Author: Jennifer Brazer

Millennial entrepreneurs are sinking into student loan debt with soaring college tuition. Starting a new company is challenging, time-consuming, and costly, especially for recent college graduates. The Federal Reserve estimates Americans owe approximately $1.3 trillion in student loans.

The millennial generation signifies a sizable share of the nation’s 43 million student loan borrowers, and their debt load upsurges yearly. Beyond principal balances, the impact of student loan debt is felt in monthly expenditures. Ambitious entrepreneurs who finished post-graduate work can face an even higher average monthly payment amount.

But, the truth is most startup businesses fail, and the hype and mainstream appeal of entrepreneurship do not reflect the reality of the millennial employment marketplace. Student loan debt proves problematic for young entrepreneurs trying to save for a startup or small business attainment. Also, it produces cash flow burdens once the business is up and running.

Too often, large student loans dishearten talented millennials from chasing their entrepreneurial dreams. It doesn’t have to be that way. By learning to manage student loan responsibilities, millennial entrepreneurs can overcome these hindrances and realize their proprietorship dreams.

Handling Student Loan Debt When Opening or Buying a Small Business

Launching or purchasing a business isn’t for the faint of heart. It involves personal sacrifice and the aptitude to make hard decisions in your business and personal lives. If you’re a millennial entrepreneur, here’s the bad news: Your student loans aren’t going away.

But the good news is that you can organize repayment with good bookkeeping to minimize your student loan debt’s impact on your business proprietorship plans.

Loan Consolidation

Student loans can be either federal or private, although the choices are more restricted for private loans. Federal loans can be easily amalgamated to simplify repayment and lower monthly payment amounts. Under some circumstances, federal loan consolidations can be restructured into a graduated payment plan.

Instead of uniform monthly payments over the life of the loan, expenses are lower during the early years when you are just starting as a business proprietor and cash flow is tight. Payments increase after two or four years, but graduated repayment plans provide the breathing room you need to get your corporation off the ground.

Private loans can also be combined, especially if you have a good credit rating. Talk to your moneylender to determine whether you qualify for consolidation and, if so, which plan is most helpful in aiding you to achieve your objectives.

IBR and PAYE Programs

During the initial period of business proprietorship, most entrepreneurs have limited personal revenue. Instead of paying themselves, proprietors usually pour money back into their businesses. It’s an intelligent business stratagem, making it even more difficult for entrepreneurs to keep up with student loan payments.

Federal student loan defaulters with little or no income can apply to participate in Income-Based Repayment (IBR) and Pay-as-you-earn (PAYE) programs. These government-sponsored programs can be a Godsend to cash-strapped entrepreneurs because they catalog monthly payments to personal income. Monthly payments are capped at either 15 percent (IBR) or 10 percent (PAYE) of the borrower’s unrestricted income.

Bootstrapping

Bootstrapping is a tried and true strategy for entrepreneurs and business owners in the early stages of their professions. New proprietors often live thriftily to advance the odds of business success, even if it means radically altering their lifestyles for some time.

A bootstrap mentality can also help handle student loan debt. Living a prudent lifestyle for a few years can pay down your student loans without seriously impacting your business plans. The most important thing to remember is that your student loan debt won’t last forever. Once you repay your loans, you’ll have more money to invest in your company.

Conclusion

While millennials show enthusiasm and assurance for starting a company, they are combating unemployment, underemployment, and the unending student loan crisis. While we believe that entrepreneurs are critical for a healthy economy, most of us must be patient if we want to become successful business owners.

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

In traditional business accounting, overhead expenses refer to costs not directly associated with producing specific product units, specific service engagements, or specific sales. “Overhead” denotes the supplementary costs of production, service delivery, or sales activities. The overhead costs must be paid regularly, regardless of whether the company is engaged in high or low production volume.

It is vital, not just for budgeting and bookkeeping, but for setting an optimum price for the products and services to make a profit. Firms plan, quantify, and examine overhead expenses. As a result, overheads, like other expenses, eventually influence how an income statement proceeds. With the increase in costs, the profits decrease. Your income statement is affected, as a whole, because of these expenses, and you have to make the required adjustments to cater to them.

Overhead Expenses in Business Accounting

Overheads are either fixed, meaning they stay the same month after month, or variable, which can vary depending on the business activity for the specific month. Some overheads fall into the semi-variable category, meaning they are incurred regardless of business activity, and some are related to the circumstances.

Utility bills can be categorized as semi-variable because some base charges are fixed, while the remainder depends on your usage. Overheads can be general as well as departmental. A general overhead would be distributed among the whole company, while departmental overheads are charged strictly to the specific department. A service-based business typically has more general expenses like insurance and utilities.

Categorizing Overhead Expenses

Overheads can also be applied to many operational categories, such as administrative and marketing. Administrative overhead costs are related to the business administration and include hiring and keeping a receptionist or bookkeeper.

Branding for your company also involves certain costs that fall into overheads. Your business accounting needs require you to identify these materials, commercial, printing, and other expenses and charge them into overheads.

Reporting for Overheads

Because the overhead expenses directly affect the company’s profitability, they appear in its income statement. It would help if you accounted for overheads to determine your company’s net profitability. These expenses will be deducted from the revenue, and the remaining income, after taxes, will determine your profits.

Applied overhead is generally recorded under the cost accounting method and is charged to a specific department or production job. They are entirely dissimilar to general overheads and usually cover depreciation and insurance expenses.

Applied overhead expenses are charged according to a specified formula over multiple departments for business accounting purposes. For example, if the cost is incurred by marketing, it may not be fully allocated. Instead, it will be distributed among various departments according to a specific percentage.

