Name

MoneyPenny

Legal name

MoneyPenny LLC

Website

https://moneypennyllc.com

Company type

Private

Founded year

2005

Operating status

Operating

Headcount range

11–50 employees

Ownership category

akta.pro rank

Product category

Accounting Outsourcing Services

NAICS

Accounting, Tax Preparation, Bookkeeping, and Payroll Services (5412), Other Accounting Services (541219)

SIC

Finance Services (6199), Services-Management Consulting Services (8742)

akta.pro primary industry

Financial Planning & Analysis Support (Budgeting, Forecasting, Management Reporting) (BPAAAGAJ)

akta.pro secondary industry

Treasury Operations Support (Cash Management, Bank Reconciliations, Payments Ops) (BPAAAGAH)

Keywords

• Outsourced accounting services
• Bookkeeping outsourcing
• Tax preparation services
• Back-office accounting
• CPA firm outsourcing

Headquarters

HQ city

Cheyenne

HQ country

United States

HQ region

North America

Offices3 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Infrastructure, Marketing or Sales, Others

Revenue model

1. Recurring Bookkeeping and Accounting Services: Month-to-month recurring work covering bookkeeping, accounting, and back-office support. Billed based on FTE allocation (Full-Time Equivalent = up to 160 hours/month; Half FTE = up to 80 hours/month). Services include allocation, reconciliation, data entry, app syncing, accounts payable, sales tax, payroll, conversion, and billing.
2. Tax Preparation Services: End-to-end US and Canadian tax preparation priced per return based on type (1040, Corporate, Trust) and number of source document pages. Additional tax support billed at a flat rate of 80 hour/month increments. Team targets 24-48 hour turnaround time from receipt of complete client file.
3. Accounting and Financial Reporting Services: Services include financial statement preparation, monthly reconciliations, custom KPI reporting, job/project costing reports, rolling forecasts, break-even analysis, and administrative support. Billed as part of recurring FTE packages or as add-on services.
4. Special/Hourly Project Work: Short-term special projects billed at an hourly rate. A four-year accounting degree preparer is supervised by a full CA.
5. CAAS (Client Accounting Services) Support: Back-office CFO and CAAS support services including cash flow forecasting, budget-to-actual reporting, break-even analysis, labor cost management, and variable vs. fixed expense reporting. Part of the recurring service model.
6. Consulting Services: Workflow and technology consulting for accounting and bookkeeping firms, including tech stack optimization and firm re-engineering. Provided in partnership with Siegel CPA.

Pricing tiers

Go-to-market motion3 records

Distribution channels4 records

Marketing channels7 records

Core offering

MoneyPenny provides outsourced back-office accounting, bookkeeping, tax preparation, and consulting services to CPA firms, accountants, and bookkeeping practices across the US and Canada. A team of 80+ trained accounting professionals works as an extension of client firms across 250+ apps including QuickBooks Online, Xero, FreshBooks, Wave, Sage Intacct, and NetSuite, delivering financial statement preparation, reconciliations, payroll, tax returns, and CFO/CAAS support on a recurring FTE-based or per-return basis.

Product overview

MoneyPenny is an outsourcing services company (not a software vendor) providing a suite of back-office accounting, bookkeeping, and tax preparation services to CPA firms, accountants, and bookkeeping practices. The core offering centers on dedicated trained accountants and bookkeepers who become an extension of the client's team, working across more than 250+ apps including QuickBooks Online, Xero, FreshBooks, Wave, Sage Intacct, NetSuite, and QuickBooks Desktop. Service pillars include: Outsourced Accounting Services (financial statements, management reporting, software migration), Outsourced Bookkeeping Services (bank reconciliation, A/R, A/P, payroll), Tax Preparation (US and Canadian since 2003, all entities, 24-48hr turnaround), Technology and Workflow Consulting (tech stack optimization, process redesign), CAAS Support (back-office CFO services including cash flow forecasting and budget analysis), and Accounting App Reviews (software evaluation and validation). A proprietary publication, 'It's Not Just the Numbers,' documents their 11-step methodology for building back-office support practices. The company operates with offices in the USA and India and has adopted Whale.io as their internal AI-powered SOP and training documentation platform.

