1st Step Accounting
1st Step Accounting is a virtual, cloud-based bookkeeping and tax firm founded in 2009 that delivers monthly bookkeeping, payroll processing, and tax preparation services to small businesses, freelancers, and individuals, headquartered in Baltimore, Maryland.
- Company typePrivate
- Founded2009
- HeadquartersBaltimore, United States
- Headcount11–50
- GTM typeB2B and B2C
- OfferingServices
What 1st Step Accounting does
1st Step Accounting, LLC is a privately held virtual bookkeeping, payroll, and tax preparation firm founded in 2009 by Nayo Carter-Gray, EA MBA, and headquartered in Baltimore, Maryland with a physical office in Towson. The firm targets small businesses, freelancers, and individuals with a unified suite of monthly bookkeeping, cloud-based payroll, and federal/state/local tax services, supplemented by downloadable worksheets and checklists. Its proprietary "1st Step Quality Review" — a 16-point QuickBooks audit-prevention check delivered as a written report — is sold as a one-time $329 add-on, while ongoing services are delivered under monthly or quarterly subscriptions.
The technology stack is cloud-native and centered on the Intuit ecosystem: QuickBooks Online is the primary accounting platform, hosted via Uni-Data in a secure collaborative environment; Gusto handles payroll; and ProSeries, ProConnect Tax Online, and Lacerte are used for tax preparation, with QuickBooks Online Prep for Taxes enabling automated chart-of-accounts-to-tax-line mapping and direct data import. Firm operations are run on Intuit Accountant Suite (an upgrade from QBOA) and VCita powers scheduling, payments, and the client portal, while ShareFile handles document exchange. Distribution is achieved through direct consultation booking (bookme.name), a content-led marketing engine (blog, social media, podcasts, courses, PR features in Forbes, US News, AccountingWeb, and others), and free resource downloads, with no geographic restrictions beyond US-based clients.
The firm is bootstrapped, founder-owned, and has grown from a solo practice to a team of roughly 4 people over 15+ years in operation, generating revenue through recurring monthly subscriptions, professional-services fees for tax preparation, and discrete productized services. Nayo Carter-Gray's personal credentials — Enrolled Agent license, QuickBooks Online Advanced Certification, Intuit Accounting Council 2018-2019 membership, and Maryland Board of Individual Tax Preparers chair position — are central to the brand and client acquisition motion.
1st Step Accounting firmographics
Firmographics- Name
- 1st Step Accounting
- Legal name
- 1st Step Accounting, LLC
- Website
- https://1ststepaccounting.com
- Company type
- Private
- Founded year
- 2009
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- 1st Step Accounting is a virtual, cloud-based bookkeeping and tax firm founded in 2009 that delivers monthly bookkeeping, payroll processing, and tax preparation services to small businesses, freelancers, and individuals, headquartered in Baltimore, Maryland.
- Ownership category
- akta.pro rank
1st Step Accounting industry classification
Industry- Product category
- Accounting & Bookkeeping Services
- NAICS
- Accounting, Tax Preparation, Bookkeeping, and Payroll Services (5412)
- akta.pro primary industry
- Accounting & Bookkeeping Services (BPAHABAC)
- akta.pro secondary industries
- Accounts Receivable (Invoicing, Cash Application, Deductions) (BPAAAGAB), Expense Management & Reimbursements Administration (BPACAIAH)
Keywords
Where 1st Step Accounting is headquartered
LocationHeadquarters
- HQ city
- Baltimore
- HQ country
- United States
- HQ region
- North America
Offices2 records
Markets served
1st Step Accounting business model
Business model- GTM type
- B2B and B2C
- Offering type
- Services
- Cost components
- Personnel, Technology or R&D, Operations, Marketing or Sales
Revenue model
- Monthly Bookkeeping & Accounting Services: Complete range of virtual full-charge bookkeeping and accounting services offered on a monthly or quarterly subscription basis, providing recurring revenue from small business clients.
- Payroll Processing: Cloud-based payroll processing system handling tax payments, electronic filing, W-2s and W-3 processing. Revenue generated through service fees bundled into monthly service packages.
