Outsourced Accounting Services
Let us do the boring (but insanely critical) stuff!
The Benefits of Outsourcing
Cost Savings: We are 35% of the cost when compared to full time staff.
Access to Expertise: We are a team of experienced professionals who have knowledge and skills to handle complex tasks, ensure compliance with regulations, and provide strategic advice tailored to the business's needs.
Focus on Core Activities: Do what you love doing! We just happen to love finance.
Scalability and Flexibility: From startup to $30M and beyond, we can meet your needs.
Improved Accuracy and Efficiency: The accuracy, efficiency, and reliability of financial data and reporting will have a major impact in your ability to reach full potential.
Enhanced Reporting and Analysis: We will provide valuable insights and analysis into financial and operational performance, trends, and opportunities for improvement. We will generate customized reports, dashboards, and KPIs to help you make informed decisions and drive business growth.
Outsourced Controller
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The Controller plays a pivotal role in financial reporting within an organization, serving as a key steward of financial information and ensuring compliance with accounting standards and regulatory requirements. Here's how the Controller contributes to financial reporting:
Financial Statement Preparation: The Controller oversees the preparation of financial statements, including the balance sheet, income statement, and statement of cash flows. They ensure that financial reports are accurate, timely, and in compliance with Generally Accepted Accounting Principles (GAAP) or other applicable accounting standards.
Accounting Policies and Procedures: The Controller establishes and maintains accounting policies, procedures, and controls to govern the financial reporting process. They ensure consistency in accounting treatments, adherence to regulatory requirements, and accuracy in financial data recording.
Financial Analysis and Interpretation: The Controller conducts in-depth analysis of financial data to identify trends, patterns, and insights that inform decision-making. They provide management with actionable insights into financial performance, variances, and key performance indicators (KPIs) to support strategic planning and operational decision-making.
Internal Controls and Compliance: The Controller designs, implements, and monitors internal controls to safeguard assets, prevent fraud, and ensure the integrity of financial reporting. They assess risks, identify control weaknesses, and implement remediation measures to strengthen internal control environment and mitigate risks.
External Audit Coordination: The Controller serves as the primary liaison with external auditors during the financial audit process. They provide auditors with access to financial records, respond to inquiries, and facilitate the audit procedures to ensure a smooth and efficient audit process.
Financial Reporting Systems: The Controller oversees financial reporting systems and software applications used to generate financial reports. They ensure that systems are properly configured, maintained, and updated to meet evolving business needs and regulatory requirements.
Regulatory Compliance: The Controller ensures compliance with regulatory reporting requirements imposed by government agencies, industry regulators, and other stakeholders. They prepare and submit regulatory filings, disclosures, and certifications in accordance with deadlines and regulatory standards.
Continuous Improvement: The Controller drives continuous improvement in financial reporting processes, systems, and controls. They identify opportunities to streamline processes, automate repetitive tasks, and enhance the efficiency and effectiveness of financial reporting operations.
In summary, the Controller's role in financial reporting is essential for maintaining the accuracy, integrity, and transparency of financial information. By overseeing financial statement preparation, establishing accounting policies and procedures, ensuring compliance with internal controls and regulatory requirements, and driving continuous improvement, the Controller helps ensure that stakeholders have access to reliable and timely financial information for decision-making and accountability purposes.
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The Controller plays a crucial role in financial analysis within an organization, providing insights into the company's financial performance, trends, and opportunities for improvement. Here's how the Controller contributes to financial analysis:
Financial Statement Analysis: The Controller conducts in-depth analysis of financial statements, including the balance sheet, income statement, and statement of cash flows. They assess key financial ratios, trends, and benchmarks to evaluate the company's financial health, profitability, liquidity, and solvency.
Variance Analysis: The Controller analyzes variances between actual financial results and budgeted or forecasted amounts. They identify the underlying causes of variances, such as changes in revenue, expenses, or operating performance, and communicate insights to management to support decision-making and performance improvement.
Cost Analysis: The Controller performs cost analysis to understand the cost structure of the business and identify opportunities for cost optimization and efficiency improvement. They analyze costs by product, service, department, or activity to allocate resources effectively and maximize profitability.
