If you want to create a successful organization that can go toe to toe with the big players in your industry, you cannot do it without a dedicated accounting team by your side. You may prefer hiring in-house accountants or you may consider saving money by choosing a team of virtual accountants. However, before you make a decision, you need to understand the different types of large company accounting services and how each of them can help your organization climb the ladder of success faster.
- Bookkeeping Services
A bookkeeper can perform the following large company accounting services:
· Bank reconciliations
· Credit card management
· Accounts receivables and payables
· Payroll services
- Financial Accounting Services
Here are just some of the things a large company accounting service provider is responsible for:
· Making journal entries at month-end
· Reconciling the trial balance (to make sure the debit and credit columns are equal to create an accurate financial statement)
· Accrual accounting (to offer the most accurate picture of the company’s current financial situation)
· Financial assessment reports
· Budgeting and forecasting
· General business consulting
- Controller Services
The controller oversees the entire accounting system of an organization and creates financial reports. These specialists help you comprehend the financial foundations of your business by creating a consistent reporting system for precise analysis and building awareness of your company’s profit, cash flow, and other lifelines. Services performed by a controller include:
· Establishing accounting policies
· Building a cash flow model to predict future cash flow
· Financial management reporting
· Oversight of accounting and bookkeeping processes
- CFO Services
The Chief Financial Officer (CFO) is someone who sees the big picture and creates plans that are specifically related to business development. Essentially, the CFO will help you turn your business vision into a financially viable venture. A CFO should provide the following large company accounting:
· Break-even analysis
· Budget-to-actual reporting and analysis
· Labor cost management
· Debt planning and reduction
· Fixed v. variable expenses analysis
- CPA Services
Your Certified Public Accountant (CPA) does more than simply manage your tax; they can also audit your organization. Also, note that while all CPAs are accountants, not all accountants are CPAs. Just because someone claims they can “do the books”, doesn’t make them certified.
These uncertified accountants don’t have to hold themselves to the same professional standards as CPAs. A CPA can perform several large company accounting services including:
· Entity creation and organization
· Tax planning
· Income tax preparation
· IRS representation
Remote Accounting Online: We Can Meet All Your Large Company Accounting Needs
An increasing number of organizations are choosing virtual accounting services now that the world as a whole has embraced remote working post-COVID. By working with our team of bookkeepers, CFOs and CPAs at Remote Accounting Online, you can enjoy the following benefits:
- 60% more affordable than hiring in-house accounting staff
- Access to real-time financial data of your company thanks to our state-of-the-art technology
- Seamless onboarding process
- Month-to-month services; no long-term contracts
At Remote Accounting Online, our goal is to give you access to an entire team of highly qualified accountants, CFOs, and CPAs who are dedicated to making your success a priority. Let us help you save time, maximize cash, and improve collections. Call us at 541-772-5555 or drop us a message here to schedule a free strategy consultation.