Bookkeeping services pricing: how to know if you’re paying too much

You mentioned your bookkeeping costs to another consulting founder last week. They pay $650 monthly. You pay $1,400. Same business model, similar revenue, both use QuickBooks Online. 

You started questioning whether you're getting ripped off or they're getting inadequate service.

What often gets missed in these comparisons is that bookkeeping costs are closely tied to how payroll, contractor payments, reimbursements, and approvals are handled as a firm grows. When those workflows are fragmented, costs rise even if headcount does not.

Here's the frustrating part: bookkeeping pricing has no standard rate card. Providers charge based on complexity, but "complexity" means different things to different firms. One provider calls three bank accounts complex. Another offers twelve accounts in its base package. Without a clear way to evaluate scope, founders often overpay simply because they don’t know what should reasonably be included.

Fair bookkeeping pricing for consulting firms typically ranges from $800 to $2,500 monthly, depending on transaction volume, complexity, and service level. Many founders still overpay because they focus on the sticker price rather than what that monthly fee actually covers in terms of review, reporting, and accountability.

Let me show you how to evaluate your pricing.

Five factors that legitimately drive bookkeeping costs higher

These complexity drivers justify higher monthly pricing because they genuinely increase the work required.

Monthly transaction volume matters most. Categorizing and reconciling 50 transactions takes much less time than processing 300. Most bookkeeping pricing models break down at around 100-150 transactions per month. Below that threshold, you should pay $800-$1,200. Between 150 and 300 transactions, expect $1,200- $ 1,800. Above 300 transactions monthly, $1,800-2,500 becomes reasonable. Anything beyond $2,500 should include controller review or advisory services, not just transaction processing.

Calculate your transaction count by looking at your bank and credit card statements. Every ACH payment, check, wire transfer, credit card charge, and deposit counts as a transaction. Consulting firms with regular contractor payments, client reimbursements, software subscriptions, and business travel typically run 150-250 transactions monthly.

The number of accounts requiring reconciliation scales linearly with costs. Each bank account, credit card, line of credit, PayPal account, or payment processor requires monthly reconciliation. Your bookkeeper matches every transaction to your accounting records, investigates discrepancies, and ensures nothing gets lost. This work takes 30-90 minutes per account, depending on transaction volume and statement complexity.

Fair pricing typically includes 2-4 accounts in base packages. Additional accounts should cost $50-150 each monthly. If you're paying $200+ per additional account, that's high unless the accounts have exceptional transaction volume or complexity.

Multi-entity or multi-state operations genuinely increase costs because they create separate accounting workstreams. Your LLC and S-Corp need individual books, reconciliations, financial statements, and often separate tax filings. Each entity essentially requires 70-90% of the work of your primary entity. Budget accordingly. If you operate in multiple states with different tax obligations, you add another layer of complexity and cost.

Service level dramatically affects pricing. Basic bookkeeping means transaction categorization and reconciliation, delivered by a bookkeeper with minimal oversight. Professional bookkeeping adds accounts receivable management, accounts payable workflows, and some financial analysis. Full-service includes controller review for accuracy, CFO-level advisory, and strategic guidance. These tiers typically break as $800-1,200, $1,200-1,800, and $1,800-2,500+ monthly, respectively.

Industry-specific requirements, such as trust accounting for legal consultants, detailed project profitability tracking, or compliance documentation for healthcare advisors, add legitimate complexity. These features require specialized knowledge, custom reporting, and additional review time. Expect to pay $200-600 per month in premium for industry-specific bookkeeping versus generic small-business services.

What consulting firms should expect to pay for different service levels?

These ranges reflect typical market pricing for competent providers serving professional service firms.

Basic bookkeeping at $600-1,000 per month includes transaction categorization, bank reconciliation (1-3 accounts), monthly financial statements (P&L and balance sheet), and QuickBooks Online maintenance. This works for consulting firms with revenue under $500K, simple operations, minimal contractors, and no project-tracking needs. You handle your own invoicing, bill payment, and financial analysis. The bookkeeper just records what happened.

Expect financial statements 7-10 business days after the month-end, email or portal-based communication, and minimal proactive guidance. You're buying clean books, not financial insights. If this meets your needs and you're paying under $1,000 monthly, your pricing is fair.

