Is your small business feeling the pinch from increasing operational costs, rising loan interest rates or other economic fluctuations in the US market? As economic shifts and inflation continue to shake small businesses throughout the U.S., one particular area where owners have successfully been reducing expenses is their accounting operations. But how can you balance quality and cost when selecting an affordable accountant for small businesses?
If you have ever wondered whether an affordable accountant for small business is a viable choice, then this blog can help you. We will walk you through the choices,-from DIY tools to professional assistance and help you choose the one that suits your business and your budget.
Why Every Small Business Needs Good Accounting?
Let us first clear one thing before we get into the options. Quality accounting is mandatory. Whether you sell handmade candles online or run a small landscaping company, you need accurate financial records to:
- Track income & expenses.
- File taxes on time and correctly.
- Learn about your business financial health.
- Make informed decisions for growth or even cost-cutting.
Whenever accounting is neglected or performed improperly, it can result in IRS penalties, cash flow issues or even business failure. That is the reason searching for an affordable accountant for small businesses is not just about saving money but about safeguarding your business.
Choice 1: Do It Yourself (DIY) with Accounting Software
If you understand basic bookkeeping or are prepared to learn, accounting software is the best place to begin. Many are created for small businesses and also offer very simple dashboards for management of income, invoices, expenses, reports and taxes.
Popular and affordable accounting software:
- Wave (free for basic accounting tasks):
- QuickBooks Online accounting (paid, but starts with low-cost plans) with The Fino Partners
- FreshBooks (for service-based companies).
- Zoho Books (pertaining to integrations and automation).
- Xero (good for scalability and small teams).
Pros:
- Cost effective (or free).
- Simple to learn and use.
- Instant reporting & analytics.
- Integrates with banking & payroll.
Cons:
- Time-consuming if you don't know accounting.
- Entry errors risked if not done properly.
- Support for complicated financial needs limited.
For people just starting out or operating a side business, accounting software could be enough. But in case you are growing fast or overwhelmed, you might want to call an accountant.
Choice 2: Using a Freelance Accountant
Not quite ready to employ a full time accountant? You can hire an affordable accountant on a freelance basis, i..e, somebody who works part time, monthly or only during tax season.
Where you can find freelance accountants:
- Freelancer platforms like Upwork, Fiverr, or perhaps Freelancer.
- Local Facebook groups/small business forums.
- Other business owners’ referrals.
What they can help with:
- Preparing and filing taxes.
- Monthly bookkeeping.
- Reconciling bank statements.
- Advising on expense tracking.
- Set up accounting systems.
Pros:
- Affordable & flexible.
- Pay for exactly what you use.
- Often experienced with more than one industry.
Cons:
- Might not be available on demand.
- Check credentials & reviews for quality which varies.
- Limited support if your business grows fast.
For most small businesses, a part time freelance accountant is affordable and just what they need.
Choice 3: Outsourcing to an Accounting Firm
For a team approach with greater assistance, outsourcing accounting services to an accounting firm like The Fino Partners might be the best option. Such companies usually supply bundled packages for small companies that generally include accounting, tax planning, payroll and advisory services.
Why it’s affordable:
- Firms differentiate service tiers based on business size.
- You save on hiring an inside accountant.
- You scale services as your business expands.
What to expect:
- Monthly service fees (fixed or tiered).
- Regular reporting.
- Access to multiple specialists (CPA, bookkeeper, payroll expert).
- Support for IRS audits, financial planning or budgeting.
This is an excellent option if you require consistent support but not full time staff yet. Ask about pricing models and what comes with each package.
Choice 4: Hiring an In-House Bookkeeper (Part-Time or Full-Time)
In case your business is expanding and you need direct control over accounting capabilities, you may want an in house bookkeeper. This can be part-time or full-time based on your needs.
What they can handle:
- Day to day data entry.
- Invoice generation along with follow ups.
- Payroll management.
- Preparation of financial report.
Average Costs (US estimates 2025):
- Part-time Bookkeeper/Bookkeeper: USD 20-USD 30/hour.
- Full time Bookkeeper: USD 45,000-USD 60,000/year.
Pros:
- Complete control & access right at your fingertips.
- Customized reporting along with real time tracking.
- Familiarity with your company.
Cons:
- More costly than freelance or outsourced services.
- Requires office space, onboarding and HR management.
- Still need a CPA for taxes or audits.
This path is best for businesses with lots of transactions, many clients or increasing inventory.
Choice 5: Use a Virtual Accounting Service
Virtual accounting services offered by The Fino Partners deliver the versatility of software with the personal touch of a professional accountant. Such services are online and generally have an accountant or team assigned to you.
Best for:
- Remote first businesses.
- Entrepreneurs who want hands off accounting.
- Startups with scalable accounting requirements.
Useful features:
- Bookkeeping and financial reports monthly.
- Income tax filing & strategy sessions.
- Payroll & invoicing.
- Accessing financial data in real time.
How to Select the Right Accounting Solution?
Here are some questions to ask before you choose:
- How much could I afford each month?
- Am I comfortable carrying out some of the accounting myself?
- Is my business growing or remaining exactly the same for now?
- Do I need help with taxes only or all financial management?
- How tech savvy do I need the accountant to be?
The right choice for your business depends upon how you answer these questions. For many small businesses, beginning with software and gradually moving to a freelance accountant or outsourced firm as you grow is the best route.
Related Resource
- IRS and Nonprofits - Political Targeting Concerns in 2025
- Do You Really Need an Accountant for Personal Finance? Here's the Truth
- How a Public Accountant Can Save You Money On Tax Season
Your options are no longer limited to paying for CPA services or doing everything yourself. From tech tools to freelance experts, part-time help and virtual services, there are many many options for an affordable accountant for small business. The key is picking out what fits your business stage and budget at this time.
If you feel overwhelmed, take it step-by-step. Start small, be consistent and hire an inexpensive accountant when you need one. Contact our experts at The Fino Partners to get started.
