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small business accounting

Best Accounting Services For Small Business Minneapolis

August 11th, 2022 | 9 min. read

By Brian Paulson

You own a small business in the Twin Cities area, and you’ve been swamped trying to handle your accounting in-house - or you’ve gone through the same experience that so many others have with online accounting services

What’s the logical next step? Find a reputable, local accounting service to help you get back on your feet.

While CSI Accounting & Payroll works with small businesses across the continental United States, we haven’t forgotten the good folks at home in the Twin Cities area. We also understand that you will want to consider all of your options. We actually encourage it! We know that we’re not the right fit for everyone. The following firms offer a range of prices and service levels, and it’s important to do your research to find the best fit for you.

Prospective clients will often ask us who our competitors are so they can do their research, and that’s why we’ve compiled this list of the top six small business accounting firms in the Twin Cities area. To remain neutral, CSI Accounting & Payroll is excluded from this list. Keep reading to learn more about the following firms:

  • John A. Knutson & Co., PLLP
  • Myslajek Kemp & Spencer, Ltd.
  • OWL Bookkeeping & CFO Services
  • Siddiqui & Basnet LLC
  • Sundberg Tax & Consulting
  • Vetscher & Associates, LLC

Team of accountants having a meeting

John A. Knutson & Co.

John A. Knutson & Co. was founded in 1925 with a location in Falcon Heights. They serve clients of all sizes, with a specialty in the construction, retail, wholesale, service, real estate, and manufacturing industries.

They offer:

  • Accounting services, including:
    • Sales tax reporting
    • Accounts payable and receivable processing
    • Bank statement reconciliation
    • Financial statement processing
    • Budgeting and forecasting
    • Cash flow analysis
    • QuickBooks assistance from a certified ProAdvisor
    • Sage 50 and other software assistance
  • Audit and assurance services
  • Estate and trust services
  • Tax consulting
  • Consulting
  • Technology solutions

Myslajek Kemp & Spencer

Myslajek Kemp & Spencer was founded in 1992 with a local location in St. Louis Park. They serve both businesses and individuals.

They offer:

  • Accounting services, including:
    • Bookkeeping services
    • QuickBooks set-up and training
  • Tax services
  • Audit, review, compilation, and attestation services
  • The R&D tax credit
  • Succession solution services
  • Technology consulting

OWL Bookkeeping & CFO Services

OWL Bookkeeping & CFO Services was founded in 2005 with a location in Minneapolis. They serve small and medium-sized businesses remotely across the United States.

They offer the following, which include many specialized services:

  • Accounting services
  • Bookkeeping services
  • CFO services

Siddiqui & Basnet LLC

Siddiqui & Basnet LLC was founded in 1994 and has a location nearby in St. Paul. They serve both individuals and businesses, including nonprofits.

While this firm also provides payroll services, we kept them on this list for their extensive accounting services. For businesses, they offer:

  • Small business accounting (monthly or quarterly), including:
    • Reconciling your bank account
    • Generating an income statement and balance sheet
    • Cleaning up your general ledger
    • Providing unlimited consultations
  • Part-time CFO services
  • Audit service
  • Forensic accounting
  • Cash flow management
  • Bank financing
  • Business valuations
  • Strategic business planning
  • Succession planning
  • New business formation
  • Internal controls
  • Tax preparation, planning, and resolving tax problems

Sundberg Tax & Consulting

Sundberg Tax & Consulting has several local locations in St. Paul, downtown and North Loop Minneapolis, Bloomington, Minnetonka, St. Louis Park, and Edina. They focus on serving small business owners.

While this firm also provides payroll services, we kept them on this list for their extensive bookkeeping and tax services. For businesses, they offer:

  • Business tax preparation and planning
  • Other tax services
  • Bookkeeping services
  • Sales & use tax services
  • Accounting System Implementation Services
  • CFO services

Vetscher & Associates, LLC

Vetscher & Associates, LLC was founded in 1975 with a location nearby in St. Paul. They specialize in individual and small business tax preparation.

While this firm also provides payroll services, we kept them on this list for their extensive accounting services. They offer:

  • Accounting services, including:
    • General ledger and financial statement preparation
    • Bookkeeping (monthly, quarterly, or annual)
    • Accounting system setup and support
    • Payroll processing
    • Cash flow budgeting and forecasting
    • Personal financial statements
    • Employee benefit and profit-sharing plans
    • Corporate tax planning and return preparation
    • Litigation support
  • Tax management services
  • Estate and trust planning and tax preparation
  • QuickBooks accounting help
  • Entity selection and restructuring
  • Cash flow and budgeting analysis
  • Business valuations
  • Debt and finance advising
  • Litigation support and forensic accounting
  • Bookkeeping/write-up
  • IRS representation
  • Employee benefits, pension, and profit-sharing plans
  • Financial projections and forecasts
  • Mergers, acquisitions, and sales

Find the Best Accounting Service For You

As a Twin Cities small business owner, you want to consider all of your options for local accounting firms. We know you’re going to do your research whether we help you or not - so why not? 

If another firm is a better fit for you, then you should be working with them. Here’s a list of characteristics to look for when picking a new firm.

As we mentioned before, we deliberately left ourselves off of this list to make space for you to review these other six small business accounting firms in the Twin Cities area. If you haven’t made a decision yet, you can still learn more about CSI Accounting & Payroll by clicking the button below to schedule a free, no-commitment consultation. 

Not ready to have a conversation yet? Make sure you know if you’re a good fit to work with CSI Accounting & Payroll first!

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.