Overhead Rate

An overhead rate is applied to allocate overheads, which determines the resources used in the production of each product and then distributes the expenses accordingly. One way to accomplish that is by setting a fixed rate based on the machine hours required to produce a product.

Setting a fixed rate is a simplified approach. However, real-time business accounting scenarios require you to account for several cost drivers and set an overhead rate. It cannot be easy to estimate the overhead expenses accurately. Therefore, the costs are generally estimated depending on the overhead rate for each cost driver.

Under Applied Overheads

Sometimes, the assigned cost of work-in-progress goods does not equal the assigned amount and must be reported as a prepaid expense on the balance sheet. Debiting the cost of goods sold at the end of a year offsets the discrepancy.

Under applied overhead costs, they are also referred to as unfavorable variance. Adjusting your books for overhead expenses is an important task that every business must undertake to estimate their profits and correctly set an optimum product price.

Conclusion 

In conclusion, understanding and managing overhead expenses in traditional business accounting are paramount. They impact pricing, profit, and overall financial health. Categorization, reporting, and application of overheads demand precision for accurate profitability assessment. Businesses must navigate fixed, variable, and semi-variable overheads, employing methods like overhead rates while addressing underapplied costs. Strategic accounting adjustments are crucial for optimal pricing, financial accuracy, and profitability.

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

In an era where digital transformation is not just a buzzword but a necessity, businesses across various sectors are migrating to the cloud at an unprecedented pace. While offering scalability, flexibility, and efficiency, this shift also opens a Pandora’s box of cybersecurity threats. In this context, cybersecurity emerges not merely as an IT concern but as a business imperative, especially for cloud-based businesses like accounting, where the confidentiality, integrity, and availability of financial data are paramount.

Understanding Cybersecurity

Cybersecurity refers to the practice of protecting systems, networks, and programs from digital attacks. These cyberattacks usually aim to access, change, or destroy sensitive information, extort money from users, or interrupt normal business processes. Implementing effective cybersecurity measures is particularly challenging today because there are more devices than people, and attackers are becoming more innovative.

The Importance of Cybersecurity for Cloud-Based Accounting Businesses

For cloud-based accounting businesses, cybersecurity is not just about protecting data from unauthorized access; it’s about safeguarding the business’s lifeline. Accounting data is sensitive but also critical for decision-making. A breach could result in financial loss and damage to a company’s reputation and client trust, which can have long-lasting effects.

Data protection

At the heart of cloud-based accounting is a wealth of financial data, including personal and corporate financial details, tax records, and transaction histories. Cybersecurity measures ensure this data is encrypted and protected against unauthorized access, thus maintaining confidentiality.

Regulatory compliance

Cloud-based accounting firms are often subject to stringent regulatory requirements regarding data security and privacy. Implementing robust cybersecurity practices helps these firms comply with regulations such as GDPR, HIPAA, or SOX, avoiding potential legal penalties.

Business continuity

Cyberattacks can disrupt business operations, leading to significant downtime. Effective cybersecurity includes not just preventive measures but also a comprehensive disaster recovery plan to ensure the business can continue operations even in the event of a breach.

Customer trust

In the digital age, customer trust is paramount. Businesses that demonstrate a commitment to cybersecurity can enhance their reputation and build stronger relationships with clients, who feel assured that their sensitive financial data is in safe hands.

A Critical Statistic and Fact

According to a report by IBM, the average cost of a data breach in 2020 was $3.86 million globally, a figure that is even higher for industries handling sensitive data like financial services. This statistic underscores the financial implications of cyber threats and the importance of investing in cybersecurity.

Furthermore, the RightScale 2019 State of the Cloud Report reports that over 90% of businesses use cloud services in some form, emphasizing the significance of cybersecurity in the Cloud Era. Yet, a staggering 27% of these businesses have experienced a security breach in their cloud environments. This highlights the urgent need for robust cybersecurity practices tailored to the cloud.

Best Practices for Enhancing Cybersecurity in Cloud-Based Accounting

Regular risk assessments

Conducting regular risk assessments can help identify potential vulnerabilities in the system and address them proactively.

Employee training

Human error is a significant factor in cybersecurity breaches. Regular training sessions for employees on cybersecurity best practices and potential threats can mitigate this risk.

Two-factor authentication (2FA)

Implementing 2FA can add an extra layer of security, making it more difficult for unauthorized users to access sensitive information.

Encryption

Encrypting data both at rest and in transit ensures that even if data is intercepted, it remains inaccessible to the attacker.

Regular updates and patches

Keeping software and systems up to date with the latest security patches is crucial in protecting against known vulnerabilities.

Cloud security solutions

Investing in specialized cloud security solutions that offer advanced threat protection, data loss prevention, and security analytics can provide an additional layer of security tailored to the unique challenges of the cloud environment.

In conclusion, as cloud-based accounting businesses embrace the digital age’s efficiencies, the specter of cyber threats looms large. Yet, with a comprehensive cybersecurity strategy, these businesses can protect themselves against potential threats and reinforce their reputation, ensure regulatory compliance, and, ultimately, secure their bottom line. Cybersecurity, thus, is not just a technical necessity but a strategic business advantage that cannot be overlooked.

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

In the healthcare industry, providing a quick and smooth service while maintaining patient information according to HIPAA requirements is not easy. Leading healthcare organizations address these demands through collaboration with Google’s cloud and making it easier for their patients to access their data under one roof.

Secure Access to Information

Google’s cloud ensures the information security that HIPAA requires, allowing health officials and patients limited logins to avoid any data theft. There is software that will enable you to identify how many times the document or information has been viewed.

