This guide offers 10 essential facts about bookkeepers and bookkeeping services in Maine, as well as advice on how to become a bookkeeper.
Whether you’re looking for a bookkeeping service or you’re considering entering the profession, the following 10 things to know about Maine bookkeepers and bookkeeping will answer all of your questions.
1. How Much Do Maine Bookkeepers Cost?
The cost of employing a Maine bookkeeper varies, depending on the bookkeeping services you require, the level of support needed, the bookkeeper’s prior experience and qualifications, and whether you hire an independent contractor or an internal bookkeeper. Additionally, some businesses use bookkeeping software tools, which will incur an extra cost.
You have two options if you’re in Maine and looking to hire a bookkeeper. You can use Upwork, where the average hourly rate is between $18-$170, or you can choose to work with a local bookkeeping firm. The fees for this option depend on the project’s scope and can start at an average rate of $37 per hour.
Opting for an online accounting and bookkeeping software tool is a more cost-efficient solution when compared to other possibilities.
The cost of such software can vary depending on the subscription plan, yet it’s typically much more affordable than employing a freelance or self-employed bookkeeper or bookkeeping service. Moreover, some software tools can be acquired with a one-time payment that would give you lifelong access to them and provide great value for money.
2. What Are Typical Bookkeeper Hourly Rates in Maine?
What is the cost of hiring a bookkeeper in Maine? Prices for this service can range, depending on the source.
- Indeed: $23.86 average hourly rate
- Pilot: $18.84 average hourly rate
- Zippia: $17.24 average hourly rate
- Bookkeepers.com: $17.23 average hourly rate
The Bureau of Labor has stated that the typical hourly remuneration for bookkeepers, accountants, and auditors in Maine is an average of $20.83. This is quite close to the median compensation of $19.07, which suggests that wages are evenly distributed. The least amount reported is $17.23, and the highest is $23.86.
3. What Is the Average Bookkeeper Salary in Maine?
According to online sources, bookkeepers in Maine can anticipate a lucrative full-time wage. The remuneration for this role extends from a yearly sum of $37,050 to $43,327.
- Indeed: $59,404 average per year
- Salary: $41,212 average per year
- Glassdoor: $40,870 average per year
- Zippia: $36,192 average per year
- Talent: $42,500 average per year
The Bureau of Labor’s statistics indicates that bookkeepers in the state of Maine typically make an annual salary of approximately $43,330 prior to taxes and other compensations being deducted.
4. What Does a Maine Bookkeeper Do?
Bookkeepers in Maine are responsible for various tasks, as outlined by the U.S. Bureau of Labor Statistics.
Maine-based bookkeepers, accountants, and auditing clerks are responsible for the meticulous management of financial records for businesses and organizations.
They must adhere to accuracy in their work, including balancing accounts and reconciling bank statements and must also comply with applicable laws and regulations, including those set forth by the Maine Department of Revenue.
These professionals may also be tasked with preparing invoices, processing payroll, and filing taxes.
5. How to Become a Bookkeeper in Maine
Bookkeepers in Maine must be organized, detail-oriented, and have a strong understanding of accounting principles.
The Board of Accountancy of Maine has similar qualifications to those of other states regarding CPA licensure, yet they have some specific requirements, such as not having an age requirement or asking that the individual be a Maine resident, but a Social Security number is necessary.
Furthermore, the state has established tough educational, exam, and experience qualifications, but they don’t demand that the applicant take an Ethics test.
To become a Certified Public Accountant (CPA) in Maine, you must have a baccalaureate degree with a concentration in accounting or business from a regionally accredited institution that must include 150 semester credit hours.
Credits from CLEPs, commercial CPA preparation courses, or non-accredited institutions are not accepted.
6. Do You Need to Be Certified or Licensed to Be a Maine Bookkeeper?
No, you don’t need to be certified or licensed to work as a bookkeeper in Maine. The Maine Board of Accountancy offers license and certification programs for both bookkeepers and accounting professionals.
