Have you ever opened an invoice from your outsourced accounting provider and thought, “Wait, what exactly am I paying for?” You’ve probably questioned whether the fees reflect real value, or if you’re just covering some QuickBooks access and a few monthly reports.
If you are going to spend hundreds or thousands of dollars every month, you deserve to understand exactly what you are paying for and what you are not.
In this article, we will walk you through what actually goes into the cost of outsourced accounting services. And more specifically, how does Patrick Accounting structure pricing so that it’s fair, transparent, and valuable to the clients we serve?
What’s Typically Included in Outsourced Accounting Services?
Across the accounting industry, most outsourced accounting firms offer some combination of the following services:
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Bookkeeping (categorizing transactions, reconciling accounts)
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Monthly financial statements (P&L, balance sheet, cash flow)
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Payroll services
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Sales and payroll tax filings
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Year-end tax return preparation
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Periodic strategy or review meetings
But the level of detail, the consistency, and the insight you receive can vary widely from firm to firm.
In many cases, you're billed for outputs, but you're left without a clear understanding of the outcomes.
What Drives the Cost in the Industry?
Most accounting firms (outsourced or in-house) base their pricing on several key variables:
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Number of entities or locations
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Transaction volume (e.g., number of purchases, invoices, deposits)
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Payroll complexity (multi-state employees, frequency, turnover)
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Tax filing requirements across jurisdictions
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Tools and software integration needs
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The level of strategic insight and reporting required
This explains why two companies of similar size might pay very different amounts.
So, How Do We Do Things Differently at Patrick Accounting?
You’ve seen how the industry usually handles pricing and billing—now let’s walk through how we’ve shaped our approach to be more transparent, consistent, and valuable for our clients.
Why Patrick Accounting Doesn't Bill by the Hour
The old model: hourly billing
Traditional accounting firms often bill like attorneys: by the hour. If your CPA spent 17 minutes or 17 hours on a task, you paid for every tick of the clock.
The problem? Time spent doesn’t always equal the value delivered.
Hourly billing punishes inefficiency, surprises clients with unpredictable bills, and misaligns incentives.
Patrick Accounting's Pricing Model: Fixed Monthly Investment Based on Scope & Value
When you become a Patrick Accounting client, we quote a single monthly price. It doesn’t fluctuate based on how busy we are or how long a task takes.
Here’s what that investment typically includes:
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Accurate, timely bookkeeping
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Monthly financial statements with insights
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Ongoing sales and payroll tax filings
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Tax planning and projection conversations
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Annual tax return preparation (when included)
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Mid-year and year-end review meetings
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Access to your accountant for strategic guidance
If something new pops up (like you expand into a new state or acquire another business), we’ll quote that additional work separately, up front, with no surprise invoices.
What Drives the Cost of Your Monthly Accounting Investment?
Your price isn’t pulled out of thin air. We look at key factors that impact both the complexity and volume of the work required:
1. Number of Entities or Locations
Each entity or franchise location adds layers of reporting, reconciliation, and compliance.
2. Transaction Volume
If you make 200 purchases a month versus 20, that dramatically affects bookkeeping needs.
3. Payroll and Tax Complexity
Employees in multiple states? High turnover? Sales tax across jurisdictions? These all increase filing and compliance demands.
4. Technology Integrations
The tools you use (POS systems, bank feeds, CRMs) and how they talk to each other impacts our setup and maintenance work.
5. Level of Insight Required
Want multi-location P&Ls? Industry KPIs? Custom dashboards? The more detailed the output, the more strategic inputs are required.
What If You Want to Lower Your Accounting Costs?
Yes - there are ways to do that, and we’re happy to help you identify them.
We price our services based on factors like complexity, transaction volume, compliance demands, and the level of financial insight required. So if any of those areas change in your business, your accounting cost can change too.
Here are a few ways clients have successfully lowered their investment:
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Consolidate bank accounts to reduce reconciliation workload
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Eliminate unnecessary reporting (e.g., location breakdowns you never use)
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Use fewer manual processes (like daily store purchases) that create high transaction volume
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Streamline payroll by minimizing turnover or reducing multi-state employment
Think of us as a partner, not just a service. If your business becomes easier to manage financially, we want that reflected in your price. We’re not here to keep your invoice high! We’re here to make sure it matches the real work and value required.
And if you're not sure how to simplify? That’s part of the conversation too. We’ll help you explore ways to streamline operations, reduce unnecessary complexity, and get the most out of your investment.
What You’re Not Paying For
We keep our scope clear so you’re never surprised. Here’s what’s not included in a typical agreement, but can be added when needed:
Not included by default (but available à la carte):
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Workers’ comp audits
- Bill Pay services (A/P)
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Donor statements (for nonprofits)
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Franchise roll-up reporting (unless scoped in)
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Government census filings
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Custom grant or nonprofit reports
What we don’t do:
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Bill your customers
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Collect your receivables
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Chase your clients for payments
These are often one-off or data-restricted tasks, and we’ll quote a flat project fee if you ask us to handle them.
But What If I Don’t Think It’s Worth It?
That’s a fair question... and one we encourage all clients to ask regularly. Here’s our take:
You’re not paying for a tax return. You’re paying for a system.
It’s a system that protects your business, organizes your financial life, and provides clarity so you can act decisively. It’s monthly strategy check-ins. Tax planning. Data you can trust.
That system should:
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Keep you out of trouble (compliance)
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Help you understand your numbers
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Support confident decision-making
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Give you peace of mind month after month
If that’s not delivering value, we want to talk about why.
Some clients eventually realize they don’t need the insights as much as they thought. Others discover they’re not using the reports or advice, and stop seeing the point. When that happens, we don’t take it personally. But it’s worth acknowledging: value is not just delivered—it has to be perceived and used.
Is Patrick Accounting the Right Fit for You?
Understanding what you’re paying for is one part of the puzzle, but knowing who you're working with matters just as much.
If you’re curious whether
Patrick Accounting is the right long-term partner for your business, your next step is to read: Who’s a Good Fit for Patrick Accounting?
We break down the types of business owners we serve best, the mindsets that align with our approach, and situations where we might not be the right fit.
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