In the world of accounting the size of a company doesn’t matter as no matter how small or how big a company is, a solid accounting foundation is the keystone to supporting a business as it grows and expands.
The key is to put in place an accounting foundation for where you are today and that will grow and adapt to the changes in your business.
I know as a business owner you have a lot on your plate and so I imagine you are thinking:
- “I don’t have time, or a desire to create an accounting foundation, I just need to get orders shipped!”
- “I’m too small to need an accounting foundation – I will deal with it when my company is bigger.”
- “I can’t afford a fancy business consultant to create an accounting system that will create reports I don’t understand.”
- “I make widgets – I didn’t start this business to learn accounting”.
Look at the example of building your dream house. You have a vision of a house that will have a gourmet kitchen, a beautiful master suite, a fantastic entertainment area in your walkout basement and so much more!
What if you tried to build the house yourself?
- How much time would you spend trying to learn plumbing, electrical, flooring, foundation work?
- How much will it cost to redo the plumbing if designed wrong?
- What if the walls aren’t straight and level?
- What happens if the budget plan was way off?
These questions are why most people hire a general contractor. The contractor is who will take your vision and create the plan so that you have an idea of who, what, when, where and how before the first shovel of dirt is removed. The general contractor will also make sure that the plan goes smoothly, tells you when something in the design needs to be changed, knows the building codes, stays on budget and will even modify design if your vision for the house changes.
All you need to do is focus on your life and pack your bags when your dream house is complete!
In the world of accounting, the controller is your general contractor and just like with building a house, the controller will work with you to create the blueprint for the business you envision. The controller will periodically adjust the blueprint as well as making sure the accounting foundation is providing the support your business needs to be successful.
What happens if you try to do everything yourself?
- What happens if your product cost is $8 and set the sales price at $9? Or worse $7.75?
- What happens if a payroll tax payment is missed? Or a sales tax payment?
- What happens if an order is shipped but the customer was never invoiced?
- What happens if you run out of a key part and production shuts down?
- What happens when your tax bill is high simply because of bad or missing numbers?
Can you afford to hire a controller as employee? Probably not, but you can hire an on-call controller who can help you as much or as little as you need, and they will cost far less than a full-time employee. There are plenty of accounting firms that now offer bookkeeping and controller services together in one package that can be tailored to your needs and budget.
Remember when building a house, the size doesn’t matter as you need a general contractor regardless and the same is true with building a business!
To find out more about how Beyond Accounting can be your general contractor and help you build a strong foundation for your company, give us a call today for a free consultation at 888-893-7593!!
About the author: Nancy Rumfelt, owner of Beyond Accounting has always loved puzzles and mysteries and realized that she also loves helping companies solve their mysteries of what isn’t working and how to find the missing pieces to complete their success puzzle. Along the way Nancy has developed a knack for understanding manufacturing operations and finding solutions that are simple to use and work for companies small or large.
With over 30 years of accounting and business experience, she can provide a wide range of services to a diverse set of industries such as manufacturing, construction, service or retail.