The financial challenges that businesses face can be difficult to overcome without the right person at the helm. A fractional CFO or similarly-qualified financial consultant may deliver the results and value to help your organization succeed. Maybe a full-time financial leader does not make sense for your business or you need support while searching for the right individual. In any case, a fractional CFO or similarly qualified financial consultant may deliver the results and value required to help your organization succeed in a fiscally-healthy, responsible, and sustainable way.

What a Fractional CFO Does for Your Business

While a highly organized person may be able to step into an operational leadership position or a persistent and detail-oriented person can excel in marketing and sales, financial leadership is a unique and exceptional skillset.

Optimizing cash flow, maximizing growth and profitability, and ensuring the financial stability of an organization are just some of the essential services a fractional CFO can provide. However, a full-time CFO can be tough to justify in terms of cost or it may be difficult to find the right individual to not only make the best financial decisions for your company but also has deep knowledge of and experience in your particular industry.

Whatever the reason a full-time CFO may not make sense for you at this point in time, Encompass has consultants to provide the experience and expertise you need at a fraction of the cost of an in-house CFO.

Specialty Financial Consulting Services

As a provider of financial leadership consulting, Encompass consultants are able to strategic expertise to help you better understand and outline your financial goals, ensure your business stays on course to achieve those goals, and excel in a competitive industry.

Partnering with Encompass ensures your business will have a qualified representative leading your financial department to satisfy the most essential functions of a financial department. These services include but are not limited to:

  • Financial Strategy, Planning, and Management
  • Financial Analysis, Planning, and Forecasting
  • Financial Regulation and Compliance
  • Accounting, General Ledger, Administration, and Operations
  • Financial Management > Financial Relations and Policies
  • Cash Management – Cash Flow Analysis/Financial Position Analysis
  • Automation and Process Improvement
  • Financial Technology and Solution Evaluation
  • Financial Strategy Alignment in preparation for, as part of, or following ERP implementation
  • Report Development beyond initial Balance Sheet and Income Statement created in XLConnect
  • Booking Journal Entries as needed to record Reconciliation differences or reclassifications
  • Financial Statement preparation and review
  • Discussions regarding General Accepted Accounting Principals (GAAP)
  • Month and Year End processes
  • Clean up of old and new accounting issues
  • Account reconciliations and analysis

A modern business requires modern tools to maintain a competitive edge. An ERP solution or other business management system will empower your business to address the needs of financial strategy and stability. Our financial professionals work within these systems daily to ensure our clients financial goals are aligned with their internal processes, regulations, and satisfy the financial compliance requirements of all jurisdictions in which they conduct business and are liable for financial reporting and payments to which they are subject.

Partner with an Encompass Fractional CFO or Financial Consultant

If you are ready to have a conversation around the financial leadership needs of your business, we’re standing by to help.

Contact us today to learn how Encompass can help position your financial activities and policies on the path to success.

You can download the financial services summary in a sharable format (PDF) below.

Fractional CFO Services

 

esi-fractional-cfo-financial-consulting-services-flyer

About Encompass Solutions

Encompass Solutions is a business and software consulting firm that specializes in ERP systems, EDI, and Managed Services support for Manufacturers. Serving small and medium-sized businesses since 2001, Encompass modernizes operations and automates processes for hundreds of customers across the globe. Whether undertaking full-scale implementation, integration, and renovation of existing systems, Encompass provides a specialized approach to every client’s needs. By identifying customer requirements and addressing them with the right solutions, we ensure our clients are equipped to match the pace of Industry.


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‘Tis the season for 12 steps of fiscal year planning for the 12 periods in the fiscal year, to ensure you enjoy the 12 days of Christmas.

Fiscal Year Planning

A proper fiscal year planning for all your departments is imperative to ensure your organization’s success in the coming year. You can start by defining your priorities and implementing them in a go-to-market strategy. However, the number of moving parts needed to accomplish this is massive. Tasks include evaluating your projected revenue goals, defining target markets and how to segment them, as well as determining your resource availability. Accomplishing these tasks will ensure you have a good roadmap to achieve your fiscal year planning goals. Below you’ll find the twelve steps to generate financial reports for your annual planning periods. This will help you to identify resource availability, as well as other data, to ensure you have good visibility into your finances.

an image of the 12 steps of fiscal year planning

 

IF

at (Financial Management/General Ledger/ Setup/Fiscal Calendar/ Selected Calendar) Latest FY = Current FY+1

THEN

Go to the Twelfth Step of Fiscal Year planning

ELSE

  1. Add a New Fiscal year
  2. Enter End Date
  3. Save
  4. Check Number of periods and closing periods for accuracy (check for period 13 requirements)
  5. Go to Actions. If a Calendar period THEN Generate Periods
  6. Check data accuracy
  7. Generate Periods
  8. Save and Exit ELSE
  9. at (Fiscal Year/Fiscal Period/List tab)
  10. Enter period date ranges needed
  11. Save and Exit
  12. Have a Happy New Year!

About Encompass Solutions

Encompass Solutions is a business and software consulting firm that specializes in ERP systems, EDI, and Managed Services support for Manufacturers and Distributors. Serving small and medium-sized businesses since 2001, Encompass modernizes operations and automates processes for hundreds of customers across the globe. Whether undertaking full-scale implementation, integration, and renovation of existing systems, Encompass provides a specialized approach to every client’s needs. By identifying customer requirements and addressing them with the right solutions, we ensure our clients are equipped to match the pace of Industry.


Tis’ the season for the 12 steps of Fiscal year planning for the 12 periods of the fiscal year. Get these steps out of the way so you can enjoy your holiday with peace of mind.

 

For those in need of a rundown of what a fiscal year (FY) is, it is a period that any company or government uses for accounting purposes. Financial statements are prepared according to the dates that make up that organizations FY. This may or may not align with a standard calendar year. The IRS recognizes that not all companies align their FY with a calendar and allows organizations to file as calendar-year taxpayers or fiscal-year taxpayers. You may hear this term used when referring to budgets, financial performance, and other accounting discussions.

Fiscal Year Period Accuracy

Here’s a brief guide to help you set up your FY period accuracy within your ERP system.

IF

  • At (Financial Management/General Ledger/ Setup/Fiscal Calendar/ Selected Calendar) Latest FY = Current FY+1

THEN

  • Go to the Twelfth Step

ELSE

  1. Add a New Fiscal year
  2. Enter End Date
  3. Save
  4. Check Number of periods and closing periods for accuracy (check for period 13 requirements)
  5. Go to Actions. If a Calendar period THEN Generate Periods
  6. Check data accuracy
  7. Generate Periods
  8. Save and Exit ELSE
  9. at (Fiscal Year/Fiscal Period/List tab)
  10. Enter period date ranges needed
  11. Save and Exit
  12. Have a Happy New Year!

About Encompass Solutions

Encompass Solutions is a business and software consulting firm that specializes in ERP systems, EDI, and Managed Services support for Manufacturers and Distributors. Serving small and medium-sized businesses since 2001, Encompass modernizes operations and automates processes for hundreds of customers across the globe. Whether undertaking full-scale implementation, integration, and renovation of existing systems, Encompass provides a specialized approach to every client’s needs. By identifying customer requirements and addressing them with the right solutions, we ensure our clients are equipped to match the pace of Industry.