- Tax Preparation Services: Federal, state, and local tax return preparation for individuals, corporations, LLCs, and partnerships. Year-round tax planning and strategy services.
- Quality Review Service: One-time $329 review service providing written report of QuickBooks improvements and corrections with 16-point audit-prevention check.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| One time/ perpetual license | Multi-year contract | 1st Step Quality Review - One-time QuickBooks review service |
Go-to-market motion2 records
Distribution channels3 records
Marketing channels7 records
1st Step Accounting product offering
Product offeringCore offering
1st Step Accounting is a virtual, paperless accounting firm founded in 2009 that delivers remote bookkeeping, payroll processing, tax preparation, and quality review services to small businesses, freelancers, and self-employed individuals. The firm operates as an LLC registered in Maryland and uses cloud-based platforms such as QuickBooks Online, Gusto, Uni-Data, and VCita to manage client work entirely online.
Product overview
1st Step Accounting operates as a virtual, paperless accounting firm offering a unified suite of bookkeeping, payroll, and tax preparation services. The core offering centers on virtual full-charge bookkeeping and accounting services (delivered monthly/quarterly), complemented by cloud-based payroll processing and comprehensive tax preparation. A premium add-on service, the 1st Step Quality Review, provides a 16-point professional audit of client QuickBooks files. The firm leverages QuickBooks Online as its primary accounting platform, with integrations into Intuit tax software (ProSeries, ProConnect, Lacerte), Gusto for payroll, and VCita for client scheduling. Educational resources including worksheets and checklists support client self-service.
Differentiator
Problem solved
Functional benefit
Products and services
- Bookkeeping Services
- Payroll Services
- Tax Preparation
- Quality Review Services
Quantifiable outcome
- Save clients money by reducing expenses of hiring full-time employees
- +3 more outcomes
Companies that use 1st Step Accounting
Customer profileNamed customers5 records
Segments5 records
Ideal customer profiles2 records
1st Step Accounting technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration8 records
AI capability4 records
Feature3 records
1st Step Accounting partnerships and signals
Strategic signalPartnerships
Six partnerships are on record, tiered core and minor.
- Uni-DatacoreUni-Data is a leader in Application Hosting & Cloud Computing Technology. They host QuickBooks in a secure collaborative environment, allowing small businesses to add functionality without additional IT support costs or infrastructure.
- GustocoreGusto provides cloud-based payroll processing system. 1st Step Accounting uses Gusto for client payroll processing with features including tax payment scheduling, electronic filing, and W-2/W-3 processing.
- IntuitcoreIntuit partner providing QuickBooks Online software, ProAdvisor certification program, and tax software (ProConnect, ProSeries, Lacerte). Nayo Carter-Gray is QuickBooks Online Advanced Certified ProAdvisor and former Intuit Accounting Council member.
- Patriot SoftwareminorRecommended payroll provider. 1st Step Accounting recommends Patriot Software's Basic Payroll and Full Service Payroll products to clients needing simple and affordable payroll solutions.
- National Association of Enrolled Agents (NAEA)minorProfessional association membership. Nayo Carter-Gray is a member of the National Association of Enrolled Agents.
- Maryland Board of Individual Tax PreparersminorRegulatory board. Nayo Carter-Gray currently serves as chair of the Maryland Board of Individual Tax Preparers.
Scale indicators4 records
Recent moves6 records
Expansion highlights5 records
1st Step Accounting competitors and assessment
Company assessmentDirect peers
- Xendoo: Xendoo provides online bookkeeping, accounting, tax, and advisory services for small businesses using cloud platforms. It shares 1st Step Accounting's virtual, subscription-based service model and SMB target market with similar QuickBooks Online-centric delivery.
- Botkeeper: Botkeeper combines automated bookkeeping software with human accountants for small business bookkeeping. It competes with 1st Step Accounting in the SMB bookkeeping space with a more automation-forward approach but overlapping customer base and service offering.
- Ignite Spot: Ignite Spot offers outsourced bookkeeping, payroll, CFO services, and tax preparation for small businesses. It competes directly with 1st Step Accounting as a full-service virtual accounting provider for SMBs with comparable service breadth and pricing model.
