General Questions
How much are fees and hourly charges?
We don’t charge by the hour as most accountants and lawyers do. We charge a single flat fee each month. No surprises!
What is your minimum monthly fee?
Our current minimum monthly fee is $600. Get in touch with us today to see how your business fits with our pricing plans.
What sets Bay Business apart from other accounting firms?
Our clients love us – we’re proud to retain the vast majority of clients for years upon years, building relationships beyond the office. Our flat pricing makes working with us predictable and dependable, ensuring you’ll be happy partnering with us for years to come.
Will my monthly cost ever go up?
We conduct a review after 90 days of joining us to see if prices need to change. Once every year beyond that, we assess our clients’ pricing plans. If your price changes, we will inform you promptly and far ahead of time.
Do you have long-term contracts?
We do not have long term contracts. We believe we have to earn our clients’ trust every month.
Is Bay Business Group a local DC accounting firm or a national provider?
Bay Business Group is based in the Washington, DC area and serves clients both locally and nationwide. Our proximity allows us to understand regional compliance, while our technology and team structure support remote organizations.
What does a fractional CFO actually do?
A fractional CFO provides high-level financial leadership without the cost of a full-time executive. This includes budgeting, forecasting, cash flow management, strategic planning, and decision support tailored to your business goals.
Is outsourced accounting better than hiring in-house?
For many organizations, outsourced accounting offers greater expertise, scalability, and reliability than a single in-house hire – without the overhead and risk of turnover.
What is the difference between tax planning and tax preparation?
Tax planning is a proactive, year-round process focused on minimizing future tax liability, while tax preparation involves filing returns based on past activity.
What is the role of a fractional controller?
A fractional controller oversees financial reporting, internal controls, month-end close, and accounting processes to ensure accuracy, compliance, and consistency.
Who do you work best with?
Small to midsize law firms that want consistent, accurate books and clear financial visibility. Firms that are ready to delegate invoicing, bookkeeping, trust accounting, and reporting so the partners can focus on clients and growth.
How is law firm accounting different from regular bookkeeping?
Law firms must follow specific trust (IOLTA) rules and ethics requirements that general small-business accounting overlooks. Revenue, retainers, and client costs must be diligently tracked for profitability and compliance purposes.
DCAA FAQs
Do small businesses need DCAA accounting services to win federal contracts?
Yes, small businesses seeking federal contracts, especially cost-reimbursable ones, benefit from DCAA accounting services. Compliance ensures eligibility, minimizes risk of payment delays, and builds trust with government agencies.
What should I look for when choosing a DCAA accounting service provider?
Look for providers specializing in DCAA requirements, with a proven compliance track record, strong technology expertise, responsive service, and the ability to tailor solutions to your business’s size and needs.
How can professional DCAA accounting support benefit my business?
Professional support reduces the risk of audit penalties, streamlines accounting processes, improves decision-making with real-time cost data, and enhances your reputation with federal agencies. It also frees up management to focus on business growth and strategic opportunities.
How do DCAA accounting services help prepare for audits?
DCAA accounting services offer audit readiness training, mock audits, and ongoing compliance monitoring. They help align your systems and documentation with current regulations so you’re well-prepared for DCAA audits and floor checks, reducing the fear of unexpected findings.
What are the key requirements for achieving DCAA compliance?
To achieve DCAA compliance, contractors must maintain an adequate accounting system, implement written policies and procedures, ensure timely and detailed recordkeeping, and establish robust internal controls. Meeting these standards helps minimize audit risks and enhances business credibility.
What are DCAA accounting services, and why are they important for government contractors?
DCAA accounting services specialize in helping businesses meet Defense Contract Audit Agency (DCAA) compliance requirements. They ensure accurate financial systems, proper cost allocation, and transparent recordkeeping—all of which are essential for securing and maintaining government contracts.