the CFO . Accountant & Bookkeeper

When it comes to the flow of our money, there can be so many different things holding us back. So, if we really want to get clear on what may be acting as a roadblock, we need to ask ourselves some hard questions.

Understanding what we want, what we need, and most importantly, what our vision looks like, is how we get clear and carve a path forward. You can’t be the change you want to see unless you are engaged in a positive relationship with your money.

Do you have a positive relationship with your money?

If the answer is no, then it’s time.

So, I thought that I might clear the air! I thought it might be great to clarify between the different roles that are offered through Alchemy Advising.  Listed below are the key points to consider…

CFO . Chief Financial Officer

A CFO helps you look at the PAST, so that we can make plans and map out where the business is going.

Budget vs Actual – what did we say would happen vs what actually happened.  This is a critical measurement.

Key Indicators that you need a CFO:

  • If you have a few team members
  • When you have questions like, can I afford to hire someone, where is all my money
  • You are carrying debt in your business
  • You are making over $120k a year in revenue
  • When you are working with KPIs (lead cost, clv, cac, inventory turn)
  • When you are growing faster than you can keep up with.

What do they do:

  • Review what is profitable and what is not?
  • Strategic planning and decision making – this is the main role of a CFO.  
  • Reporting analysis and budgeting


This is historical data.  Responsible for ensuring the transactions for revenue and expense are entered correctly so that you have detailed, accurate financial records for your business.  People usually begin by doing this themselves and then it becomes a bigger job.

You want the bookkeeper to know your business – your industry.  They need to understand where your money comes from and how you spend it so that they can create data that you can use.

They should be able to provide timely financial statements.  You may want these monthly, or you may want them quarterly.  At least every quarter you should have the statements, at minimum.  Why do you need these, because you need an overview of how your business is doing so that you can make decisions based on facts.

Reports to receive:

  • Profit and Loss – what is the bottom line.  What money came in?  What went out?
  • Balance Sheet – what are the reconciled balances in your business?  
  • AR – money that is owed to you
  • AP – money you owe to others

The belief that you need to wait to hire a bookkeeper until after you have your shit together.  THIS is why you need to hire a bookkeeper.  They are the expert, they can handle the shit show.  It’s the reason they exist!  There is no shame in this.  It’s just organization!


You need an accountant when your business is becoming more complex, your making more money, you may need to shift structure (sole prop to incorporation).  Accountants specifically serve you in the tax preparation, both as a sole prop or incorporation.  There are also specialist accountants – those who specialize in things like cross border business structures, intercompany, international tax strategy.

Your given financial statements.  Now what?  It can be intimidating and sometimes confusing to get reports from your bookkeeper or accountant and you have no idea what this information is telling you.  

One Time CFO Consultation & Strategy Session:  a deep dive into your business financial statements so that you have an understanding of what is going on in your business, how much money your making, or not making, and some suggestions of how to improve your situation.

Monthly retainer CFO:  available every month to the business owner.

.Join the Vault. 




By | 2018-07-11T00:18:44+00:00 July 11th, 2018|Conscious Business, Money Rockstar|0 Comments