{"id":24771,"date":"2022-01-04T08:00:33","date_gmt":"2022-01-04T14:00:33","guid":{"rendered":"https:\/\/taxprocenter.proconnect.intuit.com\/?p=24771"},"modified":"2022-02-17T12:06:17","modified_gmt":"2022-02-17T18:06:17","slug":"the-results-of-the-new-intuit-rate-survey-are-in","status":"publish","type":"post","link":"https:\/\/accountants.intuit.com\/taxprocenter\/practice-management\/the-results-of-the-new-intuit-rate-survey-are-in\/","title":{"rendered":"The results of the new Intuit Rate Survey are in!"},"content":{"rendered":"<p>The 2021 Intuit\u00ae Rate Survey results are in! If you were one of the almost 900 accounting and bookkeeping professionals who participated in the survey, you have our deepest gratitude!<\/p>\n<p>We are excited to share the initial results with you. Over the next few weeks, we will be sharing the insights we learned in a series of articles that will be published on <a href=\"http:\/\/www.firmofthefuture.com\/\" target=\"_blank\" rel=\"noopener\" target=\"_blank\">Firm of the Future<\/a>. As in past years, the 2021 survey asked a variety of questions related to firm demographics, methods used to bill clients for different types of services, and of course, how much practitioners are charging for these services. This year we also asked specific questions regarding <a href=\"https:\/\/proconnect.intuit.com\/coronavirus\/\" target=\"_blank\" rel=\"noopener\">COVID-19<\/a> and its impact on your firm\u2019s gross profit margins and average fixed prices, while also touching on how our clients were affected.<\/p>\n<p>A series of questions pertaining to referral sources and social media marketing were also asked to gain insight into how firms are attracting new business. We were also interested to learn how practitioners were billing for advisory and technology consulting services. We\u2019re excited to share our discoveries in future articles!<\/p>\n<h2 class=\"heading-2\">Who participated in the survey?<\/h2>\n<p>The following data tells us that most survey respondents:<\/p>\n<ul>\n<li>Were\u00a0solo-practitioners\u00a0(48%)\u00a0or small firms with 2-5\u00a0employees\u00a0(32%).<\/li>\n<li>Belonged to the QuickBooks <a href=\"https:\/\/quickbooks.intuit.com\/accountants\/proadvisor\/\" target=\"_blank\" rel=\"noopener\">ProAdvisor\u00ae program<\/a>, with 51%\u00a0belonging\u00a0to\u00a0the\u00a0free <a href=\"https:\/\/quickbooks.intuit.com\/accountants\/products-solutions\/accounting\/quickbooks-online\/\" target=\"_blank\" rel=\"noopener\">QuickBooks Online<\/a> program, and 48% (combined) belonging to\u00a0one of the <a href=\"https:\/\/quickbooks.intuit.com\/desktop\/\" target=\"_blank\" rel=\"noopener\">QuickBooks Desktop<\/a> paid\u00a0programs.<\/li>\n<li>Selected\u00a0bookkeeper (65%)\u00a0or accountant (40%)\u00a0as\u00a0one\u00a0their professional designations.<\/li>\n<\/ul>\n<p>This year, we included Business Advisor or Coach as a professional designation, and 25% of respondents identified themselves as such.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-24774\" src=\"https:\/\/taxprocenter.proconnect.intuit.com\/wp-content\/uploads\/2021\/12\/Rate-Survey-2021-1.png\" alt=\"Rate Survey 2021 1\" width=\"640\" height=\"373\" srcset=\"https:\/\/taxprocenter.proconnect.intuit.com\/wp-content\/uploads\/2021\/12\/Rate-Survey-2021-1.png 1514w, https:\/\/taxprocenter.proconnect.intuit.com\/wp-content\/uploads\/2021\/12\/Rate-Survey-2021-1.png?resize=150,87 150w, https:\/\/taxprocenter.proconnect.intuit.com\/wp-content\/uploads\/2021\/12\/Rate-Survey-2021-1.png?resize=300,175 300w, https:\/\/taxprocenter.proconnect.intuit.com\/wp-content\/uploads\/2021\/12\/Rate-Survey-2021-1.png?resize=768,447 768w, https:\/\/taxprocenter.proconnect.intuit.com\/wp-content\/uploads\/2021\/12\/Rate-Survey-2021-1.png?resize=700,408 700w, https:\/\/taxprocenter.proconnect.intuit.com\/wp-content\/uploads\/2021\/12\/Rate-Survey-2021-1.png?resize=740,431 