- Bookkeeper360: Bookkeeper360 offers cloud-based bookkeeping, accounting, payroll, tax, and advisory services for small and mid-sized businesses. It has a comparable integrated service mix to 1st Step Accounting including virtual delivery, payroll processing, and QuickBooks Online integration.
- 1-800Accountant: 1-800Accountant provides accounting, tax, payroll, and advisory services for small businesses and individuals via a virtual delivery model. It targets the same SMB and individual segment as 1st Step Accounting with a similar integrated service mix including tax preparation and bookkeeping.
- Pilot: Pilot provides bookkeeping, accounting, tax, and CFO services for startups and small businesses with a tech-enabled service model. It targets the same SMB segment as 1st Step Accounting and competes directly in virtual bookkeeping, tax preparation, and payroll services.
- AccountingDepartment.com: AccountingDepartment.com provides outsourced bookkeeping, accounting, and CFO services for small and mid-sized businesses. It shares 1st Step Accounting's virtual accounting model, SMB focus, and bundled bookkeeping/accounting/tax service packaging.
- Bench: Bench is a virtual bookkeeping service that provides monthly bookkeeping, financial reporting, and tax filing for small businesses via a subscription model. It directly competes with 1st Step Accounting in offering remote, subscription-based bookkeeping to SMB clients with similar service packaging.
Emerging players
- Wave Financial: Wave Financial offers free DIY accounting, invoicing, and bookkeeping software for small businesses and freelancers. It competes with 1st Step Accounting in the SMB accounting space by enabling self-service bookkeeping as a lower-cost alternative to hiring a virtual bookkeeper.
Broad incumbents
- Intuit (QuickBooks Live): Intuit's QuickBooks Live service offers virtual bookkeeping and tax preparation for small businesses using Intuit products. As the platform owner of QuickBooks Online, ProConnect, ProSeries, and Lacerte, Intuit directly competes with 1st Step Accounting while also controlling its underlying technology stack.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks6 records
Key highlights7 records
Customer concentration
1st Step Accounting social profiles
Digital presence1st Step Accounting compliance and trust
Trust signalCompliance1 record
1st Step Accounting financial estimates
Financial estimateRevenue estimate
Valuation estimate
1st Step Accounting leadership team
Management profileNumber of profiles
Profiles1 record
1st Step Accounting funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
1st Step Accounting M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about 1st Step Accounting
What does 1st Step Accounting do?
1st Step Accounting is a virtual, paperless accounting firm founded in 2009 that delivers remote bookkeeping, payroll processing, tax preparation, and quality review services to small businesses, freelancers, and self-employed individuals. The firm operates as an LLC registered in Maryland and uses cloud-based platforms such as QuickBooks Online, Gusto, Uni-Data, and VCita to manage client work entirely online.
Is 1st Step Accounting a public or private company?
1st Step Accounting is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was 1st Step Accounting founded?
1st Step Accounting was founded in 2009. It employs 11 to 50 people.
Where is 1st Step Accounting based?
1st Step Accounting is headquartered in Baltimore, United States, in the North America region.
How does 1st Step Accounting make money?
Four revenue lines are on record. Monthly Bookkeeping & Accounting Services are the primary driver. The others are payroll Processing, tax Preparation Services and quality Review Service.
Who are 1st Step Accounting's main competitors?
Direct peers on record are Xendoo, Botkeeper, Ignite Spot, Bookkeeper360, 1-800Accountant, Pilot, AccountingDepartment.com and Bench. Wave Financial is listed as an emerging player. Intuit (QuickBooks Live) is listed as a broad incumbent.
Does 1st Step Accounting have an API?
No public API is recorded for 1st Step Accounting.
What industry is 1st Step Accounting in?
1st Step Accounting's product category is Accounting & Bookkeeping Services. Its primary akta.pro industry code is BPAHABAC, Accounting & Bookkeeping Services, with a secondary code of BPAAAGAB, Accounts Receivable (Invoicing, Cash Application, Deductions). Its NAICS code is 5412.