Self Employed Bookkeeper Rates

Looking to take someone on as a subcontractor

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Hi, 

I'm new in practise and have recently taken on a client who is requiring some bookkeeping work- around 8 hours a week. It's not going to be the most straightforward job. I'm looking to use a bookkeeper to do the majority of the work on a self employed basis. Could anyone give me an idea of the rate of pay for the bookkeeper and an idea of charge out rate to the client. The person I have in mind is QBE.

I'm based in the Midlands.

Many thanks

Replies (14)

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the sea otter
By memyself-eye
18th Apr 2024 09:53

My wife charges £50/hour plus mileage - also in the midlands.

ps: 'practice' is spelt with a 'C' not an 'S' - unless your Amerikan......

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Replying to memyself-eye:
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By Walks with numbers
18th Apr 2024 10:05

I'm ashamed I did that! I'm usually the first to pick up on that. :-(

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Replying to memyself-eye:
paddle steamer
By DJKL
18th Apr 2024 14:35

Your?
Surely you're

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Replying to DJKL:
the sea otter
By memyself-eye
20th Apr 2024 11:55

You spotted the other deliberate error !

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Replying to memyself-eye:
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By I'msorryIhaven'taclue
20th Apr 2024 12:28

memyself-eye wrote:

ps: 'practice' is spelt with a 'C' not an 'S' - unless your Amerikan......

Americans don't spell practice with an "S"... they use "practice" with a "C" for both noun and verb. Just saying.

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Replying to I'msorryIhaven'taclue:
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By Justin Bryant
21st Apr 2024 10:50

I can practise my new thoity-thoity word to describe that comment (sorry, that great new word to describe thick, condescending people was meant for memyself-eye's comment above). Maybe in a misspelling context "potatoe-head" is a better word (after the famous Dan Quayle incident).

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By Jules2019
18th Apr 2024 10:36

I work self employed for £35.00/hour (based in South Wales for clarity)

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By Matrix
18th Apr 2024 14:25

I expect the rate will be whatever the bookkeeper charges. Our clients contract directly with the bookkeeper so we don’t have a sub-contract rate. They seem to accept that they have two relationships and it saves reviewing the work, taking on extra risks etc.

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By I'msorryIhaven'taclue
20th Apr 2024 13:24

Re: charge out rate to the client, we've had a lot of pushback recently from bookkeeping clients who have learnt how to do the categorizing themselves at 90mph and then question the 8 hours we charge to do it all properly.

It's not the rate they're challenging - they pay differing rates, starting at £35 +vat an hour - it's the time the job takes they don't like. Once they're aware that pushing a bank feed button will send hundreds of bank entries fluttering to their "trained" accounts they see no reason why anything should take longer than an hour or two. Using AI that way is like painting a wall by throwing the paint pot at it - I came across a £10k VAT payment to HMRC the other day that had posted itsel to "materials" and claimed input VAT on itself - but the clients who believe in magic tricks are disbelieving the hours charged.

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Replying to I'msorryIhaven'taclue:
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By Walks with numbers
20th Apr 2024 20:12

I couldn't agree more. And reviewing and correcting the automated transaction can take longer than just manually entering it!

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Replying to I'msorryIhaven'taclue:
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By Ammie
23rd Apr 2024 09:49

Agreed.

I am totally frustrated and irritated by the "slap dash" use of automation to zip data across to inaccurate locations, yes it works in most cases in a disciplined execution but too often the benefits are outweighed by the messing about reviewing and correcting the errors, many of which don't always get picked up until the accounts stage and then its the accountants domain and the bookkeeper shrugs their shoulders with a laissez-faire attitude.

For smaller less disciplined clients taking a little longer to get the prime entries accurate and reliable is more economical in the long run.

I am progressive but at the same time hold on to some older habits where they are clearly more reliable and probably save time in the long run.

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Replying to I'msorryIhaven'taclue:
Morph
By kevinringer
03rd May 2024 12:12

What, surely you're wrong because reliable software is the bedrock on which MTD ITSA is built and HMRC have wasted (I mean 'invested') £1.3 billion in.

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By Guilford Accounting
23rd Apr 2024 11:45

Charging by the hour really is a very old fashioned way of charging for a professional service; we (and our clients) prefer a fixed rate for the job billed monthly. Clients pay for an outcome not time.

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Replying to Guilford Accounting:
paddle steamer
By DJKL
23rd Apr 2024 12:08

So charge per transaction posted, that is an outcome re each transaction and each transaction does has a cost. The only thing I never got my head around is should each debit and each credit have a cost or should it be one cost for the pair?

Certainly when I wrote up books on excel for one client it was pretty simple to count the rows, so 350 bank receipts @ £x, 450 sales invoices @£y, 150 bank paid at £z, add extra for calculating the debtors , accruals, prepaid, wages etc and their posting (generally these were on time basis but could have been a fixed cost) and there you have a detailed bill for the client reflecting what was done (I did this for a couple of years for one job where there was growth in transaction volumes/more client bank accounts opened and operating and it seemed easiest way to reflect this increased work within my fee).

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