Frequently Asked Questions
What is outsourced accounting?
Outsourced accounting is the practice of having a specialized third-party team handle your company’s financial operations instead of hiring internal staff. It gives growing businesses access to professional expertise, technology, and processes at a predictable cost. See how our Outsourced Accounting services work.
What is an outsourced accounting department?
An outsourced accounting department is a dedicated external team that manages your day-to-day accounting functions — including transaction processing, customer invoicing, vendor payments, payroll, reporting, and forecasting. Learn more about our Accounting Department services.
Are you a CPA firm? Do you file taxes or do audits?
No. Basis 365 is not a CPA firm and we don’t file taxes or perform audits. We focus exclusively on outsourced accounting and bookkeeping. When customers need tax or audit support, we partner with trusted CPA firms to make sure those needs are covered.
Who is a good fit for Basis 365?
Our services are designed for growing companies — typically between $1M and $20M in revenue or with 5 to 100 employees. We specialize in working with agencies, consultancies, and software and technology businesses that need a scalable, professional outsourced accounting solution.
What services are included?
We handle transaction processing, accounts receivable, accounts payable, payroll, month-end close, management reporting, and budgeting and forecasting. Our goal is to give you timely, accurate financials that support better decision-making through outsourced accounting plans.
What results should I expect?
You can expect accurate and timely financial reports, proactive insights into cash flow and profitability, and a partner focused on performance. Our approach is designed to give you confidence in your numbers and clarity in your business decisions.
How much does it cost to outsource my accounting?
Our accountant plan can start as low as $1,500 per month and scale with the size and complexity of your business. Learn more about the cost of outsourced accounting and how it compares to hiring in-house.
Why is outsourcing my accounting cost-effective?
Outsourcing saves costs by eliminating the need for multiple full-time hires, benefits, and management overhead. You get a team of professionals with a wide range of expertise at a predictable fixed price — often for less than the cost of one internal employee.
Why is fixed pricing better than hourly pricing?
Fixed pricing gives you predictable monthly costs and aligns incentives with efficiency. Hourly billing often rewards inefficiency, while fixed pricing ensures your provider is focused on delivering results without surprises. Learn about our fixed monthly pricing model.
What’s the difference between outsourcing versus hiring?
Hiring in-house means you’re limited to one or two roles. With outsourcing, you get a flexible team with broader expertise, redundancy, and the ability to scale as your business grows. This provides more depth of knowledge and less risk than relying on a single employee. Compare outsourcing vs. hiring in detail.
Why is the depth-of-knowledge greater for outsourcing versus hiring?
An outsourced team brings experience from working with many businesses across industries. That exposure creates stronger processes, broader expertise, and insights you can’t typically get from one internal hire.
What are the pros and cons of outsourcing?
The main advantages are cost savings, access to a broader skill set, scalability, and business continuity. Potential drawbacks include less face-to-face interaction and reliance on an external team — which is why choosing the right outsourced accounting partner is critical.
What does my team look like?
Each customer has a dedicated team of four professionals covering daily work, reconciliations, and the monthly close. This ensures continuity and removes the single point of failure risk that comes with relying on just one person internally. Learn more about our dedicated accounting department structure.
What do you mean by business continuity?
Business continuity means your accounting work never stops because you’re not dependent on one employee. With an outsourced team, vacations, turnover, or absences don’t disrupt your financial operations.
Is outsourcing the same as offshoring?
No. Outsourcing simply means the function is handled outside your company. Some providers use offshore talent, others use U.S.-based teams, and some blend both. Our model focuses on building an effective, reliable team to support your business.
How does outsourcing work?
We integrate with your business virtually, using cloud-based systems to handle daily accounting tasks, monthly closes, and reporting. You get proactive communication and on-time delivery, just like you would expect from an internal department. See more about how outsourcing works.
How do you work with us day to day?
We operate 100% virtually and integrate with your team through platforms like Xero, QuickBooks, and other connected apps. Communication is proactive and responsive, and we prioritize delivering a quality product on time so you always know where things stand.
What industries do you specialize in?
We work primarily with professional services firms — including agencies and consultancies — and software and technology companies. Our reporting is tailored to industry needs, from job profitability for agencies to SaaS metrics for tech companies.
What makes Basis 365 different?
We’ve developed our P-R-O-F-I-T approach: Performance, Relationships, Optimization, Fractional, Integrated, and Timely. These six pillars guide how we deliver outsourced accounting, ensuring your business is supported with clarity, accountability, and measurable results.
What technology do you work with?
We use modern cloud platforms like Xero and QuickBooks as our core systems, along with integrated apps for AP, payroll, and reporting. This setup provides real-time visibility, automation, and accuracy across your accounting processes.
Do you support AR, AP, and payroll?
Yes. We manage customer invoicing, vendor payments, and payroll as part of our outsourced accounting services. This ensures your cash in and cash out processes run smoothly while keeping your team focused on growing the business.
How can I get a handle on my cash flow?
We track cash inflows and outflows with detailed reporting and forecasting. Our team helps you understand your drivers of cash, anticipate shortfalls, and make proactive decisions to keep your business on solid financial footing. See how we support cash flow management.
How do you help me improve cash flow and profitability?
We provide reporting and KPI tracking focused on cash and profit drivers. By monitoring receivables, expenses, and margins, we give you the insights and tools to improve liquidity, profitability, and financial performance over time.
How can outsourcing help me scale?
Outsourcing gives you a flexible accounting function that grows with your business. As your needs increase, you can add services or expand the team without the delays and costs of hiring internally. This scalability allows you to stay focused on growth.
Will this scale as we grow?
Yes. Our services are designed to grow with your business — from early-stage companies with a handful of employees up to mid-market businesses approaching 100 employees and $20M in revenue.
What guarantees do you offer?
We offer a Service Guarantee: if you’re unhappy and tell us before the next billing cycle, we’ll credit your account. We also provide a Price Guarantee: your fixed price covers the agreed scope, and any new work is discussed and approved before it begins. Learn about our service and price guarantees.
Where are you located and who do you serve?
Basis 365 is headquartered in Irvine, California, but we operate 100% virtually and serve customers nationwide. Our cloud-based approach allows us to work seamlessly with businesses across the U.S.
How do you partner with finance leaders?
We handle the day-to-day accounting so finance leaders and fractional CFOs can focus on strategy. We align on business goals and ensure they have reliable, timely data to guide decisions and drive growth.
What monthly plan is right for me?
The right plan depends on your stage of growth, revenue size, and needs. We offer flexible options that range from bookkeeping and accounting department support to CFO-level services, so you only pay for what your business actually needs. View our monthly plans here.
Why are proper financials important if I plan to sell my business?
Buyers and investors expect clean, accurate financials. Proper financials increase valuation, speed up due diligence, and reduce the risk of deals falling apart. Outsourced accounting ensures your numbers are ready when the time comes.
What should I look for in the Best Outsourced Accounting firm?
Look for a provider that offers scalability, industry experience, transparent pricing, proven processes, and a dedicated team model. The best outsourced accounting firm is one that integrates seamlessly with your business and helps you reach your goals.
What is a “strong” business?
A strong business is one with healthy cash flow, consistent profitability, scalable processes, and reliable financials that support growth and resilience. Our goal is to help every customer build a strong business that can thrive long term.
What are my alternatives to outsourcing?
Your alternatives are hiring in-house staff, relying on a CPA firm for daily work, or working with contractors. Each has pros and cons, but outsourcing provides the expertise and scalability of a full team without the management burden or cost of multiple hires.