If the system becomes corrupted or hacked, you know that your information is securely placed in the cloud. You can apply device encryption and share the file; authorized people can access patient data from any managed device. As a healthcare professional, you are responsible for ensuring the security of your patients’ information.

Provide Faster Service to Patients

Many websites connect patients with healthcare physicians across the United States. They allow patients to review inputs before they even see a doctor. When patients arrive at the clinic or hospital, they can fill out an online form that doctors, administration, and nurses can access. This way, you will already have your patient’s information and can follow up with them immediately. Patients can even fill out a feedback survey that will help improve customer service.

Access to Important Updates and Documents

Google Cloud makes it simple to create a streamlined information center. All you have to do is move all important data, policies, announcements, calendars, training, and resources to Google Drive and link it to the Google website. For example, a patient simultaneously visits a general physician, cardiologist, and cardiac surgeon.

Instead of faxing or emailing information to each other, the patient’s lab reports and follow-up information should be stored on the cloud. All three doctors can access the patient’s information from anywhere. If there is an emergency, the doctor can immediately access the patient’s medical history from their device.

Healthcare practitioners can also view previous clinical follow-ups. CT scans, X-rays, and audio or video messages can be uploaded to the cloud. Patients can view their medical history as well as their financial transactions. Let’s say the patient does not have medical insurance and pays out of pocket. Instead of visiting the account’s department, they can view all payment history on the cloud. Even the accounts department can perform their bookkeeping on the cloud and go paperless.

Ensure Consistency

One of the best examples is a leading pharmaceutical company providing patients with lifesaving medications worldwide. This company started using apps. However, not all apps can collaborate, so they moved to the cloud. Today, over 90,000 employees of this company use Gmail, calendar, and multiple tools to work simultaneously from 140 countries.

Google Cloud is easy to use. If you hire a new employee, you can add them to the Google Cloud from your admin control, and they have access to it; you do not have to wait to hear back from your IT department. For example, a new doctor is on board, and you have to provide them with a patient’s medical history. All you have to do is add them to the cloud, and they can access all the information. Depending on the IT department, it can create a hindrance at times.

Mobile Healthcare

Some medically complex patients, especially kids, have difficulty visiting hospitals or clinics. That is when home services are provided. For example, a speech therapist visits a child’s home for speech therapy. After the session, the therapist can directly input their device on the Google cloud and update the charts, reports, and medication list from the patient’s home. All other practitioners can view the updated information right away.

If your hospitals or clinics provide in-home services, Google Cloud makes that easier. You can track or update a patient’s information on the cloud; all other healthcare practitioners can view that information immediately.

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

If your company or business has been in trouble for a while and you cannot seem to pay off your corporate debts, your collectors may start looking for money. They can do this by threatening lawful action against you or your company.

The way your industry is set up and whether you or your business guarantees any debts or recompenses will predict how much your creditors will be able to get from you through your bookkeeping records. Furthermore, whether you file for insolvency may also change how much a creditor can obtain.

Protect the Company

Understandably, the first possibility in saving a business while handling its debt is taking money out of your pocket and putting it into your business. This use of your funds is a calculated risk that has possibly failed as often as it has prospered. It should only be done if you can validate it as a short-term bookkeeping approach that promises the probability of a long-term payout.

Cut Expenses

If you cannot bond out your business with private assets, you need to recognize areas where you can condense costs. Maybe you can sublease the unused space or sell off unused equipment. While lessening your employees is not a striking option, it may be essential to keep your business alive.

Contact Clients and Providers

Stay associated with your consumers and seek ways to upsurge your exposure and develop your business model, thus possibly increasing your profits. Offer your best clients discounts if they can pay you quicker. You should also contact your dealers to arrange discounts and deferred expenditures.

Contact Creditors

Contact every collector and advise them of your pickle. Ignoring your money lenders can only worsen matters while confronting a debt problem is easier when you act timely. Since it’s in everyone’s interest to find a resolution, request that your investors work with you on bookkeeping to lower interest rates, increase your credit line, or streamline your repayment options.

Amalgamate Loans

You can merge your business loans into one reimbursement, which may reduce monthly costs without negatively affecting your credit. A business debt consolidation loan can allow you to deal with a single collector rather than many and perhaps get a loan with a lower interest rate.

A debt consolidation company can facilitate the process hired to take accountability for conveying the new loan, gathering your business payments, and paying off your former creditors. The loan may be unsecured or secured by business assets.

Bankruptcy

As a last resort, liquidation is a route to salvage a company, especially if the business’s debt challenges are temporary and otherwise viable. Liquidation can always be measured when your company is deep in the red, and you may face collectors coming after you.

There needs to be a lot of thought before filing for bankruptcy, but it may be able to provide you with the period you need to get the whole lot straightened out. There is no assurance of what possessions you can keep after an insolvency, so you must prepare yourself.

Benefits of Bankruptcy: How it Can Help You

One of the main gains that can come from filing for liquidation is time. Once you have filed for insolvency, the bankruptcy court of law typically puts an automatic stay on all debt collection, meaning that none of your collectors can ban or recuperate your assets.

In addition, liquidation can wipe out unsafe debt (not protected by property, like credit card debt). However, fortified debts such as home mortgages and car loans are another story and must be deliberated individually. Because you put up possessions as a security for the loan, your creditor is still possibly authorized to take it, even if you file for insolvency.

Conclusion

However, if you think you are in imminent danger of losing your business and need help quickly, bankruptcy might be your best option. But before you file, get advice from a knowledgeable small-business attorney with bankruptcy experience.

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

Many organizations and business owners face fraud yearly due to their employees or business partners. New entrepreneurial start-ups and small businesses are more vulnerable. The risk of fraud has increased due to the advancement of technology and the progressive development of the world into a global village.

