How an Outsourced Controller in Texas Can Help Your Business

A business professional reviewing financials and looking into an outsourced controller in Texas

Texas is ripe with new business opportunities. Whether you’re in Austin, Houston, Dallas, San Antonio, or other parts of the state, you can find access to funding to help launch your new venture. But, starting a new business comes with a host of accounting challenges.

Start-ups typically turn to a bookkeeper for help with basic accounting and tax situations. However, as your business grows and you encounter more complex issues, you will need the experience of a controller.

Quite often, the complexity of situations outpaces a new company’s ability to hire a full-time controller. That’s why it’s a good idea to consider an outsourced controller in Texas to handle detailed accounting needs such as accruals, proper revenue recognition, prepaid reconciliation, fixed asset amortization, and more.

Responsibilities of an Outsourced Controller in Texas

A controller is typically responsible for overseeing all of the accounting functions within your organization. If you have a CFO in your company, the controller will generally report to this officer. The controller will be responsible for several critical tasks, including:

  • Producing accurate financial statements.
  • Making updates to the general ledger.
  • Providing oversight into Accounts Receivable (A/R) and Accounts Payable (A/P).
  • Reviewing payroll entries.
  • Preparing yearly budgets.
  • Analyzing financial data.
  • Ensuring compliance with federal and local tax laws in Texas.

The controller will also be responsible for coordinating with department managers to address areas where the organization could scale and achieve cost efficiency.

Controllers are fundamental team contributors to any business. Given the extent of duties related to the role, hiring the right candidate could take a lot of time and a large financial investment. That’s why it’s a good idea to consider the outsourcing option.

What Duties Can You Assign to an Outsourced Controller?

An outsourced controller will contribute to your company in the same way as a full-time employee, but without incurring some of the costs that would come with hiring an internal employee.

The key duties for an outsourced controller in Texas include:

  • Regulatory Compliance with tax
  • Evaluation of internal controls
  • Financial statement preparation
  • External auditor coordination
  • Budget and forecasting
  • Preparation of cash flow statements
  • Internal controls evaluation
  • Month end oversight
  • Cash Management
  • Revenue Recognition
  • Payroll Systems Implementation
  • Data Clean-Up
  • Account Reconciliation
  • Record Keeping
  • Policy Documentation
  • Billings and Collections

Is Now the Time to Outsource Controller Duties?

A controller is one of the hardest roles to fill in a start-up organization. They are in high demand, and companies will compete for highly-skilled controllers with a proven track record.  In today’s job market, experienced controllers can command large salaries, bonuses, and benefits.

If your company is not ready to take the leap of hiring a full-time controller, then you can take the interim step of looking for an outsourced professional who can handle the duties you need at the current stage of growth. Consider the benefits of outsourcing:

  • Working with an expert who can utilize your accounting system.
  • Reduced time-to-value utilizing an outsourced controller vs. interviewing and vetting several full-time candidates.
  • Minimal risk of unwanted turnover needing to hire again.
  • The cost-effective approach of avoiding recruiting fees, payroll taxes, and paying benefits.
  • Opportunity for process improvements quickly embedding a controller into your system.
  • Reduction in fraud risk by retaining control over processes.
  • Flexibility to meet your current business needs with the ability to scale when ready.

Finlyte Can Support Your Outsourced Accounting Needs

Finlyte offers outsourced accounting services so you can focus on the rest of your business. We can take on the role of an outsourced controller in Texas to help your start-up continue to achieve growth.

Our team of local accounting experts will integrate into your system in just a few days. We’ll make sure the right policies and procedures are implemented, and we’ll provide timely, accurate financial reports.

Finlyte tailors our services around your needs Let our controller services take your financial management to the next level through critical oversight and account management. . You will feel confident knowing that accounting, financial, tax, and business situations are under control.

We understand the needs of start-ups, and we have the expertise to guide you through complex situations as you continue to grow. Contact us today to schedule a consultation with our expert team.