You have two questions to answer ... what is the market rate and what is your time worth. They are not necessarily the same thing.Market rate will depend on education skill and experience. A CPA firm may charge a couple hundred an hour while the local bookkeeping service may only charge $20 per hour. Call a couple of local services and ask what they charge. It will cost you 30 minutes of your life.Lots of times in situations like you describe the person asking is really looking for something for nothing. They want you to do it for a very low rate because the don t have money to start with. As you go they add extra tasks but assume it is all inclusive. Be clear on the scope and fees and really take the time to understand what your time is worth.
I run a bookkeeping business. I have 4 years experience with a specialization in payroll, 2 year college course in accounting and business. I charge an hourly rate of $25/hour no problem. I m currently studying for the CPB designation and after that I ll more then likely up my hourly rate by $10-$15 and know I won t have a problem getting that amount.
You can charge between 20 and 100 per hour. Remember, it is really about your experience and what people believe you can help them with.
