10 Effective Strategies to Grow Your Accounting and Bookkeeping Firm in the USA

Demand for accounting and bookkeeping services in the USA is projected to reach $1.5 tn by 2032 with 9.2% CAGR. A bookkeeping firm can grow easily providing customized and specialized services.

All sizes of firms, companies, startups, and professionals are demanding for bookkeeping and accounting services in the USA. The complexity of financial regulations and changes in technology are driving the demand.

Lately virtual CFO, use of CRM, cloud based accounting software, finance automation, rise of fintech, use of predictive analysis are disrupting the finance industry as a whole.

Big four dominate the market but emerging accounting firms have the chance to flourish and gain foothold by keenly understanding the changing requirements and lack of big four to adapt quickly. Speed and agility can help new bookkeeping firms to gain a foothold in this cut-throat sector.

The focus on precision and regulatory compliance has made professional bookkeeping services indispensable.

In 2023, the accounting and bookkeeping services market size in the USA alone was valued at $676.73 billion (approx.) and is expected to grow to $804.27 billion by 2028.

The growing demand for accounting and bookkeeping services is a reflection of the dynamic and evolving business environment. 

In the USA, the demand for accounting and bookkeeping services is led by the rise of small and medium enterprises (SMEs) and startups that are burdened with stringent regulatory requirements, a very complex tax structure, too many tax codes, and accounting standards. A small firm often lacks the expertise and internal resources to keep up with such accounting and bookkeeping needs, thus outsourcing them and saving time and money is a better option.

What are Accounting and Bookkeeping Services?

In the USA, accounting and bookkeeping services include recording and classifying business transactions, maintaining accurate and updated financial records, including payroll, tax preparation support, auditing, financial advisory services, and ensuring compliance to regulatory and accounting standards like those laid down by IRS, SEC, GAAP, IFRS, etc.

Accounting and bookkeeping services ensure that the firm or client stays in adherence with the complex financial and taxation laws in the US and does not fall into any penalty due to any oversight, mistake, or just being unaware of the laws and regulations.

The accounting and bookkeeping firms in the USA provides following types of services to support strategic decision-making, ensuring compliance, meeting regulatory requirements:

  1. Bookkeeping Services: Routine recording of business transactions, updating and maintaining ledgers, reconciling accounts, project tracking, preparing quotes and estimates, inventory tracking, time-tracking, accrual accounting, and a dedicated bookkeeper as per the package or arrangement between the bookkeeping firm and the company or client.
  2. Payroll Services: A bookkeeping service also provides payroll services that deals with management of employee compensation. They usually provide automated accounting software and a dedicated bookkeeper. The services include employee onboarding, verification, salary calculations, tax withholdings, calculation of time-sheets, issuing paychecks, PTO approval, FICA, FUTA, and SUTA filing, employee tax calculation, and adherence to laws like Fair Labor Standards Act, Wage Discrimination Act, etc.
  3. Tax Preparation:Bookkeeping services helps in IRS examination and audit resolution, preparing and filing tax returns, accounting for income taxes, ESG strategy, filing for federal and local tax returns for both individuals and firms, sales tax filing, etc.
  4. Financial Auditing: Some bookkeeping firms also provide independent auditing i.e. examination and verification of financial statements, internal processes, and compliance standards met by the company or a firm according to the accounting standards and IRS guidelines. This helps in optimizing the internal financial processes and helps to restructure the financial department of a company and also meet statutory requirements too.
  5. Advisory Services: A bookkeeping and accounting firm provides industry specific experts or teams that offers strategic financial advice, helps in forecasting, budgeting, and financial planning. Being industry experts, they can provide custom advice and their expertise comes in much handy.

Service Offerings and Bundles

As an accounting and bookkeeping firm, you can provide the following types of service offering to meet diverse customer or client needs:

Usual Packages Offered by Bookkeeping Firms in the USA

Basic Services Package

Standard Services Package

Premium Services Package
1. Basic bookkeeping
2. Payroll Calculation
3. Tax preparation support
4. Use of accounting software
1. All basic package services included
2. Financial reporting
3. Compliance audits
4. A dedicated bookkeeper
5. Use of a cloud-based accounting software
1. All standard package services include
2. Financial advisory
3. Advanced tax strategies
4. Comprehensive financial management
5. Preparing budgets and financial planning

Value Additions and Specialized Services

Bookkeeping firm also provides specialized services to differentiate themselves from their competitors and add a unique selling proposition to their offerings:

