Frequently asked questions.
Straight answers about pricing, onboarding, and how outsourced accounting works with CBO.
How much does accounting service cost?
Every business is different, so pricing depends on your transaction volume, number of accounts, payroll needs, and other factors. Most small businesses in Minneapolis pay between $800–$2,500/month for full-service accounting. Use our pricing calculator to get an instant estimate in 2 minutes.
Is the estimate from the calculator exact?
The calculator gives you an estimated range based on your answers. Your exact price will be confirmed during a 15–20 minute discovery call. We’ll review your specific situation and make sure the estimate is accurate.
Are there any hidden fees?
No. Your monthly fee includes everything we discussed during your discovery call. If there are any add-ons or extra services, we’ll tell you upfront and get your approval before doing the work.
Can I change my service level later?
Yes. As your business grows, your accounting needs will change. You can upgrade (or downgrade) your service level at any time. We’ll adjust your monthly fee accordingly.
Do you offer discounts for prepayment or annual contracts?
Yes. We offer a 10% discount for annual prepayment. Let us know if this is something you’re interested in.
What payment methods do you accept?
We accept bank transfer (ACH), credit card (Visa, MasterCard, Amex), and debit card. Invoices are sent monthly and due on net 15 terms.
Can I cancel my service at any time?
Yes. Most clients can cancel with 30 days’ notice. We want you to stay because you’re happy with our service, not because you’re locked into a contract.
What if I need catch-up bookkeeping?
If your books are behind, we’ll quote catch-up work separately. Typical catch-up projects range from $500–$3,000 depending on how far behind you are and how many months need to be caught up.
Can you take over my bookkeeping mid-year?
Yes. We regularly help businesses switch from their previous accountant mid-year. We’ll review your current books, identify any gaps, and get everything up to speed. There may be an additional fee for cleanup if your books are significantly behind.
What accounting software do you use?
We work with the software you’re already using (QuickBooks Online, Xero, etc.). If you’re not using any software yet, we’ll help you choose the right one for your business.
Do I still need a tax preparer?
Your monthly fee includes year-end tax readiness and books cleanup. We can also prepare your business and personal tax returns (additional fee). Or we can work with your existing tax preparer and provide them with everything they need.
Do you work with businesses outside Minneapolis?
Yes. While we’re based in Minneapolis and serve the Twin Cities area, we work with businesses across the United States via video calls and secure communication tools.
What’s the difference between bookkeeping and outsourced accounting?
Bookkeeping focuses on recording transactions and reconciling accounts. Outsourced accounting includes bookkeeping plus tax planning, financial reporting, and advisory support—everything you need to run your finances without hiring an in-house team.
How do you communicate with clients?
Most communication happens via email or phone, depending on your preference. You’ll have ongoing access to your bookkeeping team and can reach out with questions anytime. We also offer monthly or quarterly review meetings (included in higher-tier packages).
When can I expect my monthly reports?
You’ll receive your financial statements by the 15th of each month for the prior month. For example, January reports will be delivered by February 15th.
What’s the difference between tax planning and tax preparation?
Tax preparation is filing your return based on what already happened. Tax planning is working throughout the year to legally reduce your tax bill before you file. Preparation looks backward. Planning looks forward.
What’s the difference between a CFO and a controller?
A controller focuses on historical accuracy: clean books, accurate financial statements, compliance. A CFO focuses on the future: strategy, planning, analysis, and decision support. You need both, but at different stages of growth.
Which industries do you work with?
We tailor our services to your industry: real estate investors and property management; restaurants, bars, and food businesses; construction and trades; trucking and transportation; professional and personal service businesses; and retail, grocery, and food markets.
Do you handle job costing and WIP reports?
Yes. We’ll set up job costing so you can track costs by job. We’ll prepare WIP reports monthly so you know your percentage complete and profitability on each job.
Do you handle partnership tax returns?
Yes. We file Form 1065 partnership returns and prepare K-1s for all partners. We’ll help you design partner compensation structures that optimize taxes.
Can you track billable hours and WIP?
Yes. We’ll set up systems to track billable hours, WIP, and revenue recognition. You’ll see realization rates and collection rates.
