Hi 😊 Sorry if this is in the wrong section, and sorry for the long post!
I'm just wanting to ask on average what it costs to hire a bookkeeper? Also what sort of admin help is there for a sole trader?
Here's a rundown; at the moment I am a stay at home mum and do all the admin/bookkeeping work for my df's business. He is a tradie and works for himself with one other contractor. I hate the bookkeeping part, it takes me ages, I don't really know what I'm doing so probably making mistakes and it is something I never imagined myself doing. Because of that I procrastinate and put off what I need to do until last minute then stress to get it all done on time.
I am thinking of starting my own small business, I have a qualification that I got before I had kids and was planning to start my business after ds1 was born but it was put on hold as I got pregnant with ds2. Then as df's business grew and he became busier, I took on more to help and put my business on hold further. Now I'm thinking I'm losing myself and am just a mum and assistant so want to make a change. I would only be working a few hours, 2 times per week so want to work out what a bookkeeper would cost for mine and df's business' to see if what I earn would cover it. I'm happy to break even if it means I'm doing what I love and eventually can earn more over time once the kids are in full time school and I can grow my business.
Sort for the long post, any advice you can give would be great!
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05-11-2014 13:24 #1
Admin assistant/bookkeeping question
05-11-2014 15:42 #2
05-11-2014 15:50 #3
Firstly - What are you asking the bookkeeper to do? Is it just data entry, or actual bookkeeping? ie is it entering invoices and receipts and bank rec, or is the client billing, BAS? Certain functions (ie BAS) need qualifications and registration with the ATO in order to be able to lodge on your behalf. Do you have an accountant who assists - and how much do you pay him/her? The more that a bookkeeper can do obviously cuts down on accountant costs however if you have a relatively cheap accountant then perhaps a more data entry type person would suffice?
Do you have a MYOB type system already in place, is there wages, super etc to pay, are you already with a super clearing house etc, or are you expecting the bookkeeper to set up these systems for you?
From experience I would advertise for a bookkeeper with some admin tasks, not an admin person who could also do bookkeeping. Offering flexible hours (school hours, weekends) can be attractive. If you're not really sure yourself about how it all works then training someone for bookkeeping could be problematic.
You need to start writing your procedures now, even if it's simple dot points of everything that you do so that from day 1 the new person has an idea of what they are to do. Also consider security - if the person is paying bills on your behalf then what sort of access do they have to your personal information, whether banking or on your computer? Would it be in your house, or something that could be done remotely? A good scanner so that you could send paperwork might be a way to go.
I'd say the short answer to your question would be between $25 and $60 per hour (they would invoice you and after their own tax and super). For the upper end of this range I would consider someone qualified, experienced and who can setup and document systems with absolute minimum supervision.
I'm happy to guide you if you need it, just PM me.
Good luck, Hulahoop.
05-11-2014 15:51 #4Senior Member
- Join Date
- May 2012
It was several years ago now but I think my work paid about $35-40 per hour for a bookkeeper.
I have thought about starting to do bookkeeping from home for small businesses and was thinking of charging $30-35 an hour. I don't have any formal qualifications, just on the job experience but that's about what I'm paid now if I was self employed rather than an employee.
Hope that helps.
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