Category: Content

Many business owners forced to postpone their business sale plans due to the pandemic are finally ready to move forward after an economic crisis. Financial advisers and accountants must understand how to serve clients effectively while selling their business. Some of the essential parts of aiding your clients are listed below.

The Buyer’s Key Points

Getting ready to meet with a potential buyer is exciting for any seller. You should arrange ahead of time with your customer to guarantee a successful encounter. Your client should be ready (and at ease) to provide information that the buyer will find interesting. This section includes the seller’s main reasons for selling, the legal state of the company, and any commercial challenges the owner has encountered.

You should also advise your client on the documents they must present to potential buyers, including balance sheets, cash flow statements, and other records. A potential buyer may also want to see property records, intellectual property assets, employee policies, and other papers if they are relevant to the transaction. You can avoid unpleasant surprises once discussions with buyers begin by alerting your client about anything the buyer might ask.

Identifying Possibilities to Lower the Tax Burden and Determining the Bestselling Structure

Most importantly, your client is happy with the transaction after selling their firm. As a result, it is crucial to assess the sale’s structure and assist your client in identifying any options to decrease their tax liability.

The Company’s Structure

It is vital to find viable restructuring options that meet the potential buyer’s goals while minimizing your client’s tax burden.

Stock Sale vs. Asset Sale

If your client’s company is a corporation, the tax treatment of the sale will depend on whether it organizes a stock or asset sale. While most sellers prefer a stock sale, your client should be prepared to negotiate the sale structure with a buyer who might choose an asset sale.

Negotiating the Purchasing Price

It is crucial to direct your client on negotiating the finalization of the purchasing price and understand the buyer’s expectations before finalizing the sale of any company-owned asset.

Profits Should be Reinvested in Opportunity Zones

If owners who realize capital gains on the sale of their firm act within 180 days of the deal, they may be able to defer tax on those gains. They can put the money back into an Opportunity Zone.

Sell Your Business to Employees

If your business is a C corporation, you can sell shares to your employees through an employee stock ownership plan if you plan for time (ESOP). You decide on a reasonable sale price, and the ESOP pays you cash. It might roll over the proceeds into a diversified portfolio to avoid paying taxes on the gain.

Enhance Your Knowledge of Tax Issues

These are essential factors to consider while helping clients prepare to sell their business. It is critical to understand how you can apply your accounting knowledge to help your customers prepare for the changes that come with such a significant decision as selling their company.

Business owners also find it extremely hard to let go of their businesses. They enjoy the excitement of the chase and have made no specific plans for retirement. They could wish to discuss forming a consultancy arrangement with the buyer. It gives the departing owner continued revenue and tax benefits (claiming the qualified business income deduction if eligible).

Selling a business is a complex procedure from a legal and tax standpoint. It is essential to consult with a professional before making severe decisions or proceeding with deals.

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.

Social media is one of the most important strategies of digital marketing. Whether small businesses or large brands, each company must initiate a successful social media campaign. Multiple social media platforms enable businesses to reach their target audience and engage with potential customers.

Effective social media strategy helps businesses escalate the height of success. Business tycoons understand how social media is essential for the growth of their business. It enables you to increase your customers, create a community, convert prospects into loyal customers, and generate more leads and sales.

The most exciting thing about running a social media campaign is that it is cost-friendly. You don’t need to pay a considerable investment in marketing. It’s cheaper and more effective.

However, as a business person or marketer, you need to know some essential factors to succeed in your social media campaign. Here are the factors to improve social media strategy.

Create a Strategy

Social media is necessary but can’t succeed without a planned strategy. Remember that you can’t get good responses when mindlessly posting random stuff. This way, you can’t increase followers. You need a plan! Before jumping into the social media pool, make a documented outline. Get the things confirmed that you want to achieve from this strategy.

It would be best to mention every alpha-to-omega detail on a documented outline. First, you need to get important information on your goals, whom you want to target, and what you have planned to achieve for the long term.

The outline or document will help you make the most suitable decisions in the future. Once you have an overall strategy, you will do each step with a plan.

Engaging Content

Individuals use social media to form a network. Similarly, businesses utilize social media platforms to engage with their customers. One of the factors of a successful social media campaign is engaging content. The more you interact with your audience, the more they trust your brand.

Interaction converts your prospects into loyal customers. If your prospects visit your social media and don’t find any engaging content, there are rare chances that they will make a buying decision. You must engage with your prospects to persuade them.

Consistency

Successful social media strategy depends on consistency, too. No matter how strong your social media presence is today, you’ll lose all the charm if you don’t show consistency. Marketers need to be consistent in posting content.

Yes, it isn’t easy to consistently create lots of social media content. In such a situation, you can share other related content. Remember that consistency is the most crucial factor of social media marketing.

Target Your Audience

There is no benefit in sending marketing messages to people uninterested in your product or service. It’s essential to set a target. Reach people who want or need your offerings. Many people make the biggest mistake of simply pressing the ‘boost’ button to boost their posts.

Keep in mind that simply boosting doesn’t give effective results. Your posts might not reach your target prospect interested in your offerings. It would help if you targeted your audience specifically. This way, you can get effective results on your social media campaign.

Building Relationships

Social media is one of the best platforms to build customer relationships. If you don’t utilize this platform to create a strong customer relationship, you can’t enjoy the real perks of a social media campaign.

How do you build a relationship? Make your audience feel personally connected through your engaging posts. Respond to their queries and provide value to the followers.

Respond to Comments

Most social media pages don’t pay attention to all the comments. Your posts get comments every day. It’s not better to ignore these comments. When you respond to your customers, the followers will feel connected to your brand. Consequently, you’ll make a strong connection with your customers.

Call-to-Action (CTA)

Do you want to earn money using social media? You can use an appealing call-to-action (CTA) to an interested audience to make a buying decision. CTA takes your brand a step closer to generating leads and sales.

The Bottom Line

A successful social media campaign requires essential factors. These critical factors help you implement an effective social media strategy that can lead your business to 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.

The business world never remains constant. Things keep getting changed with time and technological advancements. Businesses before relied on different aspects of marketing, and companies now wholly depend on modern-day strategies. Since COVID-19 hit the world last year, business owners have preferred approaching digital marketing agencies.

Last year, due to the pandemic, businesses were in up-and-down positions. Some got tremendous sales, some suffered amid financial crises, and some companies permanently closed due to the pandemic.