740w, https:\/\/taxprocenter.proconnect.intuit.com\/wp-content\/uploads\/2021\/12\/Rate-Survey-2021-1.png?resize=1440,839 1440w, https:\/\/taxprocenter.proconnect.intuit.com\/wp-content\/uploads\/2021\/12\/Rate-Survey-2021-1.png?resize=720,419 720w\" sizes=\"auto, (max-width: 640px) 100vw, 640px\" \/><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-24775\" src=\"https:\/\/taxprocenter.proconnect.intuit.com\/wp-content\/uploads\/2021\/12\/Rate-Survey-2021-2.png\" alt=\"Rate Survey 2021 2\" width=\"640\" height=\"374\" srcset=\"https:\/\/taxprocenter.proconnect.intuit.com\/wp-content\/uploads\/2021\/12\/Rate-Survey-2021-2.png 1518w, https:\/\/taxprocenter.proconnect.intuit.com\/wp-content\/uploads\/2021\/12\/Rate-Survey-2021-2.png?resize=150,88 150w, https:\/\/taxprocenter.proconnect.intuit.com\/wp-content\/uploads\/2021\/12\/Rate-Survey-2021-2.png?resize=300,175 300w, https:\/\/taxprocenter.proconnect.intuit.com\/wp-content\/uploads\/2021\/12\/Rate-Survey-2021-2.png?resize=768,449 768w, https:\/\/taxprocenter.proconnect.intuit.com\/wp-content\/uploads\/2021\/12\/Rate-Survey-2021-2.png?resize=700,409 700w, https:\/\/taxprocenter.proconnect.intuit.com\/wp-content\/uploads\/2021\/12\/Rate-Survey-2021-2.png?resize=740,433 740w, https:\/\/taxprocenter.proconnect.intuit.com\/wp-content\/uploads\/2021\/12\/Rate-Survey-2021-2.png?resize=1440,842 1440w, https:\/\/taxprocenter.proconnect.intuit.com\/wp-content\/uploads\/2021\/12\/Rate-Survey-2021-2.png?resize=720,421 720w\" sizes=\"auto, (max-width: 640px) 100vw, 640px\" \/><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-24776\" src=\"https:\/\/taxprocenter.proconnect.intuit.com\/wp-content\/uploads\/2021\/12\/Rate-Survey-2021-3.png\" alt=\"Rate Survey 2021 3\" width=\"640\" height=\"322\" srcset=\"https:\/\/taxprocenter.proconnect.intuit.com\/wp-content\/uploads\/2021\/12\/Rate-Survey-2021-3.png 1754w, https:\/\/taxprocenter.proconnect.intuit.com\/wp-content\/uploads\/2021\/12\/Rate-Survey-2021-3.png?resize=150,75 150w, https:\/\/taxprocenter.proconnect.intuit.com\/wp-content\/uploads\/2021\/12\/Rate-Survey-2021-3.png?resize=300,151 300w, https:\/\/taxprocenter.proconnect.intuit.com\/wp-content\/uploads\/2021\/12\/Rate-Survey-2021-3.png?resize=768,386 768w, https:\/\/taxprocenter.proconnect.intuit.com\/wp-content\/uploads\/2021\/12\/Rate-Survey-2021-3.png?resize=700,352 700w, https:\/\/taxprocenter.proconnect.intuit.com\/wp-content\/uploads\/2021\/12\/Rate-Survey-2021-3.png?resize=1536,772 1536w, https:\/\/taxprocenter.proconnect.intuit.com\/wp-content\/uploads\/2021\/12\/Rate-Survey-2021-3.png?resize=740,372 740w, https:\/\/taxprocenter.proconnect.intuit.com\/wp-content\/uploads\/2021\/12\/Rate-Survey-2021-3.png?resize=1440,724 1440w, https:\/\/taxprocenter.proconnect.intuit.com\/wp-content\/uploads\/2021\/12\/Rate-Survey-2021-3.png?resize=720,362 720w\" sizes=\"auto, (max-width: 640px) 100vw, 640px\" \/><\/p>\n<h2 class=\"heading-2\">Billing practices<\/h2>\n<p>The survey asked practitioners\u00a0how they\u00a0billed their clients for various service offerings\u00a0based on the following definitions:<\/p>\n<ul>\n<li><strong>Hourly billing<\/strong>\u00a0based on the hours worked.<\/li>\n<li><strong>Value pricing<\/strong>\u00a0based on the maximum amount a given client is willing to pay for a\u00a0service,\u00a0typically\u00a0set before the work begins.<\/li>\n<li><strong>Value billing<\/strong>\u00a0is usually marking up\u2014or more frequently marking down\u2014the invoice to the client after the work has been performed.<\/li>\n<li><strong>Fixed fees,<\/strong>\u00a0with the fee\u00a0often\u00a0determined based on estimated hours\u00a0(or cost)\u00a0to complete the work.