How much do accountants cost?

Whether you’re a small business owner, self-employed, a freelancer, or simply need help organizing your personal finances, hiring the right accountant can be a wise investment that saves you time, money, and stress. 

An accountant can track revenues and expenses, offer financial consultations, prepare financial reports, manage accounts, and handle bookkeeping and financial records, among other things. Most important to many people, they can do tax planning and prepare tax returns (including income tax, sales tax, and other business taxes).

If you have a business, a good accountant can also provide important insights and strategies. These include helping you structure your business (whether a sole proprietorship, partnership, or corporation), determine your working capital needs, balance the budget, and create and organize financial records.

While larger businesses often have full-time accountants on staff, small businesses and individuals typically hire professionals to perform specific accounting tasks when they need them. 

This cost guide will help you know what fees to expect when you hire an accounting pro.

Accounting costs depend on the size of your business or complexity of your personal finances, the services you require, the experience and qualifications of the accountant, and whether you need one-time help or ongoing accounting services. 

Some accountants charge flat fees for certain jobs, while others charge an hourly rate. The average cost of accounting services is $100–250 per hour. 

Depending on the complexity of your financial needs, you may require basic accounting services or a specialist with additional training or expertise. Here are the major options.

Junior accountant or bookkeeper. These are entry-level staffers who may or may not have an accounting degree. They usually report to higher-level accounting professionals or, or in smaller companies, a controller (accounting manager). The type of work they typically do includes reconciling accounts (comparing financial records to make sure they’re consistent) and preparing reports. Average cost: $35–60 per hour.

Staff accountant. This is one of the most common accounting positions. A staff accountant typically has a bachelor’s degree in accounting, business administration, or finance, and usually works with small businesses to handle common tasks—including preparing financial statements, maintaining business accounts, reconciling accounts, maintaining payroll records, and cash management. Average cost: $60–80 per hour.

Investment accountant. These accountants specialize in finance and investments, and often work within brokerages and asset-management firms. Their typical role is to maintain clients’ investments while making sure they adhere to state regulations. Investment accountants usually have at least a bachelor’s degree in accounting, finance, economics, or business. Many go on to get a CPA credential, and some also become personal financial advisors.  Average cost: $100–200 per hour.

Certified public accountant. CPAs are high-level accountants and are generally considered experts in their field. They help clients plan and meet financial goals, conduct audits and reviews, and offer consultations and litigation (lawsuit) support. To become a CPA, an accountant must earn a bachelor’s degree from an accredited accounting program and pass the Uniform CPA Examination (which evaluates their knowledge and abilities in a variety of areas). Average cost: $200–400 per hour.

Here’s what you’ll typically pay for typical services offered by accountants.

Tax preparation. The cost will vary based on the type of accountant or preparer you hire, your income, how complicated your financial situation is, and whether you own property, a business, or investments. Average cost: $150–350.

Monthly accounting services. Many accountants offer packages for small businesses, entrepreneurs, or other individuals that include recurring services such as consultations, financial reports, and account reconciliation. Average monthly fee: $75–175.

Balancing books. Corporations and many other businesses must maintain a set of “books”— records that include assets, liabilities, and equity (owners’ stake in the business)—arranged in a statement known as a balance sheet. Average cost: $200–400.

Preparing financial statements. This is also necessary for many businesses. It involves compiling financial information into a standardized set of reports, which allow management, lenders, creditors, and investors to evaluate the company’s performance, liquidity, and cash flow. Average cost: $250–500.

Here are some ways to reduce your expenses for professional accounting services.

Is it worth it to hire an accountant?

If you have a high income, own a business, work as a freelancer, or have any other kind of complicated financial or tax preparation situation, hiring an accountant can be beneficial. Their fees may be more than offset by tax savings, avoiding penalties, and other financial benefits.

How much do accountants charge per hour?

The cost of an accountant depends on the size of your business or complexity of your personal finances, along with the services you require, experience and qualifications of the accountant, and whether you need one-time or ongoing help. The average fee is $100–250 per hour. 

Is hiring a CPA worth it?

Certified public accountants are accounting pros who have met additional education and experience requirements, so they have expertise in a variety of accounting systems and tasks. They typically work as financial advisors who help individuals or businesses plan and achieve their financial goals. However, if you’re looking for simple services such as bookkeeping or basic tax filing, a less expensive financial pro can probably meet your needs.

Find a qualified accountant in your area.