You should be using “subject matter experts” that do not have a conflict of interest. Don’t be fooled by the convenience of “one-stop shopping” when it comes to your Trusted Advisors (aka subject matter experts). I like to have bookkeeping done in-house or by an “expert” Bookkeeper.  Consider having this as a separate service from your CPA, who is your Tax Expert, or if you are working with a robust accounting firm, ensure your services come from different divisions or departments.

The third subject matter expert you need is someone to cover payroll. This can be an in-house person or a company. If you are outsourcing, consider that a payroll company is much more regulated than a CPA or bookkeeper who offers the service on the side. Avoiding conflicts of interest with your Trusted Advisors can help to minimize your exposure to fraud and/ or embezzlement, and give you built in checks to ensure top performance.

If you need a cash flow subject matter expert, register for a complimentary consultation.