You’re hands-on. You want to play a part in every aspect of running your business, including some things that are out of your comfort zone – like accounting. It's hard enough to consider outsourcing accounting, but it can be even harder to find detailed pricing information.
So, what does CSI Accounting & Payroll's monthly accounting service cost? The answer varies by your business's needs, but we’ll break down our pricing structure by answering:
- What is the average cost of CSI's monthly accounting service? What is the range?
- What factors influence the cost?
- Is there anything I can do to keep my fee low?
Average Cost of Our Monthly Accounting Service
When we price our monthly accounting service, we consider your company’s accounting activity and the complexity of your accounting needs. (We'll talk more about them in the next section.) Depending on these factors, your fee can range from $600 to $1,000+ per month.
Let’s say you’re our average client. You would either have complex accounting needs with roughly 50 business transactions each month, or you wouldn’t have any complexities and have just under 100 business transactions each month. That means your fee would land at about $750 per month.
Keep in mind, your fixed monthly investment includes:
- Monthly profit and loss statements
- Monthly balance sheets
- Monthly bank reconciliation
- Business tax work
- Sales tax filings
- Audit representation
- Unlimited one-off questions
It is set upon coming on board and is audited every six months, as your accounting activity volume and other variables can change.
What Factors Influence Monthly Accounting Rates?
Number of Monthly Business Transactions
One of the largest factors in determining your investment is the number of business transactions (expenses) you make per month. The more you have, the more time our accountants spend on your books and statements each month. You can expect to pay about $35 for every 10 transactions.
Complexities in Accounting Services
Complexities are the other large factor in determining your monthly investment. They represent hurdles in processing your books and statements each month. Some common complexities include having multiple business locations, sales tax management needs, and multiple bank accounts.
- Multiple business locations. If you want each location to have its own monthly P&L or separated expenses, that's extra work to for our accountants each month. Plus, if you're in another state, there may be an additional required tax return.
- Sales tax management. Sales tax needs to be filed with the State on a monthly or quarterly basis. We calculate the tax and work through the filing process for our clients.
- Multiple bank accounts. When we’re making your custom quote, we need your last two months of bank statements for all business credit and debit cards. This helps us confirm the number of monthly transactions and bank accounts. Having multiple accounts requires our accountants to monitor more accounts and reconcile more transactions.
Keep Your Fee Lower Without Compromising
When it comes to accounting investments, you get what you pay for. Before discarding a high-quality service for a low-quality one, consider what you can do to minimize your fees with the high-quality service first.
At CSI Accounting & Payroll, businesses with only one bank account and one credit card pay the lowest fees. Debt and loans are fine to have, but it’s always best to consolidate them. Essentially, if you keep things simple, then you can keep your investment lower. Not sure how? Just ask us!
Not only that, but clients who bundle both accounting and payroll might be able to get a fee reduction. For instance, those who bundle get a discount of $105 per month at the time that this article was posted. (Do you know about the benefits of having your accounting and payroll handled under one roof?)
Get a Monthly Accounting Quote From CSI!
Now you know our average monthly accounting fee and range, the factors that influence the cost, and how you can keep your fee minimized, are you ready to see if we can be a good match? Let's chat!
Note: We try to keep this current, but any costs referenced here are subject to change. For a custom quote, please schedule a call:
Not ready to talk? No problem! You can estimate your own monthly cost first before talking to a consultant, but only a consultant can give an accurate quote! Try our calculator below:
