Financial accounting as a service cost example - What does external financial accounting really cost?
Transparent insights into costs, services and real savings for entrepreneurs
Are you thinking about outsourcing your financial accounting, but don’t know exactly what it will cost you? In this article, we use concrete examples from our 15 years of experience to show you what external financial accounting really costs – and why the investment pays off for most companies.
How financial accounting as a service works at Konsultec
Before we get to the figures, let us explain what“Financial Accounting as a Service” actually means and what specific benefits it offers you.
What you receive from us
Complete takeover of your financial accounting:
- Recording and account assignment of all business transactions
- Posting incoming and outgoing invoices
- Account reconciliation and balance check
- Monthly BWA (business management analysis)
- DATEV export for your tax consultant
- GoBD-compliant archiving of all receipts
Your personal contact: No anonymous call center, but a dedicated accountant who knows your company and its special features. If you have any questions, you can reach them directly – without having to wait on hold.
Digital but personalized workflow: You simply photograph your receipts with our app or send them by e-mail. We take care of the rest. You automatically receive your BWA every month and can view your current figures at any time.
How a typical month works
- By the 5th of the month: you send us your receipts from the previous month
- By the 15th: We have recorded and reconciled all bookings
- By the 20th: You receive your BWA and all evaluations
- If required: short telephone call to discuss abnormal values
That’s it. While you take care of your business, we make sure your figures are right.
Realistic cost examples: What companies actually pay
Now to what really interests you: What does it actually cost? Here are three realistic examples from our customer base (names changed, figures are real):
Example 1 (12 employees)
Company data:
- Annual turnover: € 1.8 million
- 180 bookings per month
- 2 bank accounts, 1 cash register
- Standard business without special features
Monthly costs at Konsultec: from € 1,290 net
Included services:
- Complete financial accounting
- Monthly BWA with previous year comparison
- Account reconciliation and balance check
- DATEV export for tax consultants
- Personal contact person
- Digital document archiving
Mr. Mustermann says: “I used to spend 2-3 hours every evening with receipts. Now I just photograph them. The €1,290 is the best investment I’ve ever made.”
Example 2 (28 employees)
Company data:
- Annual turnover: € 3.2 million
- 320 bookings per month
- International business, different currencies
- Project business with complex cost allocation
Monthly costs at Konsultec: € 1,890 net
Additional services:
- Foreign currency postings
- Project-related evaluations
- Extended cost center accounting
- Weekly liquidity overview
The managing director reports: “We had been looking for an accountant for 6 months beforehand. The costs for personnel consulting, induction and salary would have cost us over €80,000 a year. At Konsultec, we don’t pay €23,000 and have expert know-how immediately.”
Example 3 (8 employees, family business)
Company data:
- Annual turnover: 650,000 €
- 120 bookings per month
- Lots of cash, daily cash closings
- Seasonal business
Monthly costs at Konsultec: 890 € net
Special features:
- Daily cash register entry
- Seasonal evaluations
- Support with stocktaking
- Simple, understandable BWA
The Schmidt family: “As a family business, it was important for us to have a fixed contact person. Digitalization worried us at first, but it works great. Our daughter now takes photos of the receipts – that’s it.”
What determines the costs?
Main factors for pricing:
- Booking volume (70% of the price)
- Under 150 bookings/month: from € 890
- 150-300 bookings/month: from € 1,290
- 300-500 bookings/month: from € 1,890
- Over 500 bookings/month: Individual prices
- Complexity (20% of the price)
- Standard transaction: Base price
- Foreign currencies: +15%
- Project accounting: +20%
- Several companies: +25%
- Additional services (10% of the price)
- Cost center accounting: +150 €/month
- Weekly reports: +80 €/month
- Dunning: +200 €/month
Financial accounting as a service vs. your own accountant – the honest cost comparison
Let us do the math honestly. Here’s the full cost comparison between an in-house accountant and our service:
The true cost of having your own accountant
Direct costs (per year):
- Gross salary accountant: € 54,000 (medium level)
- Employer costs (20%): € 10,800
- Workstation + equipment: € 3,600
- Software licenses (DATEV): € 2,400
- Further training: € 1,500
- Total costs: € 72,300 per year
Hidden costs:
- Recruitment + induction: € 8,000 (one-off)
- Vacation replacement: € 4,800 per year
- Sickness absence: € 3,200 per year (average)
- Protection against dismissal + risk of severance pay: Unquantifiable
Risks:
- Loss of knowledge upon termination
- No substitution in the event of failure
- Training costs without guarantee of retention
- Labor law risks
Financial accounting as a service at Konsultec
For a comparable company (250 bookings/month):
- Monthly costs: € 1,490 net
- Annual costs: € 17,880 net (€ 21,277 gross)
Included:
- Complete accounting team as backup
- Latest software and updates
- All training courses and certifications
- Substitution during vacation and illness
- Liability for all errors
- Immediate scaling with growth
Savings: €51,023 per year
That’s a saving of over €50,000 a year – and that’s without taking into account the hidden costs and risks.
