206 | 2025 The State of Virtual Bookkeeping & Accounting Industry Report with Alyssa Lang

Hey ambitious bookkeepers!

I'll be honest with you - when I launched our first-ever State of Virtual Bookkeeping and Accounting Industry Report, I had no idea what to expect. Would people actually respond? Would the data be useful? Would it just confirm what we already suspected?

Well, 644 responses later, I can tell you the results are both validating and concerning. Let me break down what your peers shared and why it matters for your business.

Listen here or on your favorite podcast player, or watch the video version on YouTube >>

Now let's dive into some highlights!

The Solo Struggle Is Real (And Risky)

Here's the stat that kept me up at night: 58% of respondents don't have a team, yet 50% are working full-time. Even more concerning? 26% are managing 20+ clients.

Look, I'm not here to shame anyone for being a solopreneur. There's absolutely nothing wrong with choosing to stay solo if that aligns with your goals. But if you're working full-time hours, feeling overwhelmed, and handling dozens of clients alone - that's risky business.

What happens if you get sick? What if you want to take a vacation? What if you just need a mental health day?

I hired my first team member when I only had 5 clients, and here's why: I priced from day one like I already had a team. This meant when I did hire, I wasn't scrambling to raise everyone's rates by 50% just to afford help.

Pricing Is Getting Better (But We Still Have Work to Do)

The good news? Only 18% of respondents charge under $300 per month. The majority (40%) are charging $300-500, with 21% in the $500-750 range.

But here's what I want you to consider: if your clients are making under $100K annually (which 52% of respondents indicated), and you're charging under $300, ask yourself - are you positioning yourself as a strategic partner or just a data entry person?

Even micro businesses can afford $300+ if you're providing real value. The key is being clear about what that value is and communicating it effectively.

The Identity Crisis We Need to Address

28% of respondents call themselves "bookkeeper" and another 28% call themselves "owner." Only 15% use "accountant."

I used to be "Of Course Bookkeeping." Now I'm "Of Course Financial." Why the change? Because "bookkeeper" started feeling limiting. Like I was just someone's assistant instead of a strategic business partner.

My friend Alyssa (the Workflow Queen) made a similar shift from "Magnetic Bookkeeping" to "Magnetic Profits." We both noticed that how we positioned ourselves affected how clients perceived and valued our services.

Your title should reflect the VALUE you bring, not just the tasks you perform.

What This Means for Your Business

If you're part of that 58% working solo:

• Start building systems now - even if you don't hire immediately, having processes documented protects your business
• Price for the future - if you think you'll eventually want a team, price like you already have one
• Create contingency plans - what happens if you can't work for a week? A month?

If you're underpricing:

• Look at your client's revenue - can they afford more? If not, maybe they're not your ideal client
• Calculate your true costs - including your time, software, and desired profit
• Raise rates strategically - start with new clients and gradually adjust existing ones

If you're questioning your positioning:

• Audit your language - how do you introduce yourself? What does your email signature say?
• Consider a rebrand - sometimes a name change can shift how both you and your clients view your services
• Focus on outcomes - instead of "I do bookkeeping," try "I help business owners make better financial decisions"

The Advisory Services Reality Check

Let's move on to something that honestly shocked me: while only a small percentage of respondents said they offer advisory services, I'm willing to bet that at least 80% of you are actually doing advisory work – you're just not charging for it.

Here's the thing: advisory isn't just creating complex budgets and fancy forecasting models. If you're on a client call and you find yourself saying things like "you might want to pay this person this much" or "here's how you can fix your cash flow problem by charging clients upfront," you've crossed the line from report reading into advisory territory.

The distinction is simple: reading a report and answering questions about specific line items isn't advisory. But analyzing data, interpreting what it means for the client's business, identifying trends, and making strategic recommendations? That's absolutely advisory work, and it should be priced accordingly.

During our discussion, Alyssa and I talked about pricing for this level of service. For monthly strategic calls (without full budget creation), we're looking at $300-400 per month. If you're including annual budget preparation and quarterly reforecasting, that price point makes even more sense because you're accounting for the backend work and ongoing strategic support.

The Word-of-Mouth Referral Machine

Our survey showed that 41% of respondents rely on word-of-mouth referrals as their primary client acquisition method. While referrals are fantastic, there's a crucial difference between having a referral-based business and just waiting for referrals to happen.

Here's what I've learned: if you're planning to build a sellable business, you can't rely solely on word-of-mouth marketing. When I went through a business valuation process, I discovered that businesses heavily dependent on founder-driven referrals are actually valued lower because they're seen as less reliable and harder to systematize.