Businesses that successfully maintained a handsome number of sales and revenue mainly switched themselves to the digital world. When physical shops were prohibited during the pandemic, customers approached online platforms to shop and meet businesses. People stayed at home using different online networks to kill their spare time.

Customers spending more time on the digital platform was an opportunity for digital marketing agencies. These agencies efficiently targeted more people online to increase the number of leads and sales. After the pandemic, businesses understood the importance of digital marketing. This modern-day marketing can help in escalating the height of business success.

However, in the post-pandemic world, the concept of business marketing has completely changed. Social distances will still be there, and people will prefer online platforms over the physical marketplace. Therefore, the future of digital marketing agencies is bright. Most businesses will switch to digital marketing to gain more customers around the globe.

Though life isn’t easy in the post-pandemic world, marketing firms will benefit from digital marketing strategies. Let’s discuss the future of digital marketing agencies in this new world.

Reaching More Customers

The pandemic has changed the lifestyle of customers. People confined to home learned and gained trust for online shopping. People prefer ordering by phone and receiving products at home. So, businesses will have more audiences to reach. There are no more restrictions on location or region. One can easily shop from any website at home.

Therefore, businesses have great opportunities to reach more customers. Throughout the pandemic, people have entirely embraced the online realm. Whether pandemic or no pandemic, people are more likely to use technology and online platforms to make their lifestyle easy.

In the future, digital marketing agencies may reach more customers, but there will still be a challenge – persuading people to make decisions. However, agencies must invest in every possible strategy to stimulate the audience’s attention. They must hire content writers, graphic designers, SEO experts, and other skillful resources to ensure quality services from their end.

Agencies cannot afford to slack on their strategies because many competitors will be available digitally.

Excellent Return on Investment (ROI)

Due to the devastating situation of businesses during the pandemic, business owners learned to adopt the alternative digital marketing strategy. However, with more acceptance, it is no more an alternative option. But businesses have learned to stick to this modern-day marketing permanently.

It’s an excellent opportunity for the agencies to get a great return on investment (ROI) because of the services they may offer to entrepreneurs. Keep in mind; it’s about what services you provide and how these services can solve the problems. Therefore, agencies need to convince businesses how their services can benefit businesses in the modern era of digitalization.

Customers from Around the Globe

The future belongs to digital marketing. So, digital marketing agencies can enjoy enormous benefits in the future. First and foremost, the thing is that these agencies are not bound to provide services to their country or region. Agencies can provide services to businesses running around the globe.

Agencies may stimulate international customers. What does it mean? It means more brand awareness and more revenue. These agencies can provide digital marketing services to clients in other corners of the world.

The Bottom Line

It’s amazing how online shopping has become a go-to for many during these unprecedented times. And with this shift, digital marketing services have become more crucial than ever in helping businesses reach their desired audience. As competition grows, digital marketing agencies have to stay on top of the game by continually improving their services and using the latest technologies available.

This enables them to offer their clients marketing strategies that are not only budget-friendly, but also result-driven. With the right digital marketing agency, businesses can be confident in achieving their goals and thriving in the online marketplace.

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.

It is likely that you are familiar with the concept of virtual assistants, who are able to offerremote professional support in a variety of administrative and creative capacities using your computer or laptop. These individuals are often highly skilled and can provide valuable assistance to those seeking to streamline their work processes or improve their productivity. Whether you are a busy professional, entrepreneur, or simply someone seeking to better manage your time and resources, a virtual assistant may be just what you need to achieve your goals.

Let us now look at the characteristics of virtual assistants carefully.

They’re Highly Reliable

Dependability is fundamental. Virtual assistants could perhaps be the most splendid, qualified people you have experienced. Yet, if you can’t depend on them to cover the advancement of a venture or reasonably answer your messages, it will hurt your business over the long haul. Since your menial helper will undoubtedly be working at a distant limit, they need to display a degree of obligation and self-sufficiency to play out the undertakings appointed to them with no handholding.

Eventually: You should feel sure they can create great work – not simply show up when they should.

They’re an Excellent Communicator

Before you even stretch out a proposal to somebody, they ought to have superior and successful relational abilities to react reasonably to your messages or calls. Vulnerable communication, primarily concerning a challenge or problem they are facing, can lead to distressing outcomes.

A failure to impart could bring about false impressions that postpone measures, produce additional expenses, and hurt your relationship with customers. Ensure your VA is open to exploring various vehicles of correspondence – regardless of whether FaceTime, the email supplier you use, any task the board programming, text informing, and so on.

Virtual Assistants are Resourceful and Proactive

The last thing you need is to employ a menial helper who goes through their agenda without putting time into delivering quality work or investing additional work. The general purpose of utilizing the aid of a virtual assistant is to have some assistance to complete relegated errands, discover arrangements, and tackle gives that might emerge with customers.

While it’s ridiculous to expect your virtual assistant to be a jack or jill-of-all-exchanges and have the skill to do everything, they ought to be creative. They could ask about a specific errand in a VA discussion, watch a YouTube instructional exercise, or examine articles revealing crucial information.

For instance, if one of your customer’s solicitations has a bookkeeping page reordered in order, a straightforward Google search would tell your VA the best way to do it.

Remote helpers specializing in their art will proactively maintain industry patterns, contender on-goings, and the most recent innovation. It could be a distinct advantage for your business. VAs who can tackle issues, think about their feet, step up to the plate and convey the most outstanding work will save you time and mental stability.

They’re Trustworthy and Honest

Nobody needs to recruit a dishonest worker, yet genuineness is more predominant than in recent memory when working with somebody in a virtual limit. Like anybody, your VA will undoubtedly commit an error or blunder now and again.

What matters is a decent VA will come to you about any issues that emerge or postpone that keep them from finishing the work on schedule. Many organizations utilize a screen and time-checking framework to follow their VA’s advance and guarantee they check in at the correct hours.

In any case, that is an individual choice and boils down to your trust in yourself. virtual assistant

They Can Multi-Task

If we somehow managed to drill down the central five regions, a remote helper should dominate; performing multiple tasks would unquestionably be one of them. They will probably have different activities or assignments on their plate. They should be able to remain coordinated, keep things pushing ahead, and shuffle various customers gracefully. Keeping a decent timetable, realizing what to focus on, and working is indispensable for a fruitful remote helper.

