What is a Virtual Controller
A virtual controller provides help with Running Your Business and Improving your Accounting Systems
Controllers provide part time, interim, and project-based financial expertise. TeenaMaries provides controller services to small and medium-sized Federal Contractors. In general, the work is focused on establishing and managing a smoothly running accounting department, and the preparation of accurate, useful, and timely financial reports to management, surety, and other financial partners. TeenaMaries also provides experienced consulting to set up accounting departments, or support existing accounting functions by assessing and improving their operations and systems. Experienced controllers have the skills to quickly identify and implement best practices for your organization. The value to you is having someone who has truly “been there before” and can navigate through the implementation or improvement process as efficiently as possible.
Listed below are just some of the customizable services Teena Marie can offer you. To discuss your specific needs, please contact me.
Controller Services for Federal Contractors
Job Costing and Accounting Operations
- Start-up and Emerging Company Support: Financial discipline and controls that really work
- Appropriate procedures and processes, budgets and projection that help you plan for the future
- Accounting Department Management: Ongoing, experienced help with procedures, reports, people management, and accounting issues
- Creation or improvement of your monthly closing checklist
- Support, leadership, and/or performance of daily accounting activities including A/P, A/R, payroll, and job costing.
- Coordination with outside vendors (banks, sureties, insurance, CPAs, etc.)
- What’s the purpose of the WIP, relationship to bonding capacity
- How does the WIP report come together
- A thorough review of the WIP process
- Process improvements, implementation and guidelines
- Why does the WIP need Project Managers
- Clarifying cost-to-complete and earned revenue-vs-income
- Understanding over billings-vs-under billings and the relationship to Financial Statements
- System selection process 3rd party tools
- Mentoring, Coaching and Training on best practices where needed
- Mentoring and coaching for your current accounting department
- Training on best practices where needed
System and Process Assessment
- Review and analysis of financial systems, practices, and staff; and recommendations for improvement
- Process improvements, implementation, and guides
- Accounting system selection and add-on selection process (3rd party tools)
- System implementation
- Data conversion assistance, including testing of data, and consulting and implementation for data structure changes including chart of account changes
- Training: one-on-one training, group training
- Custom report writing
My name is Teena Marie and I have more than 20 years’ experience in construction and government accounting. My focus is supporting the needs of federal contractors that pursue opportunities set aside for small business.
Federal contractors must bond most projects. My area of specialization is helping small and medium sized businesses implement accounting processes that produce accurate financial statements and Work-in-Progress (WIP) reports that are key to obtaining maximum bonding capacity.
I have successfully planned and implemented financial systems using the latest technology for construction accounting, job costing, WIP reporting, project financial analysis and Cost-to-Complete analysis for active projects.
My clients include businesses that qualify for Service Disabled, Veteran Owned Small Business (SDVOSB), 8(a), HubZone, and Woman-Owned Small Businesses (WOSB) awards.