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Our Small Business Bookkeeping Packages  

Our Prices (and that of our competitors are listed below). You will also find our internal rates and how we bill as we believe in transparency (and no hidden fees are allowed)

 

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Watch this video to find out more about our Small Business Bookkeeping Services and how they can be customised. You will also see quite a bit about our bookkeeping packages.

Monthly bookkeeping package 1: $75 month

This includes:

4 x Business Activity Statements

Some minor coding & reconciliations.

You have to pay for your own Xero etc membership

Monthly bookkeeping package 1b : $150/ month

This includes:

  • All conditions from Package 1 (Above) E.g. BAS etc

  • This accommodates for slightly more transactions. i.e. about 0.5 hour of bookkeeping per week.

Monthly bookkeeping package 1c : $250/ month

This includes:

  • All conditions from Package 1 (Above) e.g. BAS etc

  • This accommodates for more transactions. i.e. about 2 hour of bookkeeping per week.

  • This also includes a small budget for ad hoc questions

Now for the slightly larger bookkeeping packages!

Monthly bookkeeping package 2 : $380/ month

  • 4 x Business Activity Statements

  • Some minor coding & reconciliations.

  • You have to pay for your own Xero etc membership. This is for very low or no monthly transactions

  • This accommodates for more transactions. i.e. up to 100 transactions.

  • This also includes a small budget for ad hoc questions

  • If you have 1-3 employees, you many need to add some budget in this to cover payroll and other compliance requirements

 As you can probably guess..

The number of transactions is the clincher when it comes to price. There is also another consideration i.e. payroll. If you have a complex workforce, with rather convoluted set ups and pay-runs, we may need to bring someone who is a bit more experienced i.e. a higher rate. Like we said, we would rather you know these things in advance.

 

Most of our competition would simply add that on, once you have already selected a package. We don’t. 

Accounting software or spreadsheets?

No matter what you are using to keep financial records, (Xero, Quickbooks, MYOB, SAP, Reckon etc) we have someone experienced in that one, that can help real quick & make your problems vaporise. To tell you more about us, allow us to confess something. When we first started, we only worked with people that used a certain software. Then we progressed to those that only used software. Any software, really. But, every time we would turn someone away who was paper based, we could see it was embarrassing. So, now we have people that also actually specialise in “paper-based”.

If you suspect you are getting overcharged:

Reasons To Switch Bookkeepers?

How To Compare Packages?

You really need a rate and a calculator to do that. And you also need to be good with numbers. However, if you still want to do it, read this grey section out. We have mapped out how to do so

 

Once you have their rates?

Some providers include the cost of software in their rate somehow. That could make it difficult too. Also, there are different levels in the same software

If they include the cost of software in their rate?

For instance they could use Xero. If they only use the ledger, then they are paying less. So if two providers include Xero, ensure you know what level they are providing you.

How about the accountant? 

Most of the grunt work should not be done by an expensive accountant. An experienced bookkeeper would cost less to do the same work & you are not getting extra value.

Is a flat rate better?

If you are a smaller business, yes. But if you are a larger business, you are best placed with our sister company. Our flat rate works best for smaller businesses i.e. the reason why we have one in the first place.

Build your own package?

If the provider does not allow you to do that, you may be missing out. For example if their package 1 has 20 transactions and package 2 has 100, what if you only have 30?

“In very little time, Darren was able to provide me with advice tailored to my business.”

Adrian Willenberg

“Our first ROI was about 300% & we are working on improving that. Very excited about where everything is headed. Making money.”

Michael Stibbard

“His advice is fresh and rather unusual and I continue to incorporate it in my day to day life and business.

I have not seen anything like his material before and I will keenly follow his ongoing guidance.”

Paul Graham

Contact Us

Want to get your bookkeeping done real fast? There is also more information on our home page.

info@smresearch.com.au

1-800-672-670

5 Melva Court, Sydenham VIC 3037

M-F: 9:30am-5.30pm, S-S: Closed

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TAX AGENT: SM RESEARCH PTY LTD, REGISTRATION NUMBER : 26067757

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Our Bookkeeping rate break up:

Before you delve into our bookkeeping pricing (and make things too confusing), there are a few things here that may get things simplified real quick and avoid doing any unnecessary math:

  • Our bookkeeping rate is $50-$60 per hour (junior and senior bookkeeper rates)

  • Our tax agent rate ( e.g. for filing your income tax) is $160 per hour

  • We surveyed the pricing of 20 + practices and found that half the practices charged $89/hour for bookkeeping and $250 per hour for tax. About 30 percent charged like us. And the rest (a minority) charged less.

  • Those that charged more than us, use senior staff or were simply more expensive because of their branding or a sense of self-entitlement. We felt this was unnecessary, unfair and overkill.

*The research we did is how we came about our own pricing model.

Build Your Own Bookkeeping Packages

 

 

 

Build Your Own Bookkeeping Package (BYO):

If you want a more custom package you can build your own, roughly here:

  • It is usually between $3-$5 per transaction for most things (e.g. unless you have an invoice that has 30 lines!)

  • If we are doing the work, we will probably charge $150 for a BAS (if we have to tidy things up first and the work was done by someone else, then it could be different). For example, we have business owners that attemp to do their own BAS, which don’t reconcile prior to us lodging the end of year returns. This results in us spending hours reconciling the accounts, then revising the BAS, before even touching the income tax return.

  • As an example, if you have 25 transactions per month, it could be $125/month for the transactions, plus an extra $50/month for the 4 x BAS i.e. a total of $175/month. Again as an estimate.

  • Our rate is usually between $50-$60 per hour for bookkeeping & $160 per hour for tax work, as you can tell. However, if you have a backlog, we may need to clear that first, before getting you on  a package. For instance, if you have not lodged BAS for 5-6 years (I have personally seen people not do it for more than that), we would clear the backlog first before looking at bookkeeping packages of any sort.
  • Also, if after all this, you decide you would rather “pay as you go”, we still use the same rates.
  • Or you decide this is doing your head in? Try this calculator to help you calculate your way through it all.

  • If the math above is a bit overwhelming, or you are unsure how many transactions you may have, just contact us at www.mytaxguy.com.au

 

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