Why a Bookkeeper Undercharges and How to Work Out Your Real Price

Every bookkeeper hits the same wall sooner or later: what do I actually charge? In this episode, we look at why one bookkeeper quotes £80 a month while another quotes £280 for the exact same client. We pick apart a real post from our community of 38,000 members: a framing shop with three on payroll, around 90 transactions a month, VAT, MTD and £125,000 turnover. The quotes ranged from £80 to £280, and we explain why there's no scientific answer. In this episode: • Why everyone wants a "right price" and why there isn't one • Why a bookkeeper can't rely on hourly rates when one person covers every overhead • How to reverse engineer your fee, starting from the income you need • Why a minimum monthly fee protects your practice • Outcome pricing: tying your fee to the results you deliver This one is for any bookkeeper who has ever sent a quote and wondered if it was too low. If you're a bookkeeper who wants honest pricing conversations like this every week, join our free community, the Six Figure Bookkeepers Club, on Facebook https://www.facebook.com/groups/6figurebookkeeper ----------------------------------------------- About us We're Jo and Zoe and we help bookkeepers find clients, make more money and build profitable businesses they love. Find out about working with us in The Bookkeepers' Collective, at: 6figurebookkeeper.com/collective ----------------------------------------------- About our Sponsor This episode of The Bookkeepers' Podcast is sponsored by Xero. Get 90% off your first 6 months by visiting: https://xero5440.partnerlinks.io/6figurebookkeeper ----------------------------------------------- Promotion This video contains paid promotion. ----------------------------------------------- Disclaimer The information contained in The Bookkeepers' Podcast is provided for information purposes only. The contents of The Bookkeepers' Podcast is not intended to amount to advice and you should not rely on any of the contents of the Bookkeepers' Podcast. Professional advice should be obtained before taking or refraining from taking any action as a result of the contents of the Bookkeepers' Podcast. The 6 Figure Bookkeeper Ltd disclaims all liability and responsibility arising from any reliance placed on any of the contents of the Bookkeepers' Podcast. Chapters: 00:00:00 - Why Bookkeeper Pricing Feels So Difficult 00:02:43 - Start With What Your Business Needs to Earn 00:06:19 - Designing Your Service and Choosing Your Market 00:09:36 - How Brand and Customer Expectations Affect Pricing 00:12:31 - Why Hourly Rates Don’t Tell the Whole Story 00:14:22 - A Real Client Pricing Question 00:15:07 - Understand the Client Before Quoting 00:16:43 - From Fixed Fees to Outcome Pricing 00:19:02 - Set a Minimum Fee and Be Willing to Walk Away 00:19:25 - Build Confidence Without Underpricing Your Business #bookkeeper