The increased awareness of technological development and complex organizational structure requires corporations to incorporate internal anti-fraud approaches to combat fraud. According to 2014 research reports by the global nation, organizations face a 5 % loss due to fraud each year, in which internal employees commit 85% of severe fraud cases. Organizations should develop multilayered fraud prevention strategies while keeping these statistics in view.

Following are the warning signs to detect fraud and stealing by an accountant.

Change in Habits and Behavior

A good manager should know their employees. They manage their time to have frequent conversations with each other. Good managers are concerned and aware of any problems they face professionally or personally. The basic information about your employee’s family, life, and habits will help detect any change in an employee’s habits.

The first sign that your accountant is stealing from you is a change in their habits. Suddenly becoming more proactive in your business, becoming disobedient towards you, or being on the phone more frequently are all signs that could be a red flag. Also, if they are suddenly working when no supervisor is present, keeping an eye on their activities is essential.  

Accountant in Bad Waters

Sometimes, an accountant under financial stress can commit fraud to fulfill their needs. The financial crisis could be due to the following circumstances: 

Unexpected Debt

Sudden debt faced by an accountant due to gambling, drinking, or divorce may be a reason for their fraudulent behavior. An accountant in financial strain may be a potential risk to your business. The financial burdens act as the trigger for theft.

Spending More Than Earning

If an accountant is spending more than they are earning, it could be a warning sign. Overspending on cars, shopping for homes, or taking loans all lead to financial strain, and they may think the only way out of this is by committing fraud.

Loose Internal Controls

A company’s loose internal controls are providing an opportunity for theft. Easy access to assets, checkbooks, or signed stamps leads the embezzler to find it easy to steal.

How to Prevent Fraud

Fraud deterrence is essential for all organizations. The bigger the organization, the more the chances of fraud increase. Fraud is as old as human history and can happen to any company or business despite the organizational structure and the number of workers. Small business managers tend to trust their workers more than more prominent organizations.

There may be weak internal controls. Fraud affects the finances, image, and morale of the company. All factors decline after a fraudulent case takes place. Most organizations adopt shortcuts for fraud prevention. These tactics largely decrease the opportunity for fraud.

Internal Controls

The internal controls of a system and organization define the plans to prevent the company and its assets from fraud and theft. This system should be revised frequently to analyze its effectiveness. It should be regularly updated according to a company’s new needs, development, and advancements. Internal controls should clearly define the accountability and compliance of its employees.

Documentation is an integral part of an internal control system and the most crucial tactic for fraud prevention. All procedures and transactions should be documented to minimize fraud. Every expense should be approved and countersigned by a managerial-level employee to ensure the validity of receipts and expenses. Restrict all physical and technical approaches to documents and information.

Segregation of Duties

Clear segregation of duties is crucial for internal control. Distribution of bookkeeping and payments among two or more accountants or bookkeepers helps to prevent fraud.

Outsource Accountant

One of the best ways to prevent fraud is to outsource accounting and bookkeeping functions to a third party.

Be Systematic

Use accounting software to prevent fraud. QuickBooks handles all the key processes of accounting and prevents fraud. Assign limited rights to all employees according to their job descriptions and responsibilities. Keep passwords and logins private.

Conclusion

Fraud in business can result in major financial loss, wastage of time, and a ruined reputation. Implementing multilayered fraud risk strategies leads to a successful business protected from fraud and theft.

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

For small businesses to smoothly manage and run their business expenses, keeping tabs on your cash inflows and outflows is essential. There is no question about it: the significance of proper expense administration for any business of any magnitude is huge.

The execution of the best business practices is a giant factor in the revenue, growth, and, eventually, success and achievement of the business.

Bookkeeping is an excellent way for small and medium-sized businesses to manage expenses. The concept of bookkeeping cannot be stressed enough in any occupation or management. By efficiently handling and keeping tabs on business expenses, owners can gain a multitude of advantages:

Block Unseen Sinkholes

At times, your money is lost in places it should not be. By managing your business expenses well, you can easily find those unseen sinkholes. Though, as the name would imply, these sinkholes are unseen, you should be aware of them to understand where money losses are in your finances.

Maximize Income

By eliminating wasteful expenditures and making the best use of considered tax-deductible items, business owners can achieve a noteworthy aggregate of revenue. You can also add other streams of income.

Generate Prospects for Growth 

It can be a huge deal for business owners if they know where their money is spent. It also makes a big difference in finding out how effectively that money is being spent. These two aspects are significant factors in the preparation and accomplishment of the future growth of the business.

To improve your business expense tracking technique, business owners should implement the practices below.

Be Certain That Business Expense Policy Is Firm, Clear, And Fair

Your company’s business expense policy must be well-founded, fair, and unambiguous. If there are any exceptions, they should be set aside for exceptional situations. The organization should ensure its managers, employees, and clients are familiar with and well aware of the policies.

When formulating a business expense policy, the one thing that should remain a priority is the ease of communication. After all, you don’t want your employees to go through the company textbook whenever they have questions to understand the business expense policy. The key here is simplicity.

Keep Your Business Expense Reporting Procedures Clear and Simple

Keeping the importance of simplicity in mind, we will further elaborate on the next point. When we talk of simplicity, it has its benefits and advantages. The first point is that the simpler you keep your business process and procedures, the more your employees will comply. The more simplified the procedure is, the more your employees will stick to it.

Secondly, if the procedures are complex, it will increase inaccuracy in managing the business expenses. The more administrative boxes and Excel spreadsheets you have that need to be entered, the more chances there will be a blunder made somewhere. These are blunders that could end in the forfeiture of an expensive entitlement.

