CFO for Growth’s Post

So you’ve decided it’s time to bring on help for your accounting and finance. Where do you begin? There are two more things to consider before putting out a job posting. 1.      Which position should be hired first, or next? 2.      Do you want to hire an employee, or outsource the role? I believe the order of hiring should be 1. Bookkeeper. 2. Controller/CFO 3. Additional support staff, dependent on where the help is needed  Why? Because the bookkeeper handles the base transactions that builds the foundation of the business. It's important that this is done right to be able to do the next level analysis. After there’s a bookkeeper on staff, then I recommend hiring a Controller or CFO to handle the analysis that will really help your business grow. After that, what are the business goals? Is your business struggling with having Accounts Receivable and Accounts Payable processed in a timely manner? Then an Accounting Clerk or AR/AP specialist would be next on my list. Needing more assistance in managing inventory and all the transactions that go with that? Then an Inventory Clerk would be next. Then there’s the other big decision – to hire an someone in-house as a direct employee, or outsource the function? This is a decision that will be more personal to each business. Some of the pros and cons are: - Direct employees allow direct control and oversight of the finance function. - In-house roles can be tailored to your business's unique needs and culture - Having an direct employee can lead to opportunities for closer collaboration and integration with other departments - Outsourcing the function can be a Cost-effective alternative, especially for small to medium-sized businesses - Hiring fractional personnel can give more access to specialized expertise and resources - Outsourcing can grant flexibility to scale services up or down based on business needs Ultimately, the decision to hire in-house or outsource depends on your business's unique circumstances, budget, and strategic objectives. Need help navigating these decisions? Let's chat about the best approach for your business's financial needs! #FinanceDecisions #InHouseVsOutsourcing #BusinessGrowth

Hiring financial professionals for your business is pivotal to its long-term success. However, you may have questions about whether your business needs a bookkeeper, accountant, or even an outsourced CFO. This week, I'll be breaking down each of these roles, including signs it's time for you to hire. If you need more financial management support for your business but aren't sure what level of support you need, feel free to send me a message. I'll be happy to answer your questions. #FinancialManagement #BusinessFinance #fractionalCFO #Bookkeeper #Accountant #OutsourcingServices #BusinessAdvice

“I can’t find a bookkeeper or an AP specialist. Can you help?”     Whenever I talk to other business owners about the roles they’re struggling to fill, it’s finance and accounting that comes up.     And I always tell them the same thing: you’re looking in the wrong place.     Literally.       We’ve got about 300+ accounting team members supporting our US partners.     They’re all…   ✅ College educated in accounting  ✅ Experienced in AR/AP tasks  ✅ Trained in multiple accounting software packages  ✅ Available US hours  ✅ With great experience    And they can start in about 14 days.       Hiring junior finance and accounting team members in the US has become so challenging that senior staff end up picking up the work just to get it done.     It slows a business down and wears down finance leaders who should be able to focus on the bigger picture.       But accounting is a global language — its principles are consistent wherever you are in the world.     And that makes it easier to find great finance talent outside the US.       Outsourcing isn’t just delegating tasks. It’s finding team members for all kinds of roles.     There’s a whole workforce of talented accounting staff ready to start work and free up time in your business.     You’ve just got to know where to find them.         #GlobalOutsourcing #TalentShortage #Recruitment #Accounting 

As a business owner, managing your finances can be a daunting task, especially if you're not well-versed in bookkeeping and accounting. I know this from personal experience, having started 5 businesses in my career. But what if I told you that you could have access to a team of financial experts without breaking the bank? Fractional workers are a great solution for businesses that need financial expertise but can't afford to hire a full-time team. Imagine having a bookkeeper, senior accountant, controller, and CFO for less than $10k/month! And these aren't just any financial professionals, they're experienced individuals who have worked for the Big 4. I recently started a new job where I help business owners access these incredible fractional financial resources. With no long-term contracts and unbeatable value, we can help strengthen your team and take your business to the next level. Don't let financial worries hold you back. Schedule a 15-minute call with me and I'll show you exactly what you can expect for your money. Let's take your business to new heights together! Message me and I'll send you the link to schedule time with me. #accounting #finance #bookkeeping #fractionalcfo #businessowner #selfemployed

[Business Toolbox] Q: Is it worth hiring a bookkeeper? What do they actually do? As businesses strive to navigate the complex financial landscape, the question often arises, "Is it worth hiring a bookkeeper?" The unequivocal answer is yes, and here's why. Ben Walker from Inspire - Life Changing Accountants shares his insights on why bookkeepers are more than just number crunchers. https://lnkd.in/gM7RrDac #bookkeepers #accountants #finance #businesstoolbox #electricalgems

