Outsourced Accounting Services Buffalo NY: Complete Guide for Growing Businesses

A Buffalo-based law firm with three partners and twelve employees was spending 15 hours per week on accounting tasks. One partner handled accounts payable, another managed payroll, and a paralegal reconciled bank statements. None of them were accountants — and all of them had better uses for their time.

Tax season was chaotic, cash flow was unpredictable, and they had no clear picture of which practice areas were profitable. Hiring a full-time accountant would cost over $60K per year, but there wasn’t enough work to justify the expense.

This is exactly the problem outsourced accounting services solve. Instead of hiring internal staff, you partner with an accounting firm that manages your books, reporting, and financial operations on a flexible, outsourced basis. You get professional-grade accounting at a fraction of the cost — and you free up your team to focus on what actually drives revenue.

According to Deloitte, more than 50% of small and mid-sized businesses now outsource at least part of their accounting, and that number keeps growing. The reason: outsourced accounting is more cost-effective, scalable, and accurate than doing it in-house without dedicated finance expertise.

This guide breaks down everything Buffalo business owners need to know about outsourced accounting — what’s included, what it costs, when it makes sense, and how to choose the right local partner.

What Are Outsourced Accounting Services?

Outsourced accounting (also called virtual accounting or accounting-as-a-service) means hiring an external firm to manage your financial operations instead of employing full-time staff.

What’s Included

Outsourced accounting typically covers:

Bookkeeping and Transactions

• Accounts payable and receivable

• Bank and credit card reconciliation

• General ledger management

• Expense categorization

Financial Reporting

• Monthly, quarterly, and annual statements (P&L, balance sheet, cash flow)

• Custom management or investor reports

• KPI tracking and dashboards

Payroll Processing

• Payroll calculation and direct deposit

• Payroll tax filing and compliance

• W-2 and 1099 preparation

Tax Compliance and Planning

• Sales tax filing and remittance

• Quarterly estimated tax payments

• Year-end tax returns and strategic tax planning

Cash Flow Management

• Forecasting and working capital analysis

• Billing, collections, and vendor management

Systems and Controls

• QuickBooks, Xero, or NetSuite setup

• Internal controls documentation

• Audit support and compliance

The scope varies — some businesses outsource bookkeeping only, while others outsource everything from data entry to fractional CFO-level strategy.

Outsourced vs. In-House Accounting

Most companies find outsourcing more cost-effective until they reach $10–$20M in revenue or need a fully staffed finance department.

Why Buffalo Businesses Outsource Accounting

Outsourcing has become the default for small and mid-sized companies across Western New York — and for good reason.

1. Major Cost Savings

A full-time Buffalo accountant costs $60K–$90K/year, plus benefits and payroll taxes.
A controller costs $80K–$120K, and total in-house costs can easily exceed $100K annually.

By comparison, outsourced accounting costs $1,500–$5,000/month — or $18K–$60K per year — for access to an entire team.

2. Access to Specialized Expertise

When you outsource, you get a full bench of bookkeepers, accountants, and tax specialists who work together. That means better accuracy, more insight, and fewer surprises during tax season.

3. Scalable and Flexible

Need extra help during year-end or when expanding locations?
Outsourced accounting scales with your business — no hiring or layoffs required.

4. Focus on Growth

Every hour spent reconciling bank statements is an hour not spent on sales or operations.
Outsourcing frees up your time so you can focus on what matters most.

💡 Pro Tip: The average business owner spends 10+ hours per week on bookkeeping. Outsourcing reclaims over 500 hours per year — time you can reinvest in growth.

What Do Outsourced Accounting Services Cost in Buffalo?

Pricing depends on transaction volume, number of accounts, and reporting needs.

Common Pricing Models

1. Monthly Retainer ($1,500–$5,000/month) — Predictable fee based on volume and scope.

2. Hourly Billing ($50–$150/hour) — Pay only for time used; ideal for minimal needs.

3. Per-Transaction Pricing — Billed per transaction (less common).

Typical Pricing by Business Size

Cost Drivers:

• Transaction volume

• Number of accounts/entities

• Inventory, job costing, or multi-location needs

• Reporting frequency

• Software stack

When Should You Outsource Accounting?

You should consider outsourcing if:

• You spend 10+ hours/week on accounting tasks

• Your books are disorganized or behind

• You can’t easily answer “Are we profitable?”

• Tax season is stressful or delayed

• You’re preparing to fundraise or apply for financing

• You’re growing faster than your in-house capacity

Industries That Benefit Most

How to Choose the Right Outsourced Accounting Provider in Buffalo

Questions to Ask

1. What industries do you specialize in?

2. What’s included in your monthly fee?

3. What software do you support?

4. How quickly do you close the books?

5. Who will I communicate with directly?

6. Can you share client references?

7. How do you handle busy seasons or special projects?

Red Flags

• Ultra-low pricing ($500/month “full service”)

• No local presence or unclear scope

• Poor communication during sales process

• 100% offshore staffing

• Hidden fees or vague estimates

Why Local Buffalo Expertise Matters

Working with a local firm means:

• Familiarity with New York State tax laws

• Local banking and lending relationships

• Knowledge of Buffalo’s business ecosystem

• Awareness of regional employment and payroll laws

Exact Partners is based in Williamsville, NY, with deep roots in Western New York.
We understand the financial, tax, and regulatory challenges Buffalo businesses face — and tailor every engagement accordingly.

Outsourced Accounting vs. DIY Software

Many businesses combine the two — using QuickBooks with outsourced oversight — for the best balance of cost and accuracy.

What to Expect When You Outsource

Onboarding (Weeks 1–4)

• Kickoff meeting

• System access and setup

• Cleanup of historical data

• Process mapping and reporting templates

Ongoing Operations (Monthly Cycle)

• Week 1: Reconciliation and payroll

• Week 2: Close books and prepare reports

• Week 3: Review financials

• Week 4: Payables, tax filings, adjustments

Quarterly & Annual

• Estimated tax payments

• Year-end close and return prep

• Strategic reviews and planning sessions

Communication

• Dedicated account manager

• Real-time dashboard access

• Weekly or biweekly touchpoints

Exact Partners: Buffalo’s Trusted Outsourced Accounting Team

When you work with Exact Partners, you get:

✅ Comprehensive Accounting Services

• Bookkeeping & transaction management

• Payroll, AP/AR, and tax compliance

• Cash flow forecasting and management

• Financial dashboards & reporting

✅ Industry Expertise

• Franchises, law firms, startups, and private equity

• Multi-location and professional services experience

✅ Integrated Support

• Fractional CFO options

• Strategic tax planning

• Financial system implementation

✅ Local Knowledge

• Based in Williamsville

• Deep understanding of the Buffalo market

• NYS tax and compliance experience

✅ Transparent Pricing

• Retainers starting at $2,000/month

• Clear scopes — no hidden fees

• Scales as your business grows

Final Thought

Outsourced accounting gives Buffalo businesses enterprise-level financial clarity without the cost or hassle of hiring in-house.

Whether you’re a startup, law firm, or growing SMB, outsourcing your accounting is faster, more cost-effective, and more scalable than managing it internally.

Choose a partner with proven experience, transparent pricing, and local expertise — like Exact Partners.
Your books are the foundation of every great decision — make sure they’re in expert hands.