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small business taxes /
small business payroll /
small business accounting

3 Services Your Business Needs to Thrive

May 24th, 2023 | 6 min. read

By Brian Paulson

Starting your own business is exciting. You’re your own boss, you get to do what you love, and you’re building something unique. However, you’re also working 16-hour days trying to keep all your bases covered. New business owners often start out trying to DIY as much as possible, which can be a good move... for a while.

The tough reality? Most new businesses fail in their first 18 months. To keep your company from going under when you’re just starting out, you’re going to need strong allies in your corner. Once you're rolling, it's time to outsource some of the essentials.

At CSI Accounting & Payroll, we've worked with thousands of small business owners for over 50 years. In all of that time, we've seen trends in what makes new businesses successful - and what makes them fail.

We try to stick to the facts, but it might sound biased coming from us that these three services can help you be more efficient and successful: professional accounting, payroll, and tax preparation.  


Three Essential Small Business Services

Service #1. Monthly Accounting

Monthly accounting? Isn't that the same thing as bookkeeping? Definitely not! Monthly accounting is a step up - a version of accounting that produces value instead of just sorting numbers. It combines the following, all included in your set monthly fee:

  • Monthly meetings
  • Monthly bookkeeping, financial statements, and account reconciliation
  • Unlimited one-off advice via meetings, phone calls, emails, or texts
  • Year-round tax strategy to minimize what you owe, including projections
  • Annual tax preparation and filing

If you’re not receiving an accurate Profit & Loss Statement and Balance Sheet every month, you should be. Reconciling your accounts monthly and keeping your records up to date saves you financial headaches later on, and fully understanding your cash flow can show you ways to improve profitability.

A monthly accounting service provider can do all of this, plus provide you with expert financial advice in real-time. They don’t just do your taxes at the end of the year; they work closely with you to achieve your financial goals throughout the year.

Monthly accounting might not be ideal for some brand new startups, but once your business is ready to get the right amount of value out of it, it's a great investment.

Service #2. Payroll

Outsourcing your payroll comes with numerous benefits. Here are just a few of the values it offers you:

  • More free time to advance your business

  • Less hassle dealing with tedious, complicated payroll software

  • Security knowing your payroll process is handled externally, not by an employee who may quit and leave your business hanging

  • Reduced costs by working with an external payroll professional

  • Zero risk of IRS penalties for filing incorrectly - payroll services are guaranteed

Outsourcing your payroll simplifies life, making it one service your business shouldn’t be without. This is why it's one of the most commonly outsourced business services. So how do you decide which payroll service is best for your business? First, learn the differences between national and local payroll providers.

Service #3. Tax Preparation and Planning

Taxes are stressful and difficult, but a tax professional lifts the burden from your shoulders. By working with an expert to plan for your taxes throughout the year, you’ll save yourself a tax day headache and minimize the amount you owe. Many small businesses start by outsourcing to an annual tax accountant or even try to do it themselves with software.

Tip: use the same outsourced firm for both your tax preparation and your accounting. Keeping your financials and tax planning under the same roof will streamline your operations and save you time. Not only that, but monthly accounting services include the cost of tax work in your set monthly fee.

Bundle Monthly Accounting, Payroll, & Taxes Under One Roof

The right partners make all the difference for your company. By building relationships with trusted consultants who understand your business needs, you improve your efficiency and your chances of long-term success.

Did you know that bundling these financial services under the same provider is extremely beneficial? Luckily, CSI Accounting & Payroll offers all three - conveniently located under one roof for any and all occasions when there's information overlap.

If you want to find out if we can be a good fit for your business, click the button below for a free consultation:

Not ready to talk? That's okay! If you want to begin your journey by doing your own accounting, here's a helpful kit to get you started:

Brian Paulson

Brian began working at CSI in 1996, and he purchased the business in 2002. As Owner, his primary role is in the management and growth of the firm. Since 2002, the firm has more than quadrupled in size. In 2009, Brian started CSI’s payroll service to complement CSI’s accounting and tax services. Brian received his Bachelor’s degree from the University of North Dakota, with a double major in Accounting and Financial Management. He’s a member of both the National Society for Tax Professionals and the National Society for Accountants, and he serves on the board of directors for the Professional Association of Small Business Accountants, where he was once president. Brian also serves on the business advisory council for Opportunity Partners, an organization that helps people with disabilities find employment. He’s also contributed to several business books, including Six Steps to Small Business Success and The Lean Mean Business Machine. Fun Fact: To help put himself through college, he used student loans, delivered pizzas, and worked summers in a salmon processing plant in Alaska.