They’re Able to Work Well Under Pressure

Things might get a little turbulent on your end, yet you never need customers to perceive what’s happening in the background. It is significant for your VA to comprehend too. They should emphasize causing every customer to feel like they are the primary need – paying little mind to how furious the responsibility might be.

Cases might happen where there’s a short go-around time or a higher responsibility than ordinary, and your virtual assistant ought to have the option to deal with the critical factor and shun giving any pressure or pessimism to a customer (regardless of whether it’s accidental).

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.

As a marketer, you understand digital marketing is the must-do strategy to achieve marketing goals. One of the core objectives of modern-day marketing includes SEO strategy. However, SEO experts suggest that Link Building is essential to a successful SEO strategy. It’s the number one off-page SEO function.

Moreover, Google counts backlinks as one of the top three elements of search engine results. Backlinks have the power to affect the search result rankings. Therefore, Link Building has become one of the most effective digital marketing strategies in the digital world.

This blog will shed light on the significant benefits of backlinks in digital marketing. Before you count the blessings, it’s better to know what link-building is.

What is Link Building?

It’s marketing your site through other sites, usually higher authority websites. It would help if you placed your website’s backlinks on external websites. It wouldn’t be wrong to say that it’s a process of advertising your site’s link all over the internet.

Google looks at your backlinks as recommendations for your site. Google takes backlinks in such a way that your content is so good that an external website takes your link as a credible source.

Benefits of Link Building

Backlinks are significant factors to boost your website on the top search rankings. Here are the benefits of why this approach is essential for effective digital marketing.

Increased Website Traffic

As a marketer or businessperson, you surely want to get significant traffic on your site. Backlinks are the most effective strategy if you will stimulate relevant audiences from higher authority sites in your industry.

Consequently, an effective link-building strategy allows your website to increase its traffic. However, you know very well that website traffic is the main subject of a website’s health.

Improved Search Rankings

What’s the goal of your SEO strategy? Each marketer wants to enhance the website search rankings. Every SEO specialist will tell you that backlinks improve the website’s search rankings.

Remember that your competitors who rank above you in the search ranking have more backlinks than you.

Increased Website Metrics and SEO Scores

As a marketer, you must be familiar with digital marketing metrics and SEO scores. With effective backlinks, you can improve your website metrics, such as Domain Rating (DR), Domain Authority (DA), Page Rank (PA), and so on.

These improved metrics eventually improve your website’s health. It also enhances exposure and visibility.

Credibility and Reputation

When higher authority websites mention your backlinks, credibility and reputation automatically increase. This strategy increases your site’s credibility in front of SEO crawlers and Google and builds a reputation in front of the users.

When the leading authority site mentions your site, the users will perceive your site to be in the same position.

More Leads and Revenue

Your main objective is to generate more leads and sales. Your main concern is generating maximum revenue. Higher website traffic and improved metrics create opportunities to generate more sales and increase revenue.

With improved traffic and metrics, you will not only be able to make sales, but you’ll also be able to generate revenue from alternative factors, such as paid promotions, Google AdSense, and collaborations. Backlinks will consequently enhance your profit margins and revenues.

Continuous Referral Traffic

Once you create permanent backlinks on higher authority sites, you get referral traffic on your site regularly. In this way, you can ensure website traffic from external sites for the long term.

Standing as an Authority Voice

Every business wants to stay at the top positions in their respective industry, then why shouldn’t your brand? A well-planned and well-executed backlink strategy will help your brand site become an authoritative voice in your niche. Standing as an authority voice leads to more sales, revenues, customers’ trust, and strong branding.

The Bottom Line

Link Building is one of the influential factors of SEO strategy. It increases credibility and helps your site to ensure a top-ranking position. The higher authority websites always have an increased number of backlinks.

A marketer must use effective backlinks for your business growth and the website’s health.

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

Bookkeeping and Accounting Services for Nonprofits:
Essential Financial Solutions for Mission-Driven Organizations

Bookkeeping and accounting services for nonprofits provide specialized financial management solutions that address unique challenges like fund accounting, grant tracking, compliance reporting, and donor management while maximizing operational efficiency. These tailored services help mission-focused organizations maintain financial transparency, meet regulatory requirements, and optimize limited resources to better serve their communities.

As the founder of Complete Controller, I’ve witnessed firsthand how proper financial management transforms struggling nonprofits into thriving organizations. With 47% of nonprofits reporting inadequate funding to deliver their programs and 68% planning service cuts in the next two years, professional accounting support isn’t a luxury—it’s survival. Throughout my 20+ years working with organizations across all sectors, I’ve developed systems that free nonprofits from administrative burdens so they can focus on what matters most: their mission.

What are bookkeeping and accounting services for nonprofits and why are they important?

• Specialized financial management solutions tailored to nonprofit regulatory requirements, fund accounting needs, and grant management obligations
• Comprehensive services ranging from basic transaction recording to complex compliance reporting and strategic financial planning
• Critical support for maintaining tax-exempt status through accurate Form 990 preparation and regulatory filings
• Essential tools for demonstrating transparency to donors, grantors, and stakeholders
• Strategic resources that transform financial operations from administrative burdens into mission-advancing assets

Understanding Nonprofit Financial Challenges

Nonprofit organizations face unique financial complexities that standard accounting approaches often fail to address properly. Unlike for-profit businesses that focus primarily on profit margins, nonprofits must track multiple funding sources with varying restrictions while demonstrating responsible stewardship to donors, grantors, and regulatory agencies.

The financial stakes are particularly high for mission-driven organizations. According to FORVIS Mazars’ 2025 State of the Nonprofit Sector Report, nearly half of nonprofits lack adequate funding to deliver their core programs, with two-thirds planning service cuts within two years due to financial constraints. This reality makes efficient financial management not just about compliance, but about organizational survival.

Common challenges include:

• Managing restricted vs. unrestricted funds
• Tracking grant expenditures against approved budgets
• Preparing for annual audits and Form 990 filings
• Allocating shared expenses across programs
• Reconciling diverse revenue streams (donations, grants, program fees)
• Operating with limited administrative budgets

Specialized nonprofit bookkeeping services directly address these challenges by implementing fund accounting practices, establishing audit-ready record systems, and providing expertise in nonprofit tax regulations.

Core Bookkeeping Services Every Nonprofit Needs

Professional nonprofit bookkeeping services deliver foundation-level financial management that keeps organizations compliant and operationally sound. These services establish the infrastructure needed for accurate reporting and strategic decision-making.

