As an interior designer, you know that running a successful business requires more than just creativity and design skills. Managing finances is an essential part of running any business, and interior design is no exception. However, many designers are unsure about how much they should spend on monthly bookkeeping services and which services are essential for their businesses.
Interior Designer Bookkeeping Standards
Per industry standards, interior designers should allocate around 5% of their gross sales for monthly bookkeeping services. This may seem like a lot, but it’s important to remember that bookkeeping is not just about recording transactions; it also involves financial analysis, tax planning, and compliance. By investing in quality bookkeeping services, you can save time, reduce errors, and make better financial decisions for your business.
Protip: On your monthly time billing invoice, bill your clients a flat rate for administrative fees. For example, $150 flat rate for 10 clients covers $1,500 to cover your monthly bookkeeping costs.
To make things easier for interior designers, Logistis For Designers offers three different bookkeeping packages designed to meet the specific needs of the industry. Each package provides a range of services at varying prices, allowing designers to choose the package that best suits their budget and needs.
Interior Designer Bookkeeping Packages
The Entry package is the most affordable option, priced at $699 per month. This package includes basic monthly bookkeeping services such as bank and credit card reconciliations, quarterly financial reports, quarterly sales tax filings, and access to the Logistis For Designers team for ongoing support and guidance. We recommend this package for designers who are new to the industry, have a limited budget for bookkeeping, or run their business as a part-time gig.
The Elite package is priced at $1249 monthly and includes all the services in the Entry package, plus monthly customized calls with your assigned client manager who have experience running profitable design firms, purchase order tracking for a check and balance on your out-of-pocket purchasing, P&L by project and 1099 filings to name a few. This package is designed for interior designers looking to grow their businesses and streamline their operations.
The most comprehensive package is the Elevated package, priced at $2499 per month. This package includes more advanced financial reporting and analysis. It’s ideal for larger interior design businesses that require more comprehensive financial management and services.
Financial Management for Interior Designers
By outsourcing your financial management to Logistis For Designers, designers can save time and focus on their core business activities. We believe in building long-lasting relationships with our designers as an extension of your business. Our partnership allows you to rest assured that your financial records are accurate, up-to-date, and you have financial records to make the big decisions for your business!
Interior Design Bookkeeping by Logistis
Bookkeeping services are an essential part of running an interior design business. By investing in quality monthly bookkeeping services, you can save time, reduce errors, and make better financial decisions for your business. Logistis For Designers offers tailored bookkeeping packages that can help you manage your finances and achieve your business goals. Contact us today to learn more about our bookkeeping services and packages.
