May 2018 - AccountingX

5670 Wilshire Blvd. Suite 1800 Los Angeles, CA 90036

Unite Business Wisdom to Maximize Your Impact

Unite Business Wisdom to Maximize Your Impact

 While nonprofits have fundamentally different goals than for-profit companies, they have many of the same demands. In particular, nonprofits need to meet certain regulatory requirements, some of which can be more challenging than their for-profit equivalents. In addition, nonprofits need to ensure they’re able to pay their bills, as investment is not possible for many. Here are a few reasons why the best nonprofit accounting solutions typically involve bringing in an outside expert.

Time Management

In the early days of running a nonprofit, individuals often take on roles outside of the areas of expertise. Many lack the budget to hire full-time accounting help. By working with outside business experts, those running nonprofits can ensure they’re operating as efficiently as possible. This allow employees to work on what they know best.

Meet Challenging Regulations

Nonprofit accounting solutions have a significant benefit: They ensure nonprofit organizations meet their legal obligations. Too often, nonprofit organizations make small mistakes, and these errors can lead to significant issues in the future. Missed deadlines and misfiled forms can haunt a nonprofit for years to come, and bringing aboard outside helps lets organizations avoid these potentially dangerous pitfalls.

Ensure Sustainability

Running a nonprofit entails dealing with unpredictability. The amount of funds available can change dramatically from year to year, and it’s difficult to determine the best way to invest in the future. With nonprofit accounting solutions, organizations can get a better overview of their operations and better determine their options. In some cases, consulting services can offer valuable insight from those who’ve studies both for-profit and nonprofit organizations.

Running a nonprofit entails relying on help when it’s available. By reaching out to those with expertise in nonprofit operations, organizations of all sizes can ensure they’re running in the most efficient way possible. By asking for help, those running nonprofits can focus on what they do best instead of worrying about paperwork. Schedule your free 15-minute  consultation today!

When Your Business Should Bring on a Controller

When Your Business Should Bring on a Controller

Running a business is about more than satisfying customers and clients: Businesses need to handle budgets and ensure bills and taxes are paid on time. However, many growing companies have trouble deciding how to best structure their accounting. In many cases, outsourcing a Southern California controller provides the flexibility and reliability companies need to thrive.

Saving Money

Controllers ensure day-to-day financial activities at their companies are handled properly. When bringing in a controller, you can ensure that your financial activities are monitored appropriately and that paperwork is filed on time and accurately. By relying on expert help, you avoid the risks associated with relying on employees whose expertise lie elsewhere. Furthermore, you save time, allowing employees to focus on tasks related to growing your business.

Save on Full-Time Employee Costs

When hiring a Southern California controller, relying on outsourced solutions can save a considerable amount of money. Outsourced solutions let you avoid the hassles of onboarding a full-time employee, and it ensures that your controller is paid proportionally to the work you need done. Even if you have a full-time accountant or chief financial officer, a controller will help relieve company-wide stress, ensuring your employees and executives aren’t overburdened.

Reporting

Controllers provide a robust overview of your company’s financial heath, and a Southern California controller will ensure you’re kept updated changes that occur. Controllers can report directly to a company’s owner or president, or they can report to a chief financial officer, so they fit into the hierarchies of most companies. This flexible reporting lets you focus on other areas confidently, as any problems that arise should be uncovered promptly.

New companies can sometimes forego hiring a controller, but the position is crucial across a wide range of industries. If your company’s financial demands are growing, reach out to find out how a controller can help keep operations under control. or more information on how you can hire an outsourced controller schedule you free 15-minute consultation today!

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