Is Outsourced Bookkeeping Worth It? The Real Profit Equation

Outsourced Bookkeeping, Accounting & Fractional CFO Services in the U.S. 

A High-Trust, High-Value Sector for Financial Professionals

About the Writer

Dickson Wasake has more than 20 years of experience, including with global accounting firms PwC, Baker Tilly, and Deloitte, and various roles such as a fractional CFO and advisor for clients. He is an ex-audit partner (Baker Tilly CI). Dickson is a UK CPA (FCCA) and a US CPA (exam qualified) and has experience with clients of various sizes, from start-ups to a $1.3 trillion listed client. He has travelled to 30+ countries, including in Sub-Saharan Africa, the Bahamas, the UK, and Canada. He lives in IL, USA. Connect with him on LinkedIn or view his detailed resume/CV.

🔍 Introduction: The Trusted Numbers Partner

I am giving you the inside track to this sector considering I have inhabited this world for 20 years plus. That said, given a shortage of CPAs in the US, there has been a proliferation of non-CPAs venturing into this sector and so this article caters for non-CPA owners who might not know that there are certain aspects of this work (called "non attest services") which don't require a CPA license. For CPAs, these services typically called "CAS" are a lucrative add on, so read on!

Think of a 7-figure founder, they need cash flow clarity, tax filing, and help pitching to investors. You show up—not as an employee, but as a high-trust finance partner. You don’t just count the beans—you help them grow.

Welcome to the world of outsourced bookkeeping, accounting, and fractional CFO work.

Why Outsourced Bookkeeping is on the Rise

• Over 40% of small U.S. businesses outsource accounting (Clutch)

• CFO-as-a-Service market is projected to reach $20 billion by 2028 (Grand View Research)

• Professionals charge $500–$7,500/month, depending on services and scope

💡 What We Think About This Business

Ideal for CPAs, former finance executives, or accounting pros who want to scale their expertise into a flexible firm or solo consultancy. Non CPAs will likely need to have a CPA as part of their team (ideally start off with a part time advisor).

“Being a CFO used to mean spreadsheets—now it means strategy.” — Paro Network

⚖ SWOT Analysis

Category	What It Means	Examples
Strengths	Recurring revenue, high trust	Monthly retainers, referrals
Weaknesses	Intangible product	Hard to “see” results
Opportunities	Startups, PE-backed firms, nonprofit CFOs	Remote-first, global reach
Threats	DIY software, global wage competition	Xero, India, AI tools

🧠 Key Things to Know Before You Start

✅ Requirements:

• CPA license or experience in finance/accounting

• Cloud accounting tools: QuickBooks, Xero, Gusto

• Client contract templates + scope of work clarity

• Marketing platform or referral engine

⚠ Risk Management:

Risk	Control
Scope creep	Clear deliverables + tiered packages
Late payments	Auto-billing + retainer model
Regulatory error	CPA oversight + checklists
Capacity overload	Waitlist + service prioritization

🔐 Internal Controls

Risk	Control
Client dependency	Cap per client or sector
Errors in reporting	Peer review + deadline buffer
Security breach	Two-factor auth + encrypted docs
Cash misclassification	Chart of accounts lock + rules

Typical Founder Concern: 

“What if clients don’t see the value or leave unexpectedly?”

Theme: Client Retention & Value Perception

Financial management is essential, but not every business understands its worth — until they face a crisis. Many clients are eager to onboard when compliance issues loom, but can lose interest once the books are balanced. To retain them, focus on continuous value through insightful reporting, strategic forecasts, and periodic health checks. Don’t just solve today’s problem — equip them for tomorrow’s challenge. Position your services as an ongoing strategic partnership, not just a one-time fix.

🔮 Future Outlook

• Clients want real-time dashboards, not just reports

• AI will assist—but not replace—judgment calls

• Niche specialization (e.g. e-commerce, SaaS, creatives) offers pricing power

🛠 What the First Few Months Look Like (What "bean counters" typically do)

Month 1–3:

• Define your offer stack: bookkeeping, controller, CFO

• Build proposal templates + workflows (Notion, PandaDoc)

• Setup marketing: LinkedIn, newsletter, lead magnet

• Close 1–2 beta clients with testimonials

Typical Week:

• Bookkeeping reviews, client check-ins

• Budget or forecast creation

• Payroll + tax coordination

• Monthly close + board prep

🧠 Advanced Thinking Tips

Insights:

• AICPA: CAS firms grow 4x faster than traditional firms

• Harvard Business Review: Founders trust CFOs more than any other advisor category

• McKinsey: CFOs need storytelling skills, not just analytics

Strategic Moves:

• Productize monthly reporting with dashboard templates

• Create industry verticals (e.g. CFO for agencies)

• Build a fractional finance team under your brand

💡 Bonus Insight: Buying Instead of Starting From Scratch

Practices with $100K–$500K in annual billings are listed on Accounting Practice Sales. Look for client type, AR aging, and team capacity. Red flag: 1-person practices with no systems.

Ensure that you evaluate revenue by service line and tech integration potential.