Finally, and most significant of all, simplicity means speed and swiftness. If the system is simpler, your clients and employees will spend less time on business operations.

Gather Relevant and Required Information for All Business Expenses

When it is time to file tax returns, non-compliant invoices can immediately kill the likelihood of you getting your hands on any money.

Whenever a reclaimable expenditure is incurred, the associated invoices and receipts will guarantee you get your money back. This is why saving those invoices and receipts is essential to be accepted for a tax refund by the appropriate taxation office.

Conclusion

In conclusion, effective business expense management is paramount for success. Blocking unseen sinkholes, maximizing income, and generating growth prospects hinge on efficient expense tracking. Implementing clear policies, simple reporting procedures, and meticulous record-keeping are vital. A firm commitment to best practices ensures business resilience, financial optimization, and a pathway to sustained success.

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

By: Jennifer Brazer

Jennifer is the author of From Cubicle to Cloud and Founder/CEO of Complete Controller, a pioneering financial services firm that helps entrepreneurs break free of traditional constraints and scale their businesses to new heights.

Fact Checked By: Brittany McMillen

Effective Anti-Fraud Strategies to Protect Your Business

Anti fraud strategies are systematic measures businesses implement to prevent, detect, and respond to financial crimes, protecting revenue streams from internal theft, cyber scams, and vendor fraud that collectively drain 5% of annual revenue globally. These comprehensive approaches combine technological safeguards, policy frameworks, and cultural vigilance to create multi-layered defenses against increasingly sophisticated threats targeting businesses of all sizes.

In my 20+ years as CEO of Complete Controller, I’ve witnessed fraud devastate unprepared businesses—one client lost $250,000 to invoice manipulation because they trusted a single employee with both approval and payment functions. The good news? Simple, scalable strategies can slash fraud incidents by 90% within months. This guide shares battle-tested tactics that have protected thousands of businesses across industries, from tech startups to established manufacturers, giving you the exact blueprint to fortify your operations against both external attacks and insider threats.

What are anti-fraud strategies, and how do they protect your business?

• Anti-fraud strategies integrate prevention tools, detection systems, employee training, and response protocols to block financial crimes before damage occurs.
• They minimize direct financial losses, legal liabilities, regulatory penalties, and reputational harm while maintaining customer trust.
• Effective plans balance proactive prevention (access controls, verification systems) with reactive detection (anomaly monitoring, audits).
• Small businesses benefit most, as they experience 28% higher fraud losses per incident than larger enterprises with dedicated security teams.
• Implementation requires leadership commitment, cross-department collaboration, and continuous refinement based on emerging threat patterns.

Building Your Fraud Defense Foundation

Your anti fraud strategies must start with understanding vulnerabilities unique to your business model, industry, and operational structure. Organizations lose a median of $145,000 per fraud incident in 2024, marking a 24% increase from just two years ago—pandemic-era remote work and economic pressures created new exploitation opportunities that criminals continue leveraging.

The cornerstone of any fraud prevention framework is a comprehensive risk assessment that catalogs potential threats across all business functions. Start by mapping every point where money moves through your organization: payment processing, payroll systems, vendor relationships, customer refunds, and expense reimbursements. Rate each vulnerability by likelihood and potential impact, then document existing controls already in place.

The 7-Step fraud risk assessment framework

1. Identify inherent risks specific to your industry and business model
2. Map existing controls like approval hierarchies and system access restrictions
3. Evaluate control effectiveness through testing and historical incident analysis
4. Calculate residual risk remaining after current controls
5. Prioritize gaps based on potential loss severity and likelihood
6. Design targeted interventions addressing the highest-priority vulnerabilities
7. Schedule quarterly reviews to adapt to evolving threats

Implementing internal controls that actually work

Segregation of duties forms the backbone of internal fraud prevention—no single employee should control an entire financial process from initiation to completion. Separate invoice approval from payment processing, divide bank reconciliation from transaction recording, and rotate responsibilities periodically to prevent collusion.

Surprise audits and continuous monitoring systems reduce fraud losses by 50% or more according to the Association of Certified Fraud Examiners. Schedule unannounced reviews of high-risk areas like expense reports, vendor payments, and inventory management. Document findings meticulously and follow up on any anomalies, no matter how minor they appear initially.

Technological Shields: AI and Machine Learning in Fraud Prevention

Modern anti fraud strategies leverage artificial intelligence to detect patterns invisible to human reviewers, analyzing millions of data points across transactions, user behaviors, and communication patterns. These systems learn from each interaction, becoming more accurate at distinguishing legitimate activities from fraudulent attempts over time.

Behavioral analytics represents the cutting edge of fraud detection technology, creating unique profiles for each user based on typing patterns, transaction timing, device usage, and navigation habits. When someone deviates significantly from their established baseline—perhaps logging in from an unusual location or processing transactions outside normal hours—the system triggers immediate alerts for investigation.

Real-time detection through behavioral analysis

• Keystroke dynamics identify users by typing rhythm and pressure patterns
• Transaction velocity monitoring flags unusual payment frequencies or amounts
• Device fingerprinting recognizes authorized hardware and blocks unknown access attempts
• Network analysis maps relationships between accounts to spot coordinated fraud rings
• Natural language processing scans emails and messages for phishing indicators

Top fraud detection tools for 2025

Tool	Best For	Key Features	Starting Price
Feedzai	Enterprise operations	Cross-channel ML scoring	Custom quotes
SEON	Small to medium businesses	Social media risk profiling	$299/month
Tookitaki	Financial institutions	Collective intelligence network	$500/month
Signifyd	E-commerce platforms	Chargeback guarantee	1% of GMV
Kount	Omnichannel retail	Identity verification suite	$1,500/month

Premium spirits brand Au Vodka faced surging fraud during international expansion until implementing Signifyd’s AI-powered verification system. Within 90 days, fraudulent orders dropped 97% while legitimate order approvals increased, eliminating both revenue leakage and customer friction from false declines.

