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How Much Do Legal Bookkeepers Charge? Costs & Fees In 2021 (UK)
How Much Do Legal Bookkeepers Charge?
Looking for a Legal Bookkeeper but unsure how much you should be paying? Avoid getting stung with extortionate fees.
Keeping on top of your own company accounts can quickly become very difficult and stressful. In this scenario, you can only dream of handing it over to somebody else... Until you start to think about how much hiring a Bookkeeper will cost you.
The benefits of hiring a dedicated Legal Bookkeeper extend beyond taking away from your stress, a bookkeeper will ensure all your accounts are legally compliant and most of all, provide you with extra time - you can return to doing what you love the most!
How much does it cost to take away your stress & get your books in order?
There is no easy answer for how much you should be paying for a Legal Bookkeeper, and unfortunately we can't give you a specific figure, purely because Legal bookkeepers fees depend on specific circumstances that can vary from business to business.
The most common aspects the cost depends on include...
- Business size
- Financial services needed
- Complexity of the work at hand
- Timescale
Prices can also be influenced based on how qualified the Legal Bookkeeper is, you're likely to get a cheaper rate if they are training or newly qualified.
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How often do Legal Bookkeepers charge?
Generally speaking, Legal Bookkeepers work and charge on one of the following tariffs: hourly, daily or monthly. But determining which is the most cost-effective option will be dependent on your company needs.
To help you, consider the responsibilities of a Legal Bookkeeper and how they can support your company. If you believe this is something you need, how often will you require support from your Bookkeeper?
If you have been acting as your own company bookkeeper, you will have a clear understanding of how much time you spend on Bookkeeping tasks per month. With this basis, decide how best to work with a bookkeeper.
| Hourly | Daily | Monthly | |
|---|---|---|---|
| Advantages | Highly flexible - You are only expected to pay based on the amount of work required within that month. | Reflective of your company demands e.g. busy periods during the year. | On-hand throughout the month to support with tasks at a fixed rate. |
| Disadvantages | You may struggle with availability if you are not the only client your Legal Bookkeeper deals with. | You are reliant on the Legal Bookkeeper completing the tasks you require within a limited time frame. | Some months you may require less Legal Bookkeeping support - with monthly payments, you may lose out. |
TOP TIP: Always check the Bookkeeper has capacity to support your legal firm before making any agreements.
Do you need to pay London fees for a Legal Bookkeeper?
There's only one significant difference between getting a price estimate from a Legal Bookkeepers in London and a Midland's based Legal Bookkeepers... the price! London prices can be extremely off-putting, but can they be avoided? Could outsourcing elsewhere in the UK be cheaper for your legal firm?
SCENARIO: A London based Legal Firm is looking for a Legal Bookkeeper... Is it necessary to pay London fees or can the job be outsourced elsewhere for a cheaper price?
Do you value face-to-face meetings?
As a legal firm based in London, you're not going to be far away from a Legal Bookkeeper who can offer you support.
If a priority for you is the ability to meet with your Legal Bookkeeper for regular face-to-face meetings, you'll benefit from working with a Legal Bookkeeper near you.
Unfortunately, you will have to compromise on the London prices that come alongside this.
Do you want receive the same level of service for a lower price?
If you are happy to attend regular vitual meetings with your Legal Bookkeeper, then the answer is no.
When outsourcing to a Legal Bookkeeper based outside of London you will recieve the same high-quality service for a much cheaper price.
You also open up the doors to a whole new world of fantastic Legal Bookkeepers all over England.
How experienced should a Legal Bookkeeper be?
