The Vital Role of External Audits for Business Success

The importance of external audits extends far beyond regulatory compliance—external audits serve as independent financial health assessments that boost business credibility, uncover operational inefficiencies, and provide the transparency necessary for securing investment and building stakeholder trust. These third-party evaluations validate your financial statements, strengthen internal controls, and position your business for sustainable growth in an increasingly complex regulatory environment.

As someone who has guided hundreds of small and medium businesses through financial challenges over the past two decades, I’ve witnessed firsthand how external audits can transform a company’s trajectory. What many business owners don’t realize is that organizations with external audit programs experience 52% smaller fraud losses and catch fraud twice as fast as those without audits. This article will show you exactly why external audits matter and how to leverage them strategically for your business success.

What are external audits, and why are they critical for business success?

• External audits are independent assessments of financial statements and internal controls conducted by certified third-party auditors
• They verify the accuracy of financial reporting, ensure regulatory compliance, and identify potential fraud or operational weaknesses
• Regular external audits build credibility with investors, lenders, and stakeholders through transparent financial reporting
• These audits help businesses identify inefficiencies and risk areas that internal teams might overlook
• External audits provide the financial transparency necessary for business growth, funding opportunities, and competitive advantage

Understanding External Audits and Their Strategic Value

External audits represent far more than a compliance checkbox—they function as comprehensive business health assessments that can unlock significant strategic advantages. Unlike internal reviews conducted by your own team, external audits bring an independent, objective perspective that stakeholders trust implicitly. This independence eliminates potential bias and provides the credibility that investors, lenders, and business partners demand when evaluating your organization’s financial health.

The strategic value of external audits extends beyond simple financial verification. These assessments serve as powerful business intelligence tools that can reveal operational inefficiencies, highlight areas for cost reduction, and identify growth opportunities that might otherwise remain hidden. When conducted regularly, external audits create a documented track record of financial integrity that becomes invaluable during merger and acquisition discussions, loan applications, or investment rounds.

The foundation of financial credibility

External audits establish the foundation of financial credibility by providing independent verification of your financial statements. This credibility becomes particularly valuable when your business reaches inflection points—whether you’re seeking venture capital, applying for significant loans, or considering strategic partnerships. The audit opinion letter serves as a third-party endorsement of your financial practices, often carrying more weight than internal financial reports in stakeholder decision-making processes.

Professional investors across 16 countries consistently view financial accounting information as a key input factor to their decision-making, with this assessment being even more pronounced when investors are evaluating management performance. External audits provide the assurance these investors need to move forward with confidence.

Beyond compliance: Strategic business intelligence

Modern external audits go far beyond basic compliance requirements to deliver actionable business intelligence. Auditors analyze your financial patterns, operational workflows, and control systems to identify trends and anomalies that your internal team might miss. This analysis often uncovers opportunities for process improvements, cost savings, and efficiency gains that can significantly impact your bottom line.

Following the implementation of the Sarbanes-Oxley Act in 2002, financial statement restatements initially rose 66% in 2005 to 1,600 cases and peaked at 1,784 in 2006. However, restatements then steadily declined to 711 by 2009, demonstrating how enhanced audit requirements improved financial reporting quality over time.

How External Audits Drive Business Growth and Investment Opportunities

External audits serve as powerful growth catalysts by providing the financial transparency and credibility that fuel business expansion. When your financial statements carry an independent auditor’s seal of approval, doors open to funding opportunities that might otherwise remain closed. Investors and lenders view audited financial statements as reliable indicators of business health, significantly increasing your chances of securing the capital needed for growth initiatives.

The relationship between external audits and business growth becomes particularly evident in competitive funding environments. Businesses with audited financial statements demonstrate management competence and financial discipline that resonates with sophisticated investors. This advantage stems from the reduced risk perception that audited statements create—lenders and investors can make decisions with greater confidence when independent professionals have verified your financial position.

Case study: Manufacturing company secures growth capital

A mid-sized manufacturing company struggled to secure expansion financing despite strong revenue growth. After implementing annual external audits, the company successfully obtained a $2.5 million credit facility within six months. The audit revealed strong internal controls and accurate financial reporting, which convinced lenders of the company’s creditworthiness and management competence. This demonstrates how external audits can directly translate into tangible business opportunities.

Unlocking merger and acquisition opportunities

External audits become critical assets during merger and acquisition processes. Potential buyers or merger partners require audited financial statements to conduct proper due diligence. Companies with a history of clean audit opinions command higher valuations and experience smoother transaction processes because buyers can rely on independently verified financial information rather than conducting extensive verification procedures.

The Risk Management and Fraud Prevention Power of External Audits

External audits function as sophisticated risk management tools that protect businesses from financial fraud, operational vulnerabilities, and compliance failures. Professional auditors bring specialized expertise in identifying red flags and control weaknesses that internal teams might overlook due to familiarity bias or resource constraints. This external perspective proves invaluable in detecting emerging risks before they develop into significant problems.

Organizations that included external audits as part of their anti-fraud programs had losses that were 52% smaller and caught fraud twice as fast as organizations that did not undergo audits. External audits were present in 84% of anti-fraud programs, making them the second most common control after codes of conduct.

Advanced risk assessment techniques

Modern external auditors employ sophisticated risk assessment methodologies that go beyond traditional sampling approaches. They utilize data analytics, trend analysis, and industry benchmarking to identify unusual patterns or anomalies that might indicate fraud or operational inefficiencies. These techniques often reveal risks that internal teams miss due to their proximity to daily operations.

Businesses globally lose an estimated 5% of their annual revenues to fraud each year, amounting to more than $3.5 trillion in potential global losses. While external auditors only detect fraud in 3-4% of cases—primarily because audits focus on financial statement accuracy rather than fraud detection—their presence significantly deters fraudulent behavior.

