How Many Accountants Should a Company Have

Determining the right number of accountants for your company is essential to ensure financial accuracy, maintain compliance, and support growth. Whether you operate in a fast-paced industry like aerospace or a startups, finding the right staffing balance is crucial. Overstaffing leads to unnecessary costs, while understaffing could expose your business to compliance risks and financial inaccuracies.

By the end of this guide, you’ll know how to build an accounting team that meets your business needs and drives growth.

Why the Right Number of Accountants Matters

Having the correct number of accountants impacts efficiency, accuracy, and financial stability. Both understaffing and overstaffing can create significant issues:

Risks of Understaffing: 

• Missed deadlines and reporting errors 

• Compliance penalties and fines 

• Overworked staff leading to burnout and mistakes 

• Poor financial insights, affecting decision-making 

Risks of Overstaffing: 

• Increased overhead costs 

• Reduced productivity due to overlapping responsibilities 

• Inefficient resource allocation 

Factors to Consider When Determining Accounting Team Size

Determining the right number of accountants for your company isn’t a one-size-fits-all approach. The ideal team size depends on a few core aspects of your business operations and financial landscape. Here are some key factors to consider: 

Company Size and Revenue

Generally, larger companies with higher revenue streams need more accountants. But even within that idea, needs can differ dramatically by size:

• Startups (1–10 employees): Often operate with 1–2 accountants or rely on a single outsourced resource. Tasks typically include basic bookkeeping, invoicing, and tax preparation. Consultants can also be considered to fill expertise gaps without committing to a full-time hire.

• Small businesses (11–50 employees): Require a broader scope including monthly financial statements and tax strategy. A mix of in-house and external support is common.

• Mid-sized companies (50–200 employees): Benefit from hiring full-time roles like controllers, payroll specialists, or tax managers. These businesses may also bring in consultants for project-based needs or peak seasons.

• Large enterprises (200+ employees): Need a comprehensive internal accounting department, often with niche roles focused on compliance, audit, forecasting, treasury, and financial planning.

Industry-Specific Needs

Industries like aerospace have unique accounting demands driven by their specialized projects and strict regulations. Their financial operations require a higher level of precision and oversight compared to other sectors. For instance:

• Project-based accounting to track contracts

• Compliance with government regulations

• Complex billing structures and audits

To meet these demands, companies in aerospace and similarly complex industries often require accountants with highly specialized expertise. Rather than generalist roles, these businesses benefit from professionals with titles tailored to their operational and regulatory landscape, such as:

• Senior Cost Accountant – Oversees inventory, production costs, and ERP system reporting Defense Contract Auditor

• Project Accountant (DCAA/FAR-focused) – Handles compliance and reporting for government-funded projects  

• Government Compliance Accountant / Senior Government Accountant- Ensures financial operations adhere to federal guidelines

• Tax Senior Accountant, Lead – Oversees complex tax planning and regulatory filings for large-scale operations

These roles are critical in ensuring accuracy, audit readiness, and financial transparency across every stage of a project lifecycle. The specialized nature of aerospace work demands deep familiarity with both industry standards and evolving government regulations.

Business Complexity

Companies with multiple locations, international transactions, or intricate financial structures require larger accounting teams to manage:

• Consolidated financial reporting

• Cross-border tax compliance

• Multi-currency accounting

Technology and Automation

Investing in accounting software and automation can reduce the need for a large accounting team. Cloud-based tools streamline: 

• Payroll processing 

• Invoicing and billing 

• Financial reporting 

However, technology complements rather than replaces skilled accountants.

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Accounting Team Sizes

Building the right-sized accounting team depends on several variables, such as company scale, operational complexity, and financial needs. Below is a general guide to help you understand what typical team sizes look like based on the size of your organization: 

• Startups: 1-2 Accountants 

Small businesses typically need: 

• Bookkeeper: Manages day-to-day financial transactions, bank reconciliations, and accounts payable/receivable. 

• General Accountant: Prepares financial statements and ensures tax compliance. 

• Mid-sized companies: 3-5 accountants.  

As operations grow, mid-sized businesses benefit from additional roles: 

• Controller: Oversees financial reporting and budgeting. 

• Tax Specialist: Manages tax strategy and compliance. 

• Payroll Specialist: Handles employee compensation. 

• Large enterprises: 10+ accountants. 

Large organizations often require specialized roles: 

• Financial Analysts: Analyze financial data to provide strategic insights and forecasting. 

• Internal Auditors: Evaluate internal controls and ensure compliance with regulations. 

• Cost Accountants: Monitor production costs and assist with budgeting and efficiency improvements. 

• Compliance Officers: Oversee adherence to financial laws, regulations, and internal policies. 

