SMB Financial Structure

02/13/2025 | Cross + Co - Insights |

As a CPA and CFO, I’ve seen firsthand how a strong financial structure can make or break an SMB. Here are five key steps to set up a solid foundation:

  1. Hire Fractional Experts: Bringing on a fractional CFO or controller can provide expert insights without the full-time cost.
  2. Organize Your Chart of Accounts (COA): Ensure your COA aligns with your business model for accurate tracking of all financial transactions.
  3. Outsource Bookkeeping: An outsourced bookkeeper can efficiently handle daily tasks, keeping your financial records accurate and up-to-date.
  4. Build a Financial Model: Develop a financial model to forecast your business performance and identify key performance indicators (KPIs).
  5. Monthly Financial Reviews: Close your books monthly, compare results to forecasts, and adjust your plans accordingly.

A well-structured financial framework isn’t just about numbers; it’s about making informed decisions that drive growth. Let’s keep moving forward together! Let’s discuss!