For many small business owners, managing the books starts out as a side task. You send invoices, keep an eye on cash flow, maybe even dabble in QuickBooks on weekends. But as your business grows, so do the stakes. The DIY approach starts to eat into your time (and your confidence).

That’s when many business owners start to wonder: do I need a bookkeeper? An accountant? Or both?

Here’s what each role actually does, how much it might cost, and how to decide what makes sense for your business this quarter and beyond.

Bookkeepers Handle the Day-to-Day

If you’re overwhelmed by receipts, untagged transactions, or reconciling bank statements, a bookkeeper is probably what you need first.

Bookkeepers are responsible for organizing your financial data—recording transactions, handling payroll, managing accounts payable and receivable, and keeping your books up to date. They don’t prepare your tax returns or build a financial strategy, but they do give you the foundation to do both well.

If you’re not quite sure where your money is going each month, or if pulling together a profit and loss statement sounds painful, a good bookkeeper can be a game-changer.

Accountants Help You See the Big Picture

While bookkeepers track what’s happening now, accountants help you understand what it all means.

Accountants (especially CPAs) prepare your financial statements, file your taxes, and offer guidance on how to reduce your tax burden legally and efficiently. They can also help you analyze profit margins, forecast growth, and make decisions about things like entity structure, deductions, or expansion.

If you’re planning to raise funding, open a new location, or just want to understand where your business stands financially, an accountant can help you map out next steps with clarity.

What Does It Cost?

Pricing depends on complexity, location, and how hands-on you need someone to be.

Bookkeeping costs can range from around $500 to $1,000 per month if outsourced part-time. Some firms charge hourly (typically $50–$70), while others offer flat-rate packages. Hiring someone in-house? In NYC, that might run you $60K–$70K annually or more.

Accounting fees are higher, especially for CPAs. Expect rates between $150 and $400 per hour, depending on services and expertise. Tax return prep alone can cost anywhere from $300 for a Schedule C to $1,000+ for more complex business filings.

While the numbers might feel steep at first glance, it’s worth noting that these professionals often help uncover savings and avoid costly errors—easily justifying their fees.

When to Hire a Bookkeeper

You likely need a bookkeeper if:

• You’re spending hours every month on transaction tracking or invoice management

   

• You’re behind on reconciliations or unsure if your records are accurate

   

• Tax time means scrambling to organize a year’s worth of financial data

   

In short, if the day-to-day financial tasks are draining your time (and energy), a bookkeeper can bring order and consistency back into your workflow.

When to Bring in an Accountant

An accountant becomes essential when:

• You’re ready to start tax planning instead of just filing

   

• You need help understanding cash flow, margins, or profitability

   

• You’re facing decisions around entity structure, capital investment, or long-term planning

   

They’re not just for tax season. Many businesses consult with their accountants quarterly (or more) to make informed choices year-round.

Why Most Businesses Eventually Need Both

A bookkeeper keeps your house in order. An accountant makes sure your house is built on solid ground.

For growing businesses, having both in place can reduce risk, free up time, and improve long-term decision-making. Bookkeepers keep things running smoothly week to week, while accountants step in for deeper analysis, reporting, and compliance.

If you’re working with one but not the other, it might be time to consider rounding out your team.

How to Decide What’s Right for You

If you’re unsure where to start, here’s a quick gut check:

• Still doing everything yourself? Start with a bookkeeper.

   

• Need help interpreting financials or planning taxes? Start with an accountant.

   

• Doing both, and still feeling lost? It may be time to bring in both and let each focus on what they do best.

   

Either way, don’t wait for tax season to get organized. Making the right moves now can save you stress, and money, down the line.

As your business grows, so do the complexities of managing it. A good bookkeeper can give you time back in your week. A strong accountant can help you grow with confidence. Together, they form a financial support system that can evolve with your needs.

If Q3 feels like the right time to get this off your plate, The Holtz Group is here to help. Whether you’re ready to bring someone in, need a second opinion, or just want to explore what’s possible, we’d be happy to talk.

Let’s make sure your finances are working as hard as you are.