Outsourced Accounting: What It Is, Who Needs It, and When to Consider It

You're a small business owner or non-profit executive and are consumed with growing your organization, you do not have the time or knowledge to perform or oversee accounting, you are struggling to get timely and accurate financial statements, you need the day-to-day accounting activities done but you also need some higher-level financial analysis, you cannot afford to hire a team of people, you cannot seem to find or keep the right accounting team – sound familiar?
Here's the thing: accounting isn't just about crunching numbers. It's about understanding what those numbers mean for your business, staying compliant with ever-changing regulations, and making strategic decisions that actually move the needle. And if you're not a financial professional, that's a tall order.

That's where outsourced accounting comes in. But before you start Googling "accountant near me," let's cut through the confusion and talk about what outsourced accounting is, who benefits from it, and when it makes sense for your business.

What is Outsourced Accounting?
Outsourced Accounting is contracting with a financial professional (or team of professionals that each devote a portion of their time to your company) who handles your accounting needs without being on your payroll. They're not sitting in your office, but they're deeply involved in your financial operations.

Here's what they typically handle:
Day-to-day accounting activities. They make sure all of your financial transactions (accounts payable, accounts receivable, cash receipts, cash disbursements, prepaids, inventory, fixed assets, debt, etc.) are properly recorded and accounted for.

Financial reporting and analysis. They close your books and prepare monthly, quarterly, and annual financial statements that show you exactly where your business stands. More importantly, they help you understand what those statements mean and what actions you should take.

Budgeting and Forecasting. They provide support for financial planning and analysis to help businesses make strategic decisions. 

Audit and Tax Support. They make sure you are audit-ready, should you be required to have an audit or review, and they act as a liaison with your auditors and tax advisors.

Strategic financial guidance. Need to know if you can afford that new hire, equipment purchase or new program expansion? They run the numbers and give you a clear answer.

An outsourced accounting provider can provide a broad range of services, from AP processing all the way up to CFO services.  You can access these services as you need them, without having to hire a team of full-time employees. This provides greater expertise and reduces the risk of turnover because you are being supported by a firm that does this for a living.

Who Actually Needs an Outsourced Accountant?
The short answer? More businesses than you'd think. But let's be specific about who benefits most:

Growing Small to Mid-Sized Businesses
If your business is generating between $1 million and $50 million in annual revenue, you're in the sweet spot. You're too big to wing it, but hiring a full-time CFO and building an entire accounting and finance team internally might not make financial sense.

According to research from Deloitte, 37% of small businesses outsource at least one financial function, and that number jumps significantly as revenue grows. Why? Because the complexity of your finances grows exponentially with your business, but your capacity to manage it doesn't.

Businesses in Complex or Regulated Industries
If you're in healthcare, construction, professional services, or any industry with specific compliance requirements, an outsourced accountant who understands your sector is invaluable. The cost of non-compliance isn't just fines - it's reputation damage and lost business opportunities.

Startups
Early-stage companies often bootstrap their accounting until it becomes a liability. If you're raising capital or experiencing rapid growth, having a professional accounting infrastructure from the start prevents costly mistakes and gives investors confidence in your operations.

Professional Services Firms 
Law firms, marketing firms,vconsulting agencies, and other professional services firms can benefit from outsourcing their accounting to ensure accurate billing, expense tracking, project tracking, and financial reporting, allowing the firm’s executives to focus on service delivery.

Healthcare Providers 
Medical practices and healthcare providers can benefit from outsourced accounting to manage billing, insurance claims, and regulatory compliance, allowing them to focus on patient care.

Non-Profit Organizations
Non-profits often operate on tight budgets, with limited staff, and need to ensure that their funds are managed efficiently. Outsourced accounting can help them maintain transparency and compliance with regulatory requirements.

Lauber Business Partners has been serving all of the above sectors for decades.

When Should You Hire an Outsourced Accountant?
Timing matters. Here are the clear signals that it's time to bring in professional help:

Signal 1: You Cannot Get Accurate and Timely Financial Statements
If someone asks about your profit margins and you respond with "pretty good, I think?" that's a problem. You can't grow what you can't measure. When you're making strategic decisions without reliable financial data, you're essentially driving blindfolded.

Signal 2: You're Spending More Time on Accounting Than Your Core Business or Mission
As a business owner or non-profit executive, your time has a dollar value. If you're spending significant hours per week on accounting tasks or managing your accounting function, calculate what that time costs versus what you'd pay an outsourced accountant. Then take stock of the additional value you could drive in your organization by allocating that time to business development, product innovation or mission delivery. 

Signal 3: You've Experienced (or Nearly Experienced) Compliance Issues
Missed tax deadlines, missed grant reporting deadlines, penalties, or that sinking feeling when you realize you might not be compliant with regulations - these are expensive wake-up calls. An outsourced accountant keeps you ahead of compliance requirements, not scrambling to catch up.

Signal 4: You do not understand your financials
It is not unusual for non-financial personnel to struggle to understand their financials.  Having an outsourced accounting partner to walk you through the financials and provide insights is invaluable and can lead to improved operating performance.

Signal 5: You're Preparing for a Major Business Milestone
Planning to take on investors, apply for significant financing, or sell your business? These moments require professional-grade financials. You don't want to discover your books aren't investor-ready when you're in the middle of due diligence.

Signal 6: You cannot attract or retain competent accounting and finance personnel
There is a shortage of high-quality accounting and finance personnel.  Working for a small business or non-profit requires an individual to perform a vast array of duties.  Often, it is challenging to find a single person who can, or wants to, perform all of these duties.  By using an outsourced accounting firm, you can access the expertise of different people working on your account, allowing you to access higher-level and more basic capabilities, without having to hire multiple employees.

The Bottom Line: Is an Outsourced Accountant Worth It?
Let's talk real numbers. The average salary for an experienced staff accountant in the U.S. ranges from $60,000 to $100,000, plus benefits, which can add another 30-40% to that cost. A CFO? That's $150,000 to $300,000+, depending on your market.
Outsourced accounting services typically cost a fraction of that - often 40-60% less than hiring equivalent talent internally. And you're not just getting one person; you're getting a team with diverse expertise and backup coverage when someone's on vacation or leaves.  This is a significant risk mitigation factor.

But the real ROI isn't just in cost savings. It's in making better decisions with accurate, timely financial data, avoiding costly compliance mistakes and penalties, freeing up your time to focus on revenue-generating activities, and having strategic guidance from professionals who've seen hundreds of businesses navigate similar challenges.  

Lauber Business Partners has been in the business of providing financial expertise since 1986.  They have a broad array of services that have been built for small to mid-sized businesses and non-profits.  Lauber provides Accounting and Finance solutions as well as Human Capital solutions (HR support, Talent Acquisition, and Leadership Coaching and Team Development).  Lauber stands beside you as a partner as your organization evolves and advances.
Ready to Talk About Your Accounting Needs?
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Struggling to get timely, accurate financials? Finding it hard to interpret your numbers or keep reliable accounting talent in place? You’re not alone, and you don’t have to tackle it alone. Lauber’s Outsourced Accounting team is built to bring clarity, stability, and real financial insight to your organization. Let’s talk about how we can support you and move your business forward.

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