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Finance Director Finance Controller Bookkeeper
What they do? • Supports a business by overseeing and implementing the financial strategy
• Controls key financial matters and risk
• Supports the management team and Managing Director
• Responsible for supervising the quality of accounting and financial reporting within a business
• Records a business’s financial transactions and brings the books to the trial balance stage
The benefits? • FDs help enhance profit margins, provide strategic support and assist with business planning, funding proposals and other key areas that affect profitability and cash flow
• A good FC will deliver financial efficiency and will be able to recommend new processes and systems to achieve this
• Well-managed books have a positive knock-on effect on all levels of a business and a qualified bookkeeper will deliver accurate records and on time
Be aware… • The FD’s role is not a passive one; your business views and opinions might be challenged!
• FCs are not ‘senior managers with accounting experience’… they are financial experts and will ensure a business passes its financial health check, with robust procedures and controls put in place
• Appointing an underqualified individual to keep your books could lead to inaccurate records and penalties, and the need for expensive resource to correct any problems
FD, FC, Bookkeeper: An EFM guide to the benefits for businesses