The first step lies in establishing the difference between two key conceptsâReplacement Cost Value (RCV) and Actual Cash Value (ACV). Generally speaking, the replacement cost refers to the amount an entity would pay to replace an asset at the present value. The actual cash value, on the other hand, is the cost to replace an item, less depreciation.
Instead, they may contract for their services through an accounting firm. These bookkeepers average $38,500 to $57,250 a year without certification. A certified bookkeeper, on the other hand, can expect to earn $40,425 to $62,975 a year in 2013.
1 Hourly rates for an outside bookkeeping service run $20-$50 an hour, depending on complexity and location. 2  Usually you can hire a trained, experienced bookkeeper on a contract basis for $30-$40 an hour, but there can be a minimum monthly charge of $100-$150 for small businesses that don't require a lot of work hours. A typical salary for an in-house bookkeeper in the United States runs $30,400-$39,898 according to Salary.com. 2  The average annual pay for a bookkeeping account executive is $68,294, or $57,600 for a payroll manager, according to BookkeeperList.com.