Internal control evaluation and strengthening

External audits provide comprehensive evaluations of internal control systems, identifying weaknesses and recommending improvements. This process helps businesses strengthen their operational frameworks, reduce error rates, and improve overall efficiency. The recommendations from external auditors often lead to process improvements that generate cost savings exceeding the audit fees.

Types of External Audits and Choosing the Right Approach

Understanding the different types of external audits available helps businesses select the most appropriate approach for their specific needs and industry requirements. Financial statement audits represent the most common type, focusing on the accuracy and completeness of financial reporting. However, specialized audits such as compliance audits, operational audits, and information systems audits can provide targeted insights for specific business challenges.

A study by KPMG revealed that external auditors detected 16% of fraud cases, while internal auditors identified 14%. The median loss per fraud case is $117,000, with 21% of cases resulting in losses exceeding $1 million. These statistics underscore the importance of selecting the right audit approach for your specific risk profile.

Financial statement audits for growth-oriented businesses

Financial statement audits provide comprehensive reviews of balance sheets, income statements, cash flow statements, and statements of equity. These audits verify that financial statements present a fair and accurate picture of the company’s financial position according to generally accepted accounting principles. For growth-oriented businesses, clean financial statement audit opinions become essential for accessing capital markets and attracting investors.

Specialized audit services for industry-specific needs

Certain industries require specialized audit approaches that address unique risks and regulatory requirements. Healthcare organizations might need HIPAA compliance audits, while government contractors require audits that verify compliance with federal acquisition regulations. Technology companies often benefit from SOC 2 audits that assess the security and availability of their systems and processes.

The External Audit Process: What Business Owners Need to Know

The external audit process follows a structured approach designed to maximize efficiency while ensuring thorough coverage of critical business areas. Understanding this process helps business owners prepare effectively and derive maximum value from their audit investment. The process typically begins with planning and risk assessment, where auditors gain an understanding of the business, its industry, and potential risk factors that could affect financial reporting.

Effective audit preparation can significantly reduce costs and improve outcomes. Business owners who invest time in organizing financial records, documenting processes, and preparing supporting materials often experience smoother audit processes and more valuable recommendations. This preparation also demonstrates to auditors that management takes financial reporting seriously, which can positively influence the audit opinion.

Planning and preparation phase

The planning phase involves extensive communication between auditors and management to establish audit scope, timing, and objectives. Auditors assess internal controls, identify significant risks, and develop testing strategies tailored to the organization’s specific circumstances. This phase also includes determining materiality levels and establishing communication protocols for the engagement.

Key preparation steps include:

• Organizing financial records and supporting documentation
• Documenting accounting policies and procedures
• Preparing account reconciliations
• Reviewing significant transactions and estimates
• Identifying areas of judgment or complexity

Fieldwork and testing procedures

During fieldwork, auditors execute their testing procedures, which may include transaction testing, analytical reviews, and substantive procedures. They examine supporting documentation, perform physical inventory observations, and interview key personnel. This phase requires significant cooperation from the organization to provide requested information and explanations promptly.

Reporting and follow-up activities

The reporting phase culminates in the issuance of the audit opinion letter, which communicates the auditor’s findings and conclusions. This letter becomes a valuable asset for the organization in its dealings with stakeholders. Follow-up activities may include management letter responses and implementation of recommended improvements to internal controls and processes.

Conclusion

External audits have transformed from compliance necessities into strategic business assets that drive growth, build credibility, and protect organizational interests. Throughout my experience helping businesses navigate financial challenges, I’ve consistently observed that companies embracing external audits as strategic tools rather than compliance burdens achieve superior results. The investment in professional external audits pays dividends through enhanced stakeholder confidence, improved access to capital, and operational insights that fuel sustainable growth.

The future belongs to businesses that prioritize financial transparency and operational excellence. External audits provide the independent validation and continuous improvement framework necessary to thrive in increasingly competitive markets. For business owners ready to elevate their financial management and unlock new growth opportunities, partnering with experienced audit professionals represents one of the most impactful investments you can make. Visit Complete Controller to learn how our team can help you leverage external audits for maximum business success.

Frequently Asked Questions About the Importance of External Audits

What is the main purpose of an external audit?

The main purpose of an external audit is to provide independent verification of financial statements and internal controls, ensuring accuracy, compliance, and transparency for stakeholders while identifying areas for operational improvement.

How often should small businesses conduct external audits?

Small businesses should typically conduct external audits annually, though the frequency may depend on industry requirements, stakeholder demands, loan covenants, or internal risk management needs.

What’s the difference between internal and external audits?

Internal audits are conducted by company employees to improve operations and controls, while external audits are performed by independent third-party professionals to provide objective verification of financial statements and compliance.

How much do external audits cost for small businesses?

External audit costs vary based on company size, complexity, and industry, typically ranging from $5,000 to $25,000 for small businesses, with the investment often generating returns through improved credibility and operational insights.

Can external audits help prevent fraud?

Yes, external audits help prevent fraud through independent review of transactions and controls. Studies show that organizations with regular external audits experience 52% smaller fraud losses than those without external oversight.

