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Virtual CFO
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WHITNAH CPA offers a Virtual CFO service to start-up businesses as well firms that own a growing small and medium-size business and need reliable and knowledgeable professional to handle firm’s financials. The Virtual CFO is an agent of your company who acts exclusively within interests of your business. This function is to help your business to prosper and succeed. The CFO is a key person within an organization in developing and implementing strategy to achieve its future goals.
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The Virtual CFO provides a high skill assistance in financial requirements of an organization, just like a Chief Financial Officer does for large organizations. This is an outsource type service with CFO working remotely and interacting with client upon agreed schedule. He or she supervises accounting and financial staff to assure that tasks are completed timely and in professional manner. One of the primary function of the Virtual CFO is to promote an effective and efficient financial controls within your organizations.
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This service may range from back-office support and advisory service to all-inclusive program which includes outsourced finance and accounting services.
Rate for this service varies depending on volume, duration, and complexity of a project. Cost of services is impacted by how your accounting systems, policies and procedures, and reporting needs are set up and administered.
Virtual CFO Key Deliverables:
Internal controls policies setup and improvement
Observe every financial and operative function of the organization
Identify heavy business risks and make appropriate business decisions regarding those risks
Cash Flow and AP Management
Financial Close Management
Dashboard Reporting
Budgeting & Flux Analysis
Equity Management
Payroll & HR
Virtual by-monthly Meetings
Advisory Service
Accounting and Bookkeeping full service*
Business and Stakeholders Tax preparation*
Virtual Controller
A Virtual Controller function is less in scope than CFO. The Controller's responsibilities are limited by accounting, record keeping, and analysts of financial information. Additional agreed upon responsibilities can include management of information technologies, ad-hoc accounting and financial reporting, sales tax and federal income tax reporting. In essence Controller is responsible for the financial and regulatory compliance of the firm.
Virtual Controller Key Deliverables:
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Cash Flow and AP Management
Financial Close Management
Dashboard Reporting
Budgeting & Flux Analysis
Equity Management
Payroll & HR
Virtual Monthly Meetings
Accounting and Bookkeeping full service*
Business and Stakeholders Tax preparation*
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* ​this services are proposed additionally to be included to Virtual Controller and Virtual CFO packages
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We base our fees on time required at our regular rates for the type of services and personnel assigned plus out-of-pocket costs. We also give consideration to the difficulty and size of the assignment, the degree of skill required, time limitations imposed on us by others, the experience and ability of the personnel assigned, the nature of the project, the level of cooperation by the client’s staff, and the value of the services to the client.