How Do I Price My Accounting Business Services?
- Nate Jones, CPCU, ARM, CLCS, AU
- 1 day ago
- 3 min read
Updated: 4 hours ago
Setting the right price for your accounting services is one of the most important decisions you'll make as a business owner. Whether you're a solo CPA, a bookkeeping professional, or running a full-service accounting firm, your pricing strategy affects your profitability, client retention, and overall growth.
At Wexford Insurance, we help small business owners—including accounting professionals—protect their firms with tailored insurance programs. But we also understand the challenges of building a sustainable business, and pricing is a key part of that journey.
Why Pricing Matters in Accounting
Your pricing communicates value, sets expectations, and determines how competitive you are in the market. Underpricing can lead to burnout and low margins, while overpricing may drive potential clients away. The goal is to find a balance that reflects your expertise, covers your costs, and appeals to your target market.
Common Pricing Models for Accounting Services
1. Hourly Billing
This traditional model charges clients based on time spent. Rates vary depending on experience, location, and service type.
Bookkeeping: $30–$80/hour
Tax preparation: $100–$300/hour
Consulting: $150–$400/hour
2. Flat-Rate Pricing
Flat fees are ideal for recurring services like monthly bookkeeping or payroll. Clients appreciate the predictability, and you benefit from streamlined billing.
Monthly bookkeeping: $200–$600/month
Payroll services: $100–$300/month
Tax returns: $250–$1,000+
3. Value-Based Pricing
This model charges based on the value delivered rather than time spent. It’s ideal for high-impact services like financial strategy or tax planning.
Example: Charging $2,000 for a tax strategy that saves a client $20,000
Factors That Influence Your Pricing
Experience and credentials (e.g., CPA vs. bookkeeper)
Service complexity
Client industry and size
Geographic location
Technology and automation used
Overhead costs and insurance expenses
Pricing Tips for New Accounting Firms
Research competitors in your area and niche
Start with tiered packages to offer flexibility
Review and adjust pricing annually
Communicate value clearly in proposals and consultations
Include insurance costs in your pricing model to ensure profitability
Essential Insurance Coverages for Accounting Businesses
As you determine your pricing strategy, don’t forget to factor in the cost of protecting your business. Insurance is not only a safeguard—it’s a sign of professionalism and trustworthiness to your clients. At Wexford Insurance, we help accounting firms find tailored coverage that fits their size, services, and risk profile.
Here are the key types of insurance to consider:
Protects against claims of negligence, mistakes, or failure to deliver professional services.
Covers third-party claims of bodily injury, property damage, or personal injury that may occur at your office or during business operations.
Protects your office space, furniture, computers, and other physical assets from fire, theft, or natural disasters.
Required if you have employees. Covers medical expenses and lost wages due to work-related injuries or illnesses.
If you or your staff use vehicles for business purposes—such as visiting clients—this coverage protects against accidents and liability.
Covers repair or replacement costs for essential business equipment like computers, servers, and secure filing systems.
External Resources for Pricing Guidance
Resource for Contractor-Focused Accounting Firms
Serving contractors and construction clients requires efficient systems and clear communication. Contractor Back Office provides invoicing, bookkeeping, and CRM solutions tailored to the needs of contractor-focused accounting businesses—streamlining operations and supporting consistent, professional service delivery.
📌 Learn more about Contractor Back Office and how it can support your accounting business.
Get Expert Help from Wexford Insurance
As you build and price your accounting services, don’t overlook the importance of protecting your business. At Wexford Insurance, we help accounting professionals find affordable, customized coverage that fits their business model and risk profile.
Ready to protect your accounting firm while growing your revenue?
