Startup Q&A
In a company / startup, should the CEO or the CFO write checks?
CEO and Founder of Kruze Consulting
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In a startup both the CEO and CFO should be authorizing checks and bill payments. As a best practice, we find that it’s best to
- Present the CEO with a list of bills to be paid,
- Have the CEO approve over email,
- Then have the CFO and accounting team write and distribute the checks.
This assures that at least two people have viewed and approved all outgoing monies, while keeping busy work off the CEO’s plate.
If you startup is getting too busy growing to handle your accounting tasks, consider hiring an outsourced startup CFO.
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