Virtual Controller

Accounting Activites

Month End Close

We perform a “hard” close at the end of each month during which we review all accounts, prepare supporting documentation, and book journal entries to prepare more complete financial statements.

Advanced Accounting and Support

Throughout the month our staff will provide oversight and support of your company’s accounting activities. We’ll ensure that your financial data is accurate, up to date and presented in a relevant manner.

Tax Prep Assistance

We will provide quarterly financial reports to your tax preparer for estimated tax purposes, and we will provide year-end reports for your annual tax filings. Fintelligent does not provide any tax return preparation services.

Reporting

Financial Statements

Your monthly financial statements include an Income Statement (month and year-to-date), balance sheet (current month) and statement of cash flows (year to date) and are available after each monthly close.

Cloud Based Dashboard

We include up to two customized dashboards with key financial indicators that will be updated throughout the month as accounting transactions are processed. The cost of the software we use is included in our price to you. We use Klipfolio for QuickBooks Online and SageIntaccts native dashboard.

Advanced Reporting

In addition to preparing your financial statements, Fintelligent will also prepare up to five custom reports to add to your monthly financial package. These reports often involve details around product and customer sales or trend analysis.

Planning

12-Month Financial Plan

We will work with you to prepare a company-wide financial plan by month. This roadmap provides you with a set of measurable objectives to help you continuously improve your company’s financial performance.

We update the plan every month and roll it forward one month so you always have a 12-month outlook. Each year we perform a deeper planning exercise to develop the annual for the upcoming year.

We use Jirav to customize and automate your financial plan. You’ll have access to reports and dashboards showing your company’s performance against its plan.

Company-wide KPIs

We’ll work with you to develop a set of Key Performance Indicators to track and measure your company’s performance. These KPIs may include operational metrics so you can see how those measures drive increases in sales, profitability and cash flow. The KPIs are part of your 12-month plan and are reported to you via a dashboard and custom reports we develop for you.

Advisory & Analysis

Meetings with Virtual Controller

Our Virtual Controller will meet with your management team up to two times per month. One meeting will be used to review the monthly financial reports after the monthly close. The other meeting will be used to review and update the 12-month financial plan.

Add-Ons

The services below can be added to a Virtual Controller subscription:

Annual Audit or Review Assistance

We’ll assist your team in preparing for and managing through an annual audit or review from an independent auditor.

Deferred Revenue

We can help your company manage and calculate deferred revenue. If you’ve got fairly simple transactions and not much volume, we’ll use Excel and update deferred revenue at the end of each month. For more complex transactions or high volume, we can use SageIntacct to automate deferred revenue. You’ll need to use SageIntacct as your general ledger.

Employee Expense Reporting

Fintelligent will manage your employee expense reporting. For simple expense management, we post expense reports to Bill.com and pay from that system. We use Expensify for more robust expense management that automates the process.

Advanced Inventory

We offer robust inventory management in partnership with SageIntacct’s Advanced Inventory. This includes managing bills of materials, standard costing, purchasing, item management and warehousing. This service requires you have online access to the organization that manages your inventory. You also need to use SageIntacct as your general ledger.

Fixed Assets Management

Most companies we work with write off their fixed assets to take advantage tax rules that allow up to a $500,000 annual deduction. For situations where some fixed assets or other assets must be depreciated or amortize, we’ll maintain a schedule in Excel and provide it to your accountant at year-end for tax preparation. If you have a more robust need, we offer fixed asset management as a module within SageIntacct. You’ll need to use SageIntacct as your general ledger.

Job Costing

Companies that track employee or contractor time by customer benefit from allocating those costs between Cost of Goods Sold and Operating Expense. We’ll help you allocate your labor and other costs to customers to more accurately determine your customer profitability. This service requires access to your time and customer management system so we can easily pull the data we need to make allocations. We can offer Project Management within SageIntacct as well, so long as you are using SageIntacct as your general ledger.

Multi-Entity

Fintelligent will consolidate and report on multiple entities in a single instance. For QuickBooks Online companies, we prepare a consolidated financial statement in Excel at the end of the month. For a more automated experience, we use SageIntacct’s native consolidation feature. This requires you use SageIntacct as your general ledger.

Order Entry

If you use SageIntacct with us, we can enable sales order entry management.

Purchasing

If you use SageIntacct with us, we can enable purchase order management.

Software Integration

We have implemented third-party software solutions with QuickBooks Online and SageIntacct to provide greater alignment between operational metrics and financial performance. If needed, we’ll evaluate if we can integrate certain software you use into your general ledger.