 Business Model and Revenue Streams

💰 Start-Up Cost Breakdown (Detailed)

Item	Estimated Cost	Notes	Source
Software licenses	$1,000	Essential cloud tools (e.g., QuickBooks, Gusto)	Vendor websites
Legal + contracts	$500	Setting up LLC, client contracts	LegalZoom, CPA firm
Website + branding	$500	Basic site, logo, and digital presence	Canva, Wix, Carrd
Templates + CRM	$500	Proposal templates, client management	Notion, HubSpot Free
Home office set up	$1,500	Home office set up: Chair and Desk, Reliable computer/laptop, printer, and peripherals	Office Depot, Best Buy
CPA consultation (one-time)	$400	Initial setup and compliance review	Local CPA services
Professional training	$650	Courses for non-CPAs in bookkeeping or software	Coursera, Udemy
Sub total Startup Costs	$5,050
Miscellaneous	$505	10%
Total	$5,555

Startup Estimate: ~$5,555

💸 Revenue, Operating Costs & ROI (Annual Estimate)

Assumptions:

• 5 clients × $1,000/month = $60,000/year

• Expenses = ~$16,665

Expense Breakdown (Annual):

Expense Category	Annual Cost	Notes	Source
Tools + software	$2,000	QuickBooks, Xero, Gusto, reporting tools	Vendor websites
Admin + VA	$2,000	Part-time assistant for administrative tasks	Remote VA services
Marketing	$2,000	Content creation, outreach, social media ads	Canva, Mailchimp
Insurance + tax support	$1,000	E&O insurance, compliance oversight	Hiscox, Next Insurance
Client onboarding & retention	$200	Personalized welcome kits, retention gifts	Custom print vendors
Professional memberships	$450	AICPA, state CPA license (if needed)	AICPA, state CPA boards
Outsourced CPA(s) for tax filing and advisory	$7,500	Annual tax and compliance review, Support on complex matters	Local CPA services
Total Annual Costs	$15,150	-	Calculated
Miscellaneous	$1,515
Total	$16,665

Net Profit = ~$43,335/year

ROI = $43,335 ÷ $5,555 = ~780% ROI

📊 3-Year View (High Level)

The first year, you act as a solopreneur, in year 2, you add a part time team and then in year 3 you become a boutique firm.

🧰 Recommended Software Stack

• QuickBooks Online, Xero, Gusto, Fathom

• PandaDoc, Notion, HubSpot (CRM + proposals)

• Stripe, Wave, PayPal (payments)

• Loom, Slack, Google Workspace

🌍 Global Outlook: Outsourced Bookkeeping & CFO Services Beyond the U.S.

Outsourced bookkeeping and fractional CFO services are seeing significant global adoption as businesses seek efficiency, scalability, and strategic financial insight. The global finance and accounting BPO market is projected to grow at a CAGR of 9.3%, reaching $110.7 billion by 2030. (GrandViewResearch)

Regional Highlights:

• Asia-Pacific: Countries like India and the Philippines are hubs for outsourced finance services due to their cost-effective solutions and skilled, English-speaking workforce.

• Europe: In regions like Germany and France, data protection regulations (like GDPR) significantly shape outsourcing practices, requiring stringent compliance protocols.

• North America: The U.S. is a major consumer of outsourced CFO services, driven by the need for cost reduction and real-time financial insight.

• UK: Over 50% of firms are expected to outsource accounting tasks by 2030, driven by AI integration and demand for cloud-based financial management.

• Sub-Saharan Africa: Emerging as a promising outsourcing destination, with South Africa leading due to its skilled workforce and favorable time zone for European and American clients. The region's F&A BPO market is projected to grow at a 6.5% CAGR, reaching $4.54 billion by 2030.

Strategic Considerations:

• Technology Integration: Leveraging AI and automation enhances efficiency and data accuracy.

• Regulatory Compliance: Navigating diverse regulations across regions is critical for sustainable outsourcing.

• Customized Solutions: Businesses increasingly prefer outsourcing solutions tailored to their industry-specific needs.

The global adoption of outsourced bookkeeping and CFO services underscores a clear trend: companies worldwide are looking to optimize financial management without the overhead of maintaining in-house teams.

Conclusion: So, Is outsourced Bookkeeping Worth It?

🔚 Inachee Index Score: 85/100 – Tier A (Excellent)

It is high-value, recurring revenue, and scalable with the right systems. It is best for licensed professionals, but even non-CPA owners can venture into it if they have a CPA partner as an advisor in a fractional role. They will likely need that CPA level of expertise as the matters get more complex.

Given the shortage of CPAs, too many people on platforms like Upwork and Fiverr label themselves as "CFO" but the sad reality is many of them don't have experience at this level and so muddy the waters for those looking for the right experience because the office of the CFO is more complex than just bookkeeping, it requires considering aspects like FP&A, Financial Reporting, Tax planning, Risk Management. So if you are looking for a "CFO level" candidate, make sure you fully assess that the person has sufficient experience.

Otherwise, for the ranking, given that there are tiers A-D per our index, a tier of A means it's in the highest tier, so this is the real profit equation.

What Is the Inachee Index?

The Inachee Index scores sectors using 8 weighted dimensions: ROI potential, startup accessibility, ease of entry, scalability, compliance, market resilience, future relevance, and execution simplicity. Each sector receives a score out of 100 and is assigned a tier (A–D).

How does this sector rank against all others in the US? Check out the US ranking list. 

Want a more detailed financial model or forecast for this sector? Ask us about financial modelling.

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Disclaimer: While we have taken steps to research this information as well as based on our experience, you should not solely rely on the information given here to base your investment decisions. You should seek business advice from a professional knowledgeable of your specific circumstances. (e.g of your specific location and capital structure). The author (or Inachee) shall therefore not be held responsible for any loss you may incur when acting on this information.