Why pay $$$ for a Controller
Businesses that can afford to hire a fulltime Controller are normally multi-million dollar companies. A Controller’s salary, and benefits, can be huge.
At Business Builders, we provide you with the part-time help you need with no high salary or benefits!
So what do we do? Basically, “anything money”. For some companies we handle it all: invoicing your customers, paying bills on time, reconciling checking account statements, reconciling charge card statements, watching Account Receivable for non-payment, creating monthly financial statements, comparing financial trends, and meeting with the owner on the results.
You can select them all, or just a few. Your monthly financial meeting is handled by Melanie and things such as increased expenses, declining sales, profit margins, etc are all discussed. Your on top of your business!
Controller duties can be done onsite weekly, a few days a month, or remotely. You’ll sleep better knowing where you stand financially!
How it Works
The first step is discussing your needs. A FREE phone consultation will begin the process. Situations we have uncovered follow:
Your Controller is Retiring
Many companies have had a Controller in place for years. You may have retained them with a business purchase or they were hired years ago into your family business. Many companies, today, don’t have a need for a high paid individual in this position.
With this company, Business Builders requested a list of the retiring Controllers daily duties. After reviewing this list, with the owners, it was easily seen how a part-time person and monthly financial balancing and reporting, by Business Builders, was a much more cost-effective way of achieving the same, maybe better, results.
Expansion & Needs Change
This company had survived many years just utilizing their CPA on an annual basis. At year end, the CPA sent in a clerk to gather all records. They then took at least 4 months to compile the annual tax return. An extension needed filed and by October the owners had the results of their prior year performance! A bit late to adjust for the current year! Their banker wasn’t too happy with the dated information either.
The company was expanding and the bank was requiring quarterly financial records to secure the loan. Business Builders entered, compiled the data, set up systems for all entities and now provides the customer with monthly financial updates on every entity. The bank is happy, the business has the ability to borrow funds quickly, and the business is considered reputable, with a “Controller” able to answer financial questions.
A Growing NonProfit
Business Builders has had experience with numerous nonprofits from dance schools to churches to international endeavors. Nonprofits rely heavily on grants and donations. When applying for a grant, financial statements need to be current and accurate. Questions need answered by a knowledgable individual. A CPA may charge thousands for this service.
Business Builders visits the nonprofit at least once per month to ensure the entity is properly operated. Reports are generated, and presented, to the monthly meeting of the nonprofit Board of Directors. The Board is assisted with the preparation of their Annual Budget and comparisons between actual performance and budgeted goals are communicated monthly.
Get In Touch
Your first call is free! Let’s talk about your idea and brainstorm. We’ll ask lots of questions to get you thinking, and excited! After all, this is YOUR dream.
Whether an individual or business, large corporation or mom & pop operation, knowledge of your financial information is the difference between growth, potential and profitability. Let Business Builders help!