One of the simplest things you can do to get your finances organized is to hire a bookkeeper. Online bookkeeping services take care of the minutiae of recording financial records both correctly and on time.
With a bookkeeper by your side, you get a partner who looks into historical data and performs data entry and analysis. They have the expertise and attention to detail to assist your business in:
Creating financial transaction databases
Processing payroll
Managing and paying accounts
Checking reports for accuracy
Reporting data management irregularities
Invoicing customers
Reconciling accounts
Online bookkeeping services flex with you as your needs change. In fact, growing organizations often take greater advantage of online bookkeeping and even use it as a springboard to build out their accounting function.
“These folks are just fantastic. The bookkeeping team is responsive, knowledgeable, and patient. More importantly, their skill set goes way beyond general bookkeeping—they've offered insightful, strategic input on many occasions.” —Katie Caverly, IKOR
Gaze into this magic crystal ball—your future is prosperous.
OK, so CFOs aren’t quite psychics, but they are the only pros who focus on predicting your financial future. But instead of relying on unseen forces, CFOs lean on your financial data to analyze where your business could be heading in the coming months or years and what you can do to tip the scales in your favor.
The role of a CFO is clear: to make your organization more valuable to shareholders and increase the return on your business. Whether your partner is in-house or outsourced, CFO services work as a strategy partner to make decisions that get you closer to your financial goals. As you forge ahead, consider partnering with a CFO to help your business with:
Cash flow forecasting
Break-even analysis
Budget-to-actual reporting
Debt planning
Variable and fixed expense reporting
Of course, because they’re intricately tied to your business, CFOs can do much more than this. Whether it's helping with hiring or analyzing funding options, your CFO sets you up to meet your goals.
“Our company has been using Ignite Spot for over three years now, and we couldn't imagine working with anyone else. From bookkeeping to account management to CFO and business management services, they have truly transformed and helped guide our business from its infancy.” —Andrea Dondanville, Origin Point
Think about your career for a second. You started at the bottom, went through the middle ranks, and ascended to leadership, reporting to supervisors along the way. The same is true in accounting, and when you have a full accounting team, someone has to take charge.
A controller fills this role. They’re basically your lead accountant and point person to oversee the accounting system, from checking in with bookkeepers and accountants to managing financial strategy.
Controllers provide accountability for their team, overseeing bookkeepers and accountants so your financial operations stay on track with timelines and reports. They know that what happens with your business now can change its trajectory in the future, so controllers focus on the present to make sense of the current situation. In doing so, your controller aids your company in:
Creating accounting processes
Managing goals and signing off on reports
Tracking budget and margins
In a pinch, controllers can take on just about any accounting function, but they’re really meant to hold your accounting system together. So trust a controller to guide your team instead.
“Ignite Spot has been tremendous to work with ... They are very forward thinking on technology and have helped us streamline our processes as we have grown with them over the past two years ... Our Ignite Spot account manager acts as our controller and has a bookkeeper keep up with the transactions.” —Larry Rosenfeld, World Clinic
Which financial functions should you have on your side to enhance your accounting? Ideally, a full team with pros focused on specific aspects of your accounting system. Luckily you don’t have to hire for everything in-house. Ignite Spot is a premier outsourced accounting firm devoted to making business finances easier to manage through online bookkeeping, controller, and CFO services. Explore our outsourced services e-book to dig deeper into how we work to deliver comprehensive financial services.