Accountants help businesses and individuals manage their financial records. The specific services an accountant offers depends on their education, experience, and any specializations. Accounting services often include:

• Managing and maintaining financial records.
• Tracking income and expenses.
• Auditing a business's accounts and financial records.
• Providing financial advice to help a business reduce costs and boost growth.
• Creating a budget and/or financial plan.
• Generating financial reports and statements.
• Ensuring your company is compliant with all regulations.
• Preparing and filing taxes.
• Setting up a business's bookkeeping and accounting system.

Certified Public Accountants (CPAs) charge $150 to $400 per hour on average. Bookkeepers or newly graduated, junior-level CPAs typically charge $40 to $100 per hour. Accountant prices depend on several factors, including location, education, experience, and specializations, as well as the size of your business and the specific services you need. Small businesses typically spend $1,500 to $6,500 per year on accounting services. 

Some accountants charge a fixed monthly fee instead of an hourly rate. The monthly fee is typically calculated based on your business size and structure, the number of employees, and the services included.

Accountants often charge a flat rate for certain services, like tax preparation or setting up an accounting system for a new business.

• Hiring a CPA for tax preparation and filing costs $150 to $1,800+.
• Auditing services cost $2,000 to $10,000+ for most small businesses.
• Bookkeeping services cost $200 to $1,000+ per month, depending on the number of employees and transactions.
• Hiring an accountant to help set up your new business accounting system costs $500 to $1,500+.

If you own a business or have a complex tax situation that you're unsure how to handle, hiring an accountant can often save you money and time. A qualified CPA can look at your income and expenses, help you cut costs, increase revenue, and avoid tax errors or penalties. They can also maintain your day-to-day bookkeeping, freeing up your time to focus on other aspect of your business.

If hiring an accounting is not within your budget, consider accounting software as a budget-friendly alternative to help you track your incoming and outgoing transactions, keep accurate financial records, and reduce your day-to-day accounting and bookkeeping tasks. Most accounting software companies charge a $10 to $50+ monthly subscription fee, depending on the business size and number of users.

Using accounting software often helps to lower the cost of hiring an accountant for consulting and strategic planning. Keeping your financial information well organized with a software program reduces the hours an accountant must spend (and bill you for) to review and analyze your records.

Some people use "accountant" and "bookkeeper" interchangeably. These terms are related, but they are two different things. Bookkeepers typically deal with the day-to-day management of a business's finances. Accountants then use the financial information from those day-to-day records to help a business with its long-term financial planning and goals.

Some CPAs handle both bookkeeping and other accounting services. Both services are necessary and valuable, and businesses typically get the best results when accountants and bookkeepers work together and share information.

Consider hiring an accountant if:

• You start a business and need help getting your accounting and bookkeeping software set up.
• You don't have time to do the day-to-day accounting-related tasks for your business.
• You need help with financial audits or tax preparation and filing.
• Your company has complicated financial transactions that require CPA-level expertise.

Before hiring an accountant or CPA firm near you, figure out exactly what accounting services you need. Once you have a clear picture of how much you will do yourself and what specifically you need an accountant for, follow these tips to help you choose the most qualified professional for the job:

• Ask local business owners or colleagues for referrals (preferably those in similar industries).
• Look for local CPAs on the American Institute of Certified Public Accountants (AICPA) directory.
• Request a free consultation to discuss your accounting needs and financial goals.
• Get at least 3 estimates from reputable accountants or CPAs to compare.
• Verify their credentials using the CPAverify lookup tool.
• Read local accountant and CPA firm reviews on Lawful and Google.
• Ask them for references from past clients.
• Ask about what services they offer and confirm their fee structure.

Asking the following questions to help you choose the best professional for your needs. Hire an accountant who answers your questions promptly and clearly.

• How many years have you been providing accounting services?
• What training and certifications do you have?
• Do you specialize in a specific area or industry?
• Do you give free consultations?
• What services do you offer, and how much do they cost?
• Do you charge by the hour, by the service, or by something else?