Daily financial management

Effective nonprofit bookkeeping starts with systematic handling of routine transactions:

• Revenue recording by source and restriction status
• Expense categorization by program, administrative, and fundraising functions
• Bank and credit card reconciliations
• Accounts payable and receivable management
• Cash flow monitoring and forecasting

The systematic approach ensures every dollar is tracked from receipt to expenditure, creating transparency that donors and regulators expect.

Compliance documentation

Nonprofits face unique compliance requirements that specialized bookkeepers understand:

• Donor acknowledgment letter preparation
• Grant expenditure tracking and reporting
• State charitable registration filings
• Documentation for tax-exempt purchases
• Record retention systems meeting IRS requirements

These compliance measures protect your organization’s tax-exempt status and reputation with stakeholders.

Financial statement preparation

Regular financial reporting is essential for board oversight and organizational management:

• Statement of Financial Position (Balance Sheet)
• Statement of Activities (Income Statement)
• Statement of Functional Expenses
• Statement of Cash Flows
• Budget-to-actual comparisons

These reports follow nonprofit accounting standards, properly reflecting fund restrictions and program-specific performance.

Advanced Accounting Services for Strategic Nonprofits

Beyond basic bookkeeping, comprehensive nonprofit accounting services provide strategic financial support that transforms operational efficiency and organizational impact.

Fund accounting expertise

Proper fund accounting services represent the cornerstone of nonprofit financial management:

• Separate tracking of restricted, temporarily restricted, and unrestricted funds
• Multi-program expense allocation methodologies
• Endowment and capital campaign fund management
• In-kind donation valuation and recording
• Proper revenue recognition timing

This specialized expertise ensures compliance with donor intentions and accounting standards while providing meaningful financial insights.

Audit and Form 990 preparation

Professional accounting partners dramatically reduce the stress of annual compliance requirements:

• Preparation of audit-ready financial packages
• Supporting documentation organization
• Audit schedule preparation
• Form 990/990-EZ/990-N preparation
• Management of auditor relationships

Organizations with professional support report 40-50% reductions in audit preparation time and significant cost savings on audit fees.

Strategic financial planning

Advanced accounting services extend beyond compliance to support organizational growth:

• Budget development aligned with strategic plans
• Cash flow projections and management
• Financial scenario modeling
• Revenue diversification planning
• Risk assessment and mitigation strategies

This forward-looking approach transforms financial management from a necessary administrative function into a strategic asset driving mission impact.

The ROI of Outsourced Nonprofit Financial Services

Investing in professional bookkeeping and accounting services delivers measurable returns for nonprofit organizations through cost efficiency, operational improvements, and enhanced mission capacity.

Financial impact

The economic case for outsourced financial services is compelling:

• 40-50% cost savings compared to hiring equivalent in-house staff
• Reduced audit fees through proper preparation
• Decreased risk of costly compliance penalties
• Lower insurance premiums through improved internal controls
• Minimized revenue leakage through systematic processing

For most nonprofits, outsourcing represents significantly greater expertise at lower total cost than attempting to build internal capacity.

Operational benefits

Beyond direct cost savings, outsourced accounting improves organizational function:

• Consistent financial processes regardless of staff turnover
• Access to advanced software without capital investment
• Scalable support during peak periods (year-end, grant cycles)
• Reduced administrative burden on program staff
• More reliable financial data for decision-making

DignityMoves, a homelessness solutions nonprofit, illustrates these benefits. After partnering with specialized financial services, they streamlined operations, achieved clean audits, and scaled nationally—all without expanding their administrative team.

Mission enhancement

The ultimate ROI comes through increased mission capacity:

• Staff redirection from administrative tasks to program delivery
• Enhanced donor confidence through professional financial management
• Improved grant competitiveness with better financial reporting
• Strategic resource allocation based on program performance data
• Leadership focus shift from financial troubleshooting to mission advancement

The $4M-budget nonprofit documented by the Indiana Nonprofit Resource Network demonstrates this impact. Facing potential closure after financial mismanagement, they implemented professional accounting oversight, rebuilt donor trust, and successfully continued their community services.

Selecting the Right Financial Service Provider

Finding the ideal partner for your nonprofit’s financial needs requires careful evaluation of expertise, service models, and cultural fit.

Nonprofit-specific expertise

When evaluating potential providers, prioritize nonprofit specialization:

• Experience with organizations of similar size and complexity
• Understanding of your specific subsector (education, healthcare, arts)
• Familiarity with your funding sources (government grants, foundations)
• Knowledge of relevant regulatory requirements
• Staff certified in nonprofit accounting

General accounting firms often lack the specialized knowledge needed for complex nonprofit financial management.

Service model considerations

Different service approaches offer varying benefits:

• Full-service outsourcing (all bookkeeping and accounting functions)
• Hybrid models (supplementing internal staff with specialized expertise)
• Virtual CFO services (periodic strategic financial guidance)
• Software-supported services (technology plus professional oversight)
• Training and system development (building internal capacity)

The ideal approach depends on your organization’s size, complexity, and internal capabilities.

Implementation process

Understand how the transition will work before committing:

• Initial assessment methodology
• Timeline for implementation
• Staff training requirements
• Communication protocols
• Performance measurement standards

The most successful partnerships begin with clear expectations and systematic implementation plans.

Implementing Best Practices for Nonprofit Financial Management

Regardless of who handles your accounting, following established best practices enhances financial health and mission impact.

Documentation and policies

Strong financial management starts with clear documentation:

• Written financial policies and procedures
• Documented approval hierarchies
• Regular policy reviews and updates
• Clear role definitions and separations of duties
• Systematic record retention practices

These foundations create consistency and reduce dependency on specific individuals.

Technology integration

Modern financial technology dramatically improves efficiency:

• Cloud-based accounting systems with nonprofit-specific features
• Digital payment processing with proper controls
• Automated expense reporting and approval workflows
• Integrated donor management systems
• Real-time dashboard reporting

The evolution from manual ledgers to today’s specialized nonprofit software mirrors the historical impact of double-entry bookkeeping in 15th-century Italy—both revolutionized financial transparency and accountability.

Continuous improvement

Financial management should evolve with your organization:

• Regular process reviews and refinements
• Staff training on financial literacy
• Incorporation of audit recommendations
• Adaptation to changing regulations
• Benchmarking against peer organizations

Leading nonprofits treat financial management as an ongoing development process rather than a static compliance function.

