Author: Complete Controller

While most individuals are worried about strangers getting their hands on and misusing their personal information, the people who are actually most likely to commit crimes of fraud and embezzlement are those within the inner circle of trust. Businesses that have grown around a single point of contact, someone who performs all of the critical accounting functions, are the most exposed. Unfortunately, small businesses often cannot afford multiple employees to run their accounting functions. As these companies grow, that single point of contact becomes the one person who knows how to perform all functions properly. As a result, the separation of duties critical to fraud protection and accuracy is lost. What about the risk of losing that individual to sick leave, disability, vacation, or termination? This unhealthy dependency on a single key person is especially crippling in accounting, and that seems to be where we see it the most. A seasoned outsourced accounting firm will work with a business to implement protocols that encourage and support healthy accounting practices. Companies can achieve separation of duties and knowledge redundancy by working hand in hand with an adequately organized firm to split task work and create efficient workflow processes. The most efficient transfer of workload occurs in a hosted environment where the accounting programs, inflowing source documents, and data from CRM, POS, and ERD systems are accessible to both the internal team and the outsourced team at the same time. That’s why hosting the books and records within a secure environment is the perfect first step to bringing accounting to the next level. About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

Recently, a movie was made named The Accountant.
Now we can’t perpetuate the longstanding joke in our office that ‘nobody ever made a movie about an accountant’. The fact is that accounting is not a glamourous or adrenaline-filled job, but there are some very fulfilling and exciting opportunities in the field. I’ve experienced a few of them:

• Forensic Accounting– This is really fun. It’s like being a CSI in the accounting field. I had the opportunity to help a forensic accountant review and prepare reports of findings related to divorce cases for the court. There is something very satisfying about uncovering money that someone is trying to hide.
• Start-up CFO – If you are looking for a wild ride and aren’t averse to risk, this could be just the job for you. You will have to be really good at creating forecasts based on nothing but market research and selling your projections to someone with really deep pockets. Often, you will find that your projections were wrong, and sometimes you are pleasantly surprised by new revenue streams you hadn’t even anticipated. There’s a big payoff for success!
• Tax Coach – Tax laws are very complicated; the more money people have, the more they need advice. Some accountants are building an entire career around developing strategies for helping people pay the least amount of tax possible given their current and future financial position. There is nothing illegal about paying as little tax as possible. Developing a tax coaching practice could be the key to a very lucrative and satisfying accounting career. 

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

We are really excited about our new internal communications app SnapComms.

We just adopted their program last month and already have great things to say about it. They let us create custom templates, so we are using color, design, and keywords to indicate the purpose of the communication. We have segregated our messaging into departments – Tech, Staff Task Reminders, Client Quick Tips, and Fun Stuff (marketing and staff ).

We are excited to watch the stats develop as we roll out the various initiatives. They have a great reporting function that allows us to monitor who has seen our message and who engages with it.

We anticipate improved staff performance, less disruptive technology updates, and increased engagement by clients with add-on services that will enhance their experience and increase alternative revenue streams. About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

Easier said than done, right? Many people get stuck on the ‘what you love’ part. They simply don’t know. Let’s start with the simple fact that you probably need to generate an income since you will be spending a great deal of time doing what you love. It’s easy to say, “I love making money” or “I love being financially secure”. Now challenge yourself to fill in the blank with something you love: “I wish I could make money while _____________________.”

What is it for you? Eating food? Gardening? Making artwork? Listening to music? Playing video games? Reading? Playing with kids? Solving puzzles? Helping people? Flying? Building stuff?
It is incredible how powerful and creative our thoughts can be. Once you have manifested the idea of making money by doing what you love, you will spark an awareness of opportunities to follow your dream. You will see yourself becoming curious about how the dream may come to life, and you might find yourself doing research, gathering opinions and ideas from friends and associates, and generally developing your dream further.

Next thing you know, a problem or need will arise that you can solve – by doing what you love. Anytime you solve a problem or fulfill a need, you bring value. With the right planning and execution, value translates to money.
For me, I found during the course of my life that I was particularly good at small business stuff. I like creating businesses, learning about them, structuring them to endure, and helping others to do the same. I found that for me, the really fun part was the financial planning and analysis. It was exciting to forecast future earnings and budget expenses and create a model that was self-supporting and strong. I loved it! Fortunately for me, there are many, many people who do not like financial management – the whole idea of balancing a checkbook or reviewing a financial statement makes their eyes glaze over.