  • Cloud-based solutions: Using cloud-based accounting software like Akounto, Quickbooks Pro, etc., for providing multi-user, multi-device, and real-time access to financial statements, enabling collaboration teams, and automatic updating of bank and credit card transactions in addition to usual bookkeeping services.
  • Cybersecurity assessment: Auditing internal computers, servers, and workflow patterns to proactively spot any vulnerabilities, establishing best practices, taking data backup, etc., to maintain the security of financial information.
  • Forensic accounting: Many bookkeeping services help detect fraud, mistakes, and financial discrepancies. This is a specialized domain within accounting; there are certified forensic accountants for this service.
  • Managerial accounting: Generating reports for decision-making and optimizing business functions is an important objective in managerial accounting. It includes interpreting the data, presenting it in understandable charts, diagrams, simple reports, etc., helping to analyze reports, and offering advisory services.
  • Data cleanup services: Due to the limitations of the in-house capabilities, the company may have inaccurate data due to human errors like miscalculation, duplicate entries, wrong posting, etc. The bookkeeping firm cleans the financial data of all kinds of accounting errors and gives you accurate reports.
  • Catchup accounting: As a startup, you may not have maintained financial records from the start and had random receipts, bills, invoices, etc. at hand. The bookkeeping firm will help build your financial data from the start. The catchup bookkeeping  helps in meeting regulatory demands and maintaining finances for investors, venture capitalists, etc.
  • Technological Integration: Setting up automation for routine tasks to minimize repetitive work, using AI to identify any errors or anomalies in financial data, and big data analysis for medium and large companies.

10 Ways to Grow Your Accounting and Bookkeeping Firm

Effective Strategies to Grow Your Accounting and Bookkeeping Firm in the USA

Client recruitment strategies

Digital advertising, networking and partnerships, value-added services, referrals, and social media use are some of the most effective client recruitment strategies for an accounting and bookkeeping firm.

Regular and effective client recruitment is the key to growing an accounting firm and sustaining business operations. You can launch targeted online campaigns on Google focusing on a certain geography, type of business, or services or any combination of these.

Many bookkeeping firms showcase their expertise on social media platforms like LinkedIn, Medium, etc. or maintain their blog on their website where they post articles and case studies. The homepage of websites like QuickBooks, FreshBooks, Akounto, Wave, BDO USA etc. also features customer testimonials, success stories, specialized services, etc. This helps in increasing the visibility and showcasing the expertise leading to client acquisition.

Build partnerships and strategic relations with professionals like financial advisors, attorneys, tax experts, fin-influencers, local business chambers, industry associations, etc., for referrals. Firms like Grant Thornton LLP, which has many industry associations, implemented a similar strategy, which provides a good scope of referrals and also enhances the firm’s reputation.

Establish your firm as a thought leader by hosting free seminars, webinars, etc., where you educate and offer free advice related to new regulations, changes in laws or accounting standards, etc., helping to attract potential clients.

Upselling and Cross-selling

A bookkeeping firm offers additional services to existing clients to increase revenue. Upselling is offering higher-end services to the clients than the one they are buying, while cross-selling is offering a complementary service, making the package more comprehensive and value-oriented.

Research by KPMG has shown that an accounting firm can increase its revenue by offering analytics and advisory services to its clients who have subscribed to a basic services package.

For upselling and cross-selling, trust and a relationship should be established between the client and the service provider. This is especially true when the client is looking to improve their financial health or is a little short of buying the higher package, or when there is a new regulation or law requiring additional reporting.

Cross-selling is more successful towards the end of the financial period or during tax filing when a complementary service or a bundled benefit over the primary purchase can speed up the services. For example, the accounting firm can offer audit, tax review, payroll audit, consulting, and tax credit support to the basic package subscribers. It increases the scope of work.

Packaged Services

Give cost advantage and convenience to clients by offering a cohesive offering in terms of bundled accounting services.

Packaged or bundled services lowers the combined cost of services than those if purchased individually. This strategy has four advantages:

  1. Customers will get a host of services under one roof and have to deal with only one bookkeeping service provider.
  2. Bundling makes the offerings affordable for customers.
  3. Having a single service provider will help in getting specialized services.
  4. Clients view bundled services as a value-for-money proposition.

For a new CPA firm, providing bundled service is one of the smart ways to penetrate a market, building a client base, and offering a competitive price. Additionally, a well-structured package caters to diverse needs and establishes your bookkeeping firms as reliable and hassle-free providers of all the bookkeeping needs for a business.

