Don’t Hire Your CFO Just Yet

July 17, 2015 - 4 minutes read

When you launched your business, most likely you were really excited about getting to do something you always wanted to do. That may have been creating a certain product, providing a certain service, and really making a difference for the clients you served because of what product or service you provide.

You may have even had some clients already in place when you started, and you were excited about sharing the benefits of your products or services with new or potential clients, as well.

Along the way, some business realities came into play. Taxes, payroll, monthly financial reports, relationships with bankers or other financial institutions, and many other administrative details and processes became part of your business experience. And, for some (perhaps many or even most) people, the joy of having and operating a business is significantly reduced, if not lost altogether, because you are doing what you have to, and not what you really had in mind when you started.

Price CPAs provides some services that have proven highly valuable to our clients to help remove some of the burden of the financial and tax processes and allow them to re-focus more of their attention on doing what their business exists to do.

One of the services is the in-house bookkeeper. It means that a Price CPAs staff personowns the responsibility of gathering, organizing and processing the standard documents related to the financial side of your business. That ranges from invoices to payments and from payroll to tax information. The administrative burden that relieves often puts some very positive wind in the sales of business owners.

Another level of service in this area would be the Part-Time CFO. This service gives you a professional financial manager who works with you to help guide your business to success.

Clients who have used this service tell us that it has given them more time to focus on new services, new customers and other core business issues. It has given them a better understanding of the financial side of their business, removed surprises and established more control over the money. It has improved decision-making capabilities from clearly seeing the hard and true numbers of their business and provided readily available sounding board to help with those tough business decisions. And, it has helped clarify their business plans and expectations.

There are many other benefits to using this approach, including one that is purely financial. The cost of hiring a full-time CFO can range from approximately $75,000 to over well over $100,000 per year plus bonuses and benefits. Our Part-Time CFO services provides you with experienced support at a considerably more reasonable cost.

Price CPAs is committed to our vision and mission of making a positive difference in the financial experience of our clients. Providing support staff to help clients address their financial, tax and reporting responsibilities is just one way we do that. You can learn about other valuable services provided by Price CPAs on our recently refreshed website, www.pricecpas.com.