So I can help others (solve a problem and fulfill a need) by doing what I love. If you are doing what you love, you will be happy, and your creative juices will flow, which fuels your passion and makes you even more valuable. Do what you love – success is imminent. About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

Small businesses are the lifeblood of the American economy. As accountants, we see the struggle small business owners face as they build their trade or craft. They rely on support from their community, and they can give you some perks that big box stores can’t. Here are a few great reasons why shopping for small businesses is smart and fun: 

• Diversity and Creativity – Small and local shops tend to capture the local vibe or their own unique messaging when sourcing products for sale. That means their products will be different and less accessible through mainstream channels – that artistic and creative touch adds value.
• Craftsmanship – Manufacturing at the small business level tends toward higher quality and greater attention to detail. The products manufactured by local craftsmen, from screen printers to furniture makers, will be produced in smaller batches. The business owner usually performs the quality control, so you know you are getting their very best.
• Accountability – Small business owners often live in the community they serve. As such, they are motivated to provide an excellent level of service, and they are nearby in case something goes awry. Tradesmen within your community will tend to be available when bigger businesses are closed and will usually give you their cell phone in case of emergencies – now that’s service!

Put your money where your heart is and shop your local small businesses this holiday season. Celebrate our brave and clever small businesses by putting your hard-earned money back into your community – it’s a win-win! About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

One of the books I read early in my entrepreneurial journey was The Art of the Start by Guy Kawasaki. He talks about the importance of a business being founded upon an idea that ‘makes meaning’ in people’s lives.

That has always stuck with me, and ‘making meaning’ remains my goal and most fulfilling reward as an entrepreneur. My current venture, Complete Controller, was born from a client’s request for access to my level of accounting expertise for his concerns nationwide.
To solve his problem, we created a hosted accounting desktop long before the ‘cloud’ was a prolific and accepted business environment so he could access our work and interact with the books and records regardless of his location. We made meaning for him, and he brought us our first round of clients that fed our growth and development.

As I developed processes for performing the bookkeeping and reporting services remotely, I became enamored with the luxury of being paid for my work product rather than my hours. Meanwhile, I wasn’t diluting my effective hourly rate by commuting to serve my client base. This made meaning in my life as I was finally positioned to be free to serve my clients without sacrificing my presence at home with my three beautiful little girls! As the word got around that we could provide bookkeeping services at a fraction of the price of traditional methods because we were working product-centric, and more and more businesses were asking for our service. After all, that savings made meaning to them. When their tax preparers reviewed the books and needed someone to talk with about transactional structure, financial management, and ongoing maintenance, our accounting teams were accessible and knowledgeable. So, the experience was much more fulfilling than in prior years when they only had their clients to interact with about the bookkeeping and records. This really made meaning to them, and it made good sense to encourage their other clients to work with us as well. What do I love about being an entrepreneur? That through my business, I can make meaning in all of these people’s lives in a very real way. About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

The primary reason elder financial abuse is allowed to happen is the lack of transparency in our current systems and processes. Upon appointing a power of attorney or trustee, encouragement or even a requirement should be made to have an outside accounting firm either perform the bookkeeping or oversee the bookkeeping.

Furthermore, in this age of cloud technology, it is not too much to ask that the books and records be hosted on a platform where all beneficiaries and professional team members can view the financial activity. Advisors, attorneys, and accountants need to see themselves as services to the elderly client, not the trustee or beneficiaries – split loyalties can cause moral and ethical dilemmas. Those professionals should be making the recommendation for transparency right out of the shoot before any impropriety when the trustee is eager to show that their intentions are pure.

Suppose the professional is called upon to fulfill the role of trustee. In that case, there is even more reason for all to be transparent as it reduces suspicion by the family and increases accountability. In fact, it can be a positive differentiating factor for those professionals that are positioning themselves to be providers of that service. Just submitting quarterly reports is not an acceptable level of transparency today – there are better options in the marketplace for that intent upon doing the right thing – those books and records should be hosted and regularly reviewed by an outside firm! About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

In many areas of our lives, we share struggles and triumphs with others, but our financial lives remain secret. Why? I think a lot of it has to do with shame. Everyone compares their own financial fitness with the parts of their friend’s and neighbors’ financial lives that they chose to share – the good part. It’s likened to viewing someone’s FaceBook page and believing that the slew of smiling moments with groups of friends and family is a fair representation of their life. That’s not their life – that’s what they want you to see!

