SHOULD YOU BE GETTING BOOKKEEPING SERVICES OR CFO-LEVEL BOOKKEEPING SERVICES?

Michelle A. Wilson, EA, MSA – The Accountant, Tax & Business Coach

Empowering Businesses: Where Accounting Excellence Meets Business Success.

Business owners hit a point where simple bookkeeping is no longer enough. Money is coming in, money is going out, and even though the business is growing, the financial picture starts feeling cloudy.

That’s the moment every entrepreneur asks:

Do I still need regular bookkeeping… or is it time for CFO-level bookkeeping support?

Here’s how to know exactly where you belong.

What Basic Bookkeeping Really Covers

• Transaction categorization

• Bank and credit card reconciliations

• Monthly statements

• Light contractor tracking

• Merchant processor cleanup

• Month-end reports

Basic bookkeeping is perfect when your business is still building its financial foundation. Everything is about maintenance and accuracy. If you need help staying organized or establishing a monthly structure, professional bookkeeping services are usually enough at this stage.

Signs You’re Outgrowing Basic Bookkeeping

• You’re consistently earning around $13,000 to $20,000 per month

• You have multiple merchant processors

• You’re paying several contractors

• You’re handling recurring vendors

• You need financials for tax time but not strategy

At this stage, you may still fit my $650 or $800 bookkeeping plan. You’re moving, but not yet at the point where decisions require financial forecasting.

If you want to understand how your financials should be structured at this level, the SBA provides helpful insight under financial management guidance for small businesses.

When You Know It’s Time for CFO-Level Bookkeeping

Once a business reaches $15,000 per month, you’re no longer in “basic bookkeeping territory.” You’re entering strategy mode, and the decisions you make begin to carry meaningful financial impact.

Here’s when CFO-level support becomes necessary:

• You feel money comes in… but you can’t see where it goes

• You’re planning to hire, lease space, or expand

• Cash-flow issues are becoming a pattern

• You’re juggling multiple offers, programs, or departments

• Transaction volume is rising beyond 175–250 monthly

• You need real forecasting, not just reports

• You need to understand which income streams actually make profit

• You need your books ready for lenders, tax planning, or growth decisions

To see why this shift matters, review how to understand cash flow.

This is where my CFO plan fits perfectly.

CFO services typically run between 6% and 9% of monthly revenue, depending on the level of support needed. If you’re ready for strategic financial leadership, explore CFO support for growing businesses.

Who Belongs in the $2,000 CFO Plan?

This level is for high-activity or complex service-based businesses that need ongoing financial leadership.

You’re likely here if you have:

• $25,000 to $35,000 per month in revenue

• Multiple service lines or programs

• Heavy Stripe/Square/PayPal batching

• High contractor volume

• Recurring financial questions throughout the month

• A need for monthly strategy calls

• A need for cash-flow modeling, not guesswork

Businesses at this level typically need clarity around performance metrics. Forbes gives a great overview of what financial KPIs matter for service-based companies.

You may also benefit from using advisory accounting to drive profitability

The Cleanest Way to Decide

If your business is still trying to stay organized → You need bookkeeping. If your business is trying to grow, scale, or stabilize cash flow → You need CFO-level bookkeeping.

If your business is starting to ask bigger questions:

• Can I afford to hire?

• Why doesn’t my profit match my revenue?

• Which services should I drop or expand?

• What will my next 6 months look like?

You’re ready for CFO support when your revenue reaches $15,000 per month, the business stops needing someone to “keep the books” and starts needing someone to guide the business financially.

That’s when CFO-level bookkeeping becomes not just helpful —but necessary.

If you’re ready to talk about which tier you fit in, you can book a consultation anytime!

Connect With Michelle A. Wilson, EA, MSA

Contact Michelle: https://visit.iammichelletheaccountant.com/contact-michelle-wilson-accountant

The Accountant, Tax & Business Coach

Empowering Businesses: Where Accounting Excellence Meets Business Success.

Cornerstone Coworking: 279 W. Crogan Street, Lawrenceville, GA 30046

Serving small and midsize business owners through virtual and in-person services, covering Lawrenceville, Snellville, Duluth, Buford, Grayson, Gwinnett County, and the Greater Atlanta area — as well as entrepreneurs throughout New York, New Jersey, Pennsylvania, Maryland, North Carolina, South Carolina, Georgia, Florida, and Texas.

Services Michelle Provides:

• Bookkeeping and CFO services for service-based businesses

• Bookkeeping and tax services for freelancers, contractors, and gig workers

• Small business tax preparation

• Financial strategy and business advisory

• Bookkeeping and payroll training using QuickBooks

• Medical and dental practice bookkeeping

• Virtual and in-person support tailored to business needs

Main Website: www.iammichelletheaccountant.com