Controllers are a key role in the accounting department. Their responsibilities often include managing the accounting team, ensuring that internal controls are in place and making recommendations to management for strategic business decisions. They also take on duties that typically fall on bookkeepers or accountants such as budgeting, forecasting and financial analysis. Depending on the size of your business, a controller may be able to manage all of these tasks themselves, or they may oversee the work of other employees in the accounting department.
When do you need a controller for your business?
A company needs a controller to develop policies and procedures for the bookkeeping/accounting team to follow that will enable them to grow the business while still recording accurate numbers. They will be able to provide you with financial statements that compare the numbers to industry standards or your own goals and vision for the business.
When you have too many things going on and you’re unsure what the numbers mean:
As your business grows, it can become more complicated to keep track of the accounting processes. You may start to find that some reports are not being put together properly or on time. A controller can help to delegate and organize these responsibilities, so they are completed efficiently. When looking for a controller, it is important to screen for strong leadership skills, excellent communication and the ability to break down complex financial jargon into easily understandable terms for all stakeholders.