Many business owners concern about how much they need to pay for maintaining a set of proper accounting records. I must say: it depends.
Naturally, as the business grows, the financial function becomes more important and the complexity will make the cost higher.
In hiring an appropriate accounting staff, the salary costs conservatively varies from HK$15,000 to HK$30,000 per month. Business owners’ would be in trouble if and when their accounting staff go away causing substantial back log to be taken over by the new comer. The new comer may be reluctant to follow up or leave the business owner within a short time.
Business may consult professionals for better way to solve the problem and can consider paying a lump sum fee for bookkeeping on the job basis.
Normally, higher is the monthly fee when regular reporting is required. For those smaller companies who do not need regular reporting could pay yearly fee for bookkeeping instead of hiring an in-house accounting staff. A reasonable fee would be HK$1,800 to HK$2,500 per man day. It only requires one to two days for skillful professionals to complete the smaller company’s bookkeeping work!