Bookkeeper, Controller, or CFO? How They Work Together in Restoration Company Finance

Jun 15

If you're running a restoration company, you’ve probably heard the terms bookkeeper, controller, and CFO tossed around—but how do they differ, and do you really need all three?

Think of them as levels of financial insight. Each role builds on the one before it—and when they’re working together, you get clean books, clear reporting, and confident decisions.

Here’s how they differ and how they work together to support profitable growth.

1. Bookkeeping: The Foundation of Financial Accuracy

A bookkeeper keeps your financial records accurate and up to date. In a restoration company, that means:

Recording daily transactions (vendor bills, invoices, payments)
Reconciling bank and credit card accounts
Categorizing expenses correctly (materials vs subcontractors vs labor)
Keeping the books current in QuickBooks

Without this role, nothing else works. If the data going in is wrong, your reports, KPIs, and tax filings will be too. But bookkeeping is just the first step.

2. Controller: The Process and Oversight Layer

A controller steps in to bring consistency, oversight, and internal controls. For restoration companies, that usually includes:

Managing job costing workflows and making sure costs are tied to the right jobs
Reviewing and cleaning up monthly financials
Ensuring compliance with internal policies and procedures
Overseeing payroll allocations, WIP adjustments, and accurate revenue recognition

The controller ensures that the financial data isn’t just entered—but that it's correct, complete, and audit-ready. This role bridges the gap between data entry and decision-making.

3. Fractional CFO: Strategic Financial Leadership

A fractional CFO looks at the big picture—and helps you make decisions that move the needle. They use clean, reliable data (from the bookkeeper and controller) to guide:

Pricing strategies and profitability analysis
Cash flow forecasting and AR collection strategy
Labor cost visibility and hiring planning
Budgeting, benchmarking, and long-term planning

In short, the CFO helps you answer:
“Can I afford to hire?”
“Why am I making revenue but not seeing profit?”
“Which service lines should we grow or cut?”

For many $1M–$50M restoration companies, a full-time CFO isn’t necessary—but a fractional CFO gives you strategic support without the full-time salary.

How They Work Together in a Restoration Company

Each role supports a different layer of your financial visibility:

Bookkeeper
- Focus: Daily data entry and categorization
- Delivers: Clean, up-to-date financial records
- Key Tasks:
  - Entering bills, invoices, and payments
  - Reconciling bank and credit card accounts
  - Coding expenses properly (materials, labor, etc.)
Controller
- Focus: Oversight and process management
- Delivers: Accurate monthly reports and reliable job costing
- Key Tasks:
  - Reviewing and adjusting monthly financials
  - Ensuring job costing is accurate and consistent
  - Managing revenue recognition and WIP processes
Fractional CFO
- Focus: Strategic financial leadership
- Delivers: Financial clarity and decision-making support
- Key Tasks:
  - Forecasting cash flow and planning for growth
  - Analyzing profitability by service line
  - Advising on hiring, pricing, and investment decisions

Together, these three roles form a complete financial team—even if each one is part-time or outsourced. Restoration companies that combine all three tend to operate with greater financial clarity, faster growth, and fewer costly surprises.

Want to Know What Your Restoration Company Actually Needs?

If you're not sure whether you need a bookkeeper, controller, or CFO-level support—or you're wondering where your current system might be falling short—we can help.

👉 Schedule a free consultation and we’ll walk through your current financial setup and show you where better visibility could improve profitability.

Michele Gray