It’s Monday – Back to Business. If you’re thinking about hiring an accountant, consider the types of professionals that are out there. Everything a company does or does not do translates into either a dollar or lack thereof. If you’re in the process of hiring internal accounting staff understanding the level of skill you’re getting will be helpful. Who takes care of your money and assists you in strategic decisions? Behind every successful business, is a successful accountant (just say’n).
1. Bookkeeper – AKA the bean counter
This person is clerical in nature, will keep track of your transactions and ensure everything is recorded in your books consistently. For this type of position look for someone with 1-3 years of clerical experience or an Associates’s degree in Accounting. If you’re struggling to fill this position you might need to hire raw talent and train.
2. Accountant – AKA the reporter
This person will present your past financial results accurately to you and external users (bank, investors, etc.). For this type of position, look for someone with 3-8 years of experience with a Bachelors’s degree in Accounting. Some times, this person might need to manage other staff. Ensure your new hire has soft skills!
3. Chief Financial Officer – AKA the translator
This person is forward-thinking and will help you interpret your numbers into goals for the future through projections and execution of projects. For this type of position, look for someone with 8-15 years of experience with a Masters in Business or Certified Public Accountant license. This person will be heading the accounting/finance department so they need to be a leader.
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None of these individuals should do your taxes, if you need tax advice, hire a CPA. Your internal books will not be the same as your tax filing numbers! However, you need a set of good books to back up your tax returns, especially if you are audited. Hiring internal accounting staff can be confusing, hopefully, these definitions help clarify exactly what you’re looking for. Every circumstance is different, comment for clarification. Cheers to an awesome week ahead.
By Stacy Saenz, Director of the WHH Controller Program
Stacy is a Fresno State educated MBA who has served in accounting, controller and CFO roles for several local businesses. Her unique talents and experience teach business owners to translate numbers into useful and forward-thinking business decisions. Contact her directly at StacyS@whhcpas.com