But it’s not just about money:
Time savings: Our customers save an average of 12-15 hours per week that they previously spent on bookkeeping. At an hourly entrepreneurial rate of €80, that’s an additional €50,000 in opportunity costs per year.
Risk minimization: We are liable for all errors. If the tax office demands additional payments because we have made a mistake, we will cover these costs. This security is priceless.
Focus on core business: How many additional customers could you look after if you had 15 hours more time per week? For most of our customers, our service pays for itself with just one additional customer per month.
Reality check: When is it worth having your own accountant?
To be honest: from a purely financial point of view, almost never. From around 800-1,000 bookings per month (equivalent to around €8-10 million in annual turnover), having your own accountant can become economical – but then you need at least two to cover any shortfalls.
Having your own accountant makes sense if:
- you have very specific industry requirements
- you have over 1,000 bookings per month
- you want to use accounting as a strategic tool
- You like to manage and develop your own staff
For everyone else, external outsourcing is the more economical solution.
Calculate your individual costs
Would you like to know how much it would cost to outsource your financial accounting? You can find out here in 2 minutes:
Quick check: What would your bookkeeping cost?
Step 1: Count your monthly bookings
- Incoming invoices: ___
- Outgoing invoices: ___
- Bank entries: ___
- Cash bookings: ___
- Total: ___
Step 2: Evaluate your complexity
- [ ] Standard business (Germany only, one currency)
- [ ] Foreign currencies or international transactions
- [ ] Project business or cost center accounting
- [ ] Multiple companies or complex structures
Step 3: Desired additional services
- [ ] Dunning (+200 €/month)
- [ ] Cost center accounting (+150 €/month)
- [ ] Weekly reports (+80 €/month)
Your estimated monthly costs:
Less than 150 bookings: from € 890 net/month 150-300 bookings: from € 1,290 net/month
300-500 bookings: from € 1,890 net/month Over 500 bookings: Individual consultation required
For increased complexity: +15-25% on the base price
Your return on investment
Example calculation for a company with 200 bookings/month:
Your investment: € 1,490 net/month (€ 17,880 net/year)
Your savings:
- Own accountant: € 72,300 (full costs)
- Direct savings: € 54,420 per year
Additional benefit:
- 15 hours/week more time for your business
- No downtime risks in the event of vacation/illness
- Always up-to-date accounting standards
- Professional BWA for better corporate management
Ready for the next step?
You have seen that external financial accounting pays off significantly in most cases. But every company is different. That’s why we offer you:
Free 30-minute consultation:
- Analysis of your current accounting situation
- Calculation of your exact costs
- Identification of optimization potential
- Non-binding and without sales pressure
What you should bring with you:
- Your last BWA or an overview of your booking volume
- Questions about specific requirements
- 30 minutes for an honest conversation
Give us a call: 0221 / 221 2924 1780 Or write to us: info@konsultec.de
We’ll get back to you within 24 hours – that’s our promise.
About Konsultec: We have been supporting companies in Cologne and throughout NRW with their financial accounting since 2009. With over 120 satisfied customers and a team of 8 certified accountants, we are your reliable partner for professional financial accounting. DATEV-certified, ISO 27001 compliant, 100% made in Germany.
Reclaim 15 hours per week for your core business
While you look after your customers, we take care of all your financial accounting. Simply take photos of your receipts – our DATEV-certified experts will take care of the rest. You will receive your professional BWA by the 20th of each month, giving you time again for what really matters: Driving your business forward.