Talk to your kids – In our line of work, we get the inside scoop on how many households with varying degrees of wealth and income manage their affairs. One thing that is evident – wealthy families are more likely to teach their heirs about money management. If financial security and self-supporting skills are important to a family, they will talk about it. Too many kids leave home to go to college without understanding basic financial rules of thumb: What portion of your income should your rent be? When is it smart to use credit to make a purchase? How much of your income should be saved?

Talk to your friends – When you show up authentically in a relationship, you accomplish two very important things – you make yourself teachable. You allow room for the other person to be authentic. When you are young, and it’s hip to be broke, everyone is broke, but one friend gets a good job and buys a fancy car, and then you stop talking about your finances. If you knew the truth, you might find that they are more broke than you. While you are living paycheck to paycheck, they owe more than they will make for the next six months!

Talk to your spouse (and your spouse-to-be) – It is interesting how we will date someone, become physically intimate, and even meet their friends and family without ever knowing their credit score or bank balance. Then we fall in love and resent our partner for their past financial flaws. What would be so wrong with talking about those things early in the ‘getting to know you’ stage? And how many marriages that have underlying financial problems wind up in divorce? More than those that don’t – financial stress is one of the common factors found in relationships that suffer from the big three: abuse, addiction, and adultery. Developing open and frank financial conversations at the beginning of the relationship is healthy. At the point when you decide to live together, creating a household budget will foster honesty and collaboration in financial matters.

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

As consumers, we often point fingers at the banks for any mistakes or shortcomings in their services. However, it is important to remember that they are service providers just like any other profession such as plumbers or accountants. While we do expect a certain level of competence from them, it is also our responsibility to monitor and evaluate their performance from time to time. Therefore, it is crucial to pay attention to certain aspects when choosing a bank. These may include but are not limited to the quality of customer service, the range of services offered, the accessibility of the bank’s branches or ATMs, the fees and charges associated with their services, and the security measures employed to safeguard our personal information. By being vigilant and informed, we can ensure that our banking experience is smooth, satisfactory, and hassle-free.

Transparency – The bank’s online capabilities should be up to snuff. You should be able to log in to your online profile and see all accounts under your social or tax ID number at that bank and all activity on each of those accounts. Your transactions should be showing up within a day of creation. This is important because you will not remember when you bought a candle yesterday at the end of the month. To be efficient and smart about monitoring your banking, you should be able to look at it every day. Some banks will even send you texts to alert you when a transaction hits your account!

Accountability – Statements should drop quickly after the end of each monthly period. It should not take weeks to produce a bank statement for your accounts. When you get your statement, look at it. Just take a quick little look to see if everything meets with your approval. After a plumber fixes your faucet, you will probably try out the faucet to see if it works right. Reviewing your bank statements is the same thing – make sure they did their job.

Respect – Okay, this one is mutual. Your bank is a business that makes money off of your money. Banking is a sophisticated industry, but the basic premise is that they use your money on deposit as leverage for other investments that earn them lots of revenue in the form of interest. Every time someone borrows money from them – whether it is by using a bank credit card, taking out a mortgage or car loan, or over-drafting an account – the bank makes money. If you overdraft your account, you are borrowing money from the bank without their permission. If you do it often or they don’t know you, they won’t want to give you instant credit for your deposits because you are at high risk. Don’t be upset with your bank because they charged you for it – would you trust someone who borrowed money from you without your permission?

Affordability – Since banks are making money on lending, beware of those that are charging you account fees. Usually, the bank will have an account that is the right fit for you based on your activity and average balance. If you have a high average balance, then you can usually manage a lot of transactions through the bank for free because you have provided the bank with enough funds on deposit to increase their ability to make more loans. If you don’t have a lot of money on deposit, then you haven’t given them anyway to make money, and since the bank has to pay its tellers and maintain the technology that processes all of your transactions, they will pass that cost along to you. Select an account that works best for you, and then keep an eye out for those bank fees – some banks will slip them in when you aren’t looking.

You are your own best defense against bad banking – be aware and be safe.

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.