Outsourced virtual accounting gives you access to professional accounting services without hiring full-time staff.
Instead of managing payroll, benefits, and office space for an in-house team, you work with an external CPA or accounting firm that handles your financial recordkeeping, reporting, and analysis remotely.
This model has become standard for small and mid-sized businesses that need good bookkeeping and accounting but can't justify the cost of a full-time controller or accounting department.
Here's everything you need to know about how it works and its main benefits.
Outsourced accounting means hiring an external firm or professional to manage your accounting functions remotely. While bookkeepers record transactions and reconcile accounts, outsourced accountants also provide financial reporting, analysis, budgeting support, and controller-level oversight.
You get CPA-level expertise without the expense of hiring, training, and managing in-house staff.
"Virtual" means that the work happens online with no office visits or in-person meetings. Your accountant will deliver everything through email, video calls, or secure file sharing.
You usually start by sharing access to your financial systems, including:
The outsourced accounting team reviews your current processes and sets up systems to ensure accurate recordkeeping.
From there, the team handles monthly close procedures, prepares financial statements, reconciles accounts, and provides reports that show where your business stands financially. The exact deliverables depend on the accounting firm you work with and their scope of work.
Outsourced bookkeeping and accounting are very popular with small business owners, with 37% of them choosing to outsource this function.
Yes, outsourcing finance and accounting services has many clear benefits, the main one being that you get professional financial management without the overhead of hiring full-time employees.
Here's what makes it worth considering.
Hiring a full-time accountant or controller costs anywhere from $45,000 to $102,000+ per year, plus benefits, payroll taxes, office space, and software. Outsourced accounting gives you the same level of service for a fraction of that cost.
Is outsourcing cheaper than hiring? Yes, in most cases. You pay only for the services you need, and you avoid the fixed costs of salaries, benefits, and turnover. This makes outsourced accounting particularly valuable for small businesses and nonprofits.
Managing accounting in-house takes time, and not just for the work itself, but for hiring, training, supervising, and covering gaps when someone is out sick or leaves.
Outsourcing removes that burden. Your accounting team handles monthly close, reporting, and reconciliations without you needing to manage the process or, even worse, having to do your accounting yourself (if you're still doing it on your own).
Outsourced accounting firms bring experience across industries and financial systems. You can hire a CPA with specialized expertise and background, which is especially important for non-profits and businesses like law firms that face more complexities.
When your accountant has a high level of expertise in your particular field, you can make smarter decisions about pricing, hiring, expansion, or applying for financing.
Mistakes in accounting create tax problems, audit issues, and financial reporting errors that cost time and money to fix. When you hire a good accountant, they'll run quality checks to catch errors in a proactive way.
The right professional will also stay current on tax laws and compliance requirements, which means that your financial records will be able to withstand scrutiny from the IRS in case of an audit.
Accurate, timely financial reports give you the information you need to make confident decisions. Outsourced accountants give you context for your numbers. They can show you which services are profitable, where expenses are increasing, and how your cash flow is doing.
This kind of insight requires someone who knows how to interpret financial data and can apply it to practical scenarios in your small business.
Bookkeeping covers transaction recording, account reconciliation, and organizing financial data. This includes categorizing expenses, tracking income, reconciling bank and credit card statements, and maintaining accurate records in your accounting software.
Clean bookkeeping creates the foundation for reliable financial reports and tax preparation.
Accounting builds on bookkeeping by preparing financial statements, analyzing trends, and providing monthly or quarterly reports that show your financial position. This includes profit and loss statements, balance sheets, cash flow analysis, and variance reporting.
Accounting services turn raw transaction data into information you can use to evaluate performance and plan ahead.
Controller services provide high-level financial oversight. This includes reviewing financial reports for accuracy, establishing internal controls, overseeing budgets, and working with leadership on financial strategy.
Controllers bridge the gap between day-to-day accounting and executive-level decision-making.
Payroll processing handles employee compensation, tax withholdings, benefits deductions, and compliance reporting. This includes calculating wages, filing payroll taxes, managing direct deposits, and preparing year-end forms like W-2s and 1099s.
Outsourced payroll reduces the administrative burden and ensures compliance with federal and state tax requirements.
Some accounting firms specialize in industries with unique financial requirements. For example:
Outsourcing to an industry-specific accountant means working with someone who understands your reporting requirements and can offer targeted accounting solutions.
Complete Balance Accounting & Consulting is a CPA firm that fills the gap between bookkeeping and full-time in-house accounting staff. With 10 years of experience at a Top 25 accounting firm, including auditing, consulting, and outsourced accounting, we bring the expertise of a corporate finance team to small and mid-sized businesses that need reliable financial reporting and strategic support.
We provide bookkeeping, accounting, controller services, and system setup for businesses that have outgrown basic transaction recording but can't justify hiring a full accounting department.
We work with small businesses, nonprofits, law firms, professional staffing agencies, marketing agencies, and event planners across the US.
We provide virtual accounting services to clients across the US, but we have deep roots in the Philadelphia and Cherry Hill areas and love serving businesses in our local communities.
Our service areas include:
Because our services are virtual, we also work with businesses throughout the country. Geography doesn't limit our ability to provide the same level of financial oversight and support to clients anywhere in the US.
You'll know it's time to outsource when you no longer have enough financial clarity to support your business growth. Common signs include:
Outsourced accounting solves these problems by giving you access to experienced professionals who can organize your financials and provide the oversight you need for both compliance and future growth.
Learn how to do a business financial health check.
Outsourced virtual accounting gives you CPA-level financial management without the cost and complexity of hiring full-time staff. You get clean records, timely reports, and the expertise to make informed decisions about your business.
Complete Balance Accounting & Consulting provides outsourced accounting services to small businesses and nonprofits that need reliable financial reporting and controller-level support. If you're ready for accurate financial management, contact us to get started.
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