Profitability Analysis: The Controller evaluates the profitability of different business segments, products, or customer groups. They assess revenue streams, margins, and contribution margins to identify areas of strength and weakness and allocate resources strategically to maximize profitability.
Capital Budgeting Analysis: The Controller assists in capital budgeting decisions by evaluating investment opportunities, assessing their financial feasibility, and estimating their potential return on investment (ROI). They analyze cash flows, payback periods, net present value (NPV), and internal rate of return (IRR) to prioritize capital projects and allocate resources effectively.
Financial Forecasting: The Controller assists in financial forecasting and planning processes by providing insights into future financial performance based on historical trends, market conditions, and business drivers. They prepare financial models, scenarios, and projections to support strategic planning, budgeting, and decision-making.
Risk Analysis: The Controller assesses financial risks and uncertainties that could impact the company's financial performance and stability. They analyze risks related to market volatility, economic conditions, regulatory changes, and other factors, and develop strategies to mitigate risks and protect the company's financial interests.
Management Reporting: The Controller prepares and presents financial analysis reports and dashboards to management, providing actionable insights and recommendations for improving financial performance and achieving strategic objectives. They communicate financial analysis findings effectively to facilitate informed decision-making and drive performance improvement initiatives.
In summary, the Controller's role in financial analysis is essential for providing management with actionable insights into the company's financial performance, trends, and opportunities for improvement. By conducting comprehensive analysis, evaluating key financial metrics, and providing strategic recommendations, the Controller helps guide decision-making, optimize resource allocation, and drive sustainable growth and profitability.scription text goes here
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The Controller plays a pivotal role in financial process management within an organization, overseeing the design, implementation, and optimization of financial processes to ensure efficiency, accuracy, and compliance. Here's how the Controller contributes to financial process management:
Process Design and Standardization: The Controller designs and standardizes financial processes, workflows, and procedures to ensure consistency and efficiency across the organization. They establish best practices, document process flows, and define roles and responsibilities to streamline operations and reduce the risk of errors or redundancies.
Internal Controls Implementation: The Controller implements internal controls to safeguard assets, prevent fraud, and ensure the integrity of financial reporting. They design and implement control activities, such as segregation of duties, authorization procedures, and reconciliation processes, to mitigate risks and ensure compliance with regulatory requirements.
Financial Systems Integration: The Controller oversees the integration of financial systems and software applications to streamline financial processes and improve data accuracy and reliability. They assess system requirements, select appropriate software solutions, and oversee implementation and integration efforts to ensure seamless operation and data integrity.
Process Automation: The Controller leverages technology to automate routine financial processes and tasks, such as accounts payable, accounts receivable, and financial reporting. They identify opportunities for process automation, implement workflow automation tools and software solutions, and monitor performance to optimize efficiency and productivity.
Financial Reporting Enhancement: The Controller enhances financial reporting processes to ensure accuracy, timeliness, and transparency of financial information. They optimize reporting templates, implement standardized reporting formats, and leverage reporting tools and software to streamline the preparation and distribution of financial reports to stakeholders.
Compliance Monitoring: The Controller monitors compliance with financial policies, procedures, and regulations to ensure adherence to internal controls and regulatory requirements. They conduct periodic reviews, audits, and assessments to identify compliance gaps, address control deficiencies, and mitigate risks of non-compliance.
Process Improvement Initiatives: The Controller leads process improvement initiatives to enhance the efficiency and effectiveness of financial processes. They identify opportunities for process optimization, conduct root cause analysis, and implement process enhancements, such as workflow redesign, technology upgrades, or training programs, to drive continuous improvement.
Training and Development: The Controller provides training and development opportunities for finance staff to ensure competency and proficiency in financial processes and systems. They develop training programs, provide guidance and support, and foster a culture of continuous learning and improvement to enhance the skills and capabilities of the finance team.
