What’s the real cost to your business?
At first glance, bringing accounting in-house may seem like the most straightforward and cost-effective option. But have you considered all the expenses beyond just a salary? The real financial impact goes deeper than you might expect. Before committing to a full-time hire, it’s worth taking a closer look at the true costs—both visible and hidden—that come with managing your accounting internally.
Many organizations underestimate the true cost of in-house accounting functions. Hiring full-time employees involves not just salaries but also benefits. Additionally, the hiring process incurs costs such as recruiting and advertising costs, as well as overhead expenses such as office space, equipment, IT support, and software.
Hiring FTE accounting positions also involves many hidden or ‘soft costs’ beyond salaries and benefits. This includes the cost of employee turnover, which disrupts operations, reduces productivity, and adds rehiring and training expenses. Additionally, in-house bookkeeping and accounting can pose significant risks of errors, potentially resulting in penalties and financial losses.
Many organizations underestimate the true cost of in-house accounting functions. Hiring full-time employees involves not just salaries but also benefits. Additionally, the hiring process incurs costs such as recruiting and advertising costs and overhead expenses such as office space, equipment, IT support, and software.
Outsourced and managed accounting services from The CJ Group can help your organization increase quality and timeliness while reducing total costs by up to 85%. Let’s compare the actual costs:
Avg Salary- Bookkeeper
The salary range in DFW is $52k-$83k
Hard Costs [% of Salary]
Recruiting & Onboarding > 30-40%
Benefits + Taxes + Overhead > 1.2 - 1.5%
Salary + Hard Costs
$107,547 Average
Fully Loaded Cost of In-House Bookkeeper
$320,554 >Salary + Hard Costs + Soft Costs
$64,574 > Salary: Bookkeeper
Bookkeeper salary in DFW ranges from $52k – $83k. Staff accountants salaries average $78.8k, and Controller salaries average $138.8k*
$22,601 > Recruiting & Onboarding
Recruiting & training is typically 30-40% of salary.*
$20,372 > Benefits & Overhead
Benefits + Taxes + Overhead = 1.2 to 1.5% of salary on average.*
$107,547 > Hard Costs – Fully Loaded
$320,554
Fully Loaded Hard Costs + Hidden Costs
Outsourcing accounting services such as bookkeeping, controller, and CFP tasks provides small and mid-sized businesses with an innovative, scalable solution that lets you focus on your core business without the distractions of managing financial and accounting functions.
CJ has your back — and your books.
Let’s get started with a complimentary consultation to explore how The CJ Group’s managed accounting services can be the catalyst for your business growth.
Let us show you how we can deliver exceptional outcomes for your business.
Frisco Office
Fort Worth Office
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Frisco Office
Fort Worth Office
