If anyone can advise me, I'd be very grateful as I'm trying to get this sorted before my first client comes along!
I am a new Member in Practice up North and I'm wanting to charge a basic bookkeeping monthly fee based on transactions per month so basically up to x transactions its £Y. I should also, say I intend to charge a fixed fee per 'add-on' e.g. VAT, Printing invoices/POs, Self Assessment (eventually!), Final Statements (eventually!) as this means I can just add extras to the Add-On list as and when I pass exams and ICB approves me to undertake these new Service.
I'm aiming for £20 an hour initally. Is this a good equivalent hourly rate?
Is there anyone here who may be willing to discuss their prices with me? I am worried that if I undercharge, it will be difficult to suddenly increase the price to counteract the error at the end of the client engagement but I obviously don't want to out price myself.
I've read that you should use 2 mins as a rule of thumb per transaction - so I was going to denote a transaction as 1 invoice posting, 1 bank charge, 1 banking income etc so based on that logic, is 30 transactions an hour too low?
The Internet isn't much help unfortunately with this so any help would be really appreciated!
Thanks so much in advance for any help!
Edited at 18 Aug 2020 09:01 PM GMT