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Service Spotlight: Bookkeeping and Controller Services

Accountfully Service Spotlight: Bookkeeping and Controller Services

You’ve met our people, our clients, and learned more about the teams that support our services, but how about the services, themselves?  Welcome to the Accountfully service spotlight series, where we share the details on each outsourced accounting service.  Find out what we offer, how it can help, and see if it is a good fit for your business.

At the heart of a company’s accounting is its bookkeeping.  These are the regular tasks a new business owner experiences as they begin to start life as a functioning entity.  Paying bills, depositing funds from clients, sending invoices, and closing all of these expenses out at the end of each month.   Oftentimes we come across companies that already have a bookkeeping professional and/or process in play, but still lack the professional and strategic oversight of a controller-level accounting pro.  Enter the concept of bookkeeping and controller services.  Accountfully’s solution for customizable, flexible bookkeeping support that allows you to maximize your existing team and establish the baseline required for accessible financial data from which you can make decisions and grow your business.

What Is It?

We support your regular bookkeeping needs on a scaled-back level.  This ranges from bi-weekly support to acting as your controller who supports your existing bookkeeping team.  We ensure your work is getting done accurately and on time, and help facilitate an accurate and timely close of the books each month.  These services can range from the bookkeeping tasks themselves to just the controller-level oversight and management, depending on your needs.

Services and support we most often provide include:

  • Transaction coding within Quickbooks Online
  • Bank and credit card reconciliations
  • Month-end close processes
  • For inventory-based clients:
  1. inventory reconciliations
  2. posting sales and COGS
  3. reconciling sales portals
  • Payroll processing
  • Year-end 1099s and income taxes
  • Sales tax filings
  • We are available to oversee an existing team and can answer questions/provide feedback as needed.
  • We are available to check in every other week, monthly, or on a quarterly basis depending on your business’s support needs.  

So What Makes This Different from Outsourced Accounting?

Outsourced accounting is a more proactive service model with full-service, more “classic” accounting support in the transactions an accountant will typically manage on a regular basis.  Tasks like in-depth payroll processing, bill payment, accounts receivable, and invoicing are done on a regular basis.  Our bookkeeping service is designed to support the financial reporting side of the business and would be considered more of a reactive service in comparison. 

Full-service outsourced accounting may be a better option for those seeking enhanced support in:

  • Paying bills on behalf of the company.
  • Managing customer invoicing and accounts receivable.
  • Insight into weekly cash flow snapshots.
Bookkeeping and controller services make the most sense for companies in need of more basic support with a professional accounting polish, which brings us to our next FAQ.

When Do I Need It?

Any business that needs regular bookkeeping support benefits from this service.  If you have a regular bookkeeping team or a process in place but lack the more experienced oversight, a bookkeeper/controller level service offering will help keep the books on track and the month-end closes wrapped up on time.

These services benefit a range of businesses in need of a fresh start from the beginning, to a scaled-back solution to oversee an in-house team. 

Typically we see three common scenarios that use our bookkeeping and controller services:

  • A new business that wants to get the bookkeeping started off correctly from the beginning.
  • An existing business that is ready for a professional accountant to take charge and ensure the books are done properly.
  • An existing business that already has a process and/or team in place, but needs more professional oversight from a controller-level accountant.  They desire support for the financial/month-end close process to ensure that it is done accurately and on time.
By establishing an accurate baseline and ensuring that the bookkeeping is up to speed, it sets you up for success when the business grows and there is more complexity at play.  With accurate books and financial records, transitioning to full-scale outsourced accounting, and/or adding additional support services to aid in business expansion is an easy transition.  

Many of our bookkeeping clients add on more tax services and additional advisory or inventory-specific services as they grow.  

How Much Does It Cost?

These services are very customizable, depending on the level of support needed.  The most accurate pricing depends on your specific situation and/or the current service level required, but typically we will charge between $150 and $185 per hour, depending on the complexity level of the support required and amount of tasks performed.  

Set Up Phase:

New clients will go through a set up phase, which typically lasts between 30-45 days.  During this time we set up Quickbooks Online, gain access to bank and other important accounts, clean up any existing financial records to date, and do a month-end close.  This typically ranges between eight and 15 hours, but varies depending on the size and complexity of the business as well as the scope of work to be performed. 

What Do Your Clients Think?

After over a decade of business, Accountfully clients have a lot to say about the services we provide:

"When would I recommend a company hiring someone like Accountfully? Day One. Because, I think finances can be turned into like, your kitchen junk drawer. They get messy, really fast."
Chris Quinn • eHouse

How Do I Get Started?

For new clients, we will start by learning about your business and addressing the service level that meets your needs.  You can start by sharing the basic details of your business and scheduling a call on our contact page.  We will discuss the next steps during our call.

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