Virtual CFO

As your Virtual CFO we propose to perform the following services:

  • Pay your bills
  • Do your invoicing
  • Reconcile your expense claims
  • Administer the Budget Manager application in Xero for you
  • Monitor your Xero account on a [Weekly/Monthly/Bi-Monthly] basis
  • Provide monthly Board and management reports with accompanying commentary in understandable format:
    • Statements of cash flow and profitability
    • Performance Reports:
      • Budget Summary
      • Budget Variance
      • Executive Summary
      • Expenses by Contact
      • GST Return
      • Income by Contact
      • Profit & Loss
    • Position Reports:
      • Aged Payables
      • Aged Receivables
      • Balance Sheet
      • Movements in Equity
    • Cash Reports:
      • Bank Reconciliation
      • Bank Summary
      • Cash Summary
    • Detail Reports:
      • Account Transactions
      • Journal Report
      • Trial Balance
  • Reconcile:
    • Your bank accounts
    • Your Accounts Receivable and Accounts Payable
    • Your Expense Claims
  • Take care of your GST Requirements
  • Conduct a Business Performance Health Check
    • Highlights areas of the business that are performing well and not so well
    • Provides a basis to model changes to improve your bottom line
  • Establish and Review KPIs so that you can:
    • Analyse how your business is performing
    • Compare against your financial plan
    • Take corrective action sooner rather than later
  • Ensure timely preparation of end of year financial accounts and tax returns
  • Provide plans for Tax Forecasting and Tax Minimisation
    • No one likes paying taxes. We will do everything within the guidelines to legally minimise your tax
    • Forecasting tax enables you to budget for future payments, minimising interest and penalties on under-payment of tax
  • Complete Annual Benchmarking Analysis
    • Compares your business with others in your industry
    • Identifies your strengths, weaknesses, opportunities and threats
    • Provides an analysis of your competitors
  • Facilitate your Annual Strategic Planning Meeting where together we’ll:
    • Consider all aspects of your business
    • Focus long term
    • Link your personal and business goals
    • Produce a clear statement of your business’ development and direction
    • Develop your action plan
  • Produce your Annual Financial Plan and Cash Flow Forecast
    • Convert the Strategic Plan into a financial plan
    • Focus on profit and cash flow improvement
    • Perform a reasonableness check
    • Provide a basis from which to measure actual results

 

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