In this article, we break down bookkeeper vs controller vs CFO so you can decide what your business really needs.
As a business grows, so do its financial needs. Many Indianapolis business owners reach a point where QuickBooks and a part-time bookkeeper aren’t enough, but they aren’t quite ready for a full-time CFO either. That’s where things can get confusing.
So let’s break it down simply: what’s the difference between a bookkeeper, a controller, and a CFO—and which one does your business actually need right now?
Bookkeeper
Think of your bookkeeper as the foundation. They handle the day-to-day financial records:
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- Recording transactions (sales, expenses, payroll)
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- Reconciling bank accounts
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- Keeping your books accurate and up to date
👉 If your books are messy or behind, a bookkeeper is the first role you need to get right. Without clean books, higher-level financial decisions don’t matter.
Controller
A controller takes things a step further. Instead of just recording data, they focus on accuracy, controls, and process. A controller typically:
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- Oversees the bookkeeping process
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- Establishes financial policies and checks
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- Prepares reliable monthly financial statements
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- Helps speed up and streamline your month-end close
👉 If you’re doing over $500k–$1M in revenue and want trustworthy reports each month—not just at tax time—a controller adds real value.
CFO
A CFO (Chief Financial Officer) is your strategic partner. They use your numbers to guide decision-making:
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- Cash flow forecasting
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- Budgeting and financial planning
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- Advising on growth, financing, and profitability
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- Helping owners and leadership teams set the right course
👉 If your business is scaling quickly or considering investment, a fractional CFO can help you think several steps ahead.
Which One Do You Need?
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- Under $250k in revenue? → Start with reliable bookkeeping.
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- Around $500k–$2M? → A fractional controller can bring accuracy and efficiency.
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- Growing beyond $2M+ or making big strategic moves? → Time to consider a fractional CFO.
The Bottom Line
Every business deserves financial clarity—but not every business needs a Controller or CFO right away. The key is matching the right level of support to where you are today.
At Lean Street Finance, we help business owners in Indianapolis get the right financial foundation in place, whether that’s ongoing bookkeeping, fractional controller support, stepping in as a part-time CFO, or a blend of all three.
📩 Want to talk through what’s right for your business? Get in touch here.