Margin CFO and Bookkeeping

Margin CFO and Bookkeeping

Financial Services

Austin, Texas 894 followers

Margin® provides Bookkeeping, Fractional Controller, and Fractional CFO Services to small businesses and startups.

About us

Margin® provides Bookkeeping Services, Fractional Controller Services, Fractional CFO Services, and Back-Office Support Services to small businesses and startups.

Website
www.margincfo.com
Industry
Financial Services
Company size
2-10 employees
Headquarters
Austin, Texas
Type
Privately Held
Founded
2019
Specialties
Accounting, Bookkeeping, Financial Consulting, GAAP, Audit Prep, Financial Modeling, Forecasting, Startups, Financial Reporting, Cash Forecasting, and Financial Statement Analysis

Locations

Employees at Margin CFO and Bookkeeping

Updates

  • We're on a mission to change the image of accounting.

    View profile for Matt McMichen, CPA, graphic

    Startup Bookkeeping, Fractional CFO, & Fractional Controller services at Margin. We provide financial clarity and insights to help startups and small businesses grow.

    The accounting industry is long overdue for a makeover. Frankly, I’m surprised it’s taken this long. What we need, now more than ever, is a new image. A new brand. A new philosophy. Gone are the days of: - Suits and ties - Boring, dull, monotony - Social awkwardness - Obsession with profit over people (I’m looking at you, Big 4) - Working nights and weekends - The “Big 4 or bust” mentality - Time tracking - The hourly billing model It’s time to usher in a new era for Accounting. We need more and more good accountants who are approachable, people-focused, and genuinely helpful. We need more accounting firms that: - Foster a warm, casual culture - Prioritize innovation and leverage technology - Focus on people over profit - Trust their people - Charge fair prices based on value - Prioritize balance (do all the above right, and this becomes inevitable) We’re in the early innings at Margin CFO and Bookkeeping, but believe me… We will do everything we can to lead the way. We’re building a modern firm – a firm that’s focused on people first and foremost. A firm that exists for something bigger than money, bigger than ourselves. A firm that exists for the growth of our people and the growth of our customers. We are the New Accountants.

  • View profile for Matt McMichen, CPA, graphic

    Startup Bookkeeping, Fractional CFO, & Fractional Controller services at Margin. We provide financial clarity and insights to help startups and small businesses grow.

    You can’t grow a startup 𝙩𝙝𝙚 𝙧𝙞𝙜𝙝𝙩 𝙬𝙖𝙮 without good finance and accounting. At least not for long... Sure, you may “grow” while paying little attention to your numbers. A healthy top-line and a big bank balance can provide a lot of false confidence. But at some point, it’ll catch up with you. You'll have to put out fires that could've been prevented. You'll face emergencies that you're not prepared for. You'll have to make decisions without the necessary data. It'll be chaos. Inexperienced founders consider accounting and finance as just a support function. Purely overhead. A necessary evil. But a good accounting/finance team can have an outsized impact on your company’s trajectory. It can be the difference between success and failure. The best startups I've ever worked with (9-figures & unicorns) were the ones that paid the most attention to their numbers. If you need help with yours, send me a DM.

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  • What's the worst thing you can do for your startup or small business when it comes to finance & accounting? Ignore the finance function altogether or relegate it to a check-the-box exercise. The second worst? Overcomplicate it.

    View profile for Matt McMichen, CPA, graphic

    Startup Bookkeeping, Fractional CFO, & Fractional Controller services at Margin. We provide financial clarity and insights to help startups and small businesses grow.

    The basics of finance for startups: 1. Create a simple forecast 2. Close your books and compare them to the forecast 3. Refine your forecast 4. Act accordingly Don't know how to create a forecast? Here's how: 1. Gather and analyze historical data (if you have it) 2. Assess market conditions 3. Identify trends 4. Adjust for seasonality 5. Plan for contingencies 6. Identify revenue drivers 7. Forecast future revenue 8. Forecast future expenses (keeping in mind what it’ll take to find and deliver that revenue) 9. Set goals and benchmarks 10. Update it regularly This is the 80/20 of finance. Don’t overcomplicate it.

  • We're growing! If you're an experienced accounting and finance professional looking for your next role, check us out. This is a great opportunity for someone with a combination of both accounting and finance experience to add a ton of value to startups and small businesses.

    View profile for Matt McMichen, CPA, graphic

    Startup Bookkeeping, Fractional CFO, & Fractional Controller services at Margin. We provide financial clarity and insights to help startups and small businesses grow.

    Excited to share that Margin CFO and Bookkeeping is growing yet again. We're looking for another Controller to join the team and help us manage month-end close and provide critical financial insights to the startups and small businesses we're privileged to serve. If you or someone you know would be a good fit, please apply or reach out!

  • If your paid time off policy hasn’t changed in decades, it may be time to take note of the latest statistics regarding PTO and the challenges that both employees and employers are navigating. The Current PTO Landscape: - Utilization Gap: Only 40% of workers utilize all their paid leave, leaving the remaining 60% struggling to use it effectively (Source: Human Resource Management). - Job Demands: A third of employees face challenges taking their allotted vacation time due to work pressures (Source: Indeed). - Special Situations: Some employees save PTO for personal needs, lack funds for travel, or experience guilt about taking time off. - Alternative Preferences: Interestingly, 83% of workers express interest in converting unused PTO into other financial benefits (Source: MetLife).

  • Wondering if it's worth it to have someone else do your bookkeeping? Well, consider how many hours per month you spend on bookkeeping tasks that someone else could be doing. Then take into account how much your time is worth per hour as the CEO of your business ($250? $500? $1,000?). What if you had those hours to make sales, and those sales produced a strong profit? If you outsourced your bookkeeping, how much would that then save you in comparison to the cost of giving up those sales opportunities and profit margins?

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  • Your financials should not be generic. They are a reflection of your business so they should be customized to your business... in detail. Regular reviews (monthly is best) spark crucial questions: "Why these numbers?" "What's the story behind them?" "What's next?" You don't want to end up leaving money on the table because you did a generic sweep of things once in a while.

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  • We know it's sometimes difficult to think that the IRS is looking out for you, but it's actually true. They're actively implementing several positive changes, particularly focusing on enhancing user-friendliness of digital tools. This includes improvements to the Your Online Account and Document Upload functionalities, making it easier for individuals to navigate their tax needs. They're even adding additional features to the tax pro accounts, making it easier for us to gain access to certain things so we can help you with your tax situation. Baby steps. https://lnkd.in/gtVYmVya

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