Do You Need a CFO or Just a Great Bookkeeper?
Many small businesses reach a point where their finances feel more complex-and the natural question becomes, “Do we need a CFO?”
Download Our Free Brochure →But most of the time, the real issue isn’t a lack of strategic leadership-it’s messy books. Clean, consistent, CPA-reviewed bookkeeping often solves the problems business owners think only a CFO can fix.
This blog breaks down when you really need a CFO-and when a great bookkeeper is more than enough.
What Does a CFO Actually Do?
A CFO (Chief Financial Officer) is responsible for:
- Financial forecasting and budgeting
- High-level strategic planning
- Fundraising support and investor relations
- Complex reporting and performance analysis
CFOs are valuable-but they’re expensive and rarely needed full-time for businesses under $5M to $10M in annual revenue.
What Bookkeepers Actually Handle
A bookkeeper (especially one backed by CPA review) ensures:
- Accurate categorization of every transaction
- Monthly bank and credit card reconciliation
- Timely profit and loss and balance sheet reports
- Clean books that are tax-ready and audit-safe
For most small businesses, that’s exactly what’s needed to run the business, stay compliant, and make day-to-day decisions confidently.
Why Some SMBs Over-Hire for the Wrong Reason
Many business owners think they need a CFO when:
- They haven’t been getting reliable reports
- Their books are behind or disorganized
- They’re preparing for taxes with messy numbers
- They want financial clarity but don’t know where to start
In these cases, a CFO is overkill. Fixing the foundation-your books-delivers clarity, improves confidence, and saves thousands per year.
Download Our Free Brochure →Test Case: Law Firm in Tampa, Florida
A growing law firm with 8 attorneys hired a part-time CFO to help them understand their financials. After three months and thousands of dollars in invoices, they still didn’t feel confident about their cash flow or reporting.
The issue wasn’t strategy-it was that the books were never consistently maintained.
They switched to RemoteBooksOnline. The team:
- Caught up on six months of backlogged bookkeeping
- Delivered clean, CPA-reviewed reports every 30 days
- Provided consistent visibility into cash flow and expenses
The firm paused their CFO contract and now uses their accountant only for tax filings-saving over $18,000 annually while getting the clarity they originally needed.
When You Actually Do Need a CFO
You should consider a CFO when:
- You’re raising money or managing investors
- You need complex budgeting or forecasting models
- You’re preparing for M&A or major capital investment
- You’ve outgrown standard bookkeeping processes and require custom analytics
Until then, consistent, CPA-reviewed bookkeeping will take you farther than you think.
FAQs
Do I need both a CFO and a bookkeeper?
Eventually, maybe-but in most cases, reliable bookkeeping comes first. A CFO can’t make strategic decisions on top of messy or outdated data.
Can RemoteBooksOnline replace a CFO?
Not directly—but for most small businesses, we eliminate the need for one by providing clear, accurate, monthly reports reviewed by a CPA.
What if I already have a part-time CFO?
We can work alongside them by maintaining the books and providing the financial data they need-without charging strategic advisory fees.
What if I’m behind on my books?
We specialize in catch-up bookkeeping and can help you get current quickly.
Conclusion
Before you invest in CFO-level strategy, make sure your books are consistent, accurate, and CPA-reviewed. For most small businesses, that’s what unlocks the clarity and control they’ve been missing-not a high-level hire.
RemoteBooksOnline gives you exactly that, with flat pricing, a dedicated team, and no unnecessary upsells.
Stay organized and tax-ready year-round with our flat-rate monthly bookkeeping services.
If you’re behind on your books, our catch-up bookkeeping services can help you get current fast-no stress, no mess.
