How Much Does an Accountant Cost?

When you’re running a business, understanding costs – even, ironically, accounting costs – is crucial for planning and financial health. So, how much does an accountant cost?

Accountant fees can range from a few hundred Australian dollars per month for basic services to several thousand for comprehensive, ongoing support. The exact figure depends on your business size, complexity, and the level of professional guidance you require.

Below, our business accountants have outlined the typical cost of an accountant for a small business, medium business, or large business in an Australian context, outlining what’s usually included at each level.

The Cost of an Accountant for Different Business Sizes

The cost of an accountant for small business owners, as well as medium and large enterprises, varies based on the scope of work and industry requirements. Smaller ventures may only need essential compliance services, while larger organisations often require strategic financial management and ongoing advisory support. We’ll use an example of three tiers of service – Basic, Extra, and Enterprise – to illustrate how inclusions and pricing scale with business size.

Cost of an Accountant for a Small Business

For a small business, the cost of an accountant often aligns with a basic package that typically includes:

• Preparation of financial statements
• Completion and lodgement of income tax returns
• Quarterly activity statements (BAS)
• Annual payroll and PAYG payment summaries
• Support queries for routine financial questions

This level of service covers essential compliance, helping ensure your business meets its tax and reporting obligations without placing a significant strain on your budget.

Cost of an Accountant for a Medium Business

A medium-sized enterprise may benefit from an extra package that goes beyond the basics and offers more detailed insights and additional compliance support. Services often include:

• Preparation of financial statements
• Completion and lodgement of income tax returns
• Quarterly activity statements (BAS)
• Annual payroll and PAYG payment summaries
• Support queries for routine financial questions
• Annual ASIC company statement management (including fee payment)
• Monthly management reports for insights into profitability, cash flow, and trends

This enhanced level of service provides both compliance and regular analytical updates, helping you make informed decisions as your business evolves.

Cost of an Accountant for a Large or Corporate Business

For large companies or corporate entities, the enterprise package provides a strategic, hands-on approach. It typically includes a comprehensive suite of services, ensuring you have both foundational support and high-level advisory:

• Preparation of financial statements
• Completion and lodgement of income tax returns
• Quarterly activity statements (BAS)
• Annual payroll and PAYG payment summaries
• Support queries for routine financial questions
• Annual ASIC company statement management (including fee payment)
• Monthly management reports for insights into profitability, cash flow, and trends
• Monthly virtual CFO meetings (in person or online) for strategic financial guidance
• Monthly and quarterly activity statements with enhanced reporting

This tier ensures that large businesses receive comprehensive guidance, helping maintain a competitive edge and supporting complex organisational structures, strategic growth initiatives, and long-term financial planning.

Additional Factors Influencing Accountant Pricing

Apart from business size, several factors can affect how much does an accountant cost:

• Industry Complexity: Certain sectors require specialised knowledge or adhere to unique regulations, which can increase accounting fees.
• Frequency of Services: Continuous monthly support is usually more expensive than annual or quarterly assistance, as it involves more regular oversight and timely advice.
• Scope of Work: Adding bookkeeping, payroll services, advisory sessions, or special projects can increase overall costs.

The Value of Local Expertise and Professional Judgement

While technology can automate routine tasks, professional judgement, compliance expertise, and personalised advice remain indispensable. A local accountant or bookkeeper familiar with Australian regulations, market conditions, and industry standards can:

• Ensure your business remains compliant with ATO and ASIC requirements
• Offer tailored advice based on local market insights
• Enhance decision-making through practical strategies aligned with your business goals

Conclusion

So, how much does an accountant cost? From small businesses needing essential compliance, to medium enterprises requiring regular analytical updates, and large corporations seeking strategic financial guidance, options exist at varying price points and service levels. By understanding the inclusions at each tier and assessing your business’s specific needs, you can select an accountant who offers not just number-crunching but genuine value.

By investing in the right professional partner, you gain access to expert advice, compliance assurance, and strategic insights. This support can ultimately guide growth, safeguard your interests, and foster sustainable financial health in the Australian market.