What is a Controller?
A Controller is a high level position that is responsible for a company’s accounting functions. In small businesses they also function as the CFO (Chief Financial Officer). This person is responsible for knowing the status and health of the company’s cash, assets, expenses, financial reporting and analysis, lending, budgeting and forecasting.
How “big” must my business be for Controller onDemand?
Business owners and entrepreneurs have many different hats to wear. They are often filling the role of director of marketing and sales, performing far too many administrative tasks and trying to stay on top of all the financial aspects of the business. Unfortunately, it usual takes tax error or cash flow crisis to make them realize they don’t know what they don’t know. Controller OnDemand helps them to manage all of the financial areas of their business, and plan for each phase of growth.
How much does a full-time Controller cost?
An average full-time Controller salary starts at $150K annually and, depending on their experience level , can be well over $200K. This is why a part-time Controller is a great option for a small business. You can get the expertise, services and advice without the full-time price!
If I already have an Accountant and/or a Bookkeeper – why do I need Controller onDemand?
Typically a bookkeeper records the revenue and does the data entry, nothing more. Your CPA prepares a yearly summary showing the total revenue and expenses that have been recorded and calculates your tax bill. There is something missing between a bookkeeper and a CPA, a Controller onDemand professional to plan, review and analyze on a regular monthly basis.
Research has shown that 50 percent of businesses will fail without a proper financial plan (budget) and that most businesses fail due to lack of internal expertise (they don’t control their cash or analyze their numbers). Or worse yet, they don’t even look at their numbers on a regular monthly basis. Numbers don’t lie!
Does Controller onDemand offer bookkeeping services?
Absolutely. Bookkeeping is the foundation to a successful business. That’s why it’s so important to get the right professional entering your receipts, reconciling bank and credit card statements. Controller onDemand can be that resource or we can help train, support and supervise your current bookkeeper.
Does Controller onDemand do tax returns?
No, we do not do tax returns. We leave that to the CPAs. This way we can provide constant, regular accounting support to your business without being interrupted during tax season. We have relationships with several area firms and can assist you in identifying the CPA that is the right fit your business.
Is Controller onDemand a temporary staffing agency?
No, we are not a temporary staffing agency. Here’s how we’re different. We provide a permanent part-time solution to your accounting needs. The same accounting professional will work with your company on a regular part-time basis, get to know your business and feel like part of your team.
What is EBITDA?
It means Earnings Before Interest, Taxes, Depreciation and Amortization. It is what companies use to put a value on their business when they are selling. Average business sale price is 2 to 5 times EBITDA but this varies by industry. It is also a great measure of what your company is worth today and great information to have as an owner. If Controller onDemand is on your team, you will know what your EBITDA number is.
What accounting software do you support?
We work with QuickBooks Desktop and QuickBooks Online so we are able to be an expert in one software to get the best result for our clients. We can also help you integrate industry-specific software to work well with QuickBooks or even suggest one for your specific needs. We can also convert your current software to QuickBooks Desktop or QuickBooks Online seamlessly.
How do I hire Controller onDemand?
Simply contact us. We set up a meeting to define the scope of the work and we submit a proposal. No contract or commitment is required. We also have a confidentiality agreement to reassure you that your information is protected.