Frequently Asked Questions
Questions About Working With Simplicity Financial
Explore practical accounting, tax, and financial guidance from Simplicity Financial.
Frequently asked questions
Does Fractional Mean Part-Time?
Yes and no. The fractional model gives you access to experienced financial expertise without budgeting for a full-time position. Based on your needs and budget, Simplicity Financial will work with you to establish goals, identify deliverables, and set priorities.
It is part-time in the sense that you are not hiring a full-time employee. However, the engagement is built around achieving the agreed-upon goals and deadlines, not simply tracking hours on a clock.
What Kinds of Clients Does Simplicity Financial Serve?
Simplicity Financial primarily works with churches, nonprofits, private and Christian schools, and closely held businesses.
Clients range from growing organizations that need help establishing their financial systems to established organizations with up to $40 million in annual revenue.
If you need support with bookkeeping, accounting, tax preparation, outsourced controller services, or fractional CFO services, Simplicity Financial can help determine the right level of support.
Will I Give Up Control of My Books With Outsourced Services?
No. You will continue to have access to your financial records.
Simplicity Financial will work with you to establish a process that clearly defines who is responsible for each task. The goal is to give you better financial support and oversight while keeping you informed and in control.
How Is Pricing Determined?
Pricing is based on your organization and the support you need.
Simplicity Financial will consider the size and complexity of your organization, the services required, the condition of your current financial records, and the number of systems or data sources involved.
From there, you will receive a clear quote for the agreed-upon services. Rather than receiving an unpredictable hourly bill, you will know what the engagement will cost before the work begins.
Why Should I Outsource Instead of Hiring Internally?
Outsourcing gives you access to experienced accounting and financial expertise without the cost and responsibility of hiring, training, and managing additional employees.
You can receive the financial support your organization needs without taking on the salary, benefits, software, equipment, and administrative expenses associated with a full-time position.
What Advantages Does Simplicity Financial Offer Over Hiring an Employee?
You pay for the financial support your organization needs without taking on the full cost of an internal employee.
You also benefit from an experienced professional who stays current on accounting standards, financial best practices, and the software and systems that may improve your organization’s financial processes.
Simplicity Financial can provide experienced oversight while helping you avoid the added challenges of recruiting, onboarding, and managing an internal accounting team.
How Do I Transition From In-House to Outsourced Services?
Simplicity Financial will guide you through the transition.
The onboarding process begins with learning about your organization, understanding your current financial processes, and identifying where your financial data is stored.
Do not worry if your organization does not have established processes. Simplicity Financial can help create them.
Once the systems, responsibilities, and expectations are clear, the ongoing work begins. You will receive accurate financial information and regular reporting based on the scope of your engagement.
How Does Simplicity Financial Measure Success?
Success is measured by stronger financial systems, more efficient processes, accurate reporting, and clearer information for leadership.
Simplicity Financial clients have experienced an average 40% reduction in full-time-equivalent staffing needs over a two-year period. Improved systems, technology, and more efficient processes can help organizations achieve better outcomes with fewer internal resources.
The most important measure, however, is whether the original problem has been solved.
Many clients reach out because something in their financial process is not working. Simplicity Financial reviews the current situation, identifies what needs to change, and develops a plan to correct the problem while building stronger systems for the future.
Still Have Questions?
Every organization and financial situation is different. Schedule a conversation with Shaun Glenn, CPA, MSA, MST, to discuss what is happening and what the right next step may look like.
Call (951) 444-1895 or book a free consultation online.