As a business owner, you would naturally assume that you own your company’s books. If you are a client of ZümiFi, that would be the correct answer. However, for other service providers, that may not be the case. As a result, most owners leave it up to an accountant or bookkeeper to handle the setup process.
It’s important to understand the various roles within QuickBooks Online (QBO) to ensure that you have full control over your books. The two primary roles are the Company Administrator and the Master Administrator.
If the individual who sets up your QBO account happens to make themselves the Master Administrator, then they have total control of your books. As the Company Administrator, you have complete book access. The Master Administrator is the account owner and has access to your QBO subscription, the rights to change company settings, the ability to invite/delete users, and can edit users’ access. Most importantly, the Master Administrator is the only one who can transfer this role.
If you have decided to part ways with your Master Administrator, things can turn ugly if the parting is sour. Just because you trust your accountant or bookkeeper, this is one role you cannot trust anyone with. Being the Company Administrator of your account is not enough. It would be best if you were the Master Administrator of your QuickBooks Online account. Your books are important, and they belong to you.
At ZümiFi, we understand the importance of controlling your financial records. Our financial management services can help you create the financial discipline and routine to flex your business muscles. Our services can show you how to get the desired results for your business. Like a personal trainer at the gym, ZümiFi’s extensive financial and business expertise can save you time and money in managing your business. We’ll help you achieve your success more efficiently and effectively.
Our outsourced CFO services can help you monitor your business’s financial performance with customized criteria and metric tracking, create budgets and cash flow projections, design and implement internal controls, provide advice regarding the technology your business uses and business process optimization, and provide advice and support to the CEO, COO, or Owner as a key and confidential partner. For clients who manage their bookkeeping, we also offer financial review and oversight services to monitor bookkeeping and provide our unique expertise in QuickBooks and financial analysis for your business.
Contact us today to learn how we can help you streamline your bookkeeping process and take your business to the next level.
If you need help establishing your best practices, ZümiFi is here to help.