Sources

• ACFE (Association of Certified Fraud Examiners). “ACFE Estimates Organizations Lose 5 percent to Fraud.” 2012. www.acfe.com/about-the-acfe/newsroom-for-media/press-releases/press-release-detail?s=ACFE-Estimates-Organizations-Lose-5-percent-to-Fraud
• AuditBoard. “The Sarbanes-Oxley Act: A Comprehensive Overview.” 2024. auditboard.com/blog/sarbanes-oxley-act
• Caseware. “Internal vs. External Auditing: What’s the Difference?” 27 July 2023. www.caseware.com/us/resources/blog/internal-vs-external-auditing
• Caseware. “The Role of Auditors in Uncovering Fraud: A Forensic Perspective.” 2024. www.caseware.com/au/resources/blog/the-role-of-auditors-in-uncovering-fraud-a-forensic-perspective
• Centri. “External Accounting Audit Preparation Checklist.” 12 Dec 2022. centriconsulting.com/news/blog/audit-preparation-checklist
• Concur. “Understanding the Purpose and Benefits of External Audits.” 12 June 2024. www.concur.com/blog/article/understanding-purpose-and-benefits-external-audits
• EFRAG. “Professional Investors and the Decision Usefulness of Financial Reporting.” www.efrag.org/sites/default/files/sites/webpublishing/SiteAssets/Professional%20investors%20and%20the%20decision%20usefulness%20of%20financial%20reporting.pdf
• Haines Watts Group. “How an External Audit Benefits Your Business.” 18 Oct 2024. www.hwca.com/accountants-liverpool/opinion/how-an-external-audit-benefits-your-business
• Indeed Career Guide. “What Is External Auditing? (With Benefits and Qualities).” 9 June 2025. ca.indeed.com/career-advice/career-development/external-auditing
• RJL Accounting & Tax. “The Impact of External Audits on Financial Transparency.” 25 Mar 2025. rjlaccountingtax.com/blog/the-impact-of-external-audits-on-financial-transparency
• The Center for Audit Quality. “Fighting Fraud: A Shared Responsibility.” 2024. www.thecaq.org/aia-fighting-fraud-a-shared-responsibility
• ZenGRC. “5 Tips To Prepare For Your External Audit.” 5 Sept 2024. www.zengrc.com/blog/5-tips-to-prepare-for-your-external-audit
• Accounting and Business Consultants, LLC. “Audit Case Studies.” www.abcpas.com/case-studies.htm
• Investopedia. “Audit Definition.” www.investopedia.com/terms/a/audit.asp
• Wikipedia. “Audit.” en.wikipedia.org/wiki/Audit

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. Reviewed By: Brittany McMillen

Brittany McMillen

Brittany McMillen is a seasoned Marketing Manager with a sharp eye for strategy and storytelling. With a background in digital marketing, brand development, and customer engagement, she brings a results-driven mindset to every project. Brittany specializes in crafting compelling content and optimizing user experiences that convert. When she’s not reviewing content, she’s exploring the latest marketing trends or championing small business success.

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The gearing ratio measures the proportion of funds borrowed by a company to equity. It is calculated as the total loan (liabilities of the long and short-term included in this loan) divided by the total equity of the shareholder. This is an important term used in bookkeeping. A specific formula is used to calculate the gearing ratio in bookkeeping.

It is the amount of equity needed to pay outstanding debts. Low gearing is the best option for SMEs because a company with a 10% gearing ratio would pay off debts more quickly. Investors also consider it a low-risk company, while companies with a high gearing ratio of around 50% or above are considered a greater risk because they could be defaulters or bankrupts if profits decline for short periods or rates of interest increase.

The gearing ratio is one of the most common tools used to evaluate a company’s financial fitness. 

The formula to calculate the gearing ratio in bookkeeping is as follows:

Gearing ratio formula = Debt / (Debt + Equity)

Types of Gearing

• Financial gearing
• Operational gearing

 

1. Financial gearing

Financial gearing includes using debt to fund a business.

Financial gearing increases risk, though returns are raised. Debt is a risk for the business. It is a relationship between loan and equity, i.e., how a business is funded.

2. Operational gearing

This term is less commonly used. It refers to the relationship between a business’s fixed costs and variable costs.

Disadvantages of Higher Gearing Ratio

A higher gearing ratio suggests a great deal of leverage when an SME consumes debt to pay for its ongoing operations. In a trade recession, such SMEs may face distress while meeting schedules of their debt and are at risk of bankruptcy. The condition is precarious when a firm involves debt engagement interest rates with variables because a sudden rise in rates could lead to severe problems in the payment schedule.

A regulated industry such as utilities is not as affected by this. They have a monopoly in business, and regulatory authorities will increase the rate to cover the gap and ensure their continued survival. Possible requirements by financiers to lessen this problematic situation are restricting agreements that disallow the payment of shares, enforcing extra cash flow into debt repayment, constraining substitute cash usage, and requiring shareholders to place additional equity into the firm’s debt repayment.

Creditors have a similar concern but are commonly incapable of enforcing alterations in the firm’s conduct. SMEs that require large, fixed assets have a higher gearing ratio. A company with a low gearing ratio may be managing its finances with a conservative approach.

However, it may indicate that a company is engaged in extremely cyclical diligence and can’t afford to become overextended in the face of an unavoidable downturn in trades and revenues.

Methods to Reduce Gearing Ratio

In bookkeeping, the value of the gearing ratio of a company can be reduced by the following methods:

• Trade shares. If an SME can obtain permission to sell shares from its board of directors, the revenue received could be used to pay loans.
• Convert debt. These debts could be converted into shares after negotiating with lenders.
• Decrease working capital. Two ways to decrease the working capital are reduced inventory levels and escalating the speed at which receivable accounts are collected. The second is to increase the duration in which accounts payable must pay and lengthen the days required to pay. These methods produce cash, which is used to pay off debts.
• Escalation of profits. Practice all known methods to increase revenues so that more cash is generated, which could be used to pay off loans.

Conclusion

SMEs should maintain a low gearing ratio as it shows that the company is financially stable. This will result in attracting a large number of potential investors or lenders.

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.

