Growing businesses often reach a point where they need professional financial advice, but are unable to afford a full-time Chief Financial Officer (CFO) or controller. A business utilizing our CFO & Accounting Services has several options.
As your company’s Chief Financial Officer (CFO) we oversee your accounting staff and monitor internal controls while providing financial statement analysis, projections, strategic planning, compliance, cash flow management, and tax planning. A CFO/Controller on your team can be more economical than employing a full-time in-house CFO, and still provide the expertise needed to help small and medium companies grow their business.
Providing daily accounting services in combination with the CFO component is also available. Daily bookkeeping services are also available, for the shareholder/owner, who is wearing many hats may delegate duties of the day-to-day accounting function.
Benefits of CFO/Accounting Services
- Better focus on the overall operations of the business
- More time devoted to marketing and generating additional revenue
- A better balance between business and personal time
- A better understanding of the financial aspects of the business
- Access to a trustworthy sounding board for future business decisions, strategic planning and budgeting
- Strong financial controls to increase profits and avoid employee theft and other risks
- Improved tax savings strategies and planning
- Debt reduction planning
- Liaison to bankers, attorneys, vendors, insurance agents, etc.
- Review /negotiation of insurance policies
- Development of company accounting procedures
- Analysis of equipment purchases and expansion
- More confidence in growing your business, peace of mind in making decisions and a road map for growth
CFO/Accounting Services Checklist
Simply Counted Business Services, Inc.’s CFO/accounting services procedure check list identifies a starting point for our working relationship. Items include:
- Double-Entry Accounting Transactions
- Revenue Activities – Invoicing & Accounts Receivable Management
- Accounts Payable Management; recording, filing and payments
- Management of Online Account/Set Ups Passwords
- Bank Account Reconciliation – Monthly
- Cash Flow Planning and Assistance
- Asset List/Depreciation Reporting
- Payroll Activities and Reports
- 941/MESC/940/StateW/H/W-2’s/Year-End Close, Payroll WC Audits
- Year End Reconcilation, Annual Reports, W-2’s
- Employee Advance Tracking, if applicable
- FOC & Garnishment
- Work Comp Audits
- 1099 Tracking & Year End Reporting
- Taxes
- Corporate Taxes
- Industry-Specific Taxes (sales, excise)
- Human Resources Management
- Job Descriptions/ Performance Evaluation
- Benefits & Compensation
- Health Care Mandates
- Internal Procedures & Processes Review
- Insurance Policies – Summary, Tracking & Comparison
- Financial Statements and Budgeting
- Loan Amortization Schedules
- Management Reporting
- Monthly or Weekly Meeting – based on activity or need
- Available for timely communication with management team of company
- IT Resources
- Off-site back up of accounting records, software and source documents
- Customized accounting information/communication options (fax, email, Remote Desktop, Log-Me-In, phone conferencing)
- Software training and support (Quickbook, PeachTree, Sage)
- Electronic Information Systems/Organization