Change and growth is part of every healthy business. There is no rule dictating when you should hire new finance experts. However, if you are not confident that your company is running at maximum efficiency, it could be time to expand your finance team by hiring a new finance expert.
Below is a selection of finance experts to compliment your business needs now, and in the exciting years ahead.
Bookkeeper
If you are not sure what a bookkeeper does, then you’re probably wondering if you need one. Bookkeepers can either be entry level or full charge. Entry level bookkeepers generally perform basic tasks such as data entry of financial transactions and maintaining the chart of accounts. Full charge bookkeepers have more responsibilities, however, even though they perform more complex tasks, their responsibilities are not usually as advanced as the responsibilities of an accountant.
- Maintain and track financial records,
- Manage payroll, invoicing, basic finance reporting requirements, and
- Track sales and cash flow, monitor revenue and expense projections, and prepare budget reports.
- Prepare business financial records for review and certification by accountants who work with the IRS as needed.
Accountant
It’s time to hire an accountant when finance tracking and reporting requirements exceed the bookkeeper role. The accountant you hire can oversee and expand the financial capacity of your business. The accountant provides you with:
- Ledger, reconciliation, and periodic statement management,
- Skills for managing international accounts as those develop, and
- The ability to identify tax break options and ways to contain costs.
Your accountant will maintain your financial systems through growth until it’s time to consider the need for a controller.
Controller
Prepare to hire a controller when your business requires complex financial systems and procedures to manage growth and financial regulations. The controller:
- Works with the accounting manager on financial functions,
- Provides long-term forecasting and financial planning, and
- Brokers credit lines and terms.
Chief Financial Officer (CFO)
This role serves your business by:
- Managing all financial processes and procedures,
- Guiding business development or necessary reorganization, and
- Identifying financial and business trends, forecasting potential growth target
An Accounting & Finance Staffing Firm Can Help.
An accounting and finance staffing agency like Beacon Resources knows the ins-and-outs of the financial candidate market. Beacon Resources has a huge database of finance job seekers, including candidates who you won’t have access to by just checking the job boards.
Read our 2019 DLC Group Salary Guide to find out how much you can expect to pay finance experts, such as a bookkeeper, accounting manager, controller or CFO.
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