CFO vs Controller Services
NEW episode of the Life First Accounting Firm podcast this week:
S1E4 Starting Stories: Coming From a Non-Accounting Background w. Steve Nay
Check out episodes on Apple Podcasts, Spotify, YouTube, or anywhere else you listen to podcasts!
Free CPE Now Available on Earmark!
Last week, fellow subscriber Lori Yearwood, CPA asked this question and I think the answer is worth sharing more broadly…
(Shared with Lori’s permission - thanks for the question, Lori!)
Curious – what types of services are you providing to clients that you would consider CFO type services?
Where I’m coming from on this – I’m in the non-profit space, and I’ve never sold my services as CFO services because I’ve always considered myself more of the Controller type than a CFO. I do A TON of book clean up and trying to teach people what their books are supposed to look like and why the information contained in them is important instead of true CFO work that I would consider more strategic in nature. Most of the clients I work with don’t fully understand what the numbers on a financial statement even mean, so it’s hard to even get them to comprehend what a CFO would do. Any thoughts or suggestions on this?
Great question!
I think Controller vs CFO services are two very different offerings.
There are nuances around how people define each in our industry, but broadly speaking, I think of it like this:
CFO Services: monthly or project-based work that includes forward-looking advice. This could include, but is not limited to: 12-month cashflow forecasting, 13-week cashflow forecasting, annual budgeting, hiring strategy, debt structuring, reduction-in-force (aka layoff) planning, maybe even profitability-by-product analysis as it relates to future strategy
Controller Services: monthly or project-based work that covers: day-to-day or week-to-week accounting/bookkeeping, the month-end close process, monthly or weekly reporting (which could include the profitability-by-product analysis or spend-by-grant reporting, in your clients’ case), and possibly internal controls recommendations or oversight.
For me, specifically, I offer CFO Services that also include Controller Services - and it’s priced with that in mind.
Frankly, I don’t think our potential clients know the difference between “CFO” and “Controller”, which is one reason why so many marketing gurus suggest wording on your website like:
“Get out of QBO once and for all”
“Unsure if you’re able to make your next big hire? I can help!”
“Be ready the next time your Board of Directors asks for reporting at the drop of a hat.”
It’s probably still a good idea to use “CFO” or “Controller” verbiage on your website in the case that your future client knows what they’re Googling for (which will likely be the case with larger prospective clients), but what’s most important is being able to communicate the problem you solve to the person with the problem.
It sounds like you’re providing Controller services - which is what your clients need right now! There’s always potential to get your current clients to a great place, then offer to “graduate” them to the next level of CFO Service.
But (and this is a big but)…only if you want to.
If Controller Services spark joy for you and are your bread and butter, you are welcome to live in that space and only that space.
Permission to build the accounting firm of your choice.
Hope this helps!,
Erica
PS - Always feel free to hit reply and ask questions. Replies come straight to human-me, not a 🤖 (no offense to 🤖s)
What’s Happening in Aligned
Recently Added to the Video Library:
Financial Cents: Demo + Discussion [4.9.26] (practice management & close software)
Roundtable: Emergency / Succession Planning for Solo Firm Owners
Tue, May 12th - 11am MT > RSVP Here
Discussing plans if you become incapacitated or need to step away for a family emergency
Panel Discussion: Tax Scheduling
Tue, May 26th - 1pm MT > RSVP Here
Here from Aligned members that scheduled out their tax season this year
Question of the Week > Vote for the 2026 T-Shirt Design! Our annual FREE T-shirt Drop is happening in May!
Current Discussions On > insurance broker / ASC 606 clients, how to get referrals from tax accountants, Digits review, onboarding check list from Claude, client portals, pruning a whale-client and replacing with many smaller ones, and more!
Join the discussion with 170+ like-minded, non-scaling accountants / really cool humans in the link below. $75/mo, no commitment - come and go as you please :o)
Money back guarantee, if you get in there and don’t see the value. No questions asked.
More details in the link above.