Niche Approach

Industry-specific accounting, client-specific bookkeeping, fundraising assistance, tailored accounting, etc., are some of the niche approaches to growing your accounting firm. 

The niche approach in accounting services has the following benefits:

  1. A dedicated customer base.
  2. Establishes expertise, visibility, and trust.
  3. Increases the chance of referrals.
  4. Specific target market in terms of industries and client types.
  5. Helps new accounting firms to gain a foothold in the competitive market.
  6. Helps in building a reputation.
  7. Attracts clients seeking specialized services.

Examples of niche accounting services are:

  • Accounting and bookkeeping services in the USA for SaaS companies, i.e., SaaS accounting in the USA.
  • Healthcare accounting for medical practitioners, hospitals, clinics, etc.
  • Nonprofit accounting services for NGOs, charities, and similar organizations that require special accounting policies.
  • Fiduciary accounting services for trusts and estates.
  • Forensic accounting services to detect any frauds, mistakes, errors, discrepancies, etc.
  • Environmental accounting services for companies in the sustainability and renewable energy sector.
  • Cannabis accounting services cater to businesses operating in the production and processing of cannabis, which is regulated by special laws and has a different reporting framework.
  • Bookkeeping services and services related to R&D tax credits, financial modeling, etc., for tech startups.

Robust Tax Support

New accounting and bookkeeping firms can quickly build a customer base by offering tax services, helping clients meet compliance requirements, tracking changes in tax laws and regulations, filing tax credits, and representing clients in audits.

Offering comprehensive tax services provides a one-stop solution for small businesses to help bookkeeping services attract and retain clients. One example is the wide spectrum of tax services provided by Deloitte, which also includes international taxation, tax risk management, and tax advisory services. Deloitte also offers cross-selling services like investment advisory, industry analysis, market research, etc.

Small bookkeeping services firms specialize in state and local taxation advisory services, industry-specific tax planning, individual tax filing, tax representation, etc.

Accounting and bookkeeping firms can integrate tax services using finance automation techniques, AI-driven tax software, etc., to gain a competitive edge.

Harness Technology

As most clients are adopting digital technologies, it is beneficial to offer technology-based accounting and bookkeeping services. Technological tools help scale up operations, service many clients, provide real-time support, improve accuracy, and streamline operations.

Accounting Software

Accounting software like QuickBooks, Xero, Wave, and Akounto offers automation for repeated tasks and provides accurate and efficient accounting. Accounting software has many inbuilt features, such as the chart of accounts, the option to link with bank accounts to update transactions, the option of single—and double-entry bookkeeping, accrual and cash-based accounting, and advanced features like tax preparation, report generation, etc.

Many accounting software also offer integration with third-party applications like Stripe, Paypal, etc., to enable payments. Similar integration offers linking with applications for getting payroll, time-tracking, expense tracking, and similar features.

SaaS Based Financial Services

SaaS (Software as a Service) allows bookkeeping firms to offer affordable services, provide real-time support, work efficiently, service a large number of clients cost effectively, and offer services while on the move.

Companies like Zoho Books, FreshBooks, Akounto, etc. offer SaaS based or cloud-based accounting software. The major advantage is in terms of cost. You pay only what you use and can extend the features and capabilities as per the workload. Another advantage is the option to scale up or down as per the ongoing operations. They are based on subscription models and do not require any upfront payment. Additionally they all provide robust customer support too.

SaaS based accounting software is being widely used by small and medium businesses, freelancers, and professionals. Being online, also allows for automatic updates and scheduled backups, thus providing latest software with cloud grade data security.

Being online, you can connect bank accounts and credit cards to update transactions. It makes reconciliations easy and prompt, you can also automate recurring invoices, add users, control their level of access, do time tracking and expense management too.


Management Information Systems (MIS), Accounting Information Systems (AIS), and Decision Support Systems (DSS) are employed by large corporations. They are enterprise wide software or applications that link various processes. Bookkeeping and accounting are their primary data and they support strategic decision-making and financial management.

SAP ERP is an accounting information system (AIS) and Oracle E-Business Suite is a Decision Support System (DSS). AIS integrates financial data of all the business verticals while the DSS helps in predictive analysis. 

A bookkeeping firm can build capabilities around working on these software, processing data, and doing audits using an ERP.

