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Staff Accountants are the backbone of any good accounting firm and handle the majority of basic accounting functions for your company. When you have great Staff Accountants, your business will run more smoothly, and your CFO will be able to make the best possible decisions. When it comes to accounting, every small decision matters in a big way for the company as a whole. Here are a few qualities to look out for when hiring Staff Accountants:

Small businesses are among the most vulnerable groups to fraudulent activity. These businesses are more susceptible and face a greater risk of fraud because typically, they have employees working across many different departments as their job description, there is a closer relationship between the staff and owners, there are few oversight procedures in place, their accounting department has less expertise on financial functions, and there is a larger impact on the bottom line of a small fraudulent event. 

How can you prevent fraud in your small business? Here are a few tips to help you keep your company safe:

A skilled finance team provides strategic direction, sophisticated insights into the company’s financial situation, financial forecasting, growth planning, and tight control over budgets and cash flow. 

However, interviewing, hiring, training, and paying full-time salaries for each of these employees can be expensive and time-consuming. Many small businesses just don’t have the resources to assemble a full-time finance team. Outsourcing can help!

As most business owners know, the team behind your bookkeeping is vital to the success of your business. Still, things can get a little complicated when it comes to understanding the roles and responsibilities of each person. In the interest of clarity, we at TGG are always interested in the numbers and transparency, let’s outline each of their roles and responsibilities.  

Nonprofit executives must wear many hats. Not only are they responsible for fundraising to advance their organizational mission, but they may also be responsible for strategic planning, board communications, human resources, and recruiting, among other things.

More so than ever before, nonprofit leaders are under pressure to fundraise, manage operations, comply with state and federal regulatory requirements, and leverage resources cost-effectively.

The challenge of hiring and retaining talent is intensifying as the US workforce shrinks and wages increase. Most nonprofits do not have the resources to achieve all of this this in-house.

Small and medium sized businesses are usually at a crossroads when it comes to their bookkeeping and accounting, especially if they’re growing. “Should we hire a Controller or should we try to do it ourselves?”

There’s a third option that gets frequently overlooked: outsourced accounting services.

Outsourced accounting didn’t really exist ten years ago, but small businesses are turning to full-service outsourced accounting firms more often to increase efficiency, add professionalism and save time and money.

Most business owners assume that having an in-house bookkeeper, Controller, or CFO who can pay bills, run payroll and manage company finances is the best scenario for their business. They believe having a person down the hall will ensure they have a clear view of the company’s financial position, but this isn’t always the best solution.

In this post, we’ll explain why having access to greater financial expertise can be game-changing for small businesses looking to grow.

At TGG, we meet business owners everyday that are reluctant to outsource their accounting and financial functions because they think it will reduce visibility into the financial health of their business.

At the same time, they’re struggling with accounting and reporting issues–even when they have someone on staff to handle bookkeeping.

Large companies benefit from accounting and finance departments that have several layers of expertise at their disposal.

It’s usually too costly for small businesses to staff an entire finance department. But they can emulate this model by using an experienced, outsourced accounting service that provides the right expertise at the right times.

You might be surprised to know that this does not necessarily mean getting rid of your current staff.

Accounting for small business can mean different things at different times in your company’s growth and it’s important to have the right expertise on hand.

Here are the most common questions we hear when small businesses are considering outsourced accounting services.