what is a fractional CFO

What Is A Fractional CFO And Does My Business Need One?

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In the US, there are approximately 30.7 million small businesses.

At the same time, they’re often considered the backbone of the US economy; as many as 66% face financial challenges.

Only about 25% of small businesses last more than fifteen years. Some cite a lack of market interest as their downfall.

Lack of capital and intense competition are also an issue.

About 17% say they struggled with a lack of personal business knowledge.

In essence, they simply didn’t have the business knowledge to protect their business.

A fractional CFO might have been helpful to those small businesses.

What is a fractional CFO, and how can they benefit a business?

Read on to learn more about fractional CFOs, what they do, and the advantages of hiring one for your business.

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preparing to hire a bookkeeper

Preparing to Hire a Bookkeeper: A Comprehensive Checklist

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There’s a reason why there are nearly two million bookkeepers found in the United States.

These professionals are essential for maintaining business accounts and ledgers.

If you run a high-volume business that’s growing rapidly, you likely need a permanent bookkeeper to keep things organized.

However, how do you find someone who’s a good fit for your business?

When preparing to hire a bookkeeper, you need to know exactly what to look for.

That’s why we made this guide.

In it, we’ll go over a comprehensive checklist you should consider for these new accounting hires in Arizona.

That way, you don’t waste anyone’s time or money.

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Tasks Bookkeepers Handle

Top 7 Tasks Bookkeepers Handle for Small Businesses

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As the business world becomes more competitive, more businesses are relying on bookkeeping services than ever before.

Over the past five years, the demand for bookkeeping and related services in the United States has been growing by about 2.7% on average each year.

In 2023, there are more than 320,000 bookkeeping services that generate over $66 billion in revenue.

This industry continues to grow because of how valuable the tasks bookkeepers handle for businesses are.

Many businesses start to consider hiring bookkeeping services as they get bigger and busier.

On the other hand, some business owners hesitate to find a bookkeeper because they do not know exactly what one can do for their business.

Understanding more about the typical tasks your bookkeeper can handle for your business can help you appreciate the value they can add.

So what are some of the most common things a bookkeeper might be able to do to help your business?

Read on to learn the seven top tasks that bookkeepers can handle for small businesses!

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fractional cfo vs. fractional controller

Fractional CFO VS. Fractional Controller Services: What’s the Difference?

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Imagine running a thriving business but finding yourself buried under financial strategies and complex management reports.

With expanding operational demands, these aspects can often fall by the wayside.

Here’s where the value of fractional CFOs and controllers comes in.

They are crucial in managing financial operations without committing to a full-time position.

But what exactly are these roles, and more importantly, what are the key differences?

In this article, we explore the nuances between a fractional CFO vs. a fractional controller and why understanding these distinctions is critical to your business.

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The Vital Role of a Fractional Controller: Key Responsibilities and Benefits

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Managing your business finances is essential if you want to save money, capitalize on tax deductions, and get loans.

However, it’s difficult to keep track of every part of your finances without a dedicated accounting department.

It’s even worse if you need to do all the paperwork yourself.

One way to stay on top of your finances is by utilizing outsourced accounting services.

In particular, a fractional controller can help you drive revenue and profitability.

Here’s what you need to know about the role of a fractional controller and what to look for when hiring one.

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Time-Saving Benefits of Outsourced Bookkeeping to Maximize Productivity

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Business bookkeeping is a task that few small business owners look forward to.

About 40% of small business owners cite bookkeeping and taxes as the worst part of owning a business.

However, it is a crucial task for keeping your taxes and payroll organized.

That does not mean that you have to get stuck doing it yourself though.

One option that you have to get out of this task is to use outsourced bookkeeping.

Why should you consider outsourcing bookkeeping?

What are the biggest benefits that you get from doing this?

Here are some of the biggest pros.

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How Phoenix Accounting Services Can Help You Plan for the Future

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Have you ever worried about how your present financial habits might be affecting your financial future?

Thinking they might be hurting you in the long run?

They very well could be.

This is why you should strongly consider using the services of an accountant.

What, though, can Phoenix accounting services do to help your future finances?

Quite a bit, in fact.

Accounting services will benefit your financial future in the following ways:

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Maximizing Your Time and Money with Outsourced Bookkeeping Services

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Did you know that more than two-thirds of business owners do their own bookkeeping?

As a business owner in Arizona, managing your time and finances can be challenging.

It’s essential to keep track of your expenses, profits, and taxes while still ensuring that your daily operations run smoothly.

But many business owners don’t realize how much time and money they waste by trying to do their own bookkeeping.

By hiring bookkeeping services in Phoenix, you can maximize your time and money.

This will give you more room to focus on growing your business.

To help you understand the benefits of hiring a bookkeeper, we have put together a guide.

Keep reading if you want to find out more.

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the right business accountant for arizona company

Choosing the Right Business Accountant for Your Arizona-Based Company

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Choosing an accountant is a major decision for any business.

Fortunately, there are plenty to choose from.

With over 1.3 million accountants in the US alone, it’s one of the most common career paths that require a degree.

However, accountants handle finances for businesses, which means there’s no room for error.

Luckily, we can help with that.

Here’s what you need to know about choosing the right business accountant for your needs!

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saving time with business tax preparation in arizona

Saving Time and Money with Expert Business Tax Preparation in Arizona

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Tax preparation services make up a $14.4 billion market in the United States, and small business owners account for a large part of it.

If you run an enterprise of any kind, it’s important that you take advantage of tax preparation services.

There are professionals in Arizona that can help you make sure that your business taxes are handled correctly and on time, in addition to other services that you’re looking for.

Use this guide so that you can get help with all of your business tax preparation needs.

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