Professional bookkeeping at $1,000-1,800 monthly adds accounts receivable management (invoice creation, payment tracking, collection follow-up), accounts payable workflows (bill entry, approval routing, payment scheduling), multi-account reconciliation (5-8 accounts typically), and project or client-level tracking. This tier suits consulting firms with $500K-$2 million in revenue, multiple client projects, regular contractors, and moderate operational complexity.

You should receive financial statements within 5-7 business days after the month-end, project profitability reports, cash flow visibility, and monthly or quarterly review calls. The bookkeeper becomes a more active partner in your financial operations, not just a recorder. If you need these features and pay $1,000-$1,800, your pricing is reasonable.

Full-service finance at $1,800- 1,800-2,500+ monthly includes everything from professional bookkeeping and controller oversight (a senior accountant reviews the bookkeeper's work for accuracy) to CFO-level advisory (strategic financial guidance, scenario planning, growth modeling), cash flow forecasting, budget creation and variance analysis, and KPI dashboarding. This tier fits consulting firms with revenue above $1M and complex operations, multiple entities, or significant growth plans.

Expect financial statements within 3-5 business days, weekly or biweekly Slack/email communication, monthly financial review meetings, and proactive alerts about cash flow issues or opportunities. You're paying for economic leadership, not just bookkeeping. At $1,800-2,500, this represents solid value if you're actually receiving controller and CFO-level support.

Three warning signs you're overpaying for bookkeeping

These red flags indicate pricing that's high relative to value delivered.

Your cost per transaction exceeds $5 without premium services. Divide your monthly bookkeeping cost by your transaction count. If you're paying $1,500 monthly and processing 200 transactions, that's $7.50 per transaction. Unless you're receiving controller review, CFO advisory, or industry-specific services, that's expensive. Fair pricing for straightforward bookkeeping typically runs $3-5 per transaction. Anything above $6 per transaction should be accompanied by premium services or exceptional complexity.

Your provider nickels-and-dimes you with separate fees for everything. Every additional account costs extra. Every custom report costs extra. Every email question costs extra. User seats cost extra. While some add-on pricing is normal, excessive itemization suggests the base package is intentionally incomplete to keep advertised pricing low. Good providers build reasonable flexibility into their base pricing rather than charging $75 for every minor request.

Watch for providers who increase pricing 10-15% annually without expanding scope or improving service. Normal annual increases run 3-5% to cover wage inflation and cost increases. Anything beyond that should come with expanded services, faster close timelines, better reporting, or additional support. If your bookkeeping costs have increased by 30% over three years but service quality hasn't improved, you're subsidizing their margin expansion.

How to evaluate if your bookkeeping pricing is fair

Start by calculating your actual complexity score. Count your monthly transactions, identify your accounts requiring reconciliation, determine your service-level needs (basic, professional, or full-service), and list any industry-specific requirements. This gives you objective data to benchmark against pricing ranges.

Get detailed scope documentation from your current or prospective provider. What's included in your monthly fee? What costs extra? What are the transaction limits and overage fees? How many accounts are covered? What reports do you receive? When are financials delivered? This prevents surprise costs and allows apples-to-apples comparison between providers.

Calculate your cost per transaction and cost per account. These metrics reveal whether you're paying for genuine complexity or just expensive providers. If your math shows $8 per transaction and $250 per account, investigate why costs are high relative to market rates.

Ask providers to justify their pricing relative to your specific complexity. A good provider can explain precisely why your monthly cost reflects your transaction volume, account count, and service needs. Vague explanations like "your business is complex" without specifics suggest arbitrary pricing.

Compare at least three providers with detailed proposals. Market pricing varies, but if two competent providers quote $1,200-$1,400 and one quotes $2,400 for an identical scope, the high quote needs compelling justification beyond "we're worth it."

Fair bookkeeping pricing balances cost with value. Paying $1,800 monthly for excellent service, fast close timelines, and strategic guidance beats paying $900 for sloppy books and zero communication. But paying $2,200 for basic transaction categorization and slow responses means you're overpaying.

Know your complexity, understand market rates, and demand transparency. That's how you ensure your bookkeeping investment delivers genuine value.