Are you a small business owner feeling overwhelmed by your finances? Many small business owners face the same challenges and wonder if professional accounting services are worth the investment. The big question on your mind is likely, "How much is this really going to cost?"
At Patrick Accounting, we believe in transparency and understand that every dollar counts when you're running a small business. In this article, you’ll learn exactly how much the Core package from Patrick Accounting costs, what drives your specific price, what you get every month, and how to tell if this package is the right fit for your business.
What is the Average Monthly Cost for Patrick Accounting Clients?
At Patrick Accounting, we offer a wide range of services including accounting, tax preparation, payroll management, and advisory services. Our Core package is your foundation for clarity and compliance. It takes the stress out of bookkeeping and tax deadlines so you can focus on running your business.
Our starting fees are $650 per month, and for more complex needs, prices can range up to $2,500 - $3,000 per month for one entity.
Our typical client pays around $750 to $800 per month for our Core accounting and tax services.
When you include payroll services, the cost averages around $1,000 per month.
We provide payroll through our sister company, Whirks, which specializes in payroll, HR, and employee benefits. By combining Patrick Accounting’s financial services with Whirks’ people management solutions, you get a fully integrated, one-stop shop for all your back-office needs. This partnership allows you to simplify financial and people complexities.
In fact, we require clients to move payroll over when they start accounting with us. Why? Because keeping both under one roof simplifies your back office, improves compliance, and saves time. This integration helps keep your accounting fees lower in the long run, while giving you more accurate, real-time reporting you can trust.
Core is perfect for first-time outsourcers, startups, and owners who want peace of mind with clean books and compliance.
What Determines the Price of Accounting Services?
When it comes to pricing accounting services, several factors come into play. We customize our fee based on your specific business needs. The complexity of your books, the volume of transactions, and the technology you use all impact your monthly investment. Here are the three main factors we consider:
Factor #1: Volume of Transactions
One of the largest factors in determining your monthly investment is the volume of business transactions you have per month.
The number of bank accounts, loans, checks, debits, credit card transactions, bills, and vendors you work with each month can all impact the cost. More transactions mean more time spent posting, categorizing, and reconciling your books.
Factor #2: Complexity of Your Books
The other large factor in determining your monthly investment is how complex your books are. At Patrick Accounting, several complexity factors go into determining our pricing:
Business Structure Complexity:
- How many business locations do you have? Multiple locations require more detailed tracking and reporting.
- Do you manage inventory? Inventory tracking adds another layer of complexity to your bookkeeping.
- How many states are you operating in? Multi-state operations often mean multiple tax jurisdictions.
- Do you have multiple bank accounts? Each account needs to be reconciled monthly.
Tax and Compliance Complexity:
- Do you file sales tax across multiple locations or states? Sales tax compliance can get complicated quickly with multiple jurisdictions.
- Industry-specific requirements: Restaurants need liquor tax tracking, nonprofits need restricted cash account management, etc.
Factor #3: Technology Stack
The type of accounting software and technology you use can impact the price. We work with clients who use either QuickBooks Online or Restaurant365. You may incur different costs based on integration and management requirements.
If you are a QuickBooks Online client, we consider factors such as:
- Classes and tracking categories
- Consolidations
- Multi-entity management
- Restricted cash accounts (common for nonprofits)
- Profitability tracking across departments or offices
This is common with multi-unit restaurants, physicians, or professional service practices that track multiple offices.
If you are a Restaurant365 client, we consider:
- How the software integrates with your point of sale system
- How many vendors you're directly integrating with
- Whether you need detailed financial reports for multi-unit operations
- What other workflows or technologies are part of your processes
- Time and labor data integration
- Payroll integration
What's the One-Time Investment to Get Started with Core?
When you start working with Patrick Accounting, there is a collaborative onboarding process designed to align our services with your business needs. We call these Initial Strategy Sessions.
Purpose of Initial Strategy Sessions
- Documentation: We document your goals, current financial processes, and any specific requirements you have. This includes understanding your current practices and identifying areas for improvement.
- System Setup: We ensure that all necessary systems and software (like QuickBooks Online or Restaurant 365) are properly set up and integrated.
- Initial Review: We review your last three tax returns to identify any risks or opportunities and ensure your financial records are accurate.
At Patrick Accounting, our onboarding price varies for everyone since it's based on our monthly accounting fee.
For our Core services, the one-time investment is typically twice your monthly accounting fee.
Onboarding fee = (Monthly fee x 2)*
For example, if you come on board at the beginning of the year with a monthly fee of $1,000, your onboarding investment would be $2,000. However, as the year progresses, or if there are multiple tax returns to complete or a lot of book cleanup (and there often is), then the one-time investment can be more significant.
A good rule of thumb is to calculate the monthly fee by the month of the year in which you're starting. So, if you're thinking about making a change in August, and the monthly investment is $1,000, you should expect to invest around $8,000 to get started.
