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Accounting Tips for Auto Shops
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The Kaizen Team Mar 30, 2023 5:15:42 PM
When you own a small business, you’re hands-on – but your time is limited. Even if you wanted to control every aspect of your business, it’s just not a good idea to do so. Why? It wastes time and ultimately wastes money. That’s why you’ll hire a lawyer, your own marketing person, and for many business owners, that also means hiring an accountant.
So what does it cost to hire an accountant? Maybe you’ve already hired one and know what you’re paying, but are you getting good value? Are you getting everything you should for that price? We’ll break down our pricing structure so you can get a better idea of what our service might cost you. Here’s how we calculate it.
The average cost of monthly accounting services at Kaizen
Let’s say you’re our average small business client. The way we quote is pretty simple. It relies on two basic factors. We’ll go into these in more detail later, but here they are in their most simple form.
Our average accounting fee comes out to approximately $725 per month. However, depending on your activity and complexities, your fee can range from $300 to $800+ per month.
We have a fixed monthly fee. Built into this fee includes monthly profit and loss statements, monthly balance sheets, monthly bank reconciliation, business tax work, sales tax filings, audit representation, and consultations. It is set upon coming on board and is audited annually, as your accounting activity volume and other variables can change.
What factors influence monthly accounting rates?
Number of monthly business transactions
The first determiner of your pricing is pretty simple: the complexity of your business transactions. How often are they taking place, and where are they going? That’s why the largest factors in determining your monthly fee are the number of business transactions you make per month and the number of accounts you have.
On our end, you’ll get accurate financial statements and pristine books — two components vital to any business with plans of growth, success, and compliance with tax law.
Complexities in annual accounting services
Complexities are the other large factor in determining your monthly fee. These are factors we need to consider when getting your taxes ready. Especially as a business grows, it’s important to make sure that these details are locked down and organized so that you’re in the best position possible come tax season. Some common complexities to consider include business locations, sales tax, number of loans, and the number of bank accounts.
Multiple Business Locations
Sales Tax Management
Number of Bank Accounts, loans, and credit cards
Interested in a monthly accounting quote from KAIZEN?
We understand the weight of making a decision like this and take it seriously. That’s why we’re so transparent, so that you can make the best decision for you and your business. To give you a clear picture: our clients pay between $300 to $800+ per month, but our average client sits at $725. If you’re curious about how much you’d pay and whether or not we’d be a good fit, we’d be happy to talk it through with you.
Schedule a free consultation call.
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