How much does accounting service cost?
Every business is different, so pricing depends on your transaction volume, number of accounts, payroll needs, and other factors. Most small businesses in Minneapolis pay between $800–$2,500/month for full-service accounting. Use our pricing calculator to get an instant estimate in 2 minutes.
Is the estimate from the calculator exact?
The calculator gives you an estimated range based on your answers. Your exact price will be confirmed during a 15–20 minute discovery call. We’ll review your specific situation and make sure the estimate is accurate.
Are there any hidden fees?
No. Your monthly fee includes everything we discussed during your discovery call. If there are any add-ons or extra services, we’ll tell you upfront and get your approval before doing the work.
Can I change my service level later?
Yes. As your business grows, your accounting needs will change. You can upgrade (or downgrade) your service level at any time. We’ll adjust your monthly fee accordingly.
Do you offer discounts for prepayment or annual contracts?
Yes. We offer a 10% discount for annual prepayment. Let us know if this is something you’re interested in.
What payment methods do you accept?
We accept bank transfer (ACH), credit card (Visa, MasterCard, Amex), and debit card. Invoices are sent monthly and due on net 15 terms.
Can I cancel my service at any time?
Yes. Most clients can cancel with 30 days’ notice. We want you to stay because you’re happy with our service, not because you’re locked into a contract.
What if I need catch-up bookkeeping?
If your books are behind, we’ll quote catch-up work separately. Typical catch-up projects range from $500–$3,000 depending on how far behind you are and how many months need to be caught up.
Can you take over my bookkeeping mid-year?
Yes. We regularly help businesses switch from their previous accountant mid-year. We’ll review your current books, identify any gaps, and get everything up to speed. There may be an additional fee for cleanup if your books are significantly behind.
What accounting software do you use?
We work with the software you’re already using (QuickBooks Online, Xero, etc.). If you’re not using any software yet, we’ll help you choose the right one for your business.
Do I still need a tax preparer?
Your monthly fee includes year-end tax readiness and books cleanup. We can also prepare your business and personal tax returns (additional fee). Or we can work with your existing tax preparer and provide them with everything they need.
Do you work with businesses outside Minneapolis?
Yes. While we’re based in Minneapolis and serve the Twin Cities area, we work with businesses across the United States via video calls and secure communication tools.
What’s the difference between bookkeeping and outsourced accounting?
Bookkeeping focuses on recording transactions and reconciling accounts. Outsourced accounting includes bookkeeping plus tax planning, financial reporting, and advisory support—everything you need to run your finances without hiring an in-house team.
How do you communicate with clients?
Most communication happens via email or phone, depending on your preference. You’ll have ongoing access to your bookkeeping team and can reach out with questions anytime. We also offer monthly or quarterly review meetings (included in higher-tier packages).
When can I expect my monthly reports?
You’ll receive your financial statements by the 15th of each month for the prior month. For example, January reports will be delivered by February 15th.
What’s the difference between tax planning and tax preparation?
Tax preparation is filing your return based on what already happened. Tax planning is working throughout the year to legally reduce your tax bill before you file. Preparation looks backward. Planning looks forward.
What’s the difference between a CFO and a controller?
A controller focuses on historical accuracy: clean books, accurate financial statements, compliance. A CFO focuses on the future: strategy, planning, analysis, and decision support. You need both, but at different stages of growth.
Which industries do you work with?
We tailor our services to your industry: real estate investors and property management; restaurants, bars, and food businesses; construction and trades; trucking and transportation; professional and personal service businesses; and retail, grocery, and food markets.
Do you handle job costing and WIP reports?
Yes. We’ll set up job costing so you can track costs by job. We’ll prepare WIP reports monthly so you know your percentage complete and profitability on each job.
Do you handle partnership tax returns?
Yes. We file Form 1065 partnership returns and prepare K-1s for all partners. We’ll help you design partner compensation structures that optimize taxes.
Can you track billable hours and WIP?
Yes. We’ll set up systems to track billable hours, WIP, and revenue recognition. You’ll see realization rates and collection rates.
Still have a question?
Send us a message or call +1 952-230-5900. Monday – Friday, 9am – 5pm CT.