Many factors go into this, such as how up-to-date your current books are and how quickly we can get you caught up. So, don't panic if that feels scary. We can always work with you and break up your investment over time to make sure you're comfortable getting started.
What Does the One-Time Investment Cover?
One-time fees cover initial setup and any back work needed to bring your books up to date. When you become our client, we assess the current state of your books and determine what it will take to get everything current. This includes:
- Initial Strategy Sessions: A series of meetings to establish and document your financial processes, goals, and specific requirements
- System Setup & Integration: We ensure that all necessary systems and software (like QuickBooks Online or Restaurant 365) are properly set up and integrated
- Chart of Accounts Realignment: Adjusting your chart of accounts to align with your business needs and industry best practices
- Review of Past Tax Returns: We review your last three tax returns to identify any risks or opportunities and ensure your financial records are accurate
- Back Work: Getting your books current if they've fallen behind
- Unfiled Tax Returns: We include a fee for any unfiled previous years' tax returns. If you haven't filed last year's tax return, for example, this will be part of our back work assessment and priced accordingly.
What You Get Every Month with the Core Package
Core gives you the foundation for clean books, compliance, and peace of mind. Here's exactly what's included in your monthly investment:
Accounting Services
Monthly Bookkeeping & Reconciliations (or every 4 weeks for restaurants)
- We post, modify, and adjust transactions in your books
- We reconcile your bank accounts, loans, and credit cards
- We update your depreciation information monthly
Standard Financial Reports
We provide a comprehensive set of financial reports each month, including:
- Profit & Loss with Trends so you can see how revenue and expenses are changing over time
- Balance Sheet showing what you own and what you owe
- General Ledger with detailed transaction records
- KPI Trends tracking your key performance indicators month-over-month
- Executive Summary giving you the big picture at a glance
- Health Score assessing your overall financial wellness
- Insight Graphs visualizing your financial data for easier understanding
Monthly Financial Summary with Insight
This isn't just a stack of reports. We give you a written summary explaining what the numbers mean. We highlight key changes or concerns and provide actionable insights for your business so you can actually understand what is happening financially.
Tax Services
Business Tax Returns:
- Business Federal & State Income Tax Returns
- Sales Tax Return Preparation and Filing
- Liquor Tax (for applicable businesses like restaurants and bars)
- 1099 Preparation & Filing*
- Preparation of Annual Report
- Preparation of Gross Receipts Tax Return
- Preparation of Tangible Property Tax Return
*Note: 1099s are charged outside of the monthly fee at $150 for the first 1099 and $10 for each additional 1099.
Tax Planning & Strategy:
- Mid-Year & Year-End Business & Tax Strategy Meetings to review your financial progress and discuss tax planning opportunities
- Our aim is to help you make informed decisions throughout the year and avoid any surprises come tax season
Advisory & Support
Dedicated Onboarding Team
When you start with Patrick Accounting, you'll work with a dedicated team that helps you get set up properly from day one.
Team Access (Regular Phone, Email, Zoom, and Meetings)
We include regular communication as needed to discuss your financial statements, tax questions, and other concerns. You are not just getting a report. You are getting a team in your corner.
Patrick Academy + Learning Center Access
As part of our monthly service, we offer exclusive access to our Patrick Academy. Think of it as office hours with your accounting team, whenever you need it. We hold regular sessions where you can ask anything on your mind about running your business, understanding your numbers, or improving profitability.
Common topics our clients bring to office hours:
- How to read and actually use your financial statements
- Tax strategies and planning throughout the year
- Cash flow management and forecasting
- Pricing strategies and profit improvement
- Industry-specific best practices
- QuickBooks tips and troubleshooting
But you're not limited to these topics. Bring whatever questions or challenges you're facing, and we'll work through them together.
Technology
QuickBooks Online Subscription
This is a separate cost (approximately $70/month depending on your plan).
Basic Tech Support
We provide assistance with QuickBooks integration and help you troubleshoot common issues.
What Core Doesn't Include (But Available in Other Packages)
Core is designed to give you clean books and compliance. If you need more hands-on cash management or strategic planning, you might want to consider our Advanced or Ultimate packages.
Not included in Core:
Weekly cash flow management and reporting
Accounts payable processing and bill pay services
Receipt and expense management tools (like Dext)
Weekly flash reports
Custom KPI tracking and reporting beyond standard reports
Strategic budgeting and forecasting
13-week cash flow forecasting
Quarterly business strategy sessions
These services are available in our higher-tier packages or as add-ons.