But that doesn't mean you should abandon referrals – you just need to systematize them. Create referral campaigns, even if it's just five manual emails sent over a week. Offer incentive periods where you double your referral fee for a limited time. Build strategic relationships in networking groups and masterminds where you can develop solid, trust-based partnerships.

The key is being intentional about it rather than passive.

The Instagram Debate: Presence vs. Performance

One of the most interesting discussions Alyssa and I had was about social media, particularly Instagram. The data showed that 6% of respondents are finding clients through Instagram, but here's where strategy becomes crucial.

There's a significant difference between using Instagram to attract new clients and using Instagram as part of your overall marketing ecosystem. If your goal is client conversion, you need a customized, strategic approach – not templated content that looks exactly like every other bookkeeper's feed.

However, if you're using Instagram simply as a touchpoint in your referral and SEO strategy – where potential clients who find you through other means can go to see a professional presence – then templates might work just fine.

The question you need to ask yourself is: what's my actual goal with this platform? Because your goal should determine your strategy and investment level.

The Contradiction That's Holding You Back

Here's where things got really interesting in our survey results. When we asked about biggest challenges, the overwhelming response was "getting more clients" and "marketing." But when we asked what kind of content and support people needed, marketing didn't even crack the top five.

Instead, respondents wanted help with:

1. Systems and workflows (24%)
2. Pricing and packaging (16%)
3. Advisory services (16%)
4. Mindset and confidence (16%)
5. Team building (10%)

Friends, this is like saying you're hungry but refusing to learn how to cook.

If you're struggling to get clients but your systems aren't solid, adding more clients will just magnify your problems. If your pricing isn't figured out, you'll attract the wrong clients. If your mindset isn't in the right place, you'll self-sabotage your success.

The foundation has to come before the marketing machine. Always.

The Investment Reality

There comes a point in every business where free information stops being sufficient. I see this all the time – people jumping from one free resource to another, switching between software platforms, constantly looking for the "magic solution" that will solve all their problems.

But here's the truth: if your biggest challenge is getting clients, why are you spending time switching between project management software? If you need marketing help, why aren't you investing in marketing education or support?

Sometimes the best investment you can make is in focused, strategic guidance that helps you stop spinning your wheels and start making real progress.

Moving Forward Strategically

The beautiful thing about our industry is that there's no one "right" way to build a successful bookkeeping business. Whether you focus on referral relationships, build a social media presence, or develop strategic partnerships, success is possible with the right strategy and consistent execution.

But success requires honesty about where you are, clarity about where you want to go, and the willingness to invest in the right resources to bridge that gap.

Take a look at your own business: Are you doing advisory work without charging for it? Are you waiting for referrals instead of systematically generating them? Are you asking for marketing help while ignoring foundational issues?

The answers to these questions will tell you exactly where to focus your energy next.

Want to Look Closer?

This survey was just the beginning. Next year, we'll ask better questions, provide more clarity, and hopefully see continued growth in pricing and professionalism across our industry.

The data shows we're moving in the right direction, but there's still work to do. We need to continue elevating our industry, supporting each other, and charging what we're worth.

Want to dive deeper into the full results? Head to ambitiousbookkeeper.com/results to access the complete report.

What surprised you most about these results? I'd love to hear your thoughts - find me on Instagram @ambitiousbookkeeper.

Connect with Alyssa

🌐 Website: workflowqueen.com

📱 IG: @workflowqueen

🎙️ Podcast: Conquering Workflows & Systems with the Workflow Queen

Connect with The Ambitious Bookkeeper®

🌐 Website: ambitiousbookkeeper.com

👩‍💻 Blog: ambitiousbookkeeper.com/blog

📱 Instagram: instagram.com/ambitiousbookkeeper

📱 Facebook: Facebook.com/serenashoupcpa

💼 LinkedIn: Linkedin.com/in/SerenaShoup

For experienced bookkeepers & accountants:

Learn how to start your bookkeeping business in The Bookkeeping Business Accelerator® >>

Grab my FREE Start your Bookkeeping Biz Checklist >>

Grab my FREE New Client Onboarding Templates >>

For new bookkeepers:

Learn the fundamental accounting skills in Katie Ferro's Become a Bookkeeper >>

For online course creators:

Become a client at my firm, Of Course Financial >>

AFFILIATE DISCLAIMER

We participate in affiliate marketing programs, which means we may earn a commission from purchases made through the links on our blog. However, our recommendations are based on our own research and expertise, and your trust is our priority.