How Small Businesses Can Strategically Increase Sales: A Detailed Guide

In today’s fast-paced business world, small businesses face the monumental task of competing with larger enterprises. However, their agility and personalized approach give them an edge. Implementing innovative and effective sales strategies can significantly propel their growth. This article delves into practical strategies for boosting sales and highlights successful small business facts that inspire.

Understanding Your Unique Value Proposition

The starting point for any small business looking to increase sales is to clearly define its Unique Value Proposition (UVP). What makes your product or service stand out? Maybe it’s the bespoke customer service, the artisanal quality of your products, or perhaps an innovative solution no one else offers. Your UVP is your banner in the crowded marketplaces, helping to attract and retain customers.

Leveraging Social Media

Social media isn’t just a place for memes and pet videos; it’s a powerful tool for businesses to increase visibility and sales. Platforms like Instagram, Facebook, and Twitter allow businesses to connect with their audience on a personal level. For example, fashion retailer Zara has mastered the art of social media marketing, using its platforms to showcase new arrivals and engage directly with customers. By consistently sharing and interacting with your followers, you’ll create a loyal customer base who are more likely to make purchases.

Fostering Customer Relationships

Word-of-mouth is a powerful tool, especially for small businesses. Building strong, genuine relationships with your customers can lead to repeat business and referrals. Providing exceptional customer service, personalizing interactions, and showing appreciation through small gestures like thank-you notes can make a significant impact. A happy customer isn’t just someone who comes back for more but also someone who cheers for your business.

Diversifying Your Offerings

Diversity in your product or service offerings can open up new revenue streams and attract a broader customer base. Consider the success story of Starbucks. They started by selling high-quality coffee beans and coffee-making equipment. Today, they’ve expanded their offerings to include a wide variety of beverages, food items, and even merchandise. This strategy of diversification helps mitigate risk and capitalize on new market opportunities.

Optimizing Your Online Presence

The internet is the primary platform for potential customers to learn about your business. A top-notch, professionally designed website can significantly influence the perception of your business. It’s essential to guarantee that your site is mobile-friendly, easy to navigate, and search engine optimized (SEO) to maximize visibility and, ultimately, drive sales. Keep in mind your website is your digital storefront, so let’s make it count!

Implementing Targeted Promotions

Comprehending your customer base empowers you to customize promotions and offers for specific segments. For example, a pet supply store can confidently offer a discount on dog food to customers known to have dogs. These targeted promotions not only drive sales but also significantly enhance customer satisfaction by providing relevant and enticing offers.

Educating Your Customers

Especially in industries where products or services are complex, education can be a powerful sales tool. Providing valuable information through blogs, tutorials, or webinars can help demystify your offerings and position your business as an authority in the field. This approach fosters trust and can significantly influence purchasing decisions.

Embracing Analytics

Data is an invaluable asset in understanding what works and what doesn’t in your sales strategy. Utilizing tools to track website traffic, conversion rates, and customer behavior patterns can provide insights necessary to fine-tune your approach. For instance, if you notice a high cart abandonment rate on your e-commerce site, it might be time to streamline the checkout process.

Successful Small Business Facts That Inspire

• The power of small

According to the Small Business Administration (SBA), small businesses make up 99.9% of all U.S. businesses. This statistic underscores the significant impact small businesses have on the economy.

• Survival rates

Contrary to the common belief that most small businesses fail within the first year, about 80% survive their first year, and about half survive for at least five years. This fact highlights the resilience and potential for growth small businesses possess.

• Job creation

Small businesses are a major source of employment, creating 1.5 million jobs annually and accounting for 64% of new jobs created in the U.S.

• Innovation leadership

Small businesses play a crucial role in innovation, producing 16 times more patents per employee compared to large patenting firms. This innovation drives industry change and contributes to economic growth.

Conclusion

Increasing sales in a small business involves a multifaceted approach, from understanding your unique value proposition to leveraging the power of social media and analytics. The success stories and facts shared here serve as a testament to the potential of small businesses to thrive and scale. By implementing these strategies with dedication and agility, small businesses can not only increase their sales but also carve out a significant space for themselves in the market landscape. Remember, every big business started small; your growth journey is just a strategy away.

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.

Self-storage units, often overlooked by small business owners as a mere extra space for personal belongings, have emerged as a cornerstone in the quest for agility and efficiency in the business landscape. These awesome spaces offer a range of benefits designed to cater to the ever-changing needs of small businesses, from retail startups to budding online ventures.

In this article, we’ll explore the multifaceted advantages of self-storage units for small businesses, supported by compelling facts and statistics, shedding light on why these unassuming spaces might be the growth catalyst your business needs.

Why Self-Storage for Small Businesses?

In an era where business agility is not just an advantage but a necessity, self-storage units present themselves as an optimal solution for various logistical and operational challenges faced by small businesses. Utilizing self-storage spaces can lead to cost reduction, enhanced efficiency, and, ultimately, significant business growth.

Cost-effectiveness

Renting commercial or retail space comes with a hefty price tag, not to mention the long-term lease agreements that can tie down a growing business. In stark contrast, self-storage units offer flexible lease terms and a variety of sizes to suit your precise needs. According to a report by Mordor Intelligence, the global self-storage market was valued at $48.02 billion in 2020 and is expected to reach $64.71 billion by 2026. This growth underscores the cost-effective nature of self-storage solutions, making them an increasingly popular choice among cost-conscious business owners.

Scalability

One of the most compelling advantages of self-storage for small businesses is scalability. To effectively address the needs of business expansion and seasonal variations, it is essential to possess the capacity to adjust inventory storage without the complexities associated with relocation or lease renegotiation. Self-storage facilities provide a diverse range of unit sizes and flexible terms, thereby empowering businesses to readily modify their storage space according to their immediate requirements.

