Giersch Milwaukee Bookkeeping for Business
A Tradition of Excellence.

Wisconsin's best value in small business accounting

Back to Team

Milwaukee small business bookkeeping cost

Accounting fees, bookkeeping rates, consulting costs - it's all your money. We offer invaluable services for a reasonable price.

The cost of our accounting and bookkeeping services varies based on your needs. The industry standard is to pay 1-2% of revenue for internal accounting functions and related support.

Example: if your total annual revenue is $1M, you’re looking at $10,000 to $20,000 per year, or a monthly rate of $800 to $1600.

Where your price falls in that range depends on your priorities. Straight bookkeeping (our monthly reporting package) is more in the 1% range.

Your monthly rate would increase if you also needed payroll, bill pay, and sales tax. Other pricing factors include unusually complex books, or special requests. That could push you up into the 2% range.

There are exceptions. We have some clients who pay a half percent of revenue, and some who pay more than 3% of revenue, but most fall in the 1-2% range.

You can use the bookkeeping cost estimator on our homepage to get an idea how much money you’ll save by using our services, compared to the cost of hiring an in-house bookkeeper or accountant.

Professional bookkeeping with no surprise costs. Ever.

Billing will be based on a budget we agree upon together ahead of time. During your intake meeting, and again after setting up your financial systems, we'll discuss monthly and annual budget targets. You'll have plenty of chances to revisit the budget throughout the process.

Our professionals are passionate about helping small and family-owned businesses succeed. We work with small business owners all the time. They can afford our bookkeeping services and so can you. Contact us for a free, no-pressure consult so we can talk real numbers:

Get your pricing
 

On this page:

How much should a small business pay for accounting services?

How much a small business should pay for accounting services

We look beyond the average cost of bookkeeping services and create a package with the greatest value for YOUR business.

Many small business owners pay a part-time or freelance bookkeeper an hourly rate around $25. Freelance bookkeepers are often former accounting firm employees with limited experience and resources. For an hourly rate of $25 you are not getting the benefits of professional bookkeeping.

At the other end of the spectrum are large bookkeeping firms who charge hourly rate of $150-$200. Small business bookkeeping is an annoyance for big firms, and you won’t get the level of service you deserve.

Our customized bookkeeping price packages give the average small business owner enterprise-level service at a rate they can afford. We’ll work with you to establish an affordable monthly fee for services tailored to your business. Your invoice will reflect the hourly fees of the professionals assigned to work on your account.

You don't have to settle for freelancers or get fleeced by a big firm. Get a free consultation & personalized price quote today.

 

One-time fee for cleaning up your books

For new clients, step one is evaluating your current books and fixing the problems we find. The cost depends on the state of your books when we take them over. Most triage and repair fees fall in the $2,000 to $5000 range, which is spread out over the first 90 days. After cleaning up the books we move to our agreed-upon monthly fee.

How do your rates compare to paying an in-house bookkeeper?

The most important variables are whether you need full-time or part-time bookkeeping, and whether or not your bookkeeper is being hired as an office manager and administrator. Annual salary for full-time bookkeepers who perform other office duties can range from $35,000 to $60,000 (plus benefits).

Many entrepreneurs outsource their bookkeeping because of the technical nature of financial accounting. Hiring an individual bookkeeper or using a temporary placement service is common, but turnover can be detrimental to the integrity of financial statements.

Low cost, hourly bookkeepers often do not have the technical expertise to handle more sophisticated issues like sales tax filings and certain audit procedures.

 

We surveyed college professors and compiled the research to help our clients budget for bookkeeping services:

Starting with the concept of a business model, you should have an idea of what percentage of revenue you can spend on key areas and still make a profit. Our article What should my business model be? explains how to create a business model and determine what percentage of revenue should be spent on bookkeeping.

For corporate businesses, accounting costs are between 1-2%; many have an in-house accounting/bookkeeping team. Their total accounting costs can vary depending on the number of employees on the team, but each full-time salary can be about $55,000.1

According to accounting and finance professors at the University of Wisconsin-Milwaukee, small businesses can spend anywhere from 1-5% of revenue on bookkeeping, with some spending even more.

For small businesses, they are likely to spend a higher percentage of revenue on bookkeeping and financial consulting costs. Starting with 1-2% of revenue is a good first pass.

It’s also important to consider how much you’ll need to spend to clean up your books. Often people come to us after years of neglect.

For example, if a reasonable monthly payment for doing your books is $500, then cleaning up an entire year of neglect could be in the $5000 range.

It’s crucial to consider the time you save by outsourcing your bookkeeping. According to one survey, the majority of small business owners said they spend more than 41 hours on tax preparation each year.2

Say that you spend 20 hours preparing your annual tax return. If you value your (or your employee’s) time at $50 an hour, the total cost of preparing the return would be:

Cost of preparing tax return = $50 x 20 hours = $1,000 per year

Preparing tax returns is only one piece of the puzzle, and valuable time must be spent on other accounting tasks such as payroll, invoicing, bill pay, and reconciling bank accounts.