In summary, the Controller's role in financial process management is instrumental in ensuring the efficiency, accuracy, and compliance of financial operations. By designing and implementing standardized processes, internal controls, and automation solutions, the Controller helps optimize financial performance, mitigate risks, and support the organization's strategic objectives.ription
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The Controller plays a central role in managing internal financial controls within an organization, ensuring that financial processes and transactions are conducted in accordance with established policies, procedures, and regulatory requirements. Here's how the Controller contributes to managing internal financial controls:
Designing Control Frameworks: The Controller designs and implements a comprehensive framework of internal financial controls to safeguard assets, prevent fraud, and ensure the accuracy and reliability of financial reporting. This framework encompasses control activities, such as segregation of duties, authorization procedures, and reconciliation processes, tailored to the organization's specific risks and objectives.
Documentation and Policies: The Controller documents internal control policies, procedures, and guidelines to provide clear guidance to finance staff and ensure consistency in control execution. They establish control documentation standards, maintain control matrices, and communicate control requirements to relevant stakeholders across the organization.
Risk Assessment: The Controller conducts risk assessments to identify and prioritize financial risks that could impact the organization's objectives and financial statements. They assess risks related to financial reporting, compliance, operations, and other areas, and develop strategies to mitigate risks through effective internal controls.
Implementation and Enforcement: The Controller oversees the implementation and enforcement of internal financial controls throughout the organization. They ensure that control activities are executed effectively, monitor compliance with control procedures, and take corrective actions as needed to address control deficiencies and mitigate risks.
Monitoring and Testing: The Controller monitors the effectiveness of internal financial controls through ongoing monitoring and testing activities. They perform periodic reviews, audits, and assessments to evaluate the design and operating effectiveness of controls, identify control weaknesses or deficiencies, and implement remediation measures to strengthen controls.
Segregation of Duties: The Controller ensures proper segregation of duties within the finance function to prevent conflicts of interest and reduce the risk of errors or fraud. They design control procedures that distribute responsibilities among multiple individuals to create checks and balances and enhance control effectiveness.
Training and Awareness: The Controller provides training and awareness programs to educate finance staff and other relevant stakeholders about internal financial controls. They promote a culture of compliance and accountability, emphasizing the importance of adhering to control procedures and ethical standards in financial operations.
Communication and Reporting: The Controller communicates internal control findings, recommendations, and status updates to management, the board of directors, and other stakeholders. They prepare reports and presentations on control activities, control deficiencies, and remediation efforts to facilitate informed decision-making and accountability.
In summary, the Controller's role in managing internal financial controls is essential for ensuring the integrity, reliability, and compliance of financial operations. By designing and implementing effective control frameworks, monitoring control effectiveness, and promoting a culture of compliance and accountability, the Controller helps mitigate financial risks and safeguard the organization's assets and reputation.
Outsourced Bookkeeping
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A bookkeeper's role in day-to-day accounting is fundamental to maintaining accurate financial records and ensuring the smooth operation of business finances. Here's an overview of their responsibilities:
Recording Transactions: Bookkeepers are responsible for recording all financial transactions, including sales, purchases, expenses, and payments, into the appropriate accounting system or ledger. This involves accurately categorizing transactions based on their nature and ensuring that they are recorded in the correct accounting period.
Maintaining General Ledger: Bookkeepers maintain the general ledger, which is the central repository for all financial transactions. They update ledger accounts regularly to reflect changes in financial position and ensure that the ledger balances accurately with supporting documentation such as invoices, receipts, and bank statements.
Accounts Payable: Bookkeepers manage accounts payable by recording and tracking invoices received from vendors, verifying the accuracy of vendor invoices against purchase orders and receipts, and processing payments in a timely manner. They also reconcile accounts payable balances with vendor statements to ensure accuracy and resolve discrepancies.
Accounts Receivable: Bookkeepers handle accounts receivable by invoicing customers for goods or services provided, tracking customer payments, and following up on overdue accounts. They reconcile accounts receivable balances with customer payments and resolve any discrepancies to ensure accurate reporting of receivables.
Bank Reconciliation: Bookkeepers perform bank reconciliation by comparing the company's bank statements with its accounting records to ensure that all transactions are accounted for and recorded accurately. They identify and reconcile discrepancies between the bank statement and the general ledger, such as outstanding checks, bank fees, and deposits in transit.