• Treasury Managers: Manage the company’s cash flow, investments, and financial risk.  

Staffing Tips for Building an Effective Accounting Team

Having the right accounting team in place isn’t just about filling positions, it’s about creating a strong, adaptable structure that supports your company’s evolving financial needs. Here are some actionable strategies to help you build and maintain an efficient accounting team: 

Hire for Specialized Roles

Recruiting professionals with specific expertise is vital: 

• Tax Accountants: Ensure compliance and develop tax-saving strategies. 

• Auditors: Monitor internal controls and reduce financial risks. 

• Financial Analysts: Provide data-driven insights for decision-making. 

Leverage Temporary or Contract Staff

During peak periods like tax season or audits, hiring temporary accountants can: 

• Manage increased workload 

• Minimize overtime costs 

• Maintain accuracy without long-term commitments 

Build a Scalable Team

Hire adaptable professionals who can grow with your business. A scalable accounting team allows you to: 

• Expand operations smoothly 

• Adjust roles as financial needs evolve 

• Avoid constant turnover 

Invest in Training and Development

Upskilling your team not only ensures they stay current with evolving industry standards but also empowers them to handle increasingly complex financial tasks. By investing in continuous learning, you strengthen your team's ability to navigate regulatory shifts and adopt modern financial practices with confidence. 

Below are some critical areas where continuous development can make a significant impact: 

• Regulatory changes 

• New accounting technologies 

• Industry-specific best practices 

Partner with a Staffing Expert

Averro specializes in staffing finance roles, offering customized solutions to businesses aiming to strengthen their accounting departments. Our deep industry expertise, particularly in sectors like aerospace, allows us to identify and place top-tier accounting professionals who possess both technical skills and a strong understanding of regulatory compliance. We focus on helping companies build resilient, scalable, and growth-oriented teams tailored to their unique financial and operational needs. 

How Averro Can Help You Build the Perfect Accounting Team

At Averro, we go beyond traditional staffing, we offer strategic business solutions designed to strengthen your accounting function at every stage of growth. Whether you're a startup looking for fractional support or an enterprise needing specialized consulting, our approach is tailored to your evolving financial landscape.

We provide:

• Fractional CFO & Controller Services: Executive-level guidance, strategic planning, cash flow management, internal controls, without hiring full-time

• Accounting & Payroll Consulting: Specialized services in bookkeeping, GL maintenance, payables/receivables, and payroll processes

• Financial Assessments & Strategic Advisory: In-depth analyses, including budgeting, forecasting, risk mitigation, 409A valuation, tech stack optimization, to support scalable and compliant growth How it works, four steps we follow:

1. Discovery & Assessment: Identify specific financial and operational needs.

2. Customized Solutioning: Design consulting engagement aligned with your scope, budget, and timeline.

3. Execution & Collaboration: Our fractional consultants integrate with your team through ongoing collaboration.

4. Evaluation & Support: We assess impact and refine solutions for continued success.

This model gives you the expertise of seasoned finance leaders, CFOs, Controllers, compliance specialists, on-demand and at the right cost. It avoids the fixed costs of full-time staffing while ensuring you have the support needed for milestones like fundraising, audit prep, or compliance.

Looking to elevate your financial operations? Explore our Business Solutions, or connect with our Consulting and Recruiting Teams below to learn how Averro can support your goals.

Common Mistakes to Avoid When Staffing Your Accounting Team

No matter what your business size, there are a few key mistakes companies often make when building or managing their accounting teams. Steering clear of these can save you time, money, and unnecessary challenges. 

Avoid these common pitfalls: 

• Hiring without a clear staffing plan 

• Ignoring industry-specific accounting requirements 

• Overlooking the importance of soft skills like communication and problem-solving 

• Failing to invest in ongoing training 

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Finding the right number of accountants is critical to ensuring financial stability and business growth. By assessing company size, industry needs, and business complexity, you can build a team that supports long-term success. 

Ready to build an accounting team that drives your business forward? Contact Averro today for tailored staffing solutions. 

FAQs (Frequently Asked Questions)

Q: How do I know if my accounting team is understaffed? 

A: Signs include frequent errors, missed deadlines, overworked staff, and difficulty keeping up with financial reporting.  

Q: What’s the average salary for an accountant in the aerospace industry? 

A: According to CFO.com, aerospace accountants typically earn higher-than-average salaries due to the complexity and regulatory requirements of the industry. 

Q: Can businesses rely on external accounting services? 

A: Yes, startups or those needing specialized expertise often benefit from outsourcing accounting services to save costs and access advanced knowledge.  

Q: Can temporary accountants help during busy periods? 

A: Absolutely. Temporary accountants provide extra support during peak times, ensuring accuracy and relieving pressure on your core team. 

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