Making the Transition to Professional Financial Services

Moving from internal bookkeeping to professional services requires thoughtful planning and communication to maximize benefits while minimizing disruption.

Assessment and planning

Begin with a comprehensive evaluation of current systems:

• Financial health assessment to identify immediate issues
• Documentation of existing processes and workflows
• Review of compliance history and upcoming deadlines
• Inventory of current software and systems
• Identification of key stakeholders and their needs

This foundation ensures the transition addresses real organizational needs rather than generic solutions.

Implementation phases

A phased approach typically delivers the best results:

1. Stabilize immediate compliance and reporting issues
2. Establish consistent monthly processing routines
3. Develop enhanced reporting systems
4. Implement advanced planning and analytical tools
5. Train staff on utilizing financial information effectively

This approach delivers immediate relief while building toward strategic capabilities.

Change management

Successfully transitioning requires thoughtful communication:

• Clear explanation of benefits to all stakeholders
• Involvement of key staff in transition planning
• Celebration of early wins and improvements
• Regular progress updates to leadership and board
• Solicitation of feedback throughout the process

Following these nonprofit accounting tips ensures your organization realizes the full potential of professional financial services.

Final Thoughts: Financial Management as Mission Enablement

Strong financial management isn’t about constraining your nonprofit with bureaucracy—it’s about creating the financial clarity and stability that powers your mission forward. By implementing professional bookkeeping and accounting services, you transform financial management from an administrative burden into a strategic asset.

I’ve witnessed countless nonprofits dramatically expand their impact after getting their financial house in order. With specialized expertise, you can redirect valuable time from administrative headaches to program delivery, build donor confidence through transparency, and make more informed strategic decisions that advance your cause.

Ready to transform your nonprofit’s financial management? Connect with our team at Complete Controller to explore affordable nonprofit bookkeeping services tailored to your organization’s unique needs. We’ll help you build the financial foundation that empowers your mission for years to come.

FAQ

What makes nonprofit accounting different from business accounting?

Nonprofit accounting requires fund accounting to track restricted donations separately, focuses on mission advancement rather than profit, follows distinct financial statement formats (Statement of Activities vs. Income Statement), requires Form 990 instead of tax returns, and must allocate expenses by program, administrative, and fundraising categories for reporting transparency.

How much should our nonprofit budget for outsourced accounting services?

Most nonprofits save 40-50% by outsourcing compared to hiring equivalent in-house staff. Pricing typically ranges from $1,000-5,000 monthly depending on organization size, transaction volume, and service level. Many providers offer tiered packages that allow organizations to start with basic compliance services and add strategic support as needs evolve.

Does outsourcing accounting mean we’ll lose financial control of our organization?

No—professionally structured outsourcing actually enhances control through improved reporting, stronger internal controls, and greater financial visibility. The best partnerships establish clear roles, with your leadership maintaining decision-making authority while gaining more reliable information. Regular communication protocols and customized reporting ensure you remain fully informed about your financial position.

What’s the best accounting software for nonprofits?

The ideal software depends on your size and complexity. Small nonprofits often succeed with QuickBooks Online with nonprofit configuration, while mid-sized organizations may benefit from purpose-built systems like Aplos or Sage Intacct for Nonprofits. The most important factor is proper setup with a chart of accounts structured for fund accounting and nonprofit-specific reporting.

How can we maintain IRS compliance for nonprofits while focusing on our mission?

Partner with accounting professionals who specialize in nonprofit compliance, implement a calendar of filing deadlines with automatic reminders, maintain clear documentation of board decisions affecting finances, establish policies for tracking restricted funds, and schedule quarterly compliance reviews. Professional support dramatically reduces compliance burdens while minimizing risks.

Sources

1. The Charity CFO. “Benefits of Having Nonprofit Accounting Services.” March 2021.
2. 501c3.org. “Should Your Nonprofit Outsource Its Bookkeeping Needs?” May 2023.
3. L-W Consulting. “Benefits of Outsourcing Accounting & Bookkeeping for NonProfits.” May 2023.
4. Good Steward Financial Co. “How Nonprofit Bookkeeping Services Can Help Your Organization Thrive.”
5. The Charity CFO. “Nonprofit Accounting Services: The Right Solution.” November 2022.
6. Jitasa Group. “Nonprofit Financial Management: Overview + Best Practices.” August 2024.
7. 501c3.org. “The Best Guide to Bookkeeping for Nonprofits.” August 2023.
8. Hangroup LLC. “Why Nonprofits Should Outsource Accounting.”
9. FORVIS Mazars. “2025 State of the Nonprofit Sector Report.” March 2025.
10. NFP Partners. “Breaking Down the Costs of Outsourced Nonprofit Accounting.” February 2020.
11. Lee, D. “The Genesis of Double Entry Bookkeeping.” The Accounting Review. January 2016.
12. Indiana Nonprofit Resource Network. “Case Study: A Nonprofit’s Financial Crisis and Accountability Turnaround.” 2013.
13. Jitasa. “Success Stories: DignityMoves.” 2024.

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.

While recording your total daily sales in QuickBooks online, first, you must find out how to register your total daily sales in this QuickBooks using just a single sales receipt. You can enter a single sales received to report your daily sales in QuickBooks. Using a separate point-of-sale system, you can enter that received and report your daily deals in QuickBooks. It means that you do not have invoice customers. An advantage of these steps is that they save time while keeping your income reports accurate and without any mistakes. There are different steps in recording your total daily sales in QuickBooks online. A lot of step-by-step guide professionals to help you, and they will guide you on how to get started.

Step 1: Creating Customers for Daily Sale

On the end-of-day sales receipt, you can use a customer account only. In this case, there are several steps involved. There is a left menu, and there are several options. First, you must select sales. After selecting deals, there is an option known as customers. There are distinct types of customers given the possibility of customers, and from there, you can choose a new customer. After selecting a new customer, enter daily sales. And after doing all these steps, the last option is to save; choose save.

Step 2: Creating an Account for Daily Sales

After creating customers for daily sales, ensure that it sets upright because it will help you report your income accurately. There are several steps in setting up your daily sales account. There is an option in the toolbar that is known as gear. To select the equipment, and after selecting gear, choose a chart of funds under the choice of your company. Select the new one that is on the top right of your icons. And set up all your accounts, including daily sales income, clearing history, and underage agent expenses. Also, give the category type or account types of names, such as income, cash equivalents, and costs. Remember to mention detail type, for example, other primary income or sales of product income, bank or cash on hand, and other business expenses. For description, you must mention several things, such as for what purpose you have created that I can track daily sales, forty balance accounts for daily deals, or four drawer shortages.