Differentiator

Problem solved

Functional benefit

Products and services

• Outsourced Accounting Services Dedicated trained accountants and CPAs who become an extension of the client's team, handling overflow work, special projects, and everyday accounting tasks including financial statement preparation, management reporting, and software migration. Designed for CPA firms, accountants, and bookkeeping practices that need to scale capacity.
• Outsourced Bookkeeping Services Day-to-day virtual bookkeeping including bank feed reconciliation, accounts receivable, accounts payable, payroll processing, and month-end close. Team is certified in QuickBooks Online, Xero, FreshBooks, Wave, Sage Intacct, NetSuite, and QuickBooks Desktop. Services are typically offered as recurring Full FTE (up to 160 hours/month) or Half FTE (up to 80 hours/month) packages, starting as low as $575/month.
• Tax Preparation Services End-to-end US and Canadian tax preparation covering all entities and return types (1040, Corporate, Trust) with 24-48 hour turnaround. Includes pre-preparation support, return preparation, review and QA, delivery and client communication, and post-filing support. Integrates with all major tax software including UltraTax, Engagement Manager, and Wolters Kluwer/Xpitax. AI-augmented via Juno for source document extraction.
• Technology and Workflow Consulting US-based consultants help redesign firm structure and tools, optimize tech stack, and re-engineer workflows. Assists accounting and bookkeeping firms in organizing clients, teams, and applications for better data and time management. Provided in partnership with Siegel CPA.
• Client Accounting Advisory Services (CAAS) Support Back-office CFO services including cash flow forecasting, budget-to-actual reporting, break-even analysis, labor cost management, and variable vs. fixed expense reporting. Dedicated teams support advisory services delivered by CPA firms to their clients.
• Accounting App Reviews Evaluation and review of accounting software applications for clients. The team tests and validates ERP systems and accounting platforms, working across 295+ apps including all major general ledgers, tax prep, and practice management software. Used by accounting technology developers needing QA testing and workflow validation.
• It's Not Just the Numbers (Book) Proprietary 11-step process for building a Back Office Support services practice, co-authored by Penny Breslin and Damien Greathead and published by CPA Trendlines. Contains real-world proven processes, case studies, and sample spreadsheets for accounting firm leaders.

Quantifiable outcome

• 40% cost savings compared to in-house staff for equivalent accounting services
• +3 more outcomes

Named customers5 records

Segments5 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration29 records

AI capability10 records

Feature6 records

Partnerships

20 partnerships are on record, tiered core and supporting.

• Siegel CPAcoreStrategic or Co-development PartnerMoneyPenny co-consults with Siegel CPA to serve accounting and bookkeeping firms looking to organize best practices internally. The partnership provides firms with comprehensive consulting on workflow optimization, tech stack review, and firm restructuring, often combined with MoneyPenny's outsourced accounting services.
• XerocoreTechnology or IntegrationXero certified partner. MoneyPenny's team is certified in Xero and supports clients using Xero as their primary accounting platform. Xero is one of the core accounting platforms MoneyPenny's team works with across all services.
• Intuit (QuickBooks)coreTechnology or IntegrationIntuit certified ProAdvisor. MoneyPenny uses QuickBooks as its primary financial platform and provides migration, conversion, and ongoing support services for QuickBooks Online and QuickBooks Desktop clients.
• FreshBookssupportingTechnology or IntegrationCertified in FreshBooks online accounting software. Team supports clients using FreshBooks as their accounting platform.
• Wave AccountingsupportingTechnology or IntegrationCertified in Wave Accounting platform. Team supports clients using Wave for their accounting needs.
• CanopysupportingTechnology or IntegrationMoneyPenny supports clients using Canopy for practice management, task tracking, and client workflow management.
• TaxDomesupportingTechnology or IntegrationMoneyPenny uses TaxDome as a client portal for document management, e-signature coordination, and storing final tax return packages with annotation and bookmarking.
• KeepersupportingTechnology or IntegrationTeam favorite app for client collaboration. Keeper allows clients and CPA teams to work in the same workspace, syncing directly with QuickBooks Online.
• Thomson Reuters (UltraTax, Engagement Manager)coreTechnology or IntegrationMoneyPenny's team is expert in UltraTax and Engagement Manager for tax preparation and workpaper management. They support clients using Thomson Reuters tax software.
• Wolters Kluwer (Xpitax)supportingTechnology or IntegrationMoneyPenny's leadership (Penny Breslin was first Director of Outsourcing at Xpitax, acquired by Wolters Kluwer) has deep ties to Wolters Kluwer's tax and accounting software ecosystem.
• SmartVault, ShareFile, Karbon, Jetpack WorkflowsupportingTechnology or IntegrationMoneyPenny supports integration with document management systems including SmartVault, ShareFile, Karbon, and Jetpack Workflow as part of its tax workflow template setup and document management services.
• Sage Intacct, NetSuitesupportingTechnology or IntegrationMoneyPenny's team is certified in Sage Intacct and NetSuite for enterprise accounting and financial management.
• Coaxis CloudcoreTechnology or IntegrationMoneyPenny's team members use dedicated desktops that connect IP-IP to servers in the US via Coaxis Cloud, ensuring secure data transmission between India operations and US data infrastructure.
• Practice ProtectcoreTechnology or IntegrationAll cloud apps are accessed from US servers using Practice Protect password management program, providing secure credential management and access control.
• Tech 4 AccountantssupportingTechnology or IntegrationThird-party cybersecurity firm that conducts annual security reviews of MoneyPenny's operations and infrastructure.
• Whale.iocoreTechnology or IntegrationMoneyPenny adopted Whale.io as its internal platform for building, managing, and sharing SOPs, training guides, and company knowledge. Includes a Chrome extension for embedding SOPs within web-based accounting tools.
• JunocoreTechnology or IntegrationAI-powered tax document extraction tool used by MoneyPenny for processing tax source documents. Juno extracts data from W-2s, 1099s, brokerage statements and exports to UltraTax with validation and annotation layers.
• Hubdoc, Bill.com, DextsupportingTechnology or IntegrationAI-assisted document automation and accounts payable/receivable management tools used to reduce manual data entry for clients. Hubdoc pulls bills and extracts invoice details; Bill.com manages payment workflows; Dext handles receipt and document data extraction.
• RelaysupportingTechnology or IntegrationFirm-client banking collaboration platform providing real-time visibility and easy integration for MoneyPenny's bookkeeping and accounting workflows.
• XraisedsupportingGTM or Marketing PartnerOnline video interview platform where MoneyPenny's podcast 'Xraised' is hosted, featuring interviews with founders and industry experts in the accounting space.

