NAICS 541219 Quarterly Industry Report
Other Accounting Services
Comprehensive industry research for valuation professionals, business owners, buyers, and lenders
NAICS Code: 541219Sector: Professional, Scientific, and Technical Services (54)Updated: Q1 2026
About This Report
This Fair Market Value report profiles NAICS 541219 (Other Accounting Services) using data from the U.S. [Census Bureau[7]](https://data.census.gov/), Bureau of Labor Statistics[8], and SBA size standard tables[9]. The classification encompasses establishments providing general accounting services excluding CPA offices (541211), tax-preparation-only firms (541213), and payroll-only services (541214). Industry data includes establishment counts, employment figures, and wage statistics from the most recent Census and BLS surveys. Valuation metrics for 541219 businesses typically reference revenue multiples, client mix, and recurring revenue stability as key drivers.
Industry Snapshot
Key metrics for the other accounting services industry.
NAICS Sector
54
Professional, Scientific, and Technical Services
Industry Definition & Overview
Other Accounting Services (NAICS 541219) encompasses establishments, except certified public accountant offices, that provide a range of accounting services to businesses and organizations Census Bureau NAICS 541219[5]. This includes bookkeeper offices, billing operations, and general accounting service providers handling financial record-keeping, payroll processing combined with other accounting functions, and related administrative support. Growth in this sector is strong. Approximately 20,070 active establishments employ an estimated 245,095 people, with technology adoption and increasing regulatory complexity driving demand for professional accounting support among small and mid-sized businesses.
The accounting services sector experienced steady expansion through 2024, driven by business formation growth, tax code changes, and rising demand for specialized expertise. Cloud-based platforms and automation tools enable firms to serve clients more efficiently while maintaining accuracy in financial reporting. Market consolidation accelerated through 2025, with private equity investment reshaping firm structures and capabilities BLS Bookkeeping Data[6]. More than half of the largest 30 U.S. accounting firms sold ownership stakes to private equity by 2025.
Talent shortages persist as the pipeline for qualified bookkeepers and accounting professionals remains constrained. Employment of bookkeeping, accounting, and auditing clerks is projected to decline 6 percent from 2024 to 2034 due to automation. Yet approximately 170,000 job openings are projected annually. Firms increasingly emphasize value-added services beyond traditional bookkeeping to maintain competitive advantage and capture higher-margin advisory work.
What's Included in This Industry
- Industry definition and NAICS classification scope for 541219
- Establishment counts and employment statistics
- SBA size standard and small business eligibility criteria
- Market consolidation trends and private equity activity
- Technology adoption and automation impact analysis
- Workforce projections and talent pipeline data
- Related NAICS classifications with distinction explanations
- Related industry relationships and market connections
- Geographic employment distribution and wage data
- FAQ covering classification distinctions and market trends
NAICS Classification Hierarchy
| Level | Description | Code |
|---|---|---|
| Sector | Professional, Scientific, and Technical Services | 54 |
| Subsector | Professional, Scientific, and Technical Services | 541 |
| Industry Group | Accounting, Tax Preparation, Bookkeeping, and Payroll Services | 5412 |
| NAICS Industry | Accounting, Tax Preparation, Bookkeeping, and Payroll Services | 54121 |
| National Industry | Other Accounting Services | 541219 |
Related NAICS Codes
| Code | Description | Relationship |
|---|---|---|
| 541211 | Offices of Certified Public Accountants | CPA offices differ from 541219 by requiring CPA certification and licensing to perform audits, reviews, and attest services on financial statements, operating under regulatory requirements and professional standards that distinguish their scope from non-CPA accounting providers. |
| 541213 | Tax Preparation Services | Tax preparation services are separated from 541219 when tax preparation is the sole primary service, whereas 541219 includes tax preparation as one component within a broader accounting service offering alongside bookkeeping and billing functions. |
| 541214 | Payroll Services | Payroll services are classified separately from 541219 when payroll processing represents the primary business activity, while 541219 encompasses establishments providing payroll as part of comprehensive accounting services rather than as standalone processing. |
| 561110 | Office Administrative Services | Office administrative services provide general management and administrative support to client organizations, sometimes overlapping with 541219 when accounting and billing functions are bundled with broader office management services. |
| 561439 | Other Business Service Centers (including Copy Shops) | Other business service centers provide administrative support services for membership organizations, differing from 541219 by focusing on organizational management rather than financial record-keeping and accounting operations. |
| 524292 | Pharmacy Benefit Management and Other Third Party Administration of Insurance and Pension Funds | Third-party administration of insurance and pension funds overlaps with accounting services when establishments manage benefits accounting, retirement plan recordkeeping, and insurance premium reconciliation alongside broader financial administration duties. |
Geographic Concentration
Top states by share of national establishments.
| # | State | % Est. | Total Est. |
|---|---|---|---|
| 1 | California | 13.5% | 6,266 |
| 2 | Florida | 10.9% | 5,059 |
| 3 | Texas | 8.6% | 3,972 |
| 4 | New York | 6.8% | 3,150 |
| 5 | Illinois | 3.7% | 1,727 |
| 6 | Georgia | 3.4% | 1,560 |
| 7 | Colorado | 3.3% | 1,540 |
| 8 | Washington | 3.0% | 1,411 |
| 9 | Arizona | 2.6% | 1,209 |
| 10 | Pennsylvania | 2.5% | 1,150 |
% Of Establishments
0%
13%
Source: County Business Patterns, U.S. Census Bureau[3]
SBA Lending Summary
4,192
Total SBA Loans
$1.2B
Total Loan Volume
$282K
Average Loan Size
10 yrs
Average Loan Term
10.97%
Average Interest Rate
23,032
Jobs Supported
Source: SBA 7(a) Program Data, U.S. Small Business Administration — FY 2025[4]
Key Insight: The SBA size standard for NAICS 541219 (Other Accounting Services) is $25.0 million in average annual receipts SBA Size Standards[9]. This threshold determines whether a firm qualifies as a small business for federal contracting opportunities, SBA loan programs, and set-aside contracts. Firms at or below this revenue threshold meeting other SBA requirements may access SBA financing, surety bond guarantees, and contracting set-asides designed to support small business growth in the professional services sector. Eligible businesses can access SBA 7(a) loans[10] for working capital, equipment, and acquisition financing, while 504 loans[11] support major fixed-asset purchases including real estate and heavy machinery.