Step 3: Selection of Items for Daily Sale

There is also a need to keep your items organized, and to keep them organized; you must set up a category named daily sales. There are several steps involved in this action. First, in the toolbar, select the gear icon. There is an option that is known as lists. Choose all lists. Various categories are there; you must select product categories. Then choose the new types that are on the top right. Rename that category that is a new category, name it as, and then save it. After you have created and saved the type, there are a few following items. Select the toolbar and open-gear icon. Their full stops there are products and services given under the lists. Select From the transaction type, there are different options for receipt, and you must choose sales receipt. Then name it as dairy sales and find out which kind of types are given. There may be two scheduled and unscheduled types, then choose unscheduled. And set up all these items that are in products and services.

Step 4: Recording Daily Sales Template

You will need a daily sales template whenever you must record total daily sales. For this action, you must open the gear icon in the toolbar. And there is an option known as recurring transactions under the lists. Then select different items such as visa or MasterCard, check, cash, overage or underage, daily sales income, American Express, etc., and save.

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

Mastering Accounting in the Banking Sector for Success

Banking sector accounting involves specialized financial practices and regulatory frameworks that banks use to maintain accurate records, meet compliance standards, and drive strategic decisions. This unique accounting discipline requires mastery of complex financial instruments, strict regulatory requirements, and advanced analytical capabilities that distinguish it from traditional corporate accounting.

As the founder of Complete Controller, I’ve spent over two decades watching banking professionals transform their careers through strategic accounting expertise. When I first started working with financial institutions, the gap between basic accounting knowledge and banking-specific proficiency was staggering. Today’s banking environment demands even more—with digital transformation, evolving regulations, and sophisticated risk management creating both challenges and opportunities. I’ll share the essential skills, proven strategies, and real-world insights that separate successful banking accountants from the rest.

What is banking sector accounting, and how can you master it for success?

• Banking sector accounting encompasses specialized financial management practices unique to banks and financial institutions, including complex instrument valuation, regulatory reporting, and risk-based capital calculations
• Technical mastery requires proficiency in bank-specific financial statements, reconciliation processes, and regulatory frameworks like Basel III
• Career advancement depends on continuous skill development, industry certifications, and adapting to technological innovations
• Real-world application involves balancing accuracy with efficiency while managing billions in daily transactions
• Success metrics include reduced reconciliation errors, faster closing cycles, and enhanced regulatory compliance scores

Core Accounting Skills for Banking Professionals

The foundation of banking sector finance rests on a unique combination of technical expertise and analytical capabilities. Modern bank accountants manage far more than traditional ledgers—they navigate complex derivative instruments, monitor real-time risk exposures, and maintain compliance across multiple regulatory jurisdictions.

Technical proficiency starts with mastering bank-specific accounting standards. Where corporate accountants deal with inventory and manufacturing costs, banking professionals handle loan loss provisions, trading securities valuations, and tier-based capital calculations. The average bank accountant now earns $90,000 annually, with top performers exceeding $94,500—reflecting the specialized knowledge required in this field.

The critical role of precision in banking operations

Banking accounting tolerates zero margin for error. A single misplaced decimal in interest calculations can cascade into millions in losses or regulatory penalties. This precision extends beyond numbers to understanding the interconnected nature of banking transactions.

Daily reconciliation processes exemplify this need for accuracy. Banks process thousands of transactions every hour, each requiring proper classification, risk assessment, and regulatory tagging. Attention to detail becomes a survival skill when managing:

• Wire transfers across international borders
• Complex derivative positions requiring mark-to-market valuations
• Regulatory capital calculations affecting lending capacity
• Customer account balances impacting FDIC insurance assessments

Analytical capabilities that drive strategic value

Banking accountants who advance their careers develop sophisticated analytical skills beyond basic number-crunching. They interpret financial data to identify trends, assess risk concentrations, and recommend strategic adjustments.

Modern banking analysis requires understanding how macroeconomic factors impact portfolio performance. Interest rate movements, credit cycles, and regulatory changes all flow through to the financial statements. Successful professionals translate these complex relationships into actionable insights for executive decision-making.

Understanding Banking-Specific Financial Statements

Financial reporting in banking follows fundamentally different principles than other industries. Banks operate as financial intermediaries, with assets and liabilities structured around money flows rather than physical goods or services.

The banking balance sheet reverses traditional corporate thinking. Customer deposits appear as liabilities—the bank owes this money back. Loans represent assets—future cash flows the bank expects to receive. This inverted perspective shapes every aspect of banking financial statements.

Navigating the unique structure of bank financial reports

A bank’s income statement centers on net interest income—the spread between interest earned on loans and interest paid on deposits. Non-interest income from fees, trading, and services provides the secondary revenue stream. Operating expenses focus heavily on personnel costs and technology infrastructure rather than raw materials or manufacturing.

Key components of banking financial statements include:

• Net interest margin analysis showing profitability trends
• Provision for credit losses indicating risk management effectiveness
• Fee income ratios demonstrating revenue diversification
• Efficiency ratios measuring operational performance
• Capital adequacy metrics ensuring regulatory compliance

Cash flow dynamics in banking operations

Banking cash flows operate differently than traditional businesses. Banks create money through lending, with cash flow statements reflecting this unique economic function. Operating activities include interest receipts and payments, while investing activities focus on securities portfolios and loan originations.

Understanding these cash flow patterns helps accountants identify liquidity risks and funding mismatches. The 2023 regional banking crisis demonstrated how poor cash flow management can trigger institutional failure within days.

Bank Reconciliation Excellence

Bank reconciliation forms the backbone of accounting accuracy in financial institutions. Unlike corporate reconciliations matching internal records to bank statements, banks reconcile multiple systems processing millions of daily transactions.

Modern reconciliation extends beyond cash accounts to encompass trading positions, customer deposits, interbank settlements, and regulatory reporting. A regional bank case study from 2024 showed how automated reconciliation tools reduced monthly processing time from 80 hours to 22 hours, saving $75,000 annually while eliminating 85% of manual errors.

