Keeping your finances clean and compliant is non-negotiable. But for many small businesses, hiring an in-house accountant just isn’t realistic. That’s where 3rd party accounting services come in.
They give you access to professional accounting support—without the cost or commitment of a full-time hire. From payroll to tax prep to strategic forecasting, third-party accounting solutions let you offload the heavy lifting and focus on what you do best.
📊 Need help finding the right support for your business? Contact Simplicity Financial today to get started!
What Are 3rd Party Accounting Services?
3rd party accounting services are outsourced financial tasks handled by external professionals or firms. Instead of hiring an in-house accountant or building an internal finance team, you delegate functions like:
- Bookkeeping
- Tax preparation
- Payroll
- Financial reporting
- Cash flow analysis
- Advisory and strategy
These services are often delivered by licensed CPAs or accounting firms. According to Finance Strategists, third-party accountants can bring cost savings, improved compliance, and a higher level of financial insight.
At Simplicity Financial, we specialize in these kinds of solutions for small businesses—helping owners stay focused on growth while we handle the numbers.
Why Use Third-Party Accounting?
Here’s why more small and mid-sized businesses are relying on third-party accounting:
✅ Cost Efficiency
Hiring full-time staff is expensive. With 3rd party accounting services, you only pay for what you need—whether that’s once a month or every week.
✅ Access to Expertise
Get the knowledge of seasoned CPAs without having to manage a team. You can even tap into fractional CFO services for strategic guidance without the executive-level salary.
✅ Scalability
As your business grows, your accounting needs evolve. Third party accounting services can scale with you—adding more support or shifting priorities as needed.
✅ Compliance and Accuracy
When it comes to taxes and reporting, mistakes are costly. Professional support ensures compliance with regulations and reduces your risk of errors.
Want to know how this compares to a traditional remote firm? Check out our guide to remote accounting firms to see which approach fits your business model.
Popular Types of Third-Party Financial Services
Third party financial services can cover a wide range of business needs. These are the most common ones:
1. Outsourced Bookkeeping
Basic but essential, this includes tracking income, expenses, receipts, and reconciling bank statements. Our outsourced bookkeeping services offer weekly and monthly support to keep your records audit-ready.
2. Tax Preparation & Planning
Forget scrambling during tax season. Our tax preparation outsourcing ensures accurate filings, maximized deductions, and year-round support for planning and compliance.
3. 3rd Party Payroll Services in Accounting
Processing payroll is time-consuming—and risky if done incorrectly. Many firms turn to 3rd party payroll services in accounting to ensure employees are paid on time and taxes are filed properly.
4. Financial Forecasting & CFO Strategy
If you’re navigating growth, funding, or market uncertainty, this is where strategy meets execution. Our fractional CFOs help you forecast cash flow, create budgets, and make data-driven decisions.
Third Party Risk Management in Financial Services
It’s important to understand the third party risk management financial services must consider. Handing over sensitive financial data requires trust and due diligence.
Before partnering with a service provider, ask:
- How do you protect sensitive financial data?
- Are your systems cloud-based and encrypted?
- Who will have access to our records?
- Do you follow GAAP (Generally Accepted Accounting Principles)?
A trusted firm like Simplicity Financial will provide transparency around tools, team access, and compliance. We use secure, cloud-based platforms to give you visibility while protecting your data.
Who Should Use 3rd Party Accounting Services?
3rd party accounting services are ideal for:
- Freelancers and contractors with growing income
- E-commerce businesses scaling quickly
- Real estate investors with multiple properties
- Startups without internal finance teams
- Nonprofits with complex grant reporting
- Local service businesses that want to save time
If you’re managing multiple accounts, contractors, or revenue streams, outsourcing can free up your bandwidth while improving accuracy.
Check out our blog to explore more topics on outsourcing, bookkeeping, and compliance for small business owners.
How to Choose the Right 3rd Party Accounting Provider
Not all third-party accounting providers are the same. Here’s what to look for:
- ✅ Services that match your exact needs
- ✅ A clear pricing structure (flat fee or hourly)
- ✅ Secure systems and data protection
- ✅ Strong communication and customer support
- ✅ Industry experience
If you’re ready to explore your options, we’re happy to help. We offer consultations to walk through your business and recommend the right level of support—no pressure, just clarity.
Is It Time to Go 3rd Party With Your Accounting? 🧠
Whether you’re buried in receipts or planning your next growth move, 3rd party accounting services give you the support you need—without the cost and complexity of building an in-house team.
At Simplicity Financial, we offer bookkeeping, tax planning, payroll, and CFO-level strategy. You get expert-level service, reduced financial risk, and the freedom to focus on what matters most.
📞 Contact us now to get started with the right third-party solution for your business.
FAQs About 3rd Party Accounting Services
What are 3rd party accounting services?
These are accounting tasks handled by external professionals, including bookkeeping, payroll, taxes, and strategy. They help businesses save time and reduce internal overhead.
Are third-party accounting services secure?
Yes—when you work with a trusted firm. Look for encrypted platforms, transparent access policies, and cloud-based systems for peace of mind. We use secure tools to protect every client’s data.
What are third party financial services for small businesses?
These include outsourced accounting, payroll, advisory services, and budgeting. They’re ideal for businesses that want expert help without building an internal finance department.
What are 3rd party payroll services in accounting?
These services manage employee pay, tax withholdings, and compliance reporting. They reduce risk and ensure your team is paid correctly and on time.
What is third party risk management in financial services?
This refers to how financial service providers handle risk when working with external vendors. It includes evaluating data security, regulatory compliance, and performance metrics.
Where is Simplicity Financial located?
We support clients across the U.S. with virtual services only. Find us on Google Maps to learn more or reach out here to book a consultation.
Disclaimer
This post is for informational purposes only and should not be considered financial, legal, or tax advice. Please consult a licensed accountant or financial advisor for personalized recommendations.