Top SBA Lenders
| # | Lender | Loans | Volume | Avg Loan |
|---|---|---|---|---|
| 1 | United Midwest Savings Bank National Association | 240 | $213.0M | $887K |
| 2 | The Huntington National Bank | 224 | $121.9M | $544K |
| 3 | Live Oak Banking Company | 272 | $116.9M | $430K |
| 4 | U.S. Bank, National Association | 136 | $68.6M | $504K |
| 5 | Newtek Bank, National Association | 304 | $58.2M | $191K |
Frequently Asked Questions
Common questions about this industry.
What types of businesses fall under NAICS 541219?
NAICS 541219 includes bookkeeper offices, accounting service providers, billing offices, and general accounting firms operated by non-CPAs that provide comprehensive accounting services. These may include general bookkeeping, payroll processing combined with accounting, financial statement preparation, accounts payable and receivable management, and bank reconciliation. The key distinction is that 541219 firms are not CPAs and provide routine accounting functions. Census Bureau NAICS 541219[5]
How does NAICS 541219 differ from NAICS 541211?
NAICS 541211 comprises establishments operated by Certified Public Accountants who are licensed to provide auditing, review, and attest services on financial statements. NAICS 541219 covers non-CPA accounting service providers offering general bookkeeping and accounting support. CPAs in 541211 can perform services that 541219 firms cannot legally provide, such as signing audit opinions.
What is the SBA size standard for NAICS 541219?
The SBA size standard is $25.0 million in average annual receipts. Firms meeting this threshold qualify for federal small business contracting programs, SBA loan products, and set-aside contracts. SBA Size Standards[9]
How many establishments and employees are in NAICS 541219?
There are about 20,070 active establishments with an estimated workforce of 245,095 employees. The broader accounting services group (NAICS 5412) encompasses over 120,000 establishments, reflecting the distributed nature of the industry across different firm sizes and geographic markets. Census Bureau Data[7]
What are current market trends affecting NAICS 541219 firms?
Key trends include rapid adoption of cloud-based accounting software, increasing automation of routine bookkeeping tasks through AI and machine learning, and consolidation through private equity investment. More than half of the largest 30 U.S. accounting firms sold ownership stakes to PE by 2025. Firms increasingly offer expanded advisory services beyond traditional bookkeeping.
What is the employment outlook for bookkeepers and accounting workers?
Employment of bookkeeping, accounting, and auditing clerks is projected to decline 6 percent from 2024 to 2034, primarily due to automation. However, roughly 170,000 job openings are projected annually. Median annual wages were $49,210 in May 2024, with geographic variation by state. BLS Occupational Outlook[6]
What professional associations serve NAICS 541219 professionals?
Key organizations include the American Institute of Professional Bookkeepers (AIPB), which certifies bookkeepers and has served the profession since 1987, and the National Association of Certified Public Bookkeepers (NACPB), which provides training and CPB certification. The National Society of Accountants (NSA) also serves non-CPA accounting professionals with education and advocacy.
How is M&A activity shaping the accounting services market?
M&A activity accelerated significantly, with more than half of the largest 30 U.S. accounting firms selling ownership stakes to private equity by 2025. Key drivers include expanding into higher-margin advisory services, technology-enabled delivery improvements, geographic expansion, and client base consolidation. Valuations increasingly reflect proprietary technology and recurring revenue stability.
Sources & References
Government datasets and editorial sources used in this report.
- [1]U.S. Bureau of Labor Statistics, Quarterly Census of Employment and Wages bls.gov
- [2]U.S. Census Bureau, Economic Census census.gov
- [3]U.S. Census Bureau, County Business Patterns census.gov
- [4]U.S. Small Business Administration, SBA 7(a) Loan Program Data data.sba.gov
- [5]Census Bureau NAICS 541219 census.gov
- [6]BLS Bookkeeping Data bls.gov
- [7]U.S. [Census Bureau data.census.gov
- [8]Bureau of Labor Statistics bls.gov
- [9]SBA size standard tables sba.gov
- [10]SBA 7(a) loans sba.gov
- [11]504 loans sba.gov
Disclaimer
This publication has been prepared by Fair Market Value (“Fair Market Value”) for informational purposes only. It is provided on an “as-is” and “as available” basis. Fair Market Value makes no representations or warranties, express or implied, regarding the merchantability, fitness for a particular purpose, completeness, or accuracy of the data or information contained herein. This publication is not intended to be, and should not be construed as, professional financial, legal, tax, or investment advice. Users should consult with qualified professionals before making any financial or business decisions based on the information presented.
To the extent permitted by law, Fair Market Value disclaims all liability for loss or damage, direct and indirect, suffered or incurred by any person resulting from the use of, or reliance upon, the data in this publication.
Copyright © 2026 Fair Market Value. All rights reserved. All data, information, articles, graphs, and content contained in this publication are copyrighted works and Fair Market Value hereby reserves all rights. No part of this publication may be copied, reproduced, republished, uploaded to a third party, or distributed without the prior written permission of Fair Market Value.