Financial Reporting: Bookkeepers assist in preparing financial reports, such as income statements, balance sheets, and cash flow statements, by providing accurate and up-to-date financial data. They compile and organize financial information in a format suitable for analysis and reporting, ensuring compliance with accounting principles and regulatory requirements.
Payroll Processing: In some organizations, bookkeepers may be responsible for processing payroll, including calculating employee wages, withholding taxes, and other deductions, issuing paychecks or direct deposits, and preparing payroll tax filings. They ensure that payroll transactions are accurately recorded and reported in compliance with applicable laws and regulations.
Commucation and Collaboration: Bookkeepers often collaborate with other members of the accounting and finance team, as well as with other departments such as sales, purchasing, and human resources. They may communicate with vendors, customers, and employees to resolve accounting issues, answer inquiries, and provide assistance as needed.
In summary, a bookkeeper's role in day-to-day accounting is essential for maintaining accurate financial records, managing cash flow, and supporting the overall financial health of the organization. Their attention to detail, accuracy, and organizational skills are crucial for ensuring the integrity and reliability of financial information for decision-making and reporting purposes.
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The bookkeeper's role in the monthly close process is critical for ensuring the accuracy and completeness of financial records at the end of each accounting period. Here's an overview of their responsibilities during the monthly close:
Preparing and Recording Transactions: Throughout the month, the bookkeeper diligently records all financial transactions in the accounting system, ensuring that each transaction is accurately categorized and documented.
Reconciling Accounts: As part of the monthly close process, the bookkeeper reconciles various accounts to ensure that the balances reported in the general ledger are accurate and in line with supporting documentation. This includes bank reconciliations, accounts receivable reconciliations, accounts payable reconciliations, and other balance sheet account reconciliations.
Adjusting Entries: The bookkeeper may need to make adjusting journal entries to correct errors, allocate expenses, or recognize revenues that were not recorded during the month. These adjustments ensure that the financial statements accurately reflect the company's financial position and performance for the period.
Accruals and Deferrals: The bookkeeper may be responsible for recording accruals and deferrals to properly match revenues and expenses to the period in which they are earned or incurred. This may include accruing for expenses that have been incurred but not yet paid, or deferring revenues or expenses that pertain to future periods.
Reviewing Financial Statements: Once the necessary adjustments have been made, the bookkeeper reviews the financial statements to ensure that they are accurate and complete. This includes reviewing the income statement, balance sheet, and cash flow statement for any discrepancies or anomalies that may need further investigation.
Preparing Financial Reports: The bookkeeper assists in preparing financial reports for management and other stakeholders at the end of each month. These reports may include the income statement, balance sheet, cash flow statement, and other financial metrics or KPIs relevant to the business.
Assisting with Audit Preparation: If the company undergoes an external audit, the bookkeeper plays a key role in assisting auditors by providing supporting documentation, answering inquiries, and facilitating the audit process. They ensure that all requested information is readily available and accurate.
Communication and Collaboration: Throughout the monthly close process, the bookkeeper collaborates closely with other members of the accounting and finance team to resolve any outstanding issues, address discrepancies, and ensure that the close process proceeds smoothly and efficiently.
Overall, the bookkeeper's role in the monthly close process is essential for maintaining accurate financial records, producing reliable financial statements, and ensuring compliance with accounting standards and regulatory requirements. Their attention to detail, organizational skills, and ability to work efficiently under pressure are critical for a successful close each month.
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The bookkeeper plays a crucial role in expense management within an organization, ensuring that expenses are accurately recorded, tracked, and managed to optimize financial resources. Here's how the bookkeeper contributes to expense management:
Recording Expenses: The bookkeeper is responsible for accurately recording all expenses incurred by the organization. This includes expenses such as office supplies, utilities, rent, payroll, travel, and other operational costs. Expenses are recorded in the accounting system using appropriate expense accounts based on the nature of the expenditure.
Categorizing Expenses: Expenses are categorized based on their type and purpose to facilitate analysis and reporting. The bookkeeper ensures that expenses are classified correctly according to the organization's chart of accounts, allowing for better visibility into spending patterns and cost allocation.
Monitoring Spending: The bookkeeper monitors spending against budgeted amounts and expense forecasts to identify variances and potential cost overruns. By tracking spending in real-time, the bookkeeper provides insights into where funds are being allocated and helps management make informed decisions to control costs.
