Head of Finances
Job Description
The Head of Finances, or Controller, is responsible for the cash flow and financial success of a business. The Head of Finances is usually responsible for finding investors and external funding opportunities for growing their business, while the Controller oversees the expenses and assets of the company. When one individual assumes both financial roles, they manage both incoming revenue and outgoing expenses.
The Head of Finances oversees all the financial dealings of a company and reports to the CEO as well as the chairman of the board. It takes years of experience in accounting, management, and plenty of relevant education (exemplified by certifications or advanced degrees) to obtain a senior management position as Head of Finances.
Responsibilities
- Budgets
- Inventory Control
- Street Buys
- Trades
- Accounts Receivable
- Layaways
- Cash
- PayPal
- Pending Payments
- Accounts Payable
- Consignments
- Bills
- Vendors Accounts
- Payroll
- Expenses:
- Amex expenses
- Shipping supplies
- Parts
- Instacart/shop supplies
- Showroom
- Technology
- Vehicle
- Receipts for every transaction
Accountabilities
- Accurate and Updated Bookkeeping (Sheets)
- KPI: All inventory is accounted for, correct and up to date
- KPI: All purchases, sales and expenses are accounted for in sheets and have receipts
- KPI: Balance sheet is balanced
- Consignors are paid out in compliance with their consignment agreements
Authority
- Approve or Deny Expenses
- Write Checks, Use Company Card, Handle Cash
Schedule
- Daily
- Update sales records
- Update inventory records
- Update expenses
- Weekly
- Check records against accounts and cash available
- Generate a report
- Monthly
- Audit transactions through all sales platforms
- Audit inventory
- Audit finances
- File Sales Tax
- Quarterly
- Counts per department
Goals
Pay off all debts.
Pay consignors on time.
Keep available cash for guitar shows and unexpected purchases.