Grow Your Small Business

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smiley Have you heard the joke about the interesting accountant? No. Me neither.

What is a virtual CFO?

The Virtual CFO is a new concept. It's a way for small businesses to get CFO support that they wouldn't have been able to afford previously.

Small businesses that hire a Virtual CFO get access to an experienced financial professional at a fraction of the cost of a full-time CFO. 

Advantages for small businesses

Having access to a Virtual CFO can be a big benefit for a small business. Most small businesses can't afford an experienced, knowledgeable CFO on a full-time basis and may never consider hiring one.

That's a problem because many small businesses fail within the first three years. Reasons include failure to set themselves apart from the competition, and an inability to find a profitable business model. With an accounting professional acting as their Virtual CFO, they could keep their financial goals and realities clearly in sight.

A Virtual CFO is an affordable alternative to hiring a full-time CFO and can make a big difference to a small business, by:

  • Creating budgets and forecasts.
  • Pinpointing problem spending by highlighting trends in the market.
  • Validating or discouraging business decisions with financial well-being in mind.

These are abilities that the vast majority of business owners don't possess – but they often need them in order to succeed.

Full-Charge

In Denver, a Full Charge Bookkeeper can make $49,856 in annual salary, that does not include benefits or payroll taxes so add at least another 20% for that. Many Small Business Owners do not need a full-charge full-time bookkeeper on staff. Many SMB's who hire a full-charge bookkeeper on staff usually end up having them do lower-level administrative functions for the business. If you need an administrative assistant hire one, and outsource your financial concerns to a qualified CPA professional.

Think of me as your own accounting department. I pretty much do it all:

  • Accounts Payable
  • Accounts Receivable
  • Invoicing/Billing
  • Bank Reconciliation
  • Financial Reports

WHO: Recommended for businesses with high vendor payment frequency and regular customer billings, wishing to outsource these tasks instead of hiring staff.

Premium Level – Starting at $850 Monthly.

Based on QuickBooks Online Plus (paid by client)

  • Weekly Bookkeeping
  • Customer invoicing assistance.
  • Recurring customer invoicing assistance.
  • Bill and Bill Payment Assistance.
  • Monthly Bank Reconciliations.
  • Monthly Credit Card Reconciliations.
  • Assistance on how to handle Job Costing and Classes.
  • Monthly Financial Reports and Customized Reports for analysis.
  • Accounting Adjustments, Reclassifications and Monthly closing of Books.
  • Quarterly Revision of Financial Statements with Owners and Managers

Your CFO Level – Starting at $1150 Monthly. (Part-time CFO)

  • Based on Online Plus (paid by client)
  • Everything on Premium Level plus:
  • Create and send 1099/1096 to Independent contractors and IRS.
  • Accounts Receivables Analysis. (Only when invoiced through QuickBooks)
  • Accounts Payable Analysis. (Only when using the bill feature in QuickBooks).
  • Detailed Expenses and Cost of Goods Sold analysis on a monthly basis.
  • Unlimited Support for owners/Staff.
  • Monthly Revision with company owners.

Optional/ Additional Services:

  • Full-service payroll add $100 per month + $6 per person
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