<\/li>\n<\/ul>\n<p>When billing for QuickBooks-related services,\u00a0hourly billing is still\u00a0most commonly used\u00a0for\u00a0monthly accounting\/bookkeeping (50%), catch-up accounting\/bookkeeping (62%), clean-up or troubleshooting (66%), QuickBooks set-up (47%), and QuickBooks training (58%).<\/p>\n<p>When it comes to billing for monthly services, our respondents preferred to use either hourly billing (50%) or fixed-fee billing\u00a0(49%). Since our last survey in 2019, value pricing has declined by almost 10% indicating a shift toward other billing methods for ongoing monthly services.<\/p>\n<p>Hourly billing methods are also predominantly used for technology consulting (40%) and advisory services (50%).\u00a0However, fixed fee pricing was the most popular method to bill clients\u00a0for payroll (43%) and tax preparation services (27%).<\/p>\n<p>As observed in prior years, the\u00a0survey\u00a0results continue to suggest that accounting professionals prefer to bill hourly for services where there is\u00a0a higher\u00a0degree of uncertainty about the time and effort needed to complete the work.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-24777\" src=\"https:\/\/taxprocenter.proconnect.intuit.com\/wp-content\/uploads\/2021\/12\/Rate-Survey-2021-4.png\" alt=\"Rate Survey 2021 4\" width=\"640\" height=\"374\" srcset=\"https:\/\/taxprocenter.proconnect.intuit.com\/wp-content\/uploads\/2021\/12\/Rate-Survey-2021-4.png 1520w, https:\/\/taxprocenter.proconnect.intuit.com\/wp-content\/uploads\/2021\/12\/Rate-Survey-2021-4.png?resize=150,88 150w, https:\/\/taxprocenter.proconnect.intuit.com\/wp-content\/uploads\/2021\/12\/Rate-Survey-2021-4.png?resize=300,175 300w, https:\/\/taxprocenter.proconnect.intuit.com\/wp-content\/uploads\/2021\/12\/Rate-Survey-2021-4.png?resize=768,449 768w, https:\/\/taxprocenter.proconnect.intuit.com\/wp-content\/uploads\/2021\/12\/Rate-Survey-2021-4.png?resize=700,409 700w, https:\/\/taxprocenter.proconnect.intuit.com\/wp-content\/uploads\/2021\/12\/Rate-Survey-2021-4.png?resize=740,432 740w, https:\/\/taxprocenter.proconnect.intuit.com\/wp-content\/uploads\/2021\/12\/Rate-Survey-2021-4.png?resize=1440,841 1440w, https:\/\/taxprocenter.proconnect.intuit.com\/wp-content\/uploads\/2021\/12\/Rate-Survey-2021-4.png?resize=720,421 720w\" sizes=\"auto, (max-width: 640px) 100vw, 640px\" \/><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-24778\" src=\"https:\/\/taxprocenter.proconnect.intuit.com\/wp-content\/uploads\/2021\/12\/Rate-Survey-2021-5.png\" alt=\"Rate Survey 2021 5\" width=\"640\" height=\"374\" srcset=\"https:\/\/taxprocenter.proconnect.intuit.com\/wp-content\/uploads\/2021\/12\/Rate-Survey-2021-5.png 1518w, https:\/\/taxprocenter.proconnect.intuit.com\/wp-content\/uploads\/2021\/12\/Rate-Survey-2021-5.png?resize=150,88 150w, https:\/\/taxprocenter.proconnect.intuit.com\/wp-content\/uploads\/2021\/12\/Rate-Survey-2021-5.png?resize=300,175 300w, https:\/\/taxprocenter.proconnect.intuit.com\/wp-content\/uploads\/2021\/12\/Rate-Survey-2021-5.png?resize=768,449 768w, https:\/\/taxprocenter.proconnect.intuit.com\/wp-content\/uploads\/2021\/12\/Rate-Survey-2021-5.png?resize=700,409 700w, https:\/\/taxprocenter.proconnect.intuit.com\/wp-content\/uploads\/2021\/12\/Rate-Survey-2021-5.png?resize=740,433 740w, https:\/\/taxprocenter.proconnect.intuit.com\/wp-content\/uploads\/2021\/12\/Rate-Survey-2021-5.png?resize=1440,842 1440w, https:\/\/taxprocenter.proconnect.intuit.com\/wp-content\/uploads\/2021\/12\/Rate-Survey-2021-5.png?resize=720,421 720w\" sizes=\"auto, (max-width: 640px) 100vw, 640px\" \/><\/p>\n<h2 class=\"heading-2\">Average hourly rates<\/h2>\n<p>It is important to note that only 48% of survey respondents were willing to provide their average hourly rate. Based on the data available, however, it appears as though we gave ourselves a raise since the <a href=\"https:\/\/author.intuit.com\/fotf\/content\/2019-intuit-rate-survey-how-are-accountants-and-bookkeepers-really-pricing-their-work\/\" target=\"_blank\" rel=\"noopener\">last survey was done in 2019<\/a>. The standard average hourly rates increased by 8.6% from $69 (2019) to $75 (2021).