Small Business Accounting Personnel - Controllers

A controller is responsible for the functional accounting duties in a company. In small and entrepreneurial businesses, a controller is often a bookkeeper who possesses an accounting degree. In these firms, the controller often assists the owners with financial management activities as well.

You can think of a controller as the “buck stops here person” with respects to the functional aspects of your company’s accounting system and for administering and monitoring the policies and procedures for the system

In additional to these duties, small business controllers are often responsible for the following:

• Financial statement preparation:
• Prepare periodic tax returns such as payroll, sales and use taxes;
• Financial analysis and performance reports; and
• Cash flow management.

As a corporate chief financial officer (CFO), I knew that a good controller was worth their weight in gold. At my last CFO position, I was fortunate enough to have had the best controller I’ve ever worked with. Roland helped me greatly by staying on top of the accounting system, cash flows, and the daily accounting activities. This allowed me to concentrate on my financial management responsibilities. I couldn’t have had the success I had at that company without the Roland’s help.

Comments

[Business accounting]

The accounting system must have a mechanism to ensure that all entries balance. Indeed,most automated accounting systems won't let you enter an out-of-balance entry-they'll just beep at you until you fix your error.

[Scot Justice]

I believe you are responding to my comment that controllers keep on top of the functional accounting.

Yes, automated accounting systems do beep at you when entries are out of balance, but they won't catch an entry made to the wrong expense account or an incorrect accrual to account for future tax payable.

This is why it is advantageous to have someone, such as a controller, to make sure your accounting system is functioning correctly.

[accounting software for small business]

A controllers, in my opinion must be eligible to use an accounting software, nowadays, a system must be used to prevent leakage of data and for security and reliability of the company

-kim

[Scot Justice]

Kim, Of course, controllers have to know the system they manage. Every company I've been CFO of that had a controller, the controller was the person who had the hands-on management of the accounting system.

[small business accounting]

Scot, I agree to you that all companies do have their controllers that manages their system. And they would probably make sure that the their controllers do have enough knowledge on what they are ought to do.

Thanks for the share.
More power.

Jane