‘A good financial control over business can make or break it.’ One would surely agree with this. Every business runs through customers, sales leads, money management, and investment. And controlling finances is another thing. To accurately manage business finances, companies seek to hire financial controller. Now I’m sure most of you would not be aware of financial controller, right. No need to worry at all guys.
Keeping all this in mind, we’re here to explore about FC and his role. Let’s start from scratch.
What do you mean by a financial controller (FC)?
Simply putting, a financial controller is a professional and company’s lead accountant. A FC is responsible for managing company’s finances, accounting activities and ensures that ledgers accurately reflect money coming in and out of the company. Additionally, he provides a bridge between management and accounting. Every finance or money related activity happening in the business will be controlled by a financial controller.
Let’s now move further and talk about the duties/role of a FC.
The role of a financial controller
Why do accounting firm/businesses/companies look for employing financial controller? Because operate the business finances effectively and efficiently. The main duty of FC is to manage accounting work and monitor internet control as well. However, the main duties of FC include:
#banking
#finance activities
#proper reporting or payment
#insurance recommendations
#manage corporate documents
Furthermore, a financial controller provides a bucket of information which every business needs to efficiently run their business. Thereby, the ultimate responsibility of a FC is to deal with finance, accounting, marketing, money management, transactions, and finally ensure that business is under control and is profitable. Being a business, you can also go with accounting services in san antonio.
Now have a look at the rubdown of responsibilities of a FC
Additional responsibilities of a financial controller
- – Helps in maintaining the company’s bank balance
- – Manage all required reporting to the bank and back system reports
- – Maintain and renews the company’s insurance
- – Manages monthly sales and use tax returns
- – Approve if any invoice is due or need to be paid on time
- – Helps in reconciling all bank statements and monthly financial reports
- – Carefully read and reviews company’s important documents that require approval
- – He ensures that all the financial statement of the company are correct, accurate and precise
- – Update monthly projections with actual and real figures
- – Optimize important information system
These are some of the additional role of a financial controller that you just read now. Meanwhile, you may also like to hire virtual bookkeeping services in new york.
Should you hire a financial controller for your business?
Before I talk about it, firstly, you tell me do you want to want to manage or control your business finances? If yes, then you must definitely go with hiring a financial controller for your business as well. An experienced and professional FC can help you grow your business in very less time. Let me put it in other words, a good FC implement improved processes and tools to streamline a business’s day-to-day finances. Since you’re running your business and have no knowledge about what it takes to manage overall company’s finances, you may not handle that. That’s where you feel the need to hire someone who has profound knowledge in business finance and money related matter. And financial controllers are one of the crucial assets of the business. There are many companies in austin that have hired FC along with bookkeeping services in austin as well.
Get started with financial controller now
Guys, are you read to hire a professional financial controller for your company? It would be wise decision I would say that you have made. With FC, you will get to explore diverse environment, develop financial skill set, and gain more flexibility in the business itself. Without any spec of doubt, FC will bring you many benefits altogether. You just need to hire then and work with them. In very short time, they will do wonder for your business as well.
In case, you have any kind of query to ask or want related information, Kayabooks is here to clear all your doubts. Just get in touch with us right here. We will be happy to solve your query.