Enhanced security

The importance of security in business operations cannot be overstated, especially for enterprises that hold valuable inventory or sensitive documents. Modern self-storage facilities are equipped with state-of-the-art security features, including 24-hour surveillance, secure access points, and sometimes even climate-controlled units to protect delicate items. This level of security gives small business owners peace of mind, knowing their assets are well-protected around the clock.

Convenience and accessibility

Small businesses, particularly those operating in e-commerce, require continuous access to their inventory. Many self-storage facilities offer 24/7 access, ensuring that business owners can retrieve or store items according to their schedule, a critical component in maintaining customer satisfaction and operational efficiency. Additionally, these facilities are often strategically located, providing easy access and reducing transportation time and costs.

Decluttering and organization

A cluttered workspace can significantly hinder productivity and, by extension, profitability. Utilizing a self-storage unit allows small businesses to store seasonal equipment, excess inventory, and rarely-used documents offsite, leading to a more organized and efficient work environment. This not only optimizes operational space but also contributes to a more professional business appearance, which is crucial for attracting and retaining customers.

Enhanced focus

Perhaps one of the most overlooked benefits of self-storage for small businesses is the mental clarity it offers. By outsourcing storage needs, business owners can focus more on core activities and growth strategies rather than getting bogged down by logistical concerns. This cognitive unloading can lead to more innovative ideas and growth strategies, propelling the business forward.

Facts and Statistics Supporting the Use of Self-Storage

• Cost savings

According to the Self Storage Association, utilizing self-storage can significantly lower overhead costs compared to leasing additional commercial space. Small businesses can save up to 30-50% by opting for self-storage solutions.

• Increasing demand

The demand for self-storage has seen a steady increase, with occupancy rates across the U.S. averaging 92.5%, according to a study by the Self Storage Association. The increasing demand indicates that self-storage is being more widely recognized as a crucial business resource.

• Diverse users

A survey by the Self Storage Association revealed that approximately 25% of self-storage units are rented by businesses, underscoring their value to the commercial sector.

Conclusion

In conclusion, self-storage units offer a flexible, economical, and secure solution for small businesses seeking to streamline their operations. From retail startups to e-commerce giants, the benefits of self-storage extend far beyond mere storage space, offering businesses the agility, efficiency, and focus needed to thrive in today’s competitive market. With the backing of compelling statistics and undeniable advantages, it’s clear that self-storage units are more than just a place to store your excess stock—they’re a strategic partner in the path to business success. 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. Reviewed By: Brittany McMillen

Brittany McMillen

Brittany McMillen is a seasoned Marketing Manager with a sharp eye for strategy and storytelling. With a background in digital marketing, brand development, and customer engagement, she brings a results-driven mindset to every project. Brittany specializes in crafting compelling content and optimizing user experiences that convert. When she’s not reviewing content, she’s exploring the latest marketing trends or championing small business success.

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In the bustling hub of small businesses and startups, understanding and optimizing conversion rates is paramount. This analytical approach not only gauges the efficacy of marketing strategies but is also an integral marker of business vitality in a digitized marketplace. Let’s unravel this essential metric, explore its significance in small businesses, and delve into what constitutes a good conversion rate supplemented by pertinent statistics to paint the full picture.

What is a Conversion Rate?

The conversion rate is a powerful metric that definitively measures the percentage of website visitors or platform users who take a specific action out of the total number of visitors. This action could be making a purchase, signing up for a newsletter, downloading a guide, or any other behavior that aligns with the business’s objectives. Essentially, it’s an indicator of how effectively a business is convincing its audience to take the next step in the customer journey.

The Importance of Conversion Rates in Small Businesses

For small businesses, every interaction counts, and understanding conversion rates can be the compass that guides their digital marketing efforts. It provides insights into the effectiveness of their online presence – whether it’s their website, social media, or email campaigns.

Resource allocation

Knowing what drives conversions helps businesses allocate their budgets more efficiently. Rather than spreading resources thinly across various channels, conversion data enables targeted investment in high-performing strategies.

Customer insights

Analyzing the actions that lead to conversions uncovers valuable information about customer preferences and behavior. This insight enables the implementation of more personalized and effective marketing strategies.

Performance benchmarking

Conversion rates offer a quantitative measure to benchmark and track performance over time. They help set realistic goals and evaluate the impact of changes or optimizations to marketing tactics.

What Constitutes a Good Conversion Rate?

While conversion rates can vary widely by industry, product type, and target market, a “good” conversion rate is generally one that exceeds industry averages and shows an upward trend over time. Statistically speaking, the average landing page conversion rate across industries hovers around 2.35%, yet the top 25% are converting at 5.31% or higher. Specifically in e-commerce, a sector with considerable overlap with small businesses, average conversion rates range from 1% to 2%.

However, striving for continual improvement rather than settling for average is key. Incremental increases in conversion rates can significantly impact a small business’s bottom line. For instance, increasing a conversion rate from 1% to 2% effectively doubles sales or leads without increasing traffic, which can be a game-changer for small enterprises operating on limited budgets.

Strategies to Improve Conversion Rates

Improving conversion rates is an ongoing process of testing, learning, and optimizing. Here are some strategies proven to enhance conversion rates:

Optimize website design

Ensure your website is user-friendly, with clear calls-to-action (CTAs) and an intuitive layout. In the current digital landscape, mobile optimization is paramount due to the substantial shift in web traffic originating from smartphones. A comprehensive mobile optimization strategy is essential to accommodate the diverse range of devices and screen sizes, ensuring an optimal user experience and maximizing engagement with your website.

