What is a Virtual CFO and what do they do?
The VirtualChief Financial Officer (CFO) – or outsourced CFO – is a contracted service provider who can provide critical financial management skills for SME businesses at a cost that enables significant benefits to be delivered to the business. Thanks to the internet and the subsequent development of cloud-based business management applications and communications technologies, SME businesses now have the opportunity to access the critical skills and experience necessary for the achievement of their business objectives. Typically, your virtual CFO has a number of strengths and focuses on:
- Analysis through financial reports and interpretation of these
- Oversight of the business’ finance function
- Offers insights into business operations which allow well-informed decisions to be made
- Behaves with a broader view of the client’s ethical and social responsibilities
- Heavy focus on budgeting and forecasting
- Provides performance management support
- Reviews risk exposures
Why should I outsource bookkeeping?
Most small and medium business owners do not have the knowledge, time or ability to effectively perform their bookkeeping duties. Outsourcing a bookkeeper will provide you with the time required to focus on your business operations.
What are your fees and can I package up different services?
The cost of our services is not such a straight forward question. There are many factors that can influence this, such as the size of the team and the frequency of the service required. Although it may seem to be a big cost to outsource any services, it’s not always the case. Having qualified professionals taking care of your required services has many advantages.
Outsourcing can be considerably cheaper than hiring an employee internally to carry out tasks. Fixed fee outsourcing is a good way to ensure your costs don’t blow the end of year, end of quarter or end of the month outcome.
Consider outsourcing your requirements to keep costs fixed, helping with cash flow and to fend off those surprising bills. An all-inclusive package can be tailored to your requirements.
We can create a fixed cost package to suit your requirements. It can include only one of our services or multiples of them. We will sit down with you and evaluate your needs. We will then build an affordable fixed cost package specifically tailored for your business needs.
Why should I go with you?
We often speak to clients who have not had much success with overseas services and want someone they know they can rely on. Someone who understands business in Australia and that is important.
Why do I need bookkeeping?
Having a good bookkeeper will ensure you have efficient accounting systems. This helps you manage the critical components of your business.
What is an Executive Virtual Assistant and what do they do?
An Executive Virtual Assistant is an administrative professional that works from the comfort of their own home office or leased office space or anywhere they want to be!
An Executive Virtual Assistant does the majority of things that a personal assistant or executive administrator does, but they’re never in your office. Answering telephones, replying to emails, invoicing your clients. Anything you can do online, your Executive Virtual Assistant can help you with.
Will you sign a confidentiality agreement?
Yes – this is part of our Service Agreement. It protects you and us and benefits all parties.
What is BAS?
If you are a business registered for GST you need to lodge a business activity statement (BAS).
Your BAS will help you report and pay your:
- goods and services tax (GST)
- pay as you go (PAYG) instalments
- other taxes.
When you register for an Australian business number (ABN) and GST the ATO will automatically send you a BAS when it is time to lodge.
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