Overview: Accountants
An accountant turns a year of receipts, invoices and bank lines into something you can file and something you can steer by. For a small business that means periodic figures during the year, financial statements at year end, and a return that ties back to them. For someone with rental property or a side business, it is the same discipline on a smaller scale.
Practices differ in what they do without being asked. Some prepare the statements and stop there. Others call you before year end to talk about equipment purchases, how the owner is paid, and what the margins are telling you. Ask how often you will actually speak, who does the work behind the partner's name, and whether you are paying a fixed monthly amount or a bill as jobs arrive.
The first meeting goes faster with last year's statements and return, access to your books, bank and loan statements, payroll summaries, and a list of what changed: a new state, a new partner, a new line of business. If the books are behind, say so early. Nothing moves a quote further.
Each listing reflects what a firm publishes about the industries it serves and the software it works in. The state and city lists lead to firms near you, and each city page shows which are based there and how clients describe working with them.
What do accounting services cost?
Choose the job first: annual taxes, regular books, one-off advice or a required financial report. Each has a different fee basis. A monthly bookkeeping quote does not automatically cover your tax return or an audit.
| Service or situation | Estimated cost or fee basis | Scope and conditions |
|---|---|---|
| Basic monthly bookkeeping | Starting fees: $300–$650/month and up | Transaction categorization, bank/card reconciliation and monthly reports for a small business. Customer invoicing and bill payment are separate. |
| Individual federal tax return | Starting fees: $200–$800/return and up | Preparation of an individual return. State filings, business or rental schedules and investment complexity can increase the fee. |
| CPA tax planning or accounting advice | $300–$350/hour | Advice on a defined issue, such as estimated taxes or a business decision. Ask for expected hours and any minimum booking. |
| Catch-up or cleanup of existing books | Quote after a file review | Fix old entries or reconstruct missing months. Ask for the total for the entire backlog, named accounts and closing reports. |
| Financial statements for a lender or investor | Quote for the required report | Specify compilation, review or audit, the entity and reporting period. Ordinary bookkeeping reports do not substitute for a required assurance engagement. |
What changes the cost
- Records, transaction volume and number of entities
- Tax forms, states and required reporting level
Other costs to budget for
- Software, payroll and sales-tax filings
- Initial cleanup and additional years or entities
Ask before hiring
Which returns and reports will I receive, on what dates, and what work could increase the quoted total?
Ask whether you need bookkeeping, tax preparation or an assurance report before comparing prices.
Frequently asked questions
What does a general accounting firm handle?
Year-end financial statements, business and personal returns, sales tax filings where they apply, payroll reporting, and the periodic figures that tell you how the year is going. Many also advise on entity choice and owner compensation. Audits, formal assurance reports and specialist tax disputes usually go elsewhere, and a straight answer about that is a good sign.
Do I need figures during the year or only at year end?
Year-end statements satisfy the filing. Figures during the year are what let you act while acting still helps: pricing, hiring, a tax bill you can see coming. If your business carries inventory, employs people or borrows, monthly or quarterly numbers usually earn their fee. A quiet sole proprietorship often does not need them.
How are accounting fees usually set?
Either a fixed monthly amount covering an agreed list of work, or a bill per engagement with extras charged as they come up. The state of your records drives the number more than anything else. Ask what is inside the fee, what counts as extra, whether a phone call is billable, and get the list in the engagement letter.
What should I bring to a first accounting meeting?
Last year's statements and filed return, login access or a copy of your books, bank and credit card statements, loan agreements, payroll summaries, and any notices you have received. Add a short list of what changed this year. A firm that can see the previous year can quote properly instead of guessing.
How do I move to a different accounting firm?
You engage the new firm, and it writes to the old one for the working papers and prior filings. You are entitled to your own records. Timing matters: moving in the middle of a filing cycle costs more because two firms touch the same year. Settle any outstanding invoice, since unpaid bills can slow the handover.