Enhance landing page experience

Tailoring landing pages to specific audiences or campaigns significantly improves conversion rates. This includes relevant content, engaging visuals, and a seamless path to conversion.

Personalization

Using data to personalize the user experience can dramatically lift conversion rates. Personalization strategies include targeted messages, product recommendations, and customized emails.

A/B testing

Regularly testing different aspects of your website and marketing materials can provide insights into what resonates best with your audience. Even small changes can lead to meaningful improvements in conversion rates.

Trust signals

Incorporating reviews, testimonials, and security badges can build trust with prospective customers, encouraging them to convert.

Business Statistics

• Businesses that regularly conduct A/B testing see 50% higher conversion rates than those that don’t.
• Personalized CTA buttons can increase conversion rates by up to 202% compared to generic CTAs.
• Email marketing remains a potent tool, with an average ROI of $42 for every $1 spent, highlighting the importance of converting visitors into subscribers.
• Small businesses that leverage customer testimonials on their websites have seen up to a 34% increase in conversion rates.

Summary

In conclusion, understanding and optimizing conversion rates is not just about numbers; it’s about creating meaningful engagement with your audience, refining your marketing strategies, and ultimately growing your business. Small businesses stand to gain significantly from a thorough analysis of conversion rates to make informed decisions that optimize their marketing strategies and ROI. The process of enhancing conversion rates is continuous, but the benefits in terms of customer loyalty, brand power, and financial gains undoubtedly justify the effort. 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.

Ensuring top-notch performance is absolutely essential for every business! It’s not just about measuring how well the business is doing but also about recognizing the outstanding contributions of your amazing employees. By implementing effective methods for checks and balances, you can gain valuable insights into whether your team is meeting and even surpassing expectations. With so many methods available, it’s exciting to discover the perfect one that suits your unique work environment, business type, and other important factors. Let’s unlock your business’s full potential together!

The data obtained from these methods undeniably influences employee compensation packages, employment status, career advancements, and roles within the organization. This underscores the critical need for performance management approaches that facilitate precise and equitable evaluations of employee performance. To gauge business performance effectively, it is imperative to implement a standardized performance measuring system across the organization. Performance standards tangibly quantify the anticipated results for employees to meet the company’s expectations.

While each business may employ its unique methods to measure performance, the procedures outlined below can be universally applied to businesses based on their individual requirements.

Methods to Measure Business Performance

Graphics rating scales

Graphic rating scales are highly effective for manufacturing-oriented businesses and other workplaces dealing with high-volume products, especially in the food and beverage industry. Each trait is meticulously rated on a scale of 1 to 5, allowing for precise evaluation of employee performance. This approach offers a comprehensive and efficient assessment of an employee’s capabilities and productivity with utmost ease. This method requires nothing but planning and a little bit of effort, and the results are satisfactory. This is also time-efficient, which allows you to measure business performance in no time. It can be applied to a wide set of people with consistent results and little ambiguity. No matter what size of business you are in, you can apply this method and acquire first-hand data quickly, which can be further used to make vital business decisions.

Management by objective (MOB)

Management by objectives is a robust method used to evaluate the performance of senior employees, managers, and supervisors. All goals are meticulously identified, listed, and supported with the necessary resources for achievement. These goals are time-bound, requiring completion within specific timelines. Employees are extensively assessed based on their ability to meet these goals within the given time. The flexibility to adjust or update goals based on market conditions and other variables ensures adaptability. When goals are too ambitious and require rescheduling, they are carefully discussed and restructured.

Implementing management by objectives guarantees that managers and supervisors clearly understand their goals, enabling them to perform accordingly. This method also facilitates the efficient identification of individuals who are unable to meet the set objectives. While this approach is a robust measure for evaluating employee performance, it demands patience for yielding results, given its thorough nature.

Forced ranking

General Electric successfully implemented forced ranking, although its popularity has waned over time. Despite this, the method remains effective for certain types of businesses. Forced ranking categorizes employees as top performers, average performers, or low performers, with approximately 20% being top performers, 70% falling into the average category, and 10% being the weakest performers.

This method measures employee achievements relative to their peers rather than their past performances or KPIs, creating a competitive work environment that suits certain organizations. However, it may not be suitable for others. Therefore, the forced ranking should only be used after thoroughly analyzing your business needs and requirements.

Summary

As a small business owner, the utilization of business performance reporting cannot be overstated. It is an invaluable tool that provides a clear picture of your business, allowing for data-driven decisions that can lead to sustainable growth and competitive advantage. By effectively measuring and understanding your team’s performance, you’re not only recognizing your employees’ hard work and contributions but also identifying areas for improvement and optimizing processes accordingly. In essence, business performance reporting is crucial for ensuring that your small business not only meets expectations but also has the potential to exceed them, thereby unlocking new opportunities for success in an ever-evolving marketplace. 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.

There are quite a few ways you can note and record your business performance using available data. Using financial ratios, you can quickly assess all areas where your business performance is excelling or underachieving. By evaluating your weaker areas, you’ll know where to improve and where to celebrate your progress. This process will guide you toward continued success.

The other motive for using financial ratios in your business is to see and decide just how beneficial or disadvantageous it will be in one area. You can easily measure the effects of the changes elsewhere in another room.

Monitoring figures closely in your business will help you minimize waste and maximize efficiency, which will, in turn, grow and flourish your business over time.

Where do you get the information to calculate your financial ratios? Bookkeeping helps you provide all the necessary and relevant information from which all your accounts are formulated. The process of bookkeeping is a well-recognized and clearly defined procedure in the fields of business and accounting.

Every transaction, whatever nature (purchase or sale) may be, must be recorded. The process of bookkeeping helps ensure accurate and timely records.

