I'm in need of a bookkeeper to help understand my cash flow

[Ricky Jefferson]

I'm thinking about hiring an Account Manager to do my Bookkeeping. What should i pay for setup and monthly rate?

[Jennifer Ramsey]

@Ricky Jefferson It depends on the level of complexity and what you are really looking for in a bookkeeper/accountant. I have experienced this first hand, some people may think they need a bookkeeper and come to find out that they needed someone with higher qualifications than originally anticipated. 

There is a big difference between accounting manager and account manager; account manager doesn't imply someone with an accounting background.

It's better to find someone overqualified than someone who doesn't know the difference between asset and liabilities and operating and finance activities. That person could also setup the system/process and train someone at a lower level to manage the day-to-day.

I know I didn't give you an answer on pay rates, but I have seen it time and time again; clients hiring under-qualified talent and paying the price in the long run. I'm a firm believer in doing things right the first time. My background is corporate accounting (10 years, active CPA). I would also recommend reaching out to someone you know in HR/talent acquisitions/recruiting to help you define your needs and then the pay rate could be discussed. Best of luck!