How many hours do your books really take?
Answer six questions about your business to estimate the monthly hours your bookkeeping, payroll, and sales tax take, and what that time is worth.
Where the hours go
- Recording transactions and matching receipts
- 4.5 hours/month
- Reconciling bank and card accounts
- 2.5 hours/month
- Invoicing, bills, and follow-up
- 2 hours/month
- Running payroll and remittances
- 2 hours/month
- GST and PST returns
- 1 hour/month
- Year-end prep, spread across the year
- 1.5 hours/month
- Total
- 13.5 hours/month
How we estimate this
These are estimates for a business owner keeping their own books, not a trained bookkeeper. Your own time may be shorter or longer.
- Recording: 1.2 minutes per transaction, plus 0.3 minutes to match a receipt from an app, 1 from email or folders, or 1.8 from paper.
- Reconciliation: 1.5 hours a month, plus 1 hour per 100 transactions.
- Invoicing and bills: 1 hour a month, plus 1 hour per 150 transactions.
- Payroll: 30 minutes per pay run plus 5 minutes per person, and 20 minutes a month for remittances.
- GST and PST: about 1.25 hours a month for monthly filers, 0.9 for quarterly, and 0.5 for annual, averaged per month.
- Year-end preparation for your accountant: 18 hours a year.
- With Tallyforth, you'd still spend about 1 hour a month sending records and answering questions, so that's taken off the time you get back.
Real numbers, not "we'll get back to you."
Answer a few questions and see your monthly, one-time, and year-end pricing on the spot.
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