Daily Accounting Operations with Controllership Focus Online

A normal day with Controllership Focus Online depends entirely on how much accounting help a business needs. Some businesses need the whole accounting package. Some just need controllership for financial strategy.

Most businesses benefit from the ‘online’ part of Controllership Focus Online: all data is kept on centralized, secure, and protected servers to give as-needed information access to all users. Through Business Performance Solutions Inc., a sister company to J A Smith & Associates and Controllership Focus Online, clients receive one of the highest levels of data protection.

Cloud computing servers are protected by anti-virus and anti-spyware software, a firewall, and backed up daily on a separate server. Client information is safer than if it were stored at the business itself.

Business Accounting Case Study Examples

Example One – Small Business
One of our clients is a husband-and-wife team. The wife handles a portion of the day-to-day accounting, but didn’t have time to manage some of the larger bookkeeping tasks: payroll, union dues, government reporting, and end-of-month bank reconciliation.

Our accountants manage the remaining bookkeeping tasks. Plus, once a month, the husband-and-wife team receive a controllership report to evaluate their business’ financial health.

Example Two – Medium-Sized Business
Another client had three different active divisions within their company, each of which required a certain level of analysis by a controller. CFO provided costing for each of these three divisions, helping the business owner evaluate each department’s profitability independently.

Additionally, an overall pricing project has been requested to make sure products have been priced to receive the expected gross profit.

Example Three – Accounting Overhaul
Sometimes, clients come to CFO looking for help. They know their system could be better, but are not sure how to fix it.

One client had a family member recording transactions in Quickbooks. They then hand-delivered the data to a professional accounting firm for a once-over. After several more weeks, the accounting firm would send the business owner corrected Quickbooks files for their records.

At the same time, the business owner duplicated the business transactions by hand to find out how much was in the bank. That information wasn’t accessible any other way.
They had a database system in place, but it was only half-done by an information technology company they had hired to install it. When they traveled south for the winter for a vacation, they had little to no idea what was happening or how healthy their business finances really were. It was a source of constant stress.

CFO converted all of their information to cloud computing solutions so that financial information could be accessed anywhere: even on vacation. Family members were trained to work with a streamlined bookkeeping system that eliminated duplicate records.

Even their real estate holdings were integrated online. Now, not only can the business owner now check up on all assets and legal documents from one internet-based location, accessible anywhere, but their property managers can access specific rental property information online, anytime.

A Few Common Business Accounting Questions

“I don’t have to fire my bookkeeper to use Controllership Focus Online, do I?”

No, absolutely not. The accounting system CFO will propose includes your existing bookkeeping staff, even if it’s you, the business owner, doing the bookkeeping at the moment.

However, it’s a good idea to look at what percentage of time your bookkeeper spends doing bookkeeping compared to business administration tasks. Part of the optimizing process CFO supplies will involve streamlining actual bookkeeping activities.

“Am I still in control of my money?”

Yes. As a business owner, you always make the decisions and write the cheques. Your controller will give you detailed information in the controllership reports, including projections or future cash requirements. When you write the cheques, you know your cash flow is managed and your money is well-spent.

“Does Controllership Focus Online supply the accounting software?”

No, you own a license to the accounting software itself. We will, however, handle the installation and management of that software in your virtual system.

“How do I access my financial information?”

A Controllership Focus Online system comes with a “Business Connect” intranet setup. As long as an internet connection is available, a business owner will be able to access their files, thanks to cloud-computing technology.

“Can I keep my year-end accountant?”

Of course. Our services are designed to help your business throughout the year and improve your accounting records. Our aim is not to replace your current year-end accountant, but to enhance your existing relationship with better-quality information.

Looking to Get Started?

Phone or email Controllership Focus Online today. Talk to one of our specialists to see if a Controllership Focus Online business accounting service could make a real difference to your bottom line.
Contact us here.