Accounting costs for startup

1,123 Views | 4 Replies | Last: 2 yr ago by OldArmyBrent
eye-gor
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AG
I am researching a new startup consumer services business and trying to determine a budgetary cost for outsourcing standard bookkeeping services.

My initial estimates are 15-20 transactions per month by year end with single digits during a 6 month ramp. $1500-2500 per transaction.

Can anyone ballpark these costs? What additional information would be needed to help calculate an estimate?

TIA
Corps_Ag12
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AG
Honestly with so few transactions you could probably do Quickbooks Online yourself. Link your bank account and credit card and then all you have to do is categorize transactions.
OldArmyBrent
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If you use a larger firm to do it, you'll probably pay $150-200/hour and smaller firms can get south of $150/hour. Including payroll for a handful of employees, you're probably looking at 4 hours/month even at the end of the year. A larger firm would also have their own license for QB online, so you wouldn't have to worry about paying for that.
Feeder Road
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I own a business helping primarily startups and take on this type of work at minimal or no cost. This is pretty low volume work and the benefit to us is that we establish a relationship and as you grow, we can earn our fees once you are through the initial phase getting a foundation established. The goal is for you to focus on building your core business ops and have some peace of mind that your back office is not going to fall apart along the way. I will PM you my contact info, reach out if interested in chatting.
OldArmyBrent
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I am a partner in a firm that does a similar thing on a larger scale (not startups). Based on what Project Gemini posted above, it sounds like his approach would be your best bet. Call him.
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