Is $500/Month Fair for Your Situation? — Quick Verdict
$500/month is TOO MUCH if you are:
- A sole proprietor or single-member LLC with under 100 transactions/month — fair price is $200–$350
- Using a bookkeeper who charges extra for year-end workpapers or 1099 tracking on top of $500
- Getting only bank reconciliation and expense categorization with no quarterly reports
- On a proprietary software platform (Bench) where you cannot export your data
$500/month is FAIR if you have:
- A multi-member LLC (Form 1065) with 150–250 monthly transactions
- An S-corp with owner payroll reconciliation and salary/distribution tracking included
- Year-end CPA workpapers, 1099 tracking, and quarterly estimated tax data all included in scope
- A business with 2–5 employees and payroll reconciliation required
What $500/Month Should Always Include
| Service | Should Be Included at $500/mo? |
|---|---|
| Bank and credit card reconciliation (all accounts) | Yes — always |
| Expense categorization to correct tax lines | Yes — always |
| 1099-NEC contractor tracking | Yes — always |
| Monthly P&L and balance sheet | Yes — always |
| Year-end CPA workpaper package | Yes — this is non-negotiable at $500/mo |
| Quarterly estimated tax data for your CPA | Yes — at this price point |
| Owner payroll reconciliation (if S-corp) | Yes — should be included |
| Sales tax filing | No — this is a legitimate add-on |
| Payroll processing (running payroll) | No — payroll RECONCILIATION yes, running payroll no |
Where $500/Month Fits in the Market
| Situation | Fair Price (US Market) | Sharma Jyoti and Co |
|---|---|---|
| Sole proprietor, under 75 transactions | $200–$400/mo | $200–$250/mo |
| SMLLC, 75–150 transactions | $350–$600/mo | $250–$350/mo |
| Multi-member LLC, 150–250 transactions | $500–$900/mo | $350–$500/mo |
| S-corp with payroll, 150–200 transactions | $600–$1,100/mo | $400–$600/mo |
Frequently Asked Questions
It depends on scope and transaction volume. For a sole proprietor with under 100 monthly transactions, yes — fair price is $200–$350. For an S-corp or multi-member LLC with payroll and 150+ transactions, $500 can be fair. At Sharma Jyoti and Co, $500/month covers full S-corp bookkeeping including payroll reconciliation and year-end workpapers.
Bank reconciliation, expense coding, 1099 tracking, monthly P&L and balance sheet, quarterly estimated tax data, and year-end CPA workpapers — all included. At $500/month you should also have payroll reconciliation if you are an S-corp or have employees. No add-on charges for year-end workpapers.
Yes. Sharma Jyoti and Co starts at $200/month for sole proprietors. Most single-member LLCs pay $200–$350/month. S-corps with payroll are in the $400–$600/month range. The $500/month floor at US providers reflects US labor costs — not a quality threshold.