Considering hiring a bookkeeper? Here are 5 underrated questions to make the right choice: 1. 𝐀𝐜𝐜𝐨𝐮𝐧𝐭𝐢𝐧𝐠 𝐁𝐚𝐜𝐤𝐠𝐫𝐨𝐮𝐧𝐝: Do they come from an accounting background? Ensure expertise in handling financial matters. 2. 𝐓𝐫𝐞𝐧𝐝 𝐄𝐝𝐮𝐜𝐚𝐭𝐢𝐨𝐧: Will they educate you on trends? Stay ahead by understanding the latest in finance. 3. 𝐓𝐚𝐬𝐤 𝐯𝐬. 𝐁𝐞𝐧𝐞𝐟𝐢𝐭: Are they focused on tasks or benefits? Ensure they prioritize your overall financial well-being. 4. 𝐓𝐢𝐦𝐞 𝐀𝐧𝐝 𝐌𝐨𝐧𝐞𝐲: Will they help you save time and money? ⏰💰 Efficiency matters! 5. 𝐓𝐚𝐱 𝐁𝐞𝐧𝐞𝐟𝐢𝐭𝐬: Will they help you claim tax benefits? Maximize your returns! Excited to hear your thoughts! 💬 What other questions do you think are crucial? Comment below! Let's make hiring a breeze! . . . . . . . . .#FinanceInsights #BookkeepingTips #BusinessFinance #HiringDecisions #LinkedInWisdom #FinancialWellness #TaxSavings #EntrepreneurshipJourney #CareerAdvice #stashbookkeeping #bookkeeping #accounting #BookkeepingTips #BookkeepingServices #smallbusiness #payroll #remotebookkeeping

Does your construction business have a turnover of up to £10m? 🛠️ Consider a virtual finance department instead of a full finance team. To be honest, I’d be surprised if you had a full finance team. It would cost around £300k a year to hire each individual full-time. A virtual finance department provides you with a comprehensive finance team's expertise without the need to hire each role full-time. You get the same skills but with the blend you need (at a much cheaper price). For example, let’s compare the financial controller role: In a full finance team: They're employed full-time, with a full salary. In a virtual finance department: They contribute to about 20% of the specific tasks you need, seamlessly integrated with the virtual team's services. The other thing with hiring a full finance team is ensuring they are all doing the job well. In reality, you don’t even know how to do their job. Interested in hiring a virtual finance department? Get in touch Mayflower Accountancy & Tax. #FinanceDepartment #ConstructionFinance #ConstructionAccountant #Construction

Not sure what roles you need to fill for your finance functions as a start-up? Here's a quick summary to help you out: 1) Bookkeeper: Hire ASAP. They will handle transactional items and a knowledgeable, efficient bookkeeper will get you set up for success. 2) Accountant/Controller: Hire with increased complexity of accounting needs. They will be a great asset in keeping accurate, timely, and useful data, especially when shifting to accrual-based accounting or implementing more sophisticated systems and processes. 3) CFO: Hire when the need arises to make data-driven decisions. They will drive forward-thinking strategy and forecasts, shifting you from being reactive to being proactive in how you run the business. ALL of these roles can start in a part-time (W-2) or fractional (1099) capacity and expand to full-time gradually as the volume or scope of work increases. The key takeaway is don't put the cart before the horse. Hire full-time once the need is truly there. Your bank account will thank you! If you are sitting here wondering when/if you should hire a finance addition, DM me with "Finance Hiring" and I'll be happy to talk through it with you. ... If you like my content follow #cfojamie #fractionalcfo #fcfo #financialclarity #financials #accounting #processes #efficiency #automation #operations #inventory #reconciliations

Essential Skills for Top-Notch Bookkeepers! 🧾 Hiring a bookkeeper? Here's what to look for: Accounting Knowledge 📊 Data Entry Precision ✍️ Spreadsheet Proficiency 📑 Invoicing & Accounts Management 💸 Time Management ⏰ Accounting Software Expertise 💻 Clear Communication 🗣️ Analytical Skills 🔍 At Keeping the Books, our team excels in these skills to ensure your business's financial success! 🌟 #Bookkeeping #Accounting #SmallBusiness #Finance #KeepingTheBooks #RI #NewEngland #BusinessFinance #Bookkeepers #EssentialSkills

Save time and effort by hiring a bookkeeper! At Accounting Insight, we’ll handle the day-to-day financial tasks, leaving you with more time to connect with customers, brainstorm ideas and elevate your business to new heights. Find out more at our website (link in the comments). #TimeManagement #BusinessSuccess #growyourbusiness #bookkeeper #accountant