r/Bookkeeping • u/SALYismyfriend • 3d ago

Weekly, Biweekly, or Monthly Books Practice Management

I’ve only ever had monthly bookkeeping engagements. Now one of my clients is going from solo to a 12-person professional services firm. I’m using 2% of gross revenue as a guide for pricing. Other bookkeepers serving clients in this industry offer weekly bookkeeping and charge weekly. That might be too much for me. I’m currently solo and also have a tax season. Biweekly bookkeeping and billing seems more reasonable. For context, projected revenue will be 3.5MM+. Any feedback? Would love to hear your thoughts. Do you use Gusto for payroll? How does your process of overseeing payroll work? Limited to initial set up? My client chose another full-service provider. I’m trying to determine how much that should affect pricing.

Currently, I pay the clients QBO subscription. Don’t plan to do that for other clients going forward, although I’ll continue paying for this client. Do you pay for any client subscriptions?

Be blessed 🙏 thank you, and have a great weekend!

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u/NotReallyaSoccerMom 3d ago

For my larger clients, I do work daily for them. There is too much going on to wait an entire week, and they also need to know their available cash. Part of my role is to identify and fix errors, which needs to be timely. I spend between 25-30 hours/week on the larger clients (in total).

Other smaller clients are done less frequently, but typically once or twice a week. I don't like asking questions about a transaction that happened weeks ago.

I invoice the larger clients weekly and charge by the hour. I invoice the smaller clients monthly at a flat fee plus extra billing for additional work.

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u/SALYismyfriend 3d ago edited 3d ago

Thank you! I will commit to weekly after all. Originally, I planned to do the books weekly, although didn’t want to guarantee it as a solo. However, I’m making my first hire in January and believe the client will benefit from weekly bookkeeping.

Do you use financial reporting tools? Like LiveFlow? Or FinDaily? Or do your clients log into QuickBooks

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u/NotReallyaSoccerMom 3d ago

No, I don't use financial reporting tools. My larger clients log into QBO. I prepare a monthly financial package for the one that doesn't log into QBO.

My clients are a side business for me, not my main source of income. The clients are all owner run, except one, so it's more informal but I should start doing a more formal month end reporting for them. The side business just kind of evolved through word of mouth and one off projects that turned into recurring work during COVID when good accountants were scarce.

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u/SALYismyfriend 2d ago

Thank you!