Available Add-Ons for Core Clients
While Core covers your foundational accounting and tax needs, you can customize your package with additional services as your business grows:
Available Add-Ons:
Individual Tax Return & Planning: Personal tax preparation and strategic planning for business owners
IRS/State Notice Response & Audit Representation: We handle correspondence and represent you if issues arise with the IRS or state tax authorities
Receipt and Expense Management: Tools like Dext to streamline expense tracking and make bookkeeping easier
Profit First Accelerator Program: Coaching and dashboard access to implement the Profit First methodology in your business
Profit First Accelerator Program: Coaching and dashboard access to implement the Profit First methodology in your businessThese add-ons let you get exactly what you need without jumping to a higher package tier. We can discuss which add-ons make sense for your business during your discovery call.
How Our Core Package Works for Single-Location Restaurants
If you own a restaurant, bar, or food service business, Core gives you everything you need to stay compliant and understand your numbers without the complexity of managing it yourself.
What Makes Core Right for Restaurants:
1. Bookkeeping Flexibility
Choose monthly or every-4-weeks bookkeeping to match your restaurant's rhythm. We reconcile your accounts and keep your books current so you always know where you stand.
2. Restaurant-Specific Tax Compliance
Running a restaurant comes with unique tax requirements, and we've got you covered:
- Sales tax preparation and filing
- Liquor tax return preparation and filing (if applicable)
- Business federal and state income tax returns
- All the annual filings you need (1099s, annual reports, gross receipts, tangible property)
3. Financial Reports That Matter for Restaurants
We provide standard financial reports including your P&L with trends so you can see how your revenue and costs are changing month over month. You will also get KPI trends to track your key restaurant metrics and a monthly financial summary with insight explaining what your numbers mean for your business.
4. Technology Options
- Works seamlessly with QuickBooks Online for simpler operations
- Can integrate with Restaurant365 (subscription separate)
- Compatible with your POS system
5. Advisory Access
Regular calls, emails, and meetings to discuss your financials, plus mid-year and year-end tax strategy meetings. You'll also get Patrick Academy access with office hours on topics like improving restaurant profitability.
Perfect for:
- Independent restaurant owners with one location
- Bar or pub owners focused on compliance
- New franchisees getting their first location established
- Food service businesses that need clean books without weekly cash management
When Restaurants Need More Than Core:
If you're running multiple locations, need weekly prime cost tracking, or want hands-on accounts payable management, check out our Advanced Package which includes weekly cash management and restaurant-specific KPIs like COGS%, labor%, and prime cost tracking.
Is the Core Package Right for Your Business?
Core is perfect for specific types of businesses and owners. Here's who thrives with our Core package:
- First-time outsourcers who've been doing books yourself or with a part-time bookkeeper and are ready for professional help
- Startups and small businesses that need to establish clean financial processes from the ground up
- Single-location businesses with straightforward operations
- Owners who want peace of mind knowing books are clean and taxes are handled correctly
- Businesses focused on compliance rather than needing weekly strategic guidance
- Companies with $500K-$2M in revenue (generally speaking)
Examples of ideal Core clients:
- Independent restaurant owner with one location
- Single-location doctor or dentist office
- Professional service business (architect, consultant, contractor)
- Franchise owner with 1-2 locations
- E-commerce business with straightforward inventory
- Small retail shop or storefront
When You Might Need Advanced or Ultimate Instead
Core might not be enough if you:
- Need weekly visibility into cash flow and upcoming expenses
- Want someone to process and pay your bills for you
- Have multiple locations requiring detailed expense tracking and allocation
- Need custom KPI reporting specific to your industry
- Want strategic planning and forecasting to guide business decisions
- Need help managing rapid growth with more frequent financial check-ins
If this sounds like you, check out our Advanced Package for weekly cash management and bill pay, or our Ultimate Package for CFO-level insight and quarterly strategy sessions.
How to Keep Your Fees Lower
While we do not offer any discounts, we guarantee that our work is at the level you would expect. Your fee is based on volume and complexity. By creating simple processes and reducing unnecessary complications, you can help keep your fees lower:
- Create simple, consistent processes for how you handle transactions.
- Don't commingle personal and business expenses, keep them completely separate.
- Stay organized with receipt management. The more organized you are, the less time we spend tracking things down.
- Use one primary bank account when possible rather than spreading transactions across multiple accounts.
- Keep vendor management organized. Consistent vendors and clear invoices make bookkeeping smoother.
- Respond quickly to requests for information. Timely responses help us work more efficiently.
The more organized and consistent you are, the more efficiently we can work, which helps keep your costs in check.
Ready to Build a Better Business?
Investing in quality accounting services can save you time, reduce stress, and help you run a more profitable business. Knowing the costs and benefits will help you make the best decision for your business.
At Patrick Accounting, we’re all about transparency because we know surprise fees aren’t fun for anyone. If you’re ready to see if we’re the right fit for your business,
Not quite ready to meet? That’s totally ok! Check out our guide on Who’s a Good Fit for Patrick Accounting to see if our services align with what you need.
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