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Wicked
05-22-2006, 04:22 PM
Hi -
We're now going to begin our search for a small business accountant to add to the professional team (including attorney, insurance agent, etc). I have a few questions on what to expect/look out for I'm hoping any of you can help with.

1) Based on your experience(s)Roughly what price range should we expect to see for a small business accountant to help with the following: Do you pay monthly, per service etc?
- Assist with capital financing if needed
- Help secure loans if needed
- Set up record keeping systems
- Provide management consulting services
- Assess insurance needs
- Plan tax strategies
- Cash flow projections
- Compile financial statements
- Help submit tax, state and federal fees
etc etc

* For the record keeping, I would ask that the accountant help us set it up and then we keep track of it from there and submit all reports, information to the accountant when it comes time for say monthly or quarterly bookeeping.

If there's anything else you think we should inquire with when searching for an accountant, please let me know. Thanks in advance for any help/advice you can give.

pandandesign
01-21-2014, 12:00 AM
Well, it depends on what state and what kind of small business are you currently running. My dad has an accountant in which he's been working for my dad for about 5 years. My dad owns a restaurant, which the accountant does all the payroll, bookkeeping, filing annual tax, quarterly tax for the state department, property tax in the restaurant, and so on. Anything relates to paying the state or federal, I have to get the accountant to do the work. The accountant charges us about $120 per month, which he does everything for two of us. I think the only thing you have to make sure first is that the accountant can do commercial and business rather than personal because that's who you're hiring to do the tax. One thing though, make sure you talk to the accountant about what he can do for your business because there are a lot of bills and taxes you have to pay attention to.

delusional
01-21-2014, 03:44 AM
I would value this between $200 and $300 per month for a small business because you are asking things that normally aren't included in the price (like provide management consulting, this is something an accountant is normally able to do). Also the record keeping is kind of strange. He will just tell you what you need to bring in at the end of the month and you take care of where and how everything is kept.

novasparker
01-27-2014, 10:54 AM
I personally believe that there are too many variables at play here to accurately tell you what I think you should be paying. It's based on regional markets for those services, how large your business is and in what industry you operate in. How organized you are when you send your stuff over to the accountant even plays into how much you'll pay since a lot of these services are based on a per hour rate. Your best bet is to call around and check some prices. Don't always opt for the cheapest. Do some homework on those who make your short list to ensure that there haven't been any problems. Since they will be handling financial tasks, you don't want anything to come back and bite you in the butt, or have money missing.

Auror
01-28-2014, 04:43 PM
The monthly fee that you would pay an accountant is called a retainers fee. This fee varies depending from one accountant to another (qualifications and such). Aside from the monthly retainers fee, an accountant could also charge you on a per-transaction basis. For instance, cash flow projections could be charged separately from income tax return filings.

LindaKay
01-29-2014, 03:20 PM
Yeah, it's definitely going to depend on a lot of things, such as how complicated your bookkeeping is, how many employees you have, etc. etc. Where you live and the competition for accountants in your area matters as well. If you know people who use accountants, consider asking around to find out what the average cost is and to see who is the best. You can also call around and ask questions until you find the right one for you.

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12-23-2020, 07:49 AM
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myaccountinglab
12-23-2020, 10:05 AM
I am a professional Bookkeeper and I have set up a Bookkeeping business named AG Bookkeeping Services. We are charging base on the number of transactions per month. If we have more workload, we are charing high price. if few businesses just starting and they don't have many transactions per month. We are charging a minor fee until they will grow.

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alishbasaki
01-11-2021, 11:03 PM
#1: What sorts of records would it be advisable for me to keep?
#2: How would it be advisable for me to structure my business?
#3: How would it be advisable for me to get ready for charge season?
#4: What operational expense would I be able to deduct?
#5: When should I make good on assessed charges.
#6: Are the individuals who work for me representatives or self employed entities?
#7: What is my make back the initial investment point?