Outsourced accounting services: what a firm handles, what it costs, and how to choose one
Short answer: Outsourced accounting services means an outside firm runs some or all of your finance function: bookkeeping, payroll support, the monthly close, financial statements, and often controller or CFO work. You pay a monthly fee for a defined scope instead of hiring and managing an in-house team. It tends to fit companies that have outgrown do-it-yourself books but are not ready for, or do not need, a full in-house finance department.
Outsourced accounting firms usually price by scope: how many accounts and transactions you have, how many entities, whether you need payroll, and how much senior review (controller or CFO) you want. Use the outsourced accounting cost calculator to compare that monthly fee with what the same work costs in-house.
What does an outsourced accounting firm do?
Finance and accounting outsourcing covers the recurring work that keeps your books accurate and your reporting on time. A typical engagement includes:
- Transaction processing: categorizing bank and card activity, bills (accounts payable), invoices and collections (accounts receivable), and expense reports.
- Reconciliations: matching bank, card, loan, and payroll accounts to statements every month.
- The monthly close: accruals, prepaid and deferred items, depreciation, and review so the numbers are final by a set day.
- Financial statements: a profit and loss statement, balance sheet, and cash flow statement, often with a short management summary.
- Payroll coordination: running payroll or reconciling the payroll provider to the books.
- Senior oversight: controller-level review, internal controls, and audit or lender readiness; at the top end, fractional CFO work such as forecasting, budgets, and board reporting.
Many firms also handle business tax returns, either in-house or with a partner CPA. Ask whether tax is in the monthly fee or billed separately.
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Bookkeeping, controller, or CFO: which level do you need?
Outsourced accounting is not one service. Firms usually stack three levels, and the right one depends on the questions you need answered.
| Level | What it answers | Usually fits when |
|---|---|---|
| Outsourced bookkeeping | Are the transactions recorded and reconciled? | The owner or an office manager is doing the books and falling behind |
| Outsourced controller | Are the financial statements right, on time, and controlled? | The books exist, but the close is slow or nobody fully trusts the numbers |
| Outsourced CFO | What should we do next, and can we afford it? | Hiring, pricing, fundraising, or lender decisions need a forecast |
Accounting firms that package these levels for business clients often call it client accounting services (CAS). The label matters less than a written scope that says who does what each month.
How much do outsourced accounting services cost?
There is no standard price list. Firms quote a monthly fee based on scope, and the same company can get very different quotes depending on what is included. The factors that move price the most:
- Monthly transaction volume and the number of bank, card, and loan accounts
- Number of legal entities, and whether you need consolidated statements
- Accrual-basis reporting, revenue recognition, or inventory accounting
- Payroll headcount and number of states
- How much controller or CFO time is included each month
- Clean-up or catch-up work on past months, which is usually a one-time fee
The fastest way to get a real number is to describe your scope and ask two or three firms to quote the same thing. The cost calculator builds that scope summary for you.
Is it cheaper to outsource accounting than to hire?
Often, but not always. The in-house cost is more than a salary: add payroll taxes, benefits, software, recruiting, and the cost of covering vacations or turnover. A single in-house hire also covers only one skill level. An outsourced team spreads bookkeeper, controller, and CFO time across clients, so you pay for the hours of each that you use.
In-house tends to win when you need someone on site every day, when transaction volume is high enough to keep a full team busy, or when finance work is tied closely to operations. Many companies use both: an in-house staff accountant plus an outsourced controller or CFO.
How do you choose an outsourced accounting firm?
- Write down the scope first. List accounts, entities, payroll, and the reports you need each month.
- Ask who does the work. Find out who your day-to-day contact is, who reviews the close, and whether a CPA is involved.
- Ask about the close calendar. By which business day are statements delivered?
- Check industry experience. Revenue recognition for SaaS, inventory for consumer brands, and job costing for construction all need specific know-how.
- Confirm the software. Will they work in your current accounting, payroll, and bill-pay tools, or move you to theirs?
- Get the fee in writing. Know what is fixed monthly, what is hourly, and what clean-up costs.
- Check credentials. If a firm says it is a CPA firm, you can confirm individual CPA licenses with your state board of accountancy.
Browse accountants, bookkeepers, and fractional CFOs on Sam’s List, or see firms that work with companies between $500k and $5M in revenue.
Frequently asked questions
What is outsourced accounting?
Outsourced accounting is hiring an outside firm to run some or all of your accounting, such as bookkeeping, reconciliations, the monthly close, financial statements, and controller or CFO work, for a monthly fee instead of building an in-house team.
What services do outsourced accounting firms provide?
Most offer bookkeeping, accounts payable and receivable, reconciliations, the monthly close, and financial statements. Many add payroll, business tax returns, controller review, and fractional CFO work such as budgets and forecasts.
How much do outsourced accounting services cost?
Firms quote a monthly fee based on scope: transaction volume, number of accounts and entities, payroll, reporting basis, and how much controller or CFO time you need. Clean-up of past months is usually a separate one-time fee.
Is outsourced accounting the same as client accounting services (CAS)?
They overlap. CAS is the name many CPA firms use for the outsourced accounting and advisory work they do for business clients. Both describe an outside team running your accounting on a recurring basis.
When should a company outsource its accounting?
Common triggers are books that are behind, a slow or unreliable monthly close, a first lender or investor request for financial statements, or growth that needs a controller or CFO before it can justify a full-time hire.
Can I outsource only part of my accounting?
Yes. Many companies keep an in-house bookkeeper or office manager and outsource the controller review, the close, or CFO-level planning.
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