When you decide to say goodbye to your old accounting system a consulting accountant can manage the multi-stage process ahead. Bringing in an outsourced accountant is a great way to ensure that the migration will be done correctly to minimize the time and effort required to make a change of this magnitude and reduce headaches and hassles along the way. Find out how a consulting accountant can help throughout every stage of an accounting platform conversion:

Recent labor data reveals that average salary increases, which rose 4.4% in 2024 are only projected to rise by 3.9% (or 1.2% after adjusting for inflation) next year. This is good news for business owners considering 73% of US companies reported this year that their total 2024 payroll expenses (which included salaries, bonuses, benefits, and variable pay) exceeded their total 2023 payroll expenses. This cooling of year-over-year wage growth should ease that burden at least somewhat.

Additionally, in 2023 more than half of U.S companies reported having trouble attracting and retaining talent, but this year that has fallen to around one-third of employers. Helping in the effort to find and keep employees is a decrease in resignations and job hopping compared to last year. At this point, the overall job market seems to have largely stabilized.
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In fact, Federal Reserve Chair Jerome Powell has said, “The labor market, again, has moved into better and better balance to the point where I think you can now say it’s essentially no tighter than it was in 2019 before the pandemic.” This evidence tells us there is still a labor supply shortage in some areas, but slower economic growth has made the previously tight job market loosen over the last year.

As a business grows, staffing requirements increase as well.

​For smaller companies, each incremental hire becomes less critical because there is a wider system to support new employees.

​However, while the company is in its infancy every hire is vital.

Every day we talk with people who aren’t sure if they should hire an accountant full-time or use a part-time accounting service. As an accounting provider helping them to answer this question is something that we really take pride in doing because it allows us to assist small and mid-sized business leaders in a way that’s truly meaningful to the future of their organizations.
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We’re going to walk you through the types of questions we ask and information we provide when having this kind of discussion with business owners and hiring managers to get you thinking about which resource will best fit your needs. If you would like to speak to someone about your specific business needs, reach out to us for a complimentary consultation today! Let’s dive deeper into understanding how a fractional accounting role differs from a full-time accountant and when you need which to achieve your business goals!