Scale indicators9 records

Recent moves5 records

Expansion highlights6 records

Direct peers

• Botkeeper: Botkeeper combines AI-driven bookkeeping automation with human accountants to deliver outsourced bookkeeping services to small businesses and accounting firms. Comparable to MoneyPenny as a tech-augmented outsourced bookkeeping provider, though Botkeeper is more software-led and serves end-SMBs rather than CPA firms as intermediaries.
• AccountingDepartment.com: AccountingDepartment.com provides outsourced bookkeeping, controller services, and CFO services for small-to-mid-market businesses. Comparable to MoneyPenny as a direct outsourced accounting services provider, with similar FTE-based pricing and back-office deliverables, though it serves end-businesses rather than the CPA-firm-as-client niche that is MoneyPenny's primary segment.
• Cogneesol: Cogneesol is an India-headquartered BPO offering accounting, bookkeeping, tax, and payroll outsourcing to CPA firms and SMBs in the US, UK, and Australia. Highly comparable to MoneyPenny in delivery model (India-based), target segment (CPA firms), and service lines (bookkeeping, tax, accounting), with a similar offshore-arbitrage cost pitch.
• The Outsourced Accountants (TOA Global): TOA Global provides outsourced accounting and bookkeeping services to accounting firms globally, with significant delivery capacity in the Philippines and other offshore locations. Directly competes with MoneyPenny for the same CPA-firm-as-client segment and offers comparable tax, bookkeeping, and advisory support services.
• Supporting Strategies: Supporting Strategies provides outsourced bookkeeping, accounting, and Controller/CFO-level services exclusively to CPA firms and small businesses, using a distributed model across US regions with no offshore component. Highly comparable to MoneyPenny in client base (accounting firms) and core service mix, though it differs on delivery geography (US-only vs MoneyPenny's US-India dual-shore).
• Pilot: Pilot provides outsourced bookkeeping, accounting, and CFO services primarily to startups and high-growth SMBs, combining proprietary software with human bookkeepers. Comparable to MoneyPenny in service mix and recurring FTE-style engagements, though Pilot's segment focus (VC-backed startups) differs from MoneyPenny's CPA-firm niche.

Emerging players

• Finvisor: Finvisor provides outsourced bookkeeping and accounting services to small businesses and CPA firms at smaller scale. Comparable to MoneyPenny in service offering and target market overlap, but materially smaller in headcount and client footprint.

Broad incumbents

• 1-800Accountant (Blaze): 1-800Accountant / Blaze is a large US-based accounting services firm providing bookkeeping, tax, and advisory services to small businesses. Comparable as an outsourced accounting services provider but operates at significantly broader scale and serves end-businesses directly rather than CPA firm clients.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/@strategyandthevirtualcontrolle
• LinkedInlinkedin.com/company/moneypenny-llc

Compliance7 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about MoneyPenny