses use and their typical cost.
Data Entry and Bank Reconciliation
This is the bread and butter of bookkeepers. Most bookkeepers will charge an average rate of $35 to $60 per hour, but it can also be part of a monthly package. Ensure you’re not waiting for too long before inviting a bookkeeper for bank reconciliation as this is what helps keep your books tidy and accurate.
Payroll Processing
If it’s for a small team, you might have to part with $150 to $300 per month. More complex payrolls can carry $1,000 or more in bookkeepers’ fees per month. This normally includes payslips, super, STP reporting, and ATO submissions.
BAS Preparation and Lodgement
How much do bookkeepers charge for BAS preparation and lodgement? Registered BAS agents often charge between $150 to $400 per BAS lodgement, but this depends on the size of your business and its complexity. Some bookkeepers may even include this in your monthly retainer.
Financial Reporting
Want your Profit & Loss, Balance Sheet, and other reports ready on cue? This can be included in your package or cost $100–$500/month, depending on the frequency and depth of reporting.
Software Setup and Training
Just starting with Xero or MYOB? Expect $300–$1,000+ for setup, depending on the complexity of your systems and whether training is included.
In-House vs. Outsourced Bookkeeping Cost in Australia
Would you rather have a bookkeeper on your team as a staff member or do you prefer outsourcing on a need basis? Well, to most businesses, the answer to that mostly depends on cost. So, here’s a comparison between the two and how much you can expect to pay:
In-House Bookkeepers
Having a bookkeeper in-house might seem less costly, but in the long run, it turns out to be expensive. Factor in their salary, which ranges from $70k to $80k annually, 4 weeks of paid leave entitlements, 11.5% superannuation guarantee, and likely, training. You get face-to-face consistency, but at a steeper price.
Outsourced Services
If you opt for outsourced services, how much do bookkeepers charge? With outsourcing, you only pay for what you use or the value you see. It comes with better scalability, flexibility, and often includes access to BAS agents and software specialists. The monthly packages or ad hoc rates mean you’re not paying someone to twiddle their thumbs during slow seasons.
Conclusion
So, how much do bookkeepers charge in Australia? The answer is that there’s no standard rate; it all depends on factors like workload, business size, experience level, and your location. But on average, it’s $40 to $80 per hour. The rate you pay, whether as a sole trader in Perth or a bustling café owner in Sydney, there’s always a bookkeeping solution to meet your needs and budget.
Here at KB Accounts, we customize our bookkeeping services to match your business requirements. Get in touch with us today and let us help you put your books in order and pave the path for financial excellence.