Many growing businesses need both bookkeepers and controllers. Bookkeepers do transactional work, such as recording activity, processing invoices, maintaining the GL, and supporting AP and AR. Controllers review that work, establish controls, manage close, and take responsibility for the quality of financial reports.
An online or virtual controller delivers that oversight remotely. They give businesses access to experienced accounting leadership without adding a full-time internal role. This guide explains what a virtual controller does and what to look for when choosing an online financial controller service provider.
Core Accounting Functions Covered by a Virtual Controller
When comparing online controller services, start by defining the scope of your role. Most companies look for a controller who takes care of the following managerial accounting tasks:
Financial Reporting and Financial Statements
Controllers prepare and review balance sheets, income statements, cash flow reporting, and management reports. They look for inconsistencies across accounting periods and investigate unusual activity to ensure that all the business numbers are accurate, which is important when board members, lenders, investors, and leadership need to make sound business decisions.
Internal Audits and Account Reconciliations
A virtual controller establishes review and reconciliation procedures and approval workflows that reduce error and fraud risk. Regular bank, balance sheet, and general ledger (GL) reconciliations also help identify issues before they carry into the next reporting period or arise during an audit.
Month-End Close and Accounting Operations
The controller typically manages the month-end close and coordinates accounting activity across multiple departments, including Accounts Payable (AP) and Accounts Receivable (AR). That includes:
- Assigning responsibilities
- Reviewing work
- Resolving exceptions
- Keeping the close on schedule
Budgeting, Forecasting, and Financial Strategy
Controller services also support forward-looking decisions. Controllers create budgets, update forecasts, analyze variances, and give leadership better visibility financial performance.
This managerial accounting work complements historical financial accounting by helping teams understand how current numbers might impact future resource allocation and growth.
Cash Flow Management and Accounts Payable Oversight
Controllers also oversee AP processes, approval workflows, payment timing, and cash forecasts. This creates stronger control over outgoing cash while also helping leadership anticipate upcoming obligations and working capital needs.
Regulatory Compliance and Risk Management
Controller-level oversight also supports compliance and audit readiness by:
- Maintaining documentation
- Strengthening audit trails
- Coordinating with tax advisors and external auditors
- Applying accounting policies consistently
Depending on the business, that can include revenue recognition, multi-entity accounting, and other Generally Accepted Accounting Principles (GAAP) considerations.
Just as importantly, an experienced controller identifies financial risks before they become larger problems, such as reconciliation backlogs, weak approvals, inconsistent close procedures, and unreliable reporting.
Online Controller Services vs Full Outsourced Accounting Services
A virtual controller can also be one role within a broader outsourced accounting model. Controller-only support is useful when a business already has capable accounting staff but needs senior review, close management, reporting, and financial oversight.
Full outsourced accounting goes further by supplying additional roles across bookkeeping, staff accounting, AP, AR, and reconciliations. As your transaction volume and complexity increase, outsourced accounting can scale with you, without needing to hire an entire internal accounting team.
Who Needs Online Controller Services and What Are the Signs It’s Time to Consider One?
Controller services are often most valuable when a business has outgrown its current accounting team but doesn’t need to hire a full-time controller. Common examples include:
- Small and mid-market businesses that don’t yet have the budget for a full-time controller
- Nonprofits that need financial oversight and compliance support
- PE-backed and scaling companies that need timely, consistent financial reporting for investors and other stakeholders
If your month-end close is continuously delayed and reconciliations are piling up because of inconsistent internal controls, you may benefit from online controller services. With outsourced support, you can improve financial visibility for your leadership team.
Why Work with a CPA-Backed Controller Team?
Many companies offer online controller services, but they don’t all have the same expertise. If you want to ensure your company remains compliant and has accurate financial resources to work with, choose a CPA-backed controller team.
Instead of relying on one individual, collaborating with a controller team gives you access to professionals with complementary accounting, industry, and systems experience. You can have peace of mind knowing that those reviewing your books understand financial reporting, accounting standards, controls, and audit requirements, which are valuable skills to have as your financial operations become more complex.
How ScaleNorth’s Outsourced Controller Services Work
ScaleNorth delivers controller services through a CPA-backed team working directly inside NetSuite. We’re a NetSuite-exclusive practice, with over 300 consultants and accountants, and more than 800 NetSuite certifications. Best of all, over half our staff has their CPA, which means our controllers already know your enterprise resource planning (ERP) system.
Our team processes more than $10 million in client transactions daily and supports organizations ranging from emerging businesses to complex global enterprises. Whether you need only fractional controller support or a full outsourced accounting team, we can meet you where you are today.
Ready to Strengthen Your Financial Oversight?
Delaying controller-level oversight has a cost, even when it isn’t obvious immediately. It can lead to slower closes, unreliable reporting, weak controls, and less confidence in the information leadership uses to make decisions.
ScaleNorth provides scalable, CPA-backed controller and outsourced accounting support for businesses running NetSuite. Ready to talk through what controller-level oversight could look like for your business? Contact us today to speak with us about outsourced controller services.
Frequently Asked Questions About Online Controller Services
What does an online controller service cost?
Pricing depends on the scope of work, transaction volume, reporting requirements, accounting complexity, and the amount of ongoing support required. At ScaleNorth, we offer customized pricing based on the size and needs of your business rather than a flat rate.
How is this different from hiring a CFO?
A controller focuses primarily on daily accounting operations, financial reporting, controls, close, and the integrity of financial data. A chief financial officer operates at a broader, strategic level, including capital and strategic planning, budgeting and forecasting, financing, investor relationships, and enterprise-level financial strategy.
How quickly can a virtual controller start?
Timelines vary by provider and the complexity of your existing books and systems. Because our team works exclusively inside NetSuite, onboarding is typically faster for businesses already on the platform.
Do nonprofits benefit from controller services?
Yes. Nonprofits often need the same level of financial oversight and compliance support as for-profit businesses. However, they don’t often have the budget for a full-time hire. Controller services provide that oversight, including support for the unique reporting requirements of nonprofit accounting.