<\/p>\n<p>Survey data also indicates that more practitioners in 2021 (35%) are charging the same hourly rate across the board for all services. This could suggest an effort to streamline billing rates or that services are being bundled.<\/p>\n<p>We also looked at\u00a0the average\u00a0hourly\u00a0billing rates for QuickBooks-related services by both professional\u00a0designation and\u00a0ProAdvisor\u00a0certification status.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-24779\" src=\"https:\/\/taxprocenter.proconnect.intuit.com\/wp-content\/uploads\/2021\/12\/Rate-Survey-2021-6.png\" alt=\"Rate Survey 2021 6\" width=\"640\" height=\"349\" srcset=\"https:\/\/taxprocenter.proconnect.intuit.com\/wp-content\/uploads\/2021\/12\/Rate-Survey-2021-6.png 1610w, https:\/\/taxprocenter.proconnect.intuit.com\/wp-content\/uploads\/2021\/12\/Rate-Survey-2021-6.png?resize=150,82 150w, https:\/\/taxprocenter.proconnect.intuit.com\/wp-content\/uploads\/2021\/12\/Rate-Survey-2021-6.png?resize=300,164 300w, https:\/\/taxprocenter.proconnect.intuit.com\/wp-content\/uploads\/2021\/12\/Rate-Survey-2021-6.png?resize=768,419 768w, https:\/\/taxprocenter.proconnect.intuit.com\/wp-content\/uploads\/2021\/12\/Rate-Survey-2021-6.png?resize=700,382 700w, https:\/\/taxprocenter.proconnect.intuit.com\/wp-content\/uploads\/2021\/12\/Rate-Survey-2021-6.png?resize=1536,838 1536w, https:\/\/taxprocenter.proconnect.intuit.com\/wp-content\/uploads\/2021\/12\/Rate-Survey-2021-6.png?resize=740,404 740w, https:\/\/taxprocenter.proconnect.intuit.com\/wp-content\/uploads\/2021\/12\/Rate-Survey-2021-6.png?resize=1440,785 1440w, https:\/\/taxprocenter.proconnect.intuit.com\/wp-content\/uploads\/2021\/12\/Rate-Survey-2021-6.png?resize=720,393 720w\" sizes=\"auto, (max-width: 640px) 100vw, 640px\" \/><\/p>\n<p>One interesting observation from the data is that certified bookkeepers are charging:<\/p>\n<ul>\n<li>12% less for monthly accounting and bookkeeping services.<\/li>\n<li>5% less for clean up or troubleshooting.<\/li>\n<li>2% less for QuickBooks Training than bookkeepers without certifications.<\/li>\n<\/ul>\n<p>The remaining data by professional designation displays a trend of higher fees charged for all services as practitioners progress from accountant (non-CPA) to Enrolled Agent (EA) to CPA.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-24780\" src=\"https:\/\/taxprocenter.proconnect.intuit.com\/wp-content\/uploads\/2021\/12\/Rate-Survey-2021-7.png\" alt=\"Rate Survey 2021 7\" width=\"640\" height=\"369\" srcset=\"https:\/\/taxprocenter.proconnect.intuit.com\/wp-content\/uploads\/2021\/12\/Rate-Survey-2021-7.png 1522w, https:\/\/taxprocenter.proconnect.intuit.com\/wp-content\/uploads\/2021\/12\/Rate-Survey-2021-7.png?resize=150,87 150w, https:\/\/taxprocenter.proconnect.intuit.com\/wp-content\/uploads\/2021\/12\/Rate-Survey-2021-7.png?resize=300,173 300w, https:\/\/taxprocenter.proconnect.intuit.com\/wp-content\/uploads\/2021\/12\/Rate-Survey-2021-7.png?resize=768,443 768w, https:\/\/taxprocenter.proconnect.intuit.com\/wp-content\/uploads\/2021\/12\/Rate-Survey-2021-7.png?resize=700,404 700w, https:\/\/taxprocenter.proconnect.intuit.com\/wp-content\/uploads\/2021\/12\/Rate-Survey-2021-7.png?resize=740,427 740w, https:\/\/taxprocenter.proconnect.intuit.com\/wp-content\/uploads\/2021\/12\/Rate-Survey-2021-7.png?resize=1440,831 1440w, https:\/\/taxprocenter.proconnect.intuit.com\/wp-content\/uploads\/2021\/12\/Rate-Survey-2021-7.png?resize=720,415 720w\" sizes=\"auto, (max-width: 640px) 100vw, 640px\" \/><\/p>\n<p>The average hourly rates\u00a0reported clearly show that\u00a0the more you invest in ProAdvisor certification, the higher the fee you\u00a0can command\u00a0for services. The higher the ProAdvisor certification, the higher the average hourly billing rate reported.