Implementing advanced reconciliation methodologies

The four-column reconciliation method has become the gold standard for banking operations. This approach tracks beginning balances, additions, subtractions, and ending balances across multiple systems simultaneously. By comparing these columns, accountants quickly identify discrepancies requiring investigation.

Best practices for banking reconciliation include:

• Daily reconciliation of high-value accounts and trading positions
• Automated exception reporting for variances exceeding thresholds
• Clear documentation trails for audit purposes
• Segregation of duties between recording and reconciling functions
• Regular training updates as systems and regulations evolve

Regulatory Compliance and Accounting Standards

Banking sector accounting operates under intense regulatory scrutiny. Multiple agencies oversee different aspects of operations—the Federal Reserve monitors systemic risk, the FDIC protects depositors, and the OCC supervises national banks. Each agency requires specific reports with precise accounting treatments.

Generally Accepted Accounting Principles (GAAP) provides the foundation, but banks face additional requirements. Basel III capital standards dictate how banks calculate risk-weighted assets. The Current Expected Credit Loss (CECL) standard transformed how banks recognize loan losses. Staying current with these evolving requirements demands continuous professional development.

Technology transformation in banking accounting

Digital innovation reshapes banking accounting practices daily. Cloud-based platforms now process transactions that once required mainframe computers. Artificial intelligence identifies patterns humans might miss. Blockchain technology promises to revolutionize transaction verification and settlement processes.

Recent studies show 72% of finance leaders have integrated AI into their operations, particularly for fraud detection and risk management. Banks using cloud-based accounting software report 70% cost reductions and 85% fewer reconciliation errors. Yet adoption varies—top-tier banks implement new technologies at twice the speed of regional competitors, creating a widening performance gap.

Building Your Banking Accounting Career

Career progression in banking accounting follows predictable patterns with exceptional rewards for those who excel. Entry-level positions typically require a bachelor’s degree in accounting or finance. The CPA designation opens senior opportunities, while specialized certifications like the Certified Bank Auditor demonstrate industry expertise.

Salary growth reflects increasing complexity—accountants earned a median $61,690 in 2010 versus $81,680 in 2024, a 32% increase outpacing general inflation. Banking accountants command premiums above these averages due to specialized knowledge requirements.

I’ve watched countless professionals advance from junior roles to senior leadership by focusing on three areas: technical excellence, relationship building, and strategic thinking. The most successful banking accountants position themselves as business partners, not just number processors.

Final Thoughts

Banking sector accounting offers a challenging yet rewarding career path for those willing to master its complexities. The combination of technical precision, regulatory knowledge, and analytical insight creates professionals capable of significant organizational impact.

Success requires continuous learning as regulations evolve and technology advances. Those who embrace this dynamic environment find themselves at the forefront of financial innovation. Start building your expertise today—the banking sector needs skilled accountants who can navigate tomorrow’s challenges.

Ready to accelerate your banking accounting career? Visit Complete Controller for expert guidance, industry-leading resources, and personalized strategies to master banking sector accounting.

Frequently Asked Questions About Banking Sector Accounting

What education and certifications are most valuable for banking accountants?

A bachelor’s degree in accounting or finance provides the foundation, with CPA certification highly valued by employers. Specialized certifications like Certified Bank Auditor (CBA) or Certified Regulatory Compliance Manager (CRCM) demonstrate industry expertise and typically lead to higher salaries and advancement opportunities.

How does banking accounting differ from regular corporate accounting?

Banking accounting focuses on financial instruments rather than physical goods, with deposits recorded as liabilities and loans as assets. Banks follow additional regulatory requirements including Basel III capital standards and CECL provisions, requiring specialized knowledge beyond standard GAAP principles.

What technology skills do modern banking accountants need?

Proficiency in specialized banking software, data analytics platforms, and automated reconciliation tools is essential. Understanding AI applications for fraud detection and risk management, plus familiarity with emerging technologies like blockchain, provides competitive advantages in the evolving financial landscape.

Why is daily reconciliation critical in banking operations?

Banks process thousands of transactions hourly across multiple systems and currencies. Daily reconciliation prevents small errors from compounding into significant losses, maintains regulatory compliance, and protects against fraud. Delayed reconciliation can mask operational problems until they become crisis-level issues.

What are the main regulatory challenges facing banking accountants today?

Banking accountants navigate multiple regulatory frameworks including Basel III capital requirements, CECL provisioning standards, and anti-money laundering regulations. Keeping current with frequent regulatory updates while maintaining operational efficiency requires continuous education and robust compliance systems.

Sources

• Becker.com. “Bank Accounting.” 2024. www.becker.com/bank-accounting
• Zippia.com. “15 Bank Accountant Skills For Your Resume.” 2025. www.zippia.com/bank-accountant-skills
• Washington State Auditor’s Office. “Best Practices for Bank Reconciliations.” 2023. sao.wa.gov/best-practices-bank-reconciliations
• ZipRecruiter. “Bank Accountant Salary.” July 2025. www.ziprecruiter.com/Salaries/Bank-Accountant-Salary
• PYMNTS.com. “72% of Finance Leaders Use AI in Their Operations.” September 2024. www.pymnts.com/artificial-intelligence-2/2024/72percent-of-finance-leaders-use-ai-in-their-operations
• Validat. “Case Study: A Bank’s Journey to Reconciliation Efficiency.” April 2024. www.validat.co.uk/post/case-study-a-banks-journey-to-reconciliation-efficiency
• Bureau of Labor Statistics. “Occupational Employment and Wages in 2010.” December 2022. www.bls.gov/oes/highlight2010table7.htm
• Market Research Intellect. “Navigating Financial Complexity: The Growing Demand for Bank Accounting Software.” November 2024. www.marketresearchintellect.com/blog/navigating-financial-complexity
• Tearsheet.co. “The Banking AI Adoption Gap.” April 2025. tearsheet.co/artificial-intelligence/the-banking-ai-adoption-gap
• Complete Controller. “Bank Reconciliation Tools.” May 2025. completecontroller.com/bank-reconciliation-tools
• Complete Controller. “Accounting for the Banking Sector.” 2023. completecontroller.com/banking-sector-accounting
• Investopedia. “Bank Statement Definition.” 2024. www.investopedia.com/terms/b/bank-statement.asp
• Wikipedia. “Generally Accepted Accounting Principles.” 2024. en.wikipedia.org/wiki/Generallyacceptedaccounting_principles
• Wikipedia. “Blockchain.” 2024. en.wikipedia.org/wiki/Blockchain

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.

