What is Outsourced Accounting? 

Photo by MIND_AND_I/iStock / Getty Images

Today’s business world is constantly changing just as much as technology. More and more small business owners are outsourcing non-income generating functions to reduce overhead and focus their attentions on growing their business. Outsourced Accounting offers small businesses a dedicated accounting department that handles the day-to-day bookkeeping, accounts payable, accounts receivable, payroll, and Financial Reporting.

How do I know if I need outsourced accounting?

  • If you are spending more time managing your books then managing the primary aspects of your business

  • If you are cutting corners to save money on bookkeeping, but you do not understand or know what you are doing.

  • You want to have the peace-of-mind that your accounting is being managed by a professional team of experienced accountants and bookkeepers that can provide financial insight on a regular basis.

How much is a service like this?

Outsourced Accounting is a fraction of the cost in contrast to in-house staff that often require salary, payroll taxes, worker’s compensation insurance, medical insurance, retirement plans, vacation days, sick days, and loads of overhead. The average median salary for an in-house bookkeeper is $42,000 per year and outsourced accounting often costs less than 50% of that. Here are some of our starting packages to give you examples of the cost.

Accounting Packages

Start-up
Growing
Established
Pro
Price:

starting at: $349/month

starting at: $449/month

starting at: $649/month

starting at: $999/month

Package Description:

This is our entry-level outsourced accounting package. It is designed for smaller operations that need to get the accounting off their plate, but they are not yet ready for a full accounting department.

This package is for business owners that are still not ready for a fully comprehensive out-sourced accounting department, but they are adding staff and need to implement payroll.

This package is for business owners that are still not ready for a fully comprehensive out-sourced accounting department, but they are adding staff and need to implement payroll.

Our Pro package is designed for businesses that are ready to bring in an outsourced account department. This means all of the day-to-day items, A/P & A/R, Payroll, the works!

BOOKKEEPING SERVICES
# of Bank/Credit accounts:

4

4

6

6

# of transactions per month:

up to 250/mo.

up to 250/mo.

up to 325/mo.

up to 325/mo.

Accounts Payable:

Accounts Payable

- Direct Email Inbox for Bills

- Bills can be paid via ACH or Check

- Managers can have a chance to "Approve" items

- Weekly Pay cycle

Accounts Payable

- Direct Email Inbox for Bills

- Bills can be paid via ACH or Check

- Managers can have a chance to "Approve" items

- Weekly Pay cycle

Accounts Receivable:

Accounts Receivable

- One-time & Recurring Customer Invoicing

- Record Customer Payments

- Collections Notifications

- Customers can pay by ACH, Check, etc.

Payroll:

Payroll for up to 5 employees/contractors

- Includes Direct Deposit

- Employee Portal

- Payroll Tax Filing

Payroll for up to 5 employees/contractors

- Includes Direct Deposit

- Employee Portal

- Payroll Tax Filing

Payroll for up to 10 employees/contractors

- Includes Direct Deposit

- Employee Portal

- Payroll Tax Filing

Bank/Credit account reconciliations:
?
Account Reconciliation is the process of posting entries in the books to match transactional data provided by the bank, categorizing the data, and verifying the books and bank balance.

Monthly

Monthly

Monthly

Weekly

Dedicated Bookkeeper:
ACCOUNTING SERVICES
Account verification and compliance:
?
We will verify your book balances against your bank statements to ensure your balances are 100% accurate. Also, we review all transactions to ensure they are categorized to the appropriate general ledger accounts.

Monthly

Monthly

Monthly

Monthly

Financial Reporting:

Monthly - Basic Reporting

?
Basic Reporting includes an Income Statement & Balance Sheet only

Monthly - Basic Reporting

?
Basic Reporting includes an Income Statement & Balance Sheet only

Monthly - Management Reporting

?
Management Reporting includes an Executive Summary outlining any noticeable financial trends or insights, Cash Summary, Income Statement, Balance Sheet, A/R Aging, and A/P Aging.

Monthly - Management Reporting

?
Management Reporting includes an Executive Summary outlining any noticeable financial trends or insights, Cash Summary, Income Statement, Balance Sheet, A/R Aging, and A/P Aging.
Dedicated Accountant:
Client Advisory Meeting

Quarterly

Quarterly

Monthly

Monthly

Apps Included:

 

 

 

Tax Services

Can be added on for an additional fee

Can be added on for an additional fee

Can be added on for an additional fee

Tax Package

- Business Tax Return

- Personal Tax Return

- State Tax Return

- Tax Planning