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-24781\" src=\"https:\/\/taxprocenter.proconnect.intuit.com\/wp-content\/uploads\/2021\/12\/Rate-Survey-2021-8.png\" alt=\"Rate Survey 2021 8\" width=\"640\" height=\"376\" srcset=\"https:\/\/taxprocenter.proconnect.intuit.com\/wp-content\/uploads\/2021\/12\/Rate-Survey-2021-8.png 1514w, https:\/\/taxprocenter.proconnect.intuit.com\/wp-content\/uploads\/2021\/12\/Rate-Survey-2021-8.png?resize=150,88 150w, https:\/\/taxprocenter.proconnect.intuit.com\/wp-content\/uploads\/2021\/12\/Rate-Survey-2021-8.png?resize=300,176 300w, https:\/\/taxprocenter.proconnect.intuit.com\/wp-content\/uploads\/2021\/12\/Rate-Survey-2021-8.png?resize=768,451 768w, https:\/\/taxprocenter.proconnect.intuit.com\/wp-content\/uploads\/2021\/12\/Rate-Survey-2021-8.png?resize=700,411 700w, https:\/\/taxprocenter.proconnect.intuit.com\/wp-content\/uploads\/2021\/12\/Rate-Survey-2021-8.png?resize=740,435 740w, https:\/\/taxprocenter.proconnect.intuit.com\/wp-content\/uploads\/2021\/12\/Rate-Survey-2021-8.png?resize=1440,846 1440w, https:\/\/taxprocenter.proconnect.intuit.com\/wp-content\/uploads\/2021\/12\/Rate-Survey-2021-8.png?resize=720,423 720w\" sizes=\"auto, (max-width: 640px) 100vw, 640px\" \/><\/p>\n<p>In fact,\u00a0the average hourly rate\u00a0increase for\u00a0four specific QuickBooks-related services\u00a0showed an average increase\u00a0of 34%\u00a0upon achieving Core Certification, and another average increase of 13% upon achieving Advanced Certification status.\u00a0<strong>The big takeaway here is to get your certifications!<\/strong> If you\u2019ve haven\u2019t signed up for the\u00a0QuickBooks ProAdvisor program\u00a0or gotten certified yet, you can start your journey to certification today.<\/p>\n<p>As we approach the new year, it is a wonderful time to take stock of your practice. What did you do well? Where can you improve? What goals do you have for 2022? If you earned a new certification this year or began offering a service that brings added value to your clients. Consider\u00a0raising\u00a0your billing rates accordingly.\u00a0You may also want to consider exploring other pricing options that can help to boost your profitability.<\/p>\n<p>Overall, how do your rates compare to the survey data? Be sure to check out more upcoming articles about the survey that will include specific COVID-related data and how we serviced our clients during this unprecedented time. Also find out how your peers are marketing their services and what they plan to focus on in the upcoming year!<\/p>\n<p><strong>Editor&#8217;s note:<\/strong> This article was originally published on <a href=\"https:\/\/www.firmofthefuture.com\/content\/2021-intuit-rate-survey\/\"title=\"\"  target=\"_blank\" rel=\"false noopener\" target=\"_blank\">Firm of the Future<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Get the results of the biannual Intuit rate survey and find out what your peers are charging for their services.<\/p>\n","protected":false},"author":125122437,"featured_media":24784,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rkv_browse_by_id":0,"rkv_cta_id":0,"rkv_optimize_for_pagespeed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"useModifiedDate":false,"customPublishDate":"","_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"_wpas_customize_per_network":false},"categories":[116807],"tags":[],"intuit_collection":[],"intuit_series":[],"coauthors":[582953238],"class_list":["post-24771","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-practice-management"],"header_image":"","yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.3 (Yoast SEO v27.3) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>The results of the new Intuit Rate Survey are in! 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