Accounting is the process of recording financial statements and records, as accounting is a highly demanded opportunity. The value of accountants is rapidly increasing. New accountants must have skills like business knowledge and proficiency, oral and written communication skills, management of financial budget, and time most crucial, time management.

As there are many job opportunities for an accountant in different accounting fields, I discuss the top 3 Accounting Careers for new accountants.

• IT consultant
• Auditor
• Financial Examiner

IT Consultant

Accounting technology is a versatile technology, and in accounting, technology plays an essential role.

As part of the global world now, every field requires digital marketing and IT. IT professionals with exceptional knowledge are necessary for accounting systems. IT consultants must know about digital accounting processes and the management of account clouds. It is also essential for Its consultants to understand how to share the data with accounting systems and communication skills. IT knowledge is further related to many other fields of an accountant, like Customer relationship management (CRM).

IT consultant or accounting consultant’s most familiar work in this field is preparing financial statements, analyzing economic data, and advertising the finance issue. These consultants also help in the services of business as an employee of accountant consultants. Some similar jobs related to IT professionals are business managers and account advisors.

According to an estimate, the average salary of an accountant consultant is $129,000 per year, which further increases with time with experience.

Auditor

The auditor notices the financial record of the company as well as checks the accuracy too. The most common responsibility is to examine and organize the financial statement, ensuring tax filing time and management. Accountants in this category are highly paid workers in this field. The estimation of the average salary of an auditor in accounting is about $76,000, which further increases with professional experience.

Many types of auditors exist, including budget analysts, financial analysts, personal financial advisors, financial managers, and management analysts. Some of the most important duties that the auditor in accounting performs are examining the financial statement, preparing tax returns, updating company financial records, and giving ideas on reducing costs and increasing profit.

Different careers opportunity for the auditor is both in the government and private sectors as managing auditor to manage the financial statements of that sectors. It includes finance, insurance, accountancy, tax management, payroll services, etc. Top companies for auditor positions include ICIC Group, L & T Finances, Deloitte, PWC, KPMG, and many others.

Financial Examiner

The career of Finance Examiner, which is also commonly referred to as Bank Examiner, is a highly sought-after path for those entering the accounting profession. Individuals in this role are employed by the Federal Deposit Insurance Corporation and are tasked with monitoring the financial health of banks. This involves conducting thorough reviews of balance sheets, preparing detailed reports, and analyzing new regulations as they are introduced. This field presents a range of exciting opportunities for new accountants, including roles such as Bank Compliance Officer, Payroll Examiner, Pension Examiner, and Financial Compliance Examiner, among others. Overall, the position of Finance Examiner offers a challenging yet rewarding career path for those interested in the world of finance and accounting.

The banking industry offers a variety of entry-level positions, with the most common being that of a Bank Examiner. A Bank Examiner’s primary responsibility is to ensure that bank facilities are up to standard, loans are being properly assessed, audits are carried out regularly, and bank assets are analyzed accurately. To excel in this role, a candidate should have a solid understanding of finance, excellent communication skills, and be familiar with bank procedures. As per estimates, the average annual salary for this position is around $81,000. It’s worth noting that job opportunities are available in both the private and public sectors and with experience, there is room for growth and advancement in this field.

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 e-commerce industry has observed a significant boom around the globe. Especially after the covid-19 hit the world, e-commerce business began to escalate to the height of success. Now people prefer online shopping over the traditional way of buying products. At the time, online shopping was considered a convenience or luxury, but now it has become necessary.

Business tycoons now understand the importance of updating their business to the digital marketplace. As a businessperson, be it a small business or a large brand – you must be willing to jump into the online realm. But the question is, how? This blog will shed light on the step-by-step guidelines to start your online business from scratch.

How to Start an e-Commerce Business

Nothing is more rewarding than starting your own business from zero and watching it achieve each threshold. You put effort into building your business, and no one can take it back.

Starting an e-commerce business is not limited to choosing the brand name, preparing product listings, and creating selling online. It requires some significant concerns. The best business ideas can fail if you don’t stimulate traffic to your site. Here are some essential steps that you need to follow to initiate your e-commerce business.

Step 1 – Understand online business models

Research is the first and foremost step in building a business. Please don’t take it lightly. Building an e-commerce business is an investment. So, treat it as such. Before you decide to sell something online, it’s essential to understand the variety of business models. Although researching is not rocket science, it can still leave a strong impact.

You can run your online business based on several models. You want to profit without touching your products or investing a heavy amount. In such a scenario, dropshipping or print-on-demand can be the best choice.

You can also go for owning a warehouse full of goodies. It would be best if you had a heavy investment in this model. Once you know the diverging genres, you can decide on the best option.

Step 2 – Begin e-commerce niche research

An e-commerce site with hundreds of products and dozens of categories cannot result in a practical impact. You need to niche down your products to begin a profitable online store. Remember that you can’t be the next Amazon unless you have a significant investment.

Start with less and grow gradually. Don’t pick the niche that big brands highly dominate. The more specific you are, the fewer competitors you’ll face. When selecting a product category, pick a minimum of 1000 keywords. Make sure the niche you choose works well on social media.

Step 3 – Know your target audience

Now that you know your business model and particular niche, finding your target audience is essential. It’s not possible to market to everyone. Marketing on every demographic is costly and a waste of time.

Therefore, it’s better to identify the target audience interested in your products. Fortunately, Facebook and several other social media tools allow you to segment your audience and target accordingly.

Step 4 – Choose a brand name and register your business

As a business person, you need a brand that connects with your persona. It would be best if you created a brand for your digital store. Once you finish with the initial stages, you need to step forward by creating a brand.

Choose a name that fits your persona and the nature of the business. Make sure whatever name you choose should relate to your niche. Keep in mind; picking your store’s name is part of planning. You probably don’t want to do it at the last minute.

Creating a brand is more than choosing a name. You need to do enormous tasks at this stage, such as registering your business, designing a logo, finding the right vendors, and creating the visual elements for your website.

Step 5 – Create an online store

As you complete all the essential steps, creating an online store is time. It’s time to develop a site and generate a URL to reach your digital shop. Make sure your website is user-friendly. People won’t make purchasing decisions if they’re unable to load the pages. Most people use mobile. So, it’s one of the crucial factors to keep your site mobile-friendly.

The Bottom Line

Starting an e-commerce business requires proper planning. All you need to do is begin with essential research.

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.