As you browse our website and learn more about our pricing, you may find yourself wondering, “What on earth is an accounting complexity?”
Well, there’s a lot that goes into pricing a monthly accounting service, so we had to establish a system. A big part of this system involves applying a blanket term (complexities) to certain business scenarios. We’re about to tell you all about them!
At CSI Accounting & Payroll, we’ve worked with small business accounting for nearly 60 years. That means we’ve established a pricing system with complexities – and gotten a lot of questions about it, including:
Our pricing for monthly accounting has two main factors: your accounting activity and complexities. As each one increases, so does the cost of the service. This is because more time and effort is required from our team.
Your accounting activity refers to the amount of activity that exists in your business bank accounts and business credit cards, which largely determines how much bookkeeping you will require.
As mentioned in the introduction, “complexity” is a blanket term that refers to a variety of situations. We’re going to talk about specific examples of complexities in the next section, but for now, you just need to know that the term represents additional work or potential hurdles in processing your statements each month.
Now let’s get into specific accounting complexities. They include:
If you have multiple business locations and want each location to have its own monthly Profit & Loss Statement, then it’s twice as much work for our accountants to create those statements each month.
You may also want your expenses separated by location, which is an additional task for our accountants.
If you have an additional location and it’s in another state, there may be an additional tax return required.
This means there is accounts payable (A/P), accounts receivable (A/R), and/or inventory on your Balance Sheet, requiring additional accounting adjustments.
We still welcome the gas station industry because we have a lot of value to offer them, but they also require much more complex accounting.
If you have sales tax requirements, it needs to be filed with the State on a monthly or quarterly basis. This increases the complexity of what our accountants do by having them calculate the tax and work through the filing process.
Having payroll with a different provider means our accountants have to go through the extra work of retrieving that data for your books each month. (If you don’t have payroll, then none of this would apply.)
On the other hand, if you bundle accounting and payroll with us, you can save an average of $105 per month! That’s a pretty good deal, and it saves our accountants a lot of effort since the data is under their roof.
To give you an accurate proposal, we’ll need your last few months of bank statements for all business bank accounts and credit cards used for business expenses. This helps us confirm the accounting activity and accounts involved, since more accounts means more for your accountant to monitor and reconcile.
Our average accounting fee comes out to approximately $675 per month. However, depending on your activity and complexities, your fee can range from $500 to $1,000+ per month. This investment includes:
With the factors above in mind, you may wonder what your fee would be. Luckily, you can get an estimated fee by answering a series of questions about your business via our new pricing calculator!
Now that you know how we price our monthly accounting service, what complexities are, and how to get your pricing estimate for our service, are you ready to chat?
To see 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! First, learn more about what it’s like to work with CSI by clicking the image below: