Top 5 Outsourced Accounting Firms for CPAs
Key Highlights
- Find the best outsourced accounting firms that help CPAs manage their work better.
- Learn about the advantages of outsourcing, like special skills and modern technology.
- Get tips on how to choose the right outsourcing partner for your firm’s needs.
- Discover the savings and flexibility that come with outsourced accounting solutions.
- Discuss common worries and recognize the risks that come with outsourcing accounting services.
Introduction
Hey! Let’s talk about how CPAs are changing things up in 2024. The financial world is always changing, right? So, CPAs are looking for smart ways to do better work and help their clients more. That’s where outsourced accounting comes in – it’s been a real game-changer!
Outsourcing, lets CPAs do more stuff, spend less money, and focus on what really matters: giving their clients awesome service. Pretty cool, huh? In this blog, we’re gonna check out the top 5 outsourced accounting firms that are helping CPAs deal with all the crazy stuff in finance these days and grow their businesses.
Exploring the Top 5 Outsourced Accounting Firms for CPAs in 2024
So, why should CPAs team up with these outsourced firms? Well, it’s like having a super-smart friend who’s great at math! These firms can do all sorts of things like bookkeeping, taxes, audit support services, and even give advice like a CFO. They’re flexible too – they can change their services to fit what each CPA needs.
We’re gonna look at the top 5 firms for 2024. This info will help CPAs figure out which one’s the best fit for them. Each firm has its own special skills and cool tech, so CPAs can find the perfect partner to make their business better and more successful.
It’s like picking the right teammate for a school project – you want someone who’s good at the stuff you need help with, right? Same idea here! Let’s dive in and see what these top firms have to offer!
Outsourced Accounting Firms
- Globus Finanza
- Bench Accounting
- CliftonLarsonAllen Accounting
- Mossadams
- Indinero
1. Globus Finanza: Outsourced Accounting firms for CPAs
Globus Finanza is a top provider of professional services. They offer a full range of accounting solutions designed for the unique needs of CPAs. With offices around the world and a skilled team, Globus Finanza provides great financial management support. This helps CPAs focus on their main skills and give excellent service to their clients.
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Their experienced accountants and financial experts know the best practices in the industry. This ensures accuracy, compliance, security, and helpful financial insights.
Globus Finanza supports you with any accounting function, such as bookkeeping, tax compliance, and financial reporting. They work seamlessly with your team to provide reliable, scalable, and cost-effective accounting solutions.
| Service Category | Services Offered | Estimated Pricing (Monthly) |
| Bookkeeping | Financial transactions recording, general ledger maintenance, cash flow management, account reconciliation | Starts at $200 (based on transaction volume) |
| Payroll Management | Payroll processing, tax filings, employee payments, compliance with federal and state regulations | Starts at $100 (based on employee count) |
| Tax Services | Tax return preparation (Individual, Partnership, LLC, Corporation, Public Charity & Private Foundation), tax planning | Varies (based on complexity) (Pay per return or Hourly basis) |
| Financial Reporting | Periodic financial statement preparation, profit and loss, balance sheet, customized reporting | Starts at $300 (based on reporting frequency) |
| Accounts Receivables Management | Invoicing, collections management, credit analysis | Custom pricing (based on receivables volume) |
| Accounts Payables Management | Vendor payments, bill processing, expense tracking | Starts at $150 (based on volume) |
| Audit Services | Audit, support services, review, compilation, audit preparation | Custom pricing (based on audit scope) |
| Advisory Services | Virtual CFO, business valuation, financial modeling, cost analysis | Custom pricing (based on complexity) |
Globus Finanza’s Features
- Advanced financial analytics with industry-specific insights and KPI tracking.
- Flexible service schedules: daily, weekly, or monthly with real-time adjustments.
- Seamless integration with all major financial software and custom ERP systems.
- Global team of experts available 24/7, with specialized industry knowledge.
- Comprehensive services: bookkeeping, tax, CFO advisory, and Audit support service.
- Cutting-edge cybersecurity to protect financial data and ISO Certified company.
- User-friendly client portal connected through remote desktop.
- Continuous learning through webinars, training, and resource library access.
- Specialized in QuickBooks, Xero, NetSuite, and all major accounting platforms.
- Customizable service packages to fit unique business needs.
- 120% money-back guarantee and innovative pricing options.
2. Bench Accounting: Personalized Service for Every CPA
Bench Accounting changes the game for outsourced accounting by giving a personal touch. They provide CPAs with dedicated accounting teams and custom technology tools. This helps to make workflows smoother and improve efficiency.
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Besides the main accounting services, Bench Accounting also offers helpful advisory services. They assist CPAs with financial planning, growth strategies, and improving business processes.
Their focus on a smooth client experience, strong technology, and personalized help has made Bench Accounting a trusted partner. CPAs looking to boost their practice and grow sustainably can count on their support.
| Service Category | Services Offered | Estimated Pricing (Monthly) |
| Bookkeeping | Monthly bookkeeping, financial statements (P&L, balance sheet), income statement, tax-ready financials | Starts at $300 (based on transaction volume) |
| Payroll Management | Includes all Essential Plan services + unlimited tax advisory, tax filing, and one-on-one support with tax experts | Starts at $200 (based on employee count) |
| Tax Services | Specialized plan for businesses behind on bookkeeping; includes organizing past financials, filing historical taxes | Varies (based on complexity) |
| Financial Reporting | Payroll integration, invoicing integration, financial insights dashboard | Starts at $400 (based on reporting frequency) |
Bench Accounting’s Features
- Detailed financial reports, including profit and loss statements.
- Catch-up bookkeeping for previous months.
- Year-end tax filing assistance.
- Cash-basis bookkeeping as standard.
- Real-time financial data tracking.
3. CliftonLarsonAllen: Accounting Support for CPAs
CliftonLarsonAllen makes accounting easier for CPAs. It offers a full range of services that help with tax compliance, connects with accounting software, and provides accurate financial reporting.
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They use technology to automate tasks. This helps improve accuracy and makes things clear for CPAs. This way, professionals can handle their work better and give clients timely, reliable financial insights.
CliftonLarsonAllen has a team of skilled accountants. They offer personalized support to help CPAs with complex accounting processes and ensure they follow industry standards.
| Service Category | Services Offered | Estimated Pricing (Monthly) |
| Outsourcing Services | Outsourced CFO, controller services, accounting, finance transformation, accounts payable/receivable | Custom pricing based on services |
| Audit & Assurance | Financial statement audits, reviews, compilations, employee benefit plan audits, internal audits | Varies (based on scope and business size) |
| Tax Services | Tax planning, tax return preparation, tax compliance, R&D tax credits, state & local tax, international tax | Varies (complexity and size) |
| Advisory Services | Mergers & acquisitions, business valuations, transaction advisory, cybersecurity, IT consulting | Custom based on project and services |
| Wealth Advisory | Investment planning, retirement planning, estate planning, risk management | Varies (based on portfolio size) |
| Industry-Specific Services | Specialization in industries like healthcare, real estate, manufacturing, construction, nonprofits, etc. | Tailored pricing for each industry |
CliftonLarsonAllen’s Features
- Outsource part-time or full-time professionals, including staff accountants, controllers, and consulting CFOs.
- Staff accountant services cover accounts receivable/payable (AR/AP), reconciliations, payroll, HR, monthly closings, and sales tax compliance.
- Controller-level services provide back-office support for accounting software selection, financial forecasting, tax management, and financial statement preparation.
- Partner with industry-specific experts who understand your unique business requirements.
- Receive on-site or remote assistance tailored to your business’s location.
4. Mossadams: Comprehensive Support for CPAs
Mossadams helps CPAs by offering complete support for their accounting department. This includes preparing and analyzing financial statements, providing CFO services, and helping with strategic financial planning.
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Their skilled team works as part of your firm. This means you can avoid busywork and concentrate on important client work.
With Mossadams, CPAs can tap into lots of knowledge and experience. This helps them improve their financial operations, make smart business decisions, and reach their growth goals.
| Service Category | Services Offered | Estimated Pricing (Monthly) |
| Audit & Assurance | Financial statement audits, reviews, compilations, employee benefit plan audits | Varies based on scope |
| Tax Services | Corporate tax planning, compliance, state & local tax, international tax, R&D credits | Varies based on client size |
| Consulting Services | Business consulting, IT consulting, transaction services, cybersecurity | Custom based on project |
| Wealth Management | Investment advisory, estate planning, retirement planning | Varies based on portfolio size |
| Risk Management | Internal audit, fraud prevention, regulatory compliance | Varies based on engagement |
Mossadams’s Features
- Tailor your engagement plan to only pay for the specific services you require.
- Collaborate with a dedicated team, including a staff accountant, manager, controller, and CFO.
- Reconciliation, AP and AR, tax, payroll, audit, and financial planning services.
- All accountants are experts in U.S. accounting standards.
- Highly flexible plans that can be adjusted as frequently as on a monthly basis.
5. Indinero: Flexible Accounting Expertise for CPAs
Indinero is a great option for businesses looking for outsourced accounting services. They use cloud-based accounting and tax software to provide a wide range of financial management services to business owners. With Indinero, you get everything from bookkeeping to accounting, tax, and even outsourced CFO services all in one plan.
You can start with the basics included in your membership and then customize the level of assistance you need as your business grows and changes. It’s a flexible option that can adapt to your evolving needs.
| Service Category | Services Offered | Estimated Pricing (Monthly) |
| Bookkeeping | Financial transactions recording, general ledger maintenance, cash flow management, account reconciliation | Starts at $300 (based on transaction volume) |
| Payroll Management | Payroll processing, tax filings, employee payments, compliance with federal and state regulations | Starts at $200 (based on employee count) |
| Tax Services | Tax return preparation (Individual, Partnership, LLC, Corporation, Public Charity & Private Foundation), tax planning | Varies (based on complexity) |
| Financial Reporting | Periodic financial statement preparation, profit and loss, balance sheet, customized reporting | Starts at $400 (based on reporting frequency) |
| Accounts Receivables Management | Invoicing, collections management, credit analysis | Custom pricing (based on receivables volume) |
| Accounts Payables Management | Vendor payments, bill processing, expense tracking | Starts at $250 (based on volume) |
| Audit Services | Audit, support services, review, compilation, audit preparation | Custom pricing (based on audit scope) |
| Advisory Services | Virtual CFO, business valuation, financial modeling, cost analysis | Custom pricing (based on complexity) |
Indinero’s Features
- Offering bookkeeping, accounting, tax services, and CFO advisory support.
- Advanced technology tailored to automate and streamline accounting tasks.
- Flexible pricing options for monthly, quarterly, or annual plans.
- Optional corporate payroll services available as an add-on.
- Access to a dedicated team of accountants, with additional CFO and controller services.
The Unique Advantages of Partnering with a Specialized Accounting Firm
When CPAs partner with an outsourced accounting firm, it can make a huge difference in their workload. They are able to dedicate more time to crucial tasks while also providing a wider range of services to their clients. These specialized firms bring expertise, efficiency, and cost-effectiveness to the table, enabling CPAs to navigate the complexities of finance and expand their practices.
When CPAs outsource tasks that are not focused on their core services, they can spend more time on client relationships. They can also give more advisory services and keep up with the latest trends in the industry. This smart choice helps CPAs create a stronger and more profitable practice.
Niche Expertise That Matches CPA Requirements
One main benefit of working with a specialized accounting firm is their expert guidance based on your unique accounting needs. If your firm is in a certain industry, needs advanced tax planning, or requires help with financial reporting, an outsourced team can help you.
If you’re a CPA looking for top-notch outsourced accounting services, these specialized firms have got you covered. Their skilled professionals are always on top of industry rules, best practices, and new trends, ensuring that your firm receives accurate, compliant, and strategic accounting solutions.
Also, outsourced accounting firms can help with strategic planning and financial analysis. They provide insights that can help improve your firm’s operations, boost profitability, and reach your long-term growth goals.
Tailored Technology Stacks for Enhanced Efficiency
Outsourced accounting firms use top technology solutions. This helps them make work easier, boost efficiency, and lower the chance of mistakes. They spend money on the best accounting software, data security tools, and automation to keep everything running smoothly and protect data.
These technology solutions help save time and money. They also give CPAs real-time financial data. This helps them make better choices and manage finances more effectively. In addition, outsourced teams use best practices and standard processes to keep work consistent, correct, and in line with industry rules.
By using the technology from an outsourced accounting firm, CPAs can make their work simpler, improve data accuracy, and make the client experience better.
Navigating the Selection Process: What CPAs Need to Know
Choosing the right outsourced accounting firm is very important for having a successful partnership. CPAs should think carefully about their firm’s specific needs, long-term goals, and budget when making this choice.
Take into account factors like the firm’s specialization, use of technology, security steps, ways to communicate, and how well-known they are in the industry.
Identifying Firm Specializations and Matching Them with Your Needs
Start by figuring out your firm’s special needs and goals for the future. Decide which accounting tasks would benefit from outsourcing the most and the amount of expertise needed.
Then, look into possible firms. Focus on what services they offer, their experience in your industry, and how their team works together. Search for firms with a history of success in your area and a promise to provide support tailored to your needs.
You can use a table like the one below to compare different firms and what they offer:
| Firm Name | Primary Services | Industry Specialization | Team Approach |
| Firm A | Bookkeeping, Payroll, Tax Preparation | Small Businesses, Startups | Dedicated Account Manager |
| Firm B | Financial Reporting, CFO Services, Strategic Planning | E-commerce, Technology Companies | Collaborative Team Structure |
| Firm C | Tax Compliance, Audit Support, Internal Controls | Non-Profits, Government Entities | Industry-Specific Experts |
Evaluating Technology Integration and Security Measures
- Ask about the technology solutions the firm offers. This includes if their accounting software works well with yours.
- Check how they keep data secure. Inquire about their data entry processes and access rules to ensure they follow industry standards.
- Find out how they encrypt data and what their access control rules are. Also, ask about their plans for disaster recovery. A good outsourced accounting firm will focus on keeping your clients’ financial information safe and private.
- Lastly, think about how the firm communicates and how often they send reports. Good communication is important for a successful outsourcing partnership. Make sure they give regular updates, detailed reports, and have someone specific to contact for any issues.
Conclusion
In conclusion, working with a specialized accounting firm can give you expert help that fits CPA needs. The best outsourced accounting firms for CPAs in 2024 offer personal service and special technology that can really boost the way you work. CPAs should look for firms that match their specific needs and check how well they blend technology and security while choosing. By using the benefits of these firms, CPAscan make their work simpler and focus more on providing great service to their clients.
Frequently Asked Questions
What Criteria Should CPAs Use to Evaluate Outsourced Accounting Firms?
CPAs should evaluate potential firms by looking at their experience in financial performance consulting. It is important to check if they follow best practices and GAAP. Also, a proven track record of improving financial KPIs is necessary. Lastly, firms should have strong security measures to protect sensitive data.
How Do Outsourced Accounting Firms Enhance CPA Productivity?
Outsourced accounting firms make work easier and clearer. They help by keeping processes smooth. They also give access to experts no matter the time zone. Plus, they use strong project management tools. This all helps to save time for CPAs.
Can Outsourcing Accounting Functions Save Money for CPAs?
Yes, outsourcing can help save money. It does this by lowering extra costs and providing better pricing models. You also get expert financial insights. This all leads to better budgeting, more profitability, and stronger financial control for CPAs.
What Are the Risks Involved in Outsourcing Accounting Services?
Potential risks are data security breaches, compliance issues, and problems if the outsourcing firm has human resources issues. To reduce these risks, it is important to have a detailed due diligence process. This process should look at security measures, compliance guidelines, and the firm’s past performance.
- Inquiry: +1 302 532 9025
- Email:Â connect@globusfinanza.com
- Website:Â https://globusfinanza.com/
- Address:Â 600 N Broad Street, Suite 5 #665, Middle Town, Delaware 19709, United States