Virtual CFO

About Virtual CFO

Business management:

One of the key benefits of a virtual CFO are the business management aspects. Some of a CFO’s duties are managing finances including financial statements and forecasts. A  standardized statement of finances will help evaluate a business and any personal goals. Virtual CFO’s can examine these statements for performance and profit or loss and forecast where a business will be in the future. Other aspects of business management can include KPI’s (key performance indicators) which are business indicators that measure how successful a business is based on the business achieving key business objectives. A virtual CFO will examine your business’s future, including financial forecasting, budgeting, and goal consulting. They can help create the plan, implement it, and make sure the business is a success. 

CFO business duties:

• Financial statement preparation and management
• Cash forecasting
• Create KPI’s and manage completion
• Financial insight and consultation
• Profitability and shareholder value management 

We can guide you through which forms you may need; however, we cannot give you legal advice. We can help prepare your real estate document needs including leases, land trusts or deeds, tenant applications, and background checks, along with other miscellaneous move-in or out legal documents.

Report management:

A virtual CFO will document all financial activities within the business, from overhead expenses, labor costs, profit and loss, and more. The CFO will analyze and examine the opportunities for the business or where improvement may need to take place. They are responsible to report the information to management, a board of directors, or the CEO. It’s the virtual CFO’s job to make sure the management knows and understands the financial information. The major benefit with the virtual CFO, is that much of the information can be shared and presented through power points, emails, and video presentations. This activity will save the business additional finances since the information will be shared virtually. 

CFO reporting duties:

• Document and report to CEO, Board of Directors, or management
• Present statements of profit and loss
• Plan and implement business objectives
• Prepare and maintain budget plans

 Accounting and tax management:

Virtual CFO’s provide expertise focused on the businesses needs. From book-keeping needs with software programs like QuickBooks, Great Plains, NetSuite, Oracle, Sage, Navision, and similar systems designed to keep your business on track. Our virtual CFO’s can reconcile your business bank account, generate income statements & balance sheets, and provide virtual consultations to manage the business, making sure to keep track of any lost checks, deposits, or any activity that shouldn’t be there. We’ll keep your business in check, accounting for any incorrect transactions, overdrafts, etc. The virtual CFO will help make sure the business is filing correctly quarterly and yearly. Our experts understand that consistency is key and planning ahead saves you money. A virtual CFO will keep the business on track and make sure it’s successful, throughout the year. 

CFO accounting duties:

• Debt financing management
• Book-keeping management
• Reconciling bank accounts
• Generating income and balance sheets
• Tax filing management 

We can also notarize any legal documents we’ve prepared or that you bring to us.