If you're going to create a profitable business, you're going to need an accountant. Outsourcing your books to Ignite Spot is a great option, but it's not a fit for everyone. If you decide to hire in-house, this guide will help you make the best decision possible.
We hope this video helped you make the best decision for your accounting needs. Please understand that this video was created in 2017 and the salary ranges presented for each type of accountant may fluctuate according to your local market and when you view this video.
Here's a quick summary:
- The Bookkeeper: This is your data entry specialist. Salary can fluctuate from $18,000 to $45,000 a year. This person's job is to get data into the system accurately.
- The Accountant: This person is charged with managing some of the month-end activities like journal entires and reconciliations. The salary range will run from $30,000 to $60,000.
- The Controller: This person is responsible for overseeing the accounting system and creating the monthly financial statements. Expect to pay between $45,000 to $85,000.
- The CFO: The Chief Financial Officer is a C-suite position. Things change at this level. This person has to be more than an accountant. He or she must be strong in strategic thinking. They help turn your vision as an entrepreneur into a financially possibly venture. Expect to pay between $75,000 to $250,000 for this person.
- The CPA: Your Certified Public Accountant is responsible for managing your tax strategy and, if needed, can be the auditor. Expect to pay between $125 per hour to $450 per hour.