Reviewing Expense Reports: If the organization has an expense reimbursement process for employees, the bookkeeper may be responsible for reviewing and processing expense reports. They ensure that expense reports are complete, accurate, and comply with company policies and guidelines before approving reimbursement.
Reconciling Accounts: The bookkeeper reconciles expense accounts regularly to ensure that recorded expenses align with supporting documentation, such as receipts, invoices, and credit card statements. Reconciliations help identify discrepancies and errors in expense reporting and ensure the accuracy of financial records.
Identifying Cost Savings Opportunities: The bookkeeper collaborates with management to identify opportunities for cost savings and expense reduction. By analyzing spending patterns and trends, the bookkeeper can pinpoint areas where expenses can be minimized or eliminated without compromising operations.
Vendor Management: The bookkeeper manages relationships with vendors and suppliers to negotiate favorable terms, pricing, and payment terms. They may review vendor contracts, negotiate discounts, and evaluate alternative suppliers to optimize procurement and reduce costs.
Reporting and Analysis: The bookkeeper prepares expense reports and analysis for management to review spending trends, variances, and performance against budgeted targets. These reports provide insights into the organization's financial health and help identify opportunities for improvement in expense management practices.
In summary, the bookkeeper's role in expense management is essential for maintaining accurate financial records, controlling costs, and optimizing financial resources. By recording expenses accurately, monitoring spending, analyzing trends, and identifying cost-saving opportunities, the bookkeeper helps the organization achieve its financial objectives and improve overall profitability.
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The bookkeeper's role in supporting Certified Public Accountants (CPAs) is integral to ensuring accurate financial reporting and compliance with regulatory requirements. Here's how bookkeepers contribute to CPA support:
Maintaining Accurate Financial Records: Bookkeepers are responsible for recording and organizing financial transactions in the accounting system throughout the year. By maintaining accurate and up-to-date financial records, bookkeepers provide CPAs with the foundation they need to prepare financial statements and tax returns.
Organizing Financial Documentation: Bookkeepers organize and compile financial documentation, such as bank statements, invoices, receipts, and expense reports, to support the preparation of financial statements and tax filings. They ensure that all relevant documents are organized and readily accessible for the CPA's review.
Reconciling Accounts: Bookkeepers reconcile bank accounts, credit card statements, and other financial accounts on a regular basis to ensure that recorded transactions match actual balances. Reconciled accounts provide assurance to CPAs that financial records are accurate and complete, reducing the risk of errors or discrepancies.
Preparing Supporting Schedules: Bookkeepers prepare supporting schedules and workpapers that provide detailed breakdowns of account balances, transactions, and other financial data. These schedules assist CPAs in verifying the accuracy of financial statements and identifying areas that require further examination or adjustment.
Assisting with Audit Preparation: Bookkeepers assist CPAs in preparing for financial audits by gathering requested documentation, answering inquiries, and providing explanations for accounting practices and procedures. They work closely with CPAs to ensure that audit procedures are completed efficiently and effectively.
Providing Financial Analysis: Bookkeepers may provide financial analysis and insights to CPAs to help them understand the organization's financial performance and identify areas for improvement. By analyzing financial data and trends, bookkeepers assist CPAs in making informed decisions and recommendations.
Communicating Financial Information: Bookkeepers communicate regularly with CPAs to provide updates on financial activities, discuss accounting issues or concerns, and address any questions or requests for information. Clear and open communication ensures that CPAs have access to the information they need to fulfill their responsibilities effectively.
Supporting Tax Preparation: During tax season, bookkeepers support CPAs in preparing and filing tax returns by providing accurate financial records, reconciliations, and supporting documentation. They assist CPAs in identifying tax deductions, credits, and compliance requirements to optimize tax outcomes for the organization.
In summary, the bookkeeper's role in CPA support is essential for facilitating accurate financial reporting, compliance with tax regulations, and effective financial management. By maintaining accurate records, organizing financial documentation, reconciling accounts, and providing assistance and analysis, bookkeepers enable CPAs to fulfill their responsibilities and provide valuable financial insights and guidance to the organization.