Having timely, accurate financial data helps business owners understand where their money comes from and where it goes. Keeping up with daily accounting and monthly financials can be a burden and often, it falls to the bottom of a busy business owner's to-do list. If the financial management aspect of your business is too far down your priority list, Froehling Anderson offers outsourced financial services that confidently moves the task to right where it belongs: the highest priority of your operation.
Financial Accounting Services
Froehling Anderson’s Financial Accounting Solutions (FAS) team exists to help business owners who might not have the budget or capacity to hire an internal accountant but could benefit from the service nonetheless.
Managing daily accounting and monthly financials can easily be outsourced with confidence and continuity. Entrepreneurs and business leaders aren't typically financially trained, meaning their backgrounds and how they got into business wasn't contingent upon being accountants, controllers, or CFOs first. Our team, however, has the advantage of being the opposite. We chose these careers and the financial and accounting industry. We love what we do, and we're good at it.
How it Works
By utilizing cloud-based accounting systems like QuickBooks Online and Bill.com our FAS team can make real-time and accurate updates to financials throughout the month on behalf of our clients. This real-time update throughout the month helps create a smooth close to the books at the end of each month and year-end. At the end of each month, our FAS team will complete any remaining reconciliations, make monthly journal entries, and review the financials for accuracy.
Our team is also here to review monthly financials with business owners to help them understand the financial side of their business, learn where money is going, and where revenue is coming from. We believe in transparency and empowerment, encouraging our clients to increase their confidence in the financial aspect of their business. By providing this information timely throughout the year, business owners can make changes to help improve the financial status of their business.
Developing a keen understanding of the financial status of their business helps them plan for things like big purchases, hiring additional employees, awarding bonuses, considering expansion, etc. Having professionally reliable, sound financial data at the ready also helps with any reporting required by financial institutions and timely filing of the business's and owner’s tax returns each year.
CFO Services
Outsourced or virtual CFO (Chief Financial Officer) services support small businesses in a similar way to Financial Accounting Services covered previously.
However, for businesses seeking additional help analyzing the financial status of its business operation, Froehling Anderson offers CFO and Controller services that go above assisting with daily accounting and monthly closing of the books. Our team reviews your financials with you to help you understand the current trends specific to your business and industry. This insight allows clients to make timely changes and plan for future business endeavors.
Our CFO team is equipped with tools to help with strategic planning, budgeting, and projecting future business plans you might have. We also have tools to create custom KPI (key performance indicator) reports to help you understand how your business is doing compared to others in the industry. Our team is also rolling out an interactive dashboard that connects to QuickBooks and grants owners the ability to take an inside look at their financials.
Financial and Strategic Expertise
There will never be a time in business that not prioritizing your financial status will be a solid practice and wise use of your strategy. Today's economy calls for even further scrutiny as many small businesses continue to focus on stabilizing operations. Realizing the need for experienced, outsourced finance and accounting is the first step to take to reimagining the future of your business and long-term health of your brand, employees, and customers you serve. We're here to help.