4 Ways to Assess Your Business Performance Using Financial Ratios

Current ratio

The most regular and familiar ratio used is the current ratio. This ratio calculates the ratio of existing assets to the ratio of current liabilities. It helps specify a company’s potential and capacity to pay off its short-term invoices and bills.

If the business has more liabilities than its assets, the current ratio will be less than one. If the company has more help than its liabilities, the current balance will be more than one.

If a business’s current ratio is high, it indicates they have a safety cushion. If the company has more assets than liabilities, its flexibility will increase. If the business has more disadvantages than its assets, it might have to convert its receivable balances and some inventory items into cash, which you may not quickly do.

The business can pay off its debts, collect its due receivables, purchase inventory only when required, and convert its short-term obligations into long-term debts.

Liquidity ratio

You can find liquidity ratios of three types:

1. Current ratio: Calculated when the sum of all the company’s current assets gets divided by their total current liabilities. This ratio measures if you have sufficient assets to pay for your liabilities. If your current ratio is calculated to be two, it means that you have twice as many current assets as your current liabilities.
2. Quick or acid-test ratio: This ratio is calculated by dividing current assets (not including stock) by total current liabilities. If your quick or acid-test ratio shows a result of one, it means your business’s liquidity levels are sufficiently high, which indicates solid financial health.
3. Defensive interval: This ratio is calculated by dividing the total liquid assets by daily operating expenses. The balance will give an estimated idea of how long you can survive your business without any cash flowing in. Usually, you can find it to be somewhere between 30 to 90 days.
4. Solvency ratio: Solvency ratios measure financial stability by calculating a business’s debt in respect to its equity and assets. Any company found to have too much debt might not have enough flexibility to manage its cash flows if interest rates rise or if business conditions start to deteriorate.

The common solvency ratios calculated are debt-to-asset and debt-to-equity. The debt-to-asset balance is found by dividing total debt by total assets. The debt-to-equity ratio can be figured by dividing total debt by total shareholders’ equity. Shareholders’ equity is found by calculating the difference between all total assets and all total liabilities.

Profitability ratio

Profitability ratios calculate the management’s ability to change the amount of sales dollars earned to cash flow and profits. The net profit ratio is a great way to see how profitable your business is. Divide the total profit before tax by the number of net sales to find out your net profit.

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 our increasingly digital world, where financial transactions are more often performed with the click of a button rather than the exchange of physical cash, the importance of protecting personal financial information cannot be overstated. With instances of cyber theft and financial fraud on the rise, securing personal finance data has become as crucial as locking one’s doors at night. This piece is dedicated to understanding why safeguarding financial information is pivotal and how secure accounts pave the way toward this safety net, supplemented by compelling facts and statistics that underline the urgency of the matter.

Why Protecting Your Financial Information is Critical

At its core, personal financial information encompasses everything from bank account numbers to credit card details and social security numbers. When such sensitive data falls into the wrong hands, the consequences can range from unauthorized transactions and drained bank accounts to the more severe, long-term repercussions of identity theft. The Federal Trade Commission’s report reveals a significant increase in identity theft, with over 1.4 million reported cases in the United States in 2020, almost double the number from the previous year.

The digital era, for all its conveniences, has also opened new avenues for cybercriminals. Phishing attacks—where fraudsters masquerade as legitimate institutions to deceive individuals into providing sensitive information—saw a significant uptick, with the Anti-Phishing Working Group reporting over 200,000 attacks in a single quarter of 2020, marking the highest level since 2016.

The Role of Secure Accounts in Safeguarding Financial Information

Secure accounts stand as the first line of defense in protecting your financial data. In essence, a secure account is any financial account that employs robust security measures to ensure that only authorized users can access it. This includes your bank accounts, credit card accounts, investment accounts, and more. The security measures can vary but generally encompass several key features:

Two-factor authentication (2FA)

2FA, or Two-Factor Authentication, goes beyond a standard password by requiring a second form of verification, such as a code sent to your phone or an authentication app. This significantly lowers the risk of unauthorized access since the odds of a cybercriminal having both your password and your phone are slim.

Encryption

Secure financial institutions use strong encryption to protect the data transmitted between your computer (or phone) and their servers. This ensures that even if data is intercepted, it remains unreadable to the thieves.

Fraud monitoring

Many banks and credit card companies monitor accounts for unusual activity and alert you if something seems amiss. This can help catch fraud early before it spirals.

Secure socket layer (SSL) certificates

Websites with SSL certificates have URLs that start with “https” rather than “http.” This means the data you input is encrypted, adding an additional layer of security.

How to Ensure Your Accounts Are Secure

Opt for institutions that prioritize security

When choosing a bank or credit card company, research their security measures. Are they using up-to-date encryption? Do they offer two-factor authentication? What is their policy on fraud protection?

Enable two-factor authentication

If your financial institution offers 2FA, enable it. This simple step adds a significant layer of security.

Regularly monitor your accounts

Don’t wait for your monthly statement. Regularly check your accounts online for any unauthorized transactions.

Use strong, unique passwords

Avoid common passwords and use a different password for each of your accounts. Consider using a password manager to keep track of them.

Be wary of phishing attempts

Always be skeptical of emails or messages asking for your personal information. When in doubt, contact the institution directly through official channels.

Facts and Statistics to Keep in Mind

• A disturbing find by a cybersecurity firm revealed that over 60% of email-related cyber threats in 2020 involved phishing attempts, highlighting the need for vigilance.
• In 2019, the global cost of cybercrime exceeded $1 trillion, a figure that underscores the economic impact of these activities.
• A study by Pew Research Center found that approximately 64% of Americans have personally experienced a major data breach, which stresses the widespread nature of the problem.

