If your company has become large enough that you have the need for a CFO on staff, but you can’t afford one with your small business budget, consider “renting” one to fill this role. Our Padgett Business Services CPA can act as the CFO for your company, guiding your employees and enacting certain standards until you can afford to hire a permanent one. While you might think this service would be expensive, it’s actually affordable enough to fit into a small business budget.
To learn more about our part-time CFO services at Franklin-based Padgett Business Services, give us a call at (615) 377-1161.
Why Do You Need a CFO At All?
You might think that your company can get by without a CFO, especially if you have accounting professionals on your staff. But in reality you need one the most when you have a hired accounting department, even if it only has one person in it.
A company’s accounting department is in charge of many critical aspects of the business, including general accounting, payroll processing, bill paying and more. Your bookkeepers might be great at what they do, but they probably do not have the experience or wealth of knowledge that they need. Bookkeepers are not accounting or tax pros and they need some oversight.
How Can One Help?
A CFO professional understands and stays up to date with laws and regulations to make sure that your company won’t be liable for some unforeseen reason. They can also ensure that the accounting runs smoothly and prevent many problems for your company, including employee theft, missed tax deductions, detrimental business decisions made based on inaccurate financial information and susceptibility to audits.
We can also prevent many of these problems by overseeing the process and helping your company enact internal controls. We can streamline your process by checking work, managing bookkeepers and overseeing projects.
We can prevent employee theft by not giving any one employee the authority to steal funds, creating approval limits and setting other internal controls. We can use our expertise to find you every tax deduction and credit possible. We can provide accurate financial statements and reports so you can make informed and correct decisions. We can also legally minimize your tax liability and ensure that your books and documents are in order to ease an audit if you should ever have one.
What Makes Padgett Business Services Special?
When you work with Padgett Business Services, your part time CFO for your Franklin business will be local CPA Greg Lemons. Greg has worked in accounting for over 36 years. He has vast experience as the CFO and controller for Fortune 500 companies, so he is well equipped to handle anything thrown your company’s way financially.
In addition, Greg has owned his own local business for over 11 years and served more than 500 clients during that time. Greg now devotes his time and talent to small businesses like yours. He would be happy to extend his Fortune 500 experience to your company at a small business price. Call today at (615) 377-1161 to find out more.