The Human Firewall: Training and Culture

Technology alone cannot prevent fraud—84% of perpetrators exhibit observable behavioral red flags before committing crimes, according to industry research. Living beyond apparent means, financial difficulties, and unusually close vendor relationships all signal potential risks that trained employees can identify early.

Creating a fraud-aware culture starts with leadership demonstrating security consciousness through daily actions. When executives consistently follow security protocols, lock sensitive documents, and openly discuss fraud risks, employees internalize these behaviors as organizational priorities rather than bureaucratic obstacles.

Developing anti-fraud training that sticks

Effective training programs combine theoretical knowledge with practical application through scenario-based learning. Rather than generic PowerPoint presentations, use real examples (anonymized) from your industry to demonstrate how fraud actually occurs and what warning signs to monitor.

• Monthly phishing simulations test employee vigilance with increasingly sophisticated attempts
• Red flag workshops teach recognition of invoice manipulation, check tampering, and vendor fraud
• Anonymous reporting systems provide safe channels for concerns without fear of retaliation
• Department-specific modules address unique risks in finance, procurement, and operations
• Gamification elements reward fraud prevention behaviors and knowledge retention

Building trust through transparency

Whistleblowing serves as your most powerful fraud detection tool—tips expose 43% of all occupational fraud cases. Yet employees often hesitate to report suspicions, fearing retaliation or being wrong. Combat this by publishing investigation outcomes (maintaining anonymity) and celebrating employees who report concerns, regardless of whether fraud is confirmed.

Your 90-Day Fraud Prevention Implementation Roadmap

Transforming fraud vulnerability into resilience requires systematic execution rather than scattered initiatives. This proven roadmap prioritizes high-impact changes that deliver immediate protection while building toward comprehensive security.

1st Month: Assessment and foundation (Weeks 1-4)

• Week 1: Conduct comprehensive fraud risk assessment across all departments. Interview key personnel about current processes, document money movement paths, and identify control gaps. Pay special attention to areas with recent staff turnover or system changes.
• Week 2: Implement immediate segregation of duties for critical financial processes. Separate authorization, recording, and custody functions. Update system permissions to enforce these divisions technically, not just through policy.
• Week 3: Deploy multi-factor authentication on all financial systems and enable encryption for sensitive data transmission. These basic technological safeguards block 80% of external fraud attempts with minimal investment.
• Week 4: Schedule surprise audits for the following quarter and establish baseline metrics for fraud monitoring. Document normal transaction patterns, vendor payment schedules, and employee expense trends for future comparison.

2nd Month: Technology and training (Weeks 5-8)

• Week 5-6: Select and implement fraud detection software appropriate for your business size and industry. Start with basic transaction monitoring and anomaly detection before adding advanced features.
• Week 7: Launch mandatory anti-fraud training for all employees, beginning with high-risk departments. Include practical exercises like identifying doctored invoices and suspicious emails.
• Week 8: Establish anonymous reporting channels through hotlines, web forms, or third-party services. Communicate the process clearly and guarantee non-retaliation for good-faith reports.

3rd Month: Optimization and culture (Weeks 9-12)

• Week 9-10: Analyze initial results from new controls and technology. Review flagged transactions, investigate any incidents, and refine detection parameters based on false positive rates.
• Week 11: Implement physical security measures including clean desk policies, locked filing cabinets, and visitor access controls. These simple steps prevent opportunistic fraud and reinforce security consciousness.
• Week 12: Conduct first quarterly risk reassessment, incorporating lessons learned. Update response plans, adjust control priorities, and celebrate early wins to maintain momentum.

When Fraud Strikes: Response and Recovery Protocol

Despite best prevention efforts, some fraud attempts may succeed—rapid, methodical response minimizes damage and prevents recurrence. The first 24 hours after discovery prove critical for evidence preservation, loss mitigation, and stakeholder communication.

Immediate containment steps

Upon discovering potential fraud, immediately isolate affected systems to prevent further damage. Disable compromised user accounts, freeze suspicious transactions if still pending, and secure all related documentation. Contact your financial institution within 24 hours—many can reverse recent transactions or freeze accounts to prevent additional losses.

Preserve digital evidence meticulously for potential legal proceedings. Create forensic copies of relevant servers, email accounts, and transaction logs before any cleanup efforts. Document the discovery timeline, personnel involved, and initial impact assessment for insurance claims and law enforcement reports.

Legal compliance and communication strategy

Engage legal counsel immediately to navigate disclosure requirements under regulations like GDPR, CCPA, or industry-specific mandates. Different jurisdictions impose varying notification timelines and communication standards for affected parties.

Notify impacted customers through secure, encrypted channels within required timeframes. Transparency builds trust—acknowledge the incident, explain protective measures taken, and provide specific guidance for their own security. Avoid admitting fault or speculating about causes until investigations conclude.

Turning Vigilance Into Competitive Advantage

After two decades helping businesses implement anti fraud strategies, I’ve learned that the most successful companies view fraud prevention not as a cost center but as a business enabler. When customers and partners know you take security seriously, they trust you with larger transactions and longer-term relationships.

The strategies outlined here have protected thousands of Complete Controller clients from devastating losses while actually improving operational efficiency. Segregation of duties clarifies responsibilities, surprise audits identify process improvements, and fraud awareness training creates more engaged employees who understand their vital role in organizational success.