Additionally, it’s crucial to monitor your financial statements on a monthly basis, giving you a clear picture of where your business stands financially. Spending even 10 hours per month on these items would cost you $500 monthly using the same model above.

Outsourced bookkeeping rates are a worthy investment because it gives your small business a greater chance of success and prosperity. At The Giersch Group, we offer a variety of services in addition to preparing our monthly bookkeeping packages, including business model comparisons and financial statements.

 

Get your pricingBack to top

Keeping costs affordable with a better approach to bookkeeping

What your bookkeeping service fees pay for

Keeping financial records for a company is a complex process involving many steps. In larger companies, these steps are separated into different roles, and even at times different departments. The benefit of bookkeeping with The Giersch Group is that you get a team approach to your financial systems needs for a very reasonable price. The Giersch Group approaches each client with the following team:

Controller: Every client of the Giersch Group is assigned a controller. The controller acts as your own personal account manager. He or she will work with you to make sure that your financials are done correctly and that your monthly report focuses on the areas of greatest concern to you with clear, accurate and timely reporting. It is the job of the controller to oversee the Giersch Group bookkeepers and to solve more complex, strategic issues.

Bookkeepers: The Giersch Group works with local universities to employ finance and accounting majors to take care of client data entry. Our interns are put through a rigorous application process which includes a brief test with questions from the Certified Professional Bookkeeper exam. Our bookkeepers work under the supervision of our controllers.

The Giersch Group bookkeeping services provide full accrual accounting, accurate reporting and a clear picture of the financial health of your business so you can make better decisions. Schedule your free consultation to find out how our experienced professionals can benefit your business.

Back to top

 

What our clients are saying

 

cost effective bookkeeping service in Waukesha

Milwaukee Advertising Agency

"We turned to the Giersch Group following the resignation of our part time office manager of 10 years. The transition was seamless. The entire Giersch team was sensitive to our needs and helped us improve our systems to create more efficiency. We not only appreciate the fact that they have been sensitive to cost and pricing, but also how quickly they have integrated into our team.”

high value bookkeeping services in Milwaukee

Milwaukee Law Firm

"Our firm uses Giersch Group for both bookkeeping and consulting. They are a bit more expensive than using our part timer, but they are WAY cheaper than paying our accountant to FIX our part timer work. Highly, highly recommend."

affordable bookkeeping rates in Wauwatosa

Wauwatosa Elder Care Consultant

"In our 4 years working with Peter, our business has tripled... Although we weren't sure that we could afford this sort of assistance when our business was so small, we know now that the reality is that we can't afford not to work with The Giersch Group."

Read more of our client testimonials or contact us for a free consultation today.

Back to top

Giersch Group bookkeeping rates

Currently, our hourly fees for bookkeeping services are:

  • $50 per hour for Associates
  • $75 per hour for Senior Associates
  • $125 per hour for Client Controllers

Giersch Group business review cost

Giersch Group business reviews can range from $2,500 to $8,000 depending upon the size, complexity and purpose of the review.

Giersch Group business management consulting board services fee

The typical fee for board services is $1000 per month, plus mileage and expenses. This can vary based upon the complexity of the business and the necessary work between meetings.

Family-run business board services pricing

The cost of our next generation board services is $1000 per month, plus mileage and expenses. The monthly fee may vary based on the complexity of the business and work done between meetings.

Back to top

Wisconsin bookkeeping and consulting firm with affordable rates

Average cost of bookkeeping services

Is your freelance or in-house bookkeeper meeting your needs? Our bookkeeping service delivers consistent quality and enterprise-level financial reporting (and never takes a vacation).

The Giersch Group has offices in Milwaukee, Brookfield, and Madison, Wisconsin. We provide flexible professional services to small businesses and nonprofit organizations throughout the southeast Wisconsin including Waukesha, New Berlin, Oak Creek, Muskego, Mequon, Menomonee Falls, Port Washington, Monona, Sun Prairie, Waunakee, Middleton, Cottage Grove and the surrounding communities.

We believe in providing excellent accounting services at a reasonable price. The cost of our bookkeeping and consulting help ultimately depends on the depth and breadth of service. While bookkeeping and consulting are at the heart of our operating strategy, we also offer payroll processingtax complianceaccounting software training and virtual CFO services.

Every type of business and nonprofit deserves and benefits from professional accounting support. We'll work with you to establish an affordable rate for services tailored to meet your business needs.

Contact the Giersch Group online to get a free consultation and personalized quote for our services.

References:

  1. Payscale - https://www.payscale.com/research/US/Job=Corporate_Accountant/Salary
  2. Accounting Today - https://www.accountingtoday.com/opinion/the-burden-of-accounting-and-taxes-on-small-business
  3. CFO - http://ww2.cfo.com/operations/2015/05/metric-month-total-cost-finance-function/
  4. Accounting Today - https://www.accountingtoday.com/opinion/the-burden-of-accounting-and-taxes-on-small-business
Contact Us Contact Us to Receive Financial Advice Choose financial peace of mind today.