In conclusion, the adage “forewarned is forearmed” aptly applies to protecting one’s personal financial information. Secure accounts offer a comprehensive way to safeguard against the escalating threats of cybercrime, provided individuals take proactive steps to utilize the security features available. Living in the digital age demands not just enjoying its conveniences but also guarding against its perils. By understanding the critical importance of security and taking the necessary precautions, we can all play a part in ensuring our financial safety in this interconnected world. 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 tax season has already started, and like every year, we all look for the most comfortable and most practical way to present our tax returns, and why not? Claim the benefits of well-earned money.

But receiving them is not so simple, so we turned to the top high expert in financial matters, to give us practical advice to survive this season and deliver our declaration.

Open a Traditional IRA, and You Could Pay Fewer Taxes

Contributing to an Individual Retirement Account (Traditional IRA) could help you reduce the taxes you pay for income. What does this mean? Suppose your salary is $40,000 per year, and you would spend about $10,000 in taxes. What would happen if you saved $2,000 on a Traditional IRA? Your taxable income is reduced to $38,000, and you would pay $9,500 in taxes or $500 less. The best thing is that you would save $2,000 for your retirement. Also, opening an IRA will help you form the intelligent habit of saving for your retirement. It is automatic, so you do not have to worry about making deposits manually.

Do Not Stress and Declare Your Taxes as Soon as Possible

The IRS has already started accepting tax returns, and you have until the deadline to present yours. Schedule an appointment with your tax advisor as soon as possible. If you will use an online service, be sure to verify that you have your information from last year at hand or already registered in your account. 

The most important thing is that you are already gathering all the forms that you will need. For example, if you had more than one job last year, you must receive at least one form for each one. If your contributions include more than one dependent, you will need to have their social security numbers and dates of birth.

Check that Your W-4 is Up to Date

This season is perfect for evaluating your finances, including tax withholding, which is done automatically from your salary. Please discuss with your tax advisor whether you should amend the W-4 form so that it is updated and only retain what is necessary. Most of the time, you can request this form from your employer or directly from the human resources department.

Plan Well How to Invest Your Refund

If you receive a tax return, take the opportunity to spend on the Stock Exchange. Remember that you worked hard for that money (it is not a gift!) So, you must use it to reduce your debts, and why not? Buy yourself something that you need or want a lot. The important thing is that you dedicate a good percentage, say half, to invest in your future. This simple decision will help you grow your money over time. It may sound not extremely easy, but today with the help of technology, you can open an investment account in just 10 minutes and safely.

Most Frequent Errors

• Deduct expenses such as the purchase of the pantry, home address, telephone, etc. You can only deduct the necessary expenses to conduct a professional activity of your business or company. 
• Deduct costs, purchases, or investments without an invoice, receipt of fees, or lease. The sales notes are not enough; if you use them, the authorities can charge you surcharge fees. 
• Deduct expenses with vouchers that have the name of another person. If you do not have your complete information, it cannot be considered.
• Deduct the purchase of a car and the expenses related to it when it is used personally or as a family. If you want to deduct, it must be for when you work independently and need it to receive income, for example. 
• Pharmacy notes cannot be removed only if they are included in the hospital bill.

What if You Must Refile a Tax Return?

What if you made a mistake in filing your tax return? But fear not. All you must do is to file a recovery again. These amended tax returns must be filed before three years are passed from the original filing date.

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.

If you have been recently avoiding IRS notices regarding tax debt, you may want to think about taking numerous steps to resolve it. If not, your business, as well as your personal life, might become a lot more complicated and stressful. Nevertheless, the IRS has huge powers, for instance, to seize assets. Here are some of the steps that can be taken with your IRS tax debt:

Know Where You Stand

Carefully review all your IRS letters along with your tax returns. It should not come as a surprise that the agency might have made some mistakes. This means that you might ultimately reduce your debt. Even though it is usually a good idea to get support from a tax professional, these potential savings you gain might be more than the fees that you are going to pay.

Negotiate the Penalties

Tax penalties can spiral out of hand very quickly. This is the reason why you should act very swiftly when you deal with IRS debt. However, you might also be able to negotiate with your agency to lower and, sometimes, even eliminate the penalties if you show reasonable cause. Examples of this can include serious illness, difficult financial circumstances, and/or the destruction of your home or the business you are running. The IRS, furthermore, has a program that offers relief to those who have gotten in trouble with the agency for the very first time.

Payment Plan for Business Debt

After you know how much you owe, you can easily put together a working plan. One of the most common approaches is to set up an installment agreement. This arrangement might last for as long as six years (all payments should be made on a monthly basis with interest, or the penalties will continue to accrue). Remember, this kind of an agreement is going to put a stop to actions such as liens and levies. If you are indebted to $50,000 or less, then this process is most likely to be forthright. This can be done online; however, you are going to follow the IRS, for instance, having made the tax filings, deposits, and withholdings.

Reduce Business Expenses

You should always look at your operating costs. Figure out the expenses you might be able to deplete versus the services required for the daily operations of the business. For instance, are you going to pay for a subscription that you can make use of infrequently? Are there some professional memberships which you can suspend temporarily until you get the financial house back in order? Consult a professional accountant or use accounting software to predict the financial impact it would have on cutting costs.  

Other Options

Television advertisements often make bold claims about settling IRS debt at “pennies on the dollar,” but this proposition is usually too good to be true. However, the IRS does offer a legitimate option known as the “Offer in Compromise” (OIC), which allows individuals to settle their business debt at a discounted rate. This process involves completing and submitting forms 656 and 433, which require disclosing detailed financial information. The IRS uses this information to determine an amount that is considered reasonable for the debtor to pay without facing severe financial hardship. 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.