Start implementing these proven tactics today—even small steps like enabling multi-factor authentication or scheduling your first surprise audit create momentum toward comprehensive protection. Visit Complete Controller to access our fraud risk assessment template and connect with experts who can customize these strategies for your specific business needs.

Frequently Asked Questions About Anti-Fraud Strategies

What’s the most cost-effective anti-fraud tool for small businesses?

Address verification combined with IP geolocation blocks 60% of e-commerce fraud for under $50 monthly. These tools flag mismatched billing addresses and suspicious geographic patterns without complex implementation requirements.

How often should businesses update their fraud risk assessments?

Conduct comprehensive assessments quarterly, with immediate updates following major operational changes like new payment systems, significant staff changes, or expansion into new markets where fraud patterns differ.

Can AI fraud detection completely replace human investigators?

AI excels at pattern recognition and processing vast data volumes, but human investigators remain essential for contextual analysis, ethical decision-making, and building the cultural elements that prevent insider fraud.

What’s the number one warning sign of payroll fraud?

Employees who never take vacation or refuse to cross-train others often hide fraudulent activities that would surface during their absence. Mandatory vacation policies help detect ongoing schemes.

How do we encourage fraud reporting without creating a culture of suspicion?

Frame reporting as protecting the team and company rather than policing colleagues. Guarantee anonymity, prohibit retaliation through written policies, and share positive outcomes from past reports to demonstrate the value of vigilance.

Sources

• Association of Certified Fraud Examiners. (2024). “Occupational Fraud 2024: A Report to the Nations.” www.acfe.com
• Anchin. (2024). “Alert: Fraud Study Results 2024.” www.anchin.com/uploads/1413/doc/Alert06152018ACFE_LFVS.pdf
• CISA. “Understanding and Preventing Cyber Fraud.” www.cisa.gov/uscert
• Counter Fraud Centre. (2024). “Digest the Occupational Fraud Report 2024.” www.counterfraud.gov.au
• David Anderson & Associates. (2024). “Latest ACFE Study Reveals the State of Fraud in 2024.” davidandersonassociates.com
• FBI. “Scams and Safety: Business Fraud Prevention.” www.fbi.gov/scams-and-safety
• NIST. “Artificial Intelligence in Fraud Detection.” www.nist.gov/topics/artificial-intelligence
• Regions Bank. (2025). “Fraud Protection for Your Business.”
• Shopify. (2024). “Fraud Prevention Best Practices.”
• Signifyd. (2025). “Shopify Chargeback Guarantee: Approve More Orders.” www.signifyd.com/blog/chargeback-guarantee-for-shopify
• SSA & Company. (2024). “Fraud Study Results 2024.” www.ssacpa.com/fraud-study-results-2024
• Thomson Reuters. (2024). “Fraud Prevention: An Overview.”
• Tookitaki. (2025). “Mastering Fraud Prevention and Detection.”

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

The small business restaurant is one of the more challenging businesses to own. Chain restaurants have the advantage of national or global ad campaigns that benefit franchise owners, but small business restaurants must use creative strategies to get enough business to succeed. These strategies must also be low to no cost to help the business while not eating away profits. Here are marketing strategies to get people ordering, eating, sharing, and returning that won’t break the bank.

Promotions and Coupons

While the taste and quality of the food served will be the biggest draw for a restaurant, customers will be equally concerned with cost. Offering coupons on the next meal or running specials and promotions will keep them returning as much as the excellent food. You can be creative with these promotions or coupons or even use them to help boost traffic on days your business is slow. This kind of promotion is only limited by your creativity because you can do anything you want to boost your business.

Website

Having a business website featuring your menu and information is a must for a restaurant. The website should be inviting and include pictures of mouth-watering food and the warm atmosphere customers can expect when they visit. An added attraction that could bring your restaurant more business through the website is to have an online ordering feature. This feature will allow take-out customers to peruse your menu longer, often resulting in added items they may not add if ordering over the phone.

Social Media

The most effective social media platforms for small business restaurants are Facebook, Instagram, and Twitter. These platforms allow the restaurant to interact directly with regular and potential customers. Posts on social media should focus on the restaurant, the food, information, and engagement. The goal is to increase your online presence to help potential customers find your restaurant.

Reviews 

Don’t be afraid to ask customers to review your restaurant. Many potential customers use search engines to find new restaurants in their area. When deciding to try something new, online reviews significantly drive traffic to your restaurant. Try giving special offers, discounts, or free food or drinks in exchange for a review. It is a low-cost way to drive significant traffic to your restaurant.

Blogging

Adding a blog to your already engaging website can bring more traffic to discovering your restaurant. The content needs to be keyword-heavy, simple, and engaging. Use your website analytics to find out what search words bring traffic to your site, and make sure every blog includes those words. Using humor and including community interests, in addition to featuring food and restaurant staff, will have people wanting to come to try you out.

Interaction

It would help employ other tried and true marketing approaches outside digital marketing strategies. Run ads in local publications as can be afforded, attend community events, hand out free samples, and use flyers and signage. Interacting with potential customers will get them in, and your food and atmosphere will keep them returning. When you are a personally owned restaurant, you must interact with those in your community; that alone can increase traffic. People love to frequent businesses in their community when they have more of a personal connection.

Conclusion

Marketing is the most crucial element in your business’s success when running a small restaurant outside of the food quality. Everyone knows most restaurants fail within the first three years, but your restaurant doesn’t have to be part of that statistic. Implementing these simple marketing strategies will make your small business restaurant the hottest game in town in no time!