Marketing Approach

Marketing for a bookkeeping firm means, being visible, ability to showcase technical expertise, communicate your packages and unique selling proposition (USP), building trust and relationship, and driving demand for your services, and positioning your offering in the market. Long term relations, brand, and trust can be built via social media and content marketing, while short term can be achieved via paid marketing.

Engage Social Media

Big four like PwC, Deloitte, KPMG, and EY regularly publish articles, blogs, industry research, and case studies to establish expertise, get visibility, and showcase professional competence. Many other bookkeeping firms also post on platforms like LinkedIn, Facebooks, Twitter, and even Youtube. 

All this helps to attract new clients, build relationships, build brand awareness, and build a recall value in the minds of customers.

Content Marketing

Blogs, whitepapers, webinars, case studies, research insights, downloadable materials, references etc., help to engage and attract the relevant audiences. It helps to establish thought leadership in the industry and establish as an industry leader.

Posting high-quality content for a long and consistent time builds trust and relationship with the customers thereby reducing the overall marketing cost in the long run.

The bookkeeping firm can write and publish articles on accounting, taxation, business expansion tips, etc., to drive quality traffic on the website.

Paid Advertising

Paying to promote your service or brand in social media, search engine marketing (SEM), building an advertising campaign, promoting specialized services,  etc. are ways to quickly gain market traction and attract clients seeking bookkeeping services in the USA.

An accounting firm can grow rapidly by using paid advertising as it allows you to reach a larger audience, generate hot leads and can easily increase sales conversions. The firm must do their homework before launching a paid advertising campaign. They must ready their service chain, build a robust service network, and arrange to provide robust and quality services. Hiring a content manager, an SEO marketer, and a performance marketing team can easily help a bookkeeping firm to expand their client base.Google Ads and LinkedIn Sponsored Content are effective tools for targeting specific demographics and industries.

Client Satisfaction to Client Delight

Aim is to exceed client expectations and deliver a memorable experience by proactive communication, personalized services, consistently delivering high-quality service, and making clients feel safe in expert hands.

Research by PwC finds that there is a 25% increase in client referrals if a bookkeeping firm can provide a customized tax advisory service. Deloitte focuses on maintaining regular communication, and offering additional value added services.

Customer delight helps in maintaining high retention rates, client referrals, organic growth, dedicated customer base, and loyal relationships leading to the growth of an accounting firm.

Continuous Market Research

With the changes in regulations, customer segments, demands and expectations, offering by the competitors, change in technology, an accounting and bookkeeping firm can remain competitive and responsive.

Ernst & Young periodically conducts market research to identify trends, demands, services, changes in regulatory requirements, etc., to tailor their services as per customer demands. McKinsey in a study found that 30% chances of customer acquisition are increased when you are always on your toes.

Offering innovative solutions and proactively responding to changing market dynamics ensures long term sustainability and growth.

Asset Lite Model

The asset lite model is beneficial for new accounting and bookkeeping firms as it minimizes investment while maximizing operational efficiency and portability. This approach helps bookkeeping firms to scale easily and commit finances for growth rather than routine expenses.

Working from a co-working place saves money rather than renting an expensive office. Using cloud-based accounting software like QuickBooks, Akounto, Xero, etc., will be more economical instead of buying separate licenses for desktop softwares.

In the words of Soniya Malik, the CEO and Founder of Akounto, “Small and new firms and startups must focus on managing their day to day operations effectively. It is the cash-flow that can sustain the firm. And this is not just limited to small firms, even the big giants like Lehman Brothers could not withstand liquidity crunch. Sometimes keeping the business running is more important, especially when you are building a product, brand, or you are in the midst of a price war.”

The asset lite model reduces the upfront cost and diverts the funds from where you can get higher return on investment. A new bookkeeping firm can deploy asset lite models and can considerably reduce the overhead costs, thereby enabling itself to offer competitive pricing and lowering the entry barriers and offers a quick market entry.

An additional benefit of asset light models is that the funds can be diverted to talent acquisition, investing in technology, and having operational agility.


Expanding bookkeeping services requires a robust and a comprehensive strategy on the part of new or growing firms. Leveraging modern technology, social outreach, and sound business principles is the key. Forming strategic relations can get you far, but the offering should be qualitative and backed by solid expertise.

Give experience and expertise so that the customer will like to come back and become a brand advocate. Building cost advantage, differentiation in terms of quality and specialization, adapting to a dynamic market helps an accounting firm to expand, attract customers, and increase revenue.
Visit Akounto’s blog section to learn more about accounting, bookkeeping, and finance.


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