Frequently Asked Questions

So, I'm a former corporate controller, but what the heck does that mean, exactly?

Here's what I was responsible for in my job as a controller: 

(P.S. I am aware that not all controllers wear all of these hats and some wear different ones; this is just my personal experience as the Controller and Network Administrator for five separate but related businesses. Yes, five. All at once.)

Monthly financials preparation, including General Ledger journal entries, bank reconciliations, financial report analysis, and daily cash flow management. 

Supervised Accounts Receivable, Accounts Payable, Human Resources/Payroll, and Information Technology departments.

Compiled extensive documentation and data required for annual external audits, government reporting, and credentialing. 

Served as point-of-contact with attorneys, auditors, brokers, and vendors.

Reviewed contracts and participated in negotiations.

Wrote, interpreted, and communicated company policies.

Implemented a digital time clock system.

Coordinated a company-wide software transition, including set up and data transfers, as well as access and training for hundreds of employees.

Prepared due diligence documentation during company acquisition.

I was a busy gal! And all of that work translates into a wealth of experience and knowledge that I love sharing with my clients. Want to work with me? Contact me and let's see what I can do to help you!

When money comes in to your business (or is expected), or when money goes out, those transactions must be properly categorized in particular income or expense accounts on your financial statement. Some of them are very straightforward, like if you purchase fuel for a work vehicle, while others require a little extra attention, such as purchasing the work vehicle itself, which may require special accounts to be created on your financial statements for the car loan and related payments or for depreciation purposes. It's important to keep transactions organized as they happen throughout the year; trying to remember or piece together a year's worth of information at tax time is daunting!

Reconciliation means that nothing is missing and everything is accounted for in your business books. 

In other words, use your bank, loan, and/or credit card statements to ensure that all transactions are appropriately recorded in your business's monthly financial statements. 

When accounts are reconciled, that means that there aren't any discrepancies between your bank/loan/credit card accounts and your financials. Everything matches!

Financial statements include multiple reports that show the financial health of your business. 

The Profit and Loss (P&L) statement will show your revenue (money earned) and expenses (money spent). The difference between the two is your profit (the money you have left over) or your loss (the money you've overspent).

The Balance Sheet shows your business's assets (positive things that benefit your business, like cash in the bank) and its liabilities (like loans you owe). Ultimately, it can show the overall value of your business.

Between these two reports, you can make informed decisions—for example, pricing your services or making purchases.