You must pass the examinations offered by the Board of Accountancy in order to become certified or licensed. Additionally, you must also meet the Board of Accountancy’s specific experience and education requirements to receive your license or certification.
In order to become a certified bookkeeper in Maine, you must meet the following requirements:
- Be at least 18 years of age
- Have a high school diploma or equivalent
- Have at least two years of bookkeeping experience
- Pass an approved examination offered by the Maine Board of Accountancy
- Submit an application to the Board of Accountancy
- Pay the applicable fees
You may also be required to complete additional coursework or training in order to become certified.
7. Can I Take Any Bookkeeping Classes in Maine?
Yes, you can take bookkeeping classes in Maine. Several colleges, universities, and other educational institutions offer bookkeeping classes, as well as online courses.
Some of the most popular schools offering bookkeeping classes in Maine include:
- University of Maine Presque Ilse. This degree equips students for a career in accounting and finance, such as tax, auditing, corporate accounting, governmental accounting, and not-for-profit accounting. Additionally, our graduates have ventured into banking and management.
- Northern Maine Community College. This bookkeeper certification course is specially crafted to give professional bookkeepers a comprehensive understanding of key bookkeeping concepts, definitions, and calculations.
- Kennebec Valley Community College. This accounting program trains students to become paraprofessionals who possess a broad array of abilities and knowledge to use in the accounting field. The program equips them with hands-on experience in payroll, accounts payable, accounts receivable, inventory, federal taxation, spreadsheets, and databases through the utilization of modern accounting and tax software.
You can also find online bookkeeping classes, such as those offered by CareerStep.
8. What Software Can I Use For Bookkeeping in Maine?
In Maine, there are many bookkeeping software options available. Here are the best ones.
QuickBooks is a comprehensive bookkeeping software solution that’s ideal for small businesses. It offers a user-friendly dashboard, with the ability to customize reports and gain insights into their financials. It also integrates with other business applications and provides features such as automatic back-ups, bank reconciliation, and creating invoices and estimates.
QuickBooks is available in three different packages, with prices starting at $17/month.
FreshBooks is an online accounting software designed for small business owners, freelancers, and sole proprietors. It’s designed to make it easy for users to track their income and expenses, create invoices, manage projects, and collaborate with clients.
FreshBooks is popular because it’s easy to use and understand, offers a variety of features, and is affordable. It also automates many of the time-consuming tasks associated with accounting such as invoicing, expense tracking, and client communication.
Additionally, FreshBooks integrates with popular third-party applications.
FreshBooks pricing plans start at $15/month and go up to $55/month, depending on the features needed.
Zoho Books is an online accounting software that can be used to create invoices, track expenses, manage inventory, and generate financial reports. It’s popular because it’s easy to use, secure, and affordable.
It also offers a variety of features that make it easier for small businesses to manage their finances. These features include automatic categorization of expenses, tax management, payment reminders, and integration with other Zoho products.
The base subscription starts at $15 per month.
Xero is an online accounting software that helps small businesses manage invoicing, accounting, payroll, and reporting. Xero is popular because it’s affordable, reliable, and easy to use.
Xero has an intuitive and user-friendly interface, making it accessible to small business owners with no accounting experience. It also offers integration with other business systems, such as payroll and payment solutions, and excellent customer support.
Xero’s pricing plans range from $13/month up to $70/month, depending on the features needed.
Sage Accounting software is a cloud-based accounting system that is increasing in popularity thanks to its user-friendliness and wide range of features that can be tailored to fit specific business needs. Sage is a comprehensive system that allows businesses to track their income and expenses, generate invoices, manage their inventory, and even create reports.
The subscription prices start at $10 for the starter plan, whereas the premium plan costs $25.
9. How Many Bookkeepers Are There in Maine?
According to the Bureau of Labor Statistics, there are over 7,500 bookkeepers employed in the state of Maine.
10. Where Can I Find The Best Maine Bookkeepers?
If you’re looking for the top bookkeepers in Maine, you can find them by selecting your city from the list provided below.