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Virtual Marketing Force, post: 80465 wrote:
Hello,

I am interested to know what other businesses think is a reasonable price for an accountant to do your tax and the business statements once a year? I have two small businesses (service not products) so they only have a limited number of transactions/sales per month. I do all the BAS and I sent a spreadsheet to the accountant at the end of the financial year with the details of all of my cash payments and receipts.

Also this may sound silly, but could someone please explain what the difference is between an accountant and a bookkeeper?

Thank you!

Lorraine

Lorraine,

Bookkeeper will do all data entry during the year for the 1/3 of the fee an accountant would charge you when you come up at the end of the year. Plus, an accountant will charge you the cost of preparing your tax return.

What is the right fee? It is an amount you would feel comfortable to pay for the advice your accountant gave to you to help you run your business better next year and may reflect the amount of tax he/she would probably save to you.