We conduct a periodic review of your general ledger to ensure all activity is posted correctly and that any necessary cash to accrual or income recognition adjustments have been made. The frequency of the review depends on the level of services required, but at minimum the review will take place monthly.
After each monthly review, we issue financial statements and lock your accounting data file for the period so that no data can be changed after the reports are issued without the controller’s full knowledge and permission. The controller then distributes the financial reports package for the month to designated personnel at your company. Monthly or quarterly, this report package will include a management letter explaining the significance of your financial reports and calling your attention to critical business ratios and areas of concern, and an invitation to meet with the controller for a thorough review and discussion of your financial reports.
Controller’s Roles
- Supervise and review bookkeeper
- Review of the Daily Status Report (DSR) sent by bookkeeper
- Conduct monthly appointment with bookkeeper to close the books
- Produce timely/accurate financial statements and management reports
- Ensure all revenue earned during the period has been recognized, as well as the associated expenses
- Provide Accrual Basis Reporting (including prepaid expenses, accrued expenses, accrued payroll, deferred revenue)
- Reconcile all Balance Sheet Accounts
- Provide Financial Dashboard Maintenance – Budget, Forecast
- Provide Monthly Management Letter
- Provide Monthly Meeting with Management
Additional Client-Specific Controller Services:
- Accounting System Establishing and Maintaining
- Cash Management
- Cost Management
- Internal Controls Establishing and Managing
- Assistance with Forecasting
- Customer Analysis Reports
- Major Expense Analysis
- Accounts Receivable and Accounts Payable Management
- Assistance with Product Pricing Decisions
- Profitability Analysis for Products and Divisions
- Capital Budget Monitoring
- Bonus and Commission Plan Design Assistance
- Special Report Preparation for Investors
- Accounting Rules and Regulations Compliance
- Trend Tracking & Profitability Analysis
- Financial Trend Analysis
- Audit Assistance
- Banking Relationships
Robert W. Yenor provides 20 years of expertise as a business consultant and accountant. He has built and sold many multi-million dollar companies. Mr. Yenor. is both a CPA and Enrolled Agent with the U.S. Department of the Treasury license...
