Understanding The Numbers
As your business continues to grow in revenues, you will definitely need more than the basic bookkeeping service to manage the finances. At the Controller level, financial reporting and analysis are needed to interpret what the numbers mean for the business. This high-level analysis enables the Controller to advise the CEO on activities that protect the assets and limits or mitigates potential risk to the business. The Controller focuses on operational oversight and effectiveness as well as manage the bookkeeping and accounting.
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Insight you can count on
Monthly activity includes complex transactions, accrual accounting, inter company transactions, significant month end journal entries and etc. We will verify the data entered in the general ledger and prepare adjusting journal entries and reclassifications as needed. This data is then used to generate reports, analyze the account, and generate financial reports such as the income statement, balance sheet and cashflow statement. Supplemental reports and internal management reports are also provided as needed. Our role as virtual Controller will aid the business owner in understanding the impact of financial decisions.
Getting results; what’s next?
The month-end close process facilitates reports that bring key financial indicators together. A better understanding of actual profitability, and an awareness of cash flow in the business is the result of these key financial reports. Our bookkeeping process turns the information from the ledger into statements that reveal the bigger picture of the business, and the path the company is progressing on.
Ignoring your financial statement is like ignoring the health of your business. Startups and new business owners often overlook understanding gross margin. This can have a direct impact on your ability to effectively manage a growing business, price your products, and most importantly, make a profit.