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

Perhaps you have dreamed of owning a restaurant for years, or maybe you never dreamed you would ever get into the industry. Whatever the journey, owning and managing a restaurant is a tough job. To survive any length of time, not only must you serve delicious cuisine, but you must also stay on top of your finances. We will discuss the warning signs that may warn you that your restaurant business is in financial hot water. These red flags are any dangers that could damage your restaurant’s productivity and lower the generated revenue. 

Absence of an Efficient Bookkeeping Framework

The first and most critical snippet of data that is asked for when assessing the financial soundness of a restaurant is a duplicate of its bookkeeping programming record (most commonly a QuickBooks reinforcement document).

Printed duplicates of essential money-related articulations (Profit and Loss and Balance Sheet) are insufficient for this undertaking since they do not confirm the accuracy of the numbers exhibited. Just checking how all of the budgetary exchanges are really “posted” to General Ledger will determine the level of precision of the numbers delivered.

Since you cannot oversee what you cannot tally, a restaurant whose bookkeeping framework (or scarcity in that department) is not legitimately set up and actualized frequently will result in a restaurant proprietor who is “flying visually impaired.”

High Key Working Costs in Respect to Net Deals

Food and drink purchases and work costs such as compensation, manager-paid assessments, and advantages represent 62-68 pennies of every dollar in restaurant deals. The consolidated aggregate of these two cost classes alluded to as your restaurant’s “Prime Costs” is where the fight for gainfulness is genuinely pursued.

This is because they speak to the highest level of your aggregate costs, and you can control them. Unlike utility and protection costs, which are generally settled, you can specifically affect your nourishment cost rate by more powerful acquiring, item dealings, and menu evaluating. Thus, employing work on the format of your kitchen and the way your menu items are chosen can positively affect work costs.

Menu Items are not Precisely Archived, Cost, and Refreshed

The most widely recognized strategy for menu item valuing used throughout the years is the ‘relative approach.’ Check a couple of different restaurants you contend with, locate a comparable item on their menu, and value your item.

It’s one thing to record and cost out your menu to determine your offering cost by considering your rivals. Yet, it’s very different to cost exclusively off of them. In all actuality, it takes considerable training and time to painstakingly and precisely report and cost (and re-cost intermittently as your merchant costs change) your menu items.

Stock levels are not Checked and Recorded in Bookkeeping Records

Most autonomous restaurant administrators confound their month-to-month food and drink purchases with their month-to-month utilization. You can never determine a precise sustenance cost without knowing your start and completion inventories.

 For a restaurant with nourishment offers of $50,000/month, a stock distinction of $1000 between the start and end of the month can convert into a fluctuation of 2%. This difference speaks to a large portion of the aggregate yearly benefit of a run-of-the-mill full-administration restaurant. You cannot deal with your sustenance costs if you do not recognize them. And you cannot comprehend what they are if you do not check and record your stock changes.

Stock levels are Too High in Respect to Comparing Deals

This red flag is not as straightforward as the others, yet it can be similarly as genuine an impediment to your restaurant’s productivity. A restaurant that conveys excessive stock will unavoidably have higher food costs. An excessive amount of food sitting in your stock will bring about abundance squanders, over-distributing, lessened item use, and burglary. It will likewise tie up your most significant resource, money!

In any case, how do you decide what amount of stock is excessive or what the perfect measure of stock is? A run-of-the-mill full administration restaurant should have close to 7 days of stock. That number can be diminished by a few days for busy restaurants.

Financial Information is not Gathered, Researched, or Followed Up On

On the off chance that you need to be fiscally fruitful, you should be similar to restaurant chains regarding the proactive administration of your business. In a straightforward design, each chain restaurant creates a daily and weekly report that abridges all of the critical working information, including deals (by classification), work (by division), and food/drink purchases.

Starting and closing inventories and other settled costs dispensed once daily deliver a weekly gauge of the restaurant’s net benefit. You may not have the advantage of an IT staff like restaurant chains do to make these frameworks. However, you can use this data with some tech to distinguish issues as they happen.

Incorrect Data in Your Bookkeeping Framework

A standout among the red flags is that a wide range of the financial sections is presented on the wrong records. This outcome results in monetary reports that are both mistaken and misleading.

The most frequent mistakes that are seen revolve around wages, no acknowledgment of rebates or complimentary dinners, mistaken posting of offers assessed gathered, and blessing authentication sold recorded as income and not as an obligation.

Also, representative wages and the manager-paid finance charges joined as wages, recording capital costs as conventional costs, posting protection initial installments and portion installments as costs in the month paid instead of utilizing “paid ahead of time” records to spread them equally finished the year.

Current Liabilities are Higher than Current Resources

After recording your weekly deals, seller bills go to your Balance Sheet and gap your present resources such as money, credit card receipts in travel, debt claims, and food and drink inventories. Also, by your present liabilities such as merchant charges, deals assess, rent installments, and now credits due.

Depending on Bank adjust to Oversee Income

This is a simple warning to spot and shows either the absence of an appropriately working bookkeeping framework or a fundamental misjudgment of overseeing income. Here is the motivation behind why.

Your online adjustment discloses how much money you currently have but is not always accurate. It does not represent money that has not yet cleared your record. You have to unquestionably depend on your Balance Sheet to reveal how much you have. This implies that you have to precisely record every one of your deals, all bills, and related installments on a convenient premise.

Not Fully Understanding the Financial Statements

Besides not having an efficient bookkeeping framework, the most genuine budgetary warning is when a restaurant owner cannot peruse and translate the three critical financial reports promptly accessible by all bookkeeping programs: Profit and Loss Statement, Balance Sheet, and Statement of Cash Flows.

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.