Virtual CFO FAQs

Have a question? Please see below or contact us.

Are you a virtual CFO?

A virtual CFO (or outsourced CFO) provides small to medium businesses with access to specialised business financial management experience on a part-time basis. Our virtual CFO services will give your business better financial control, planning and analysis, performance reporting and visibility over your business financials.

By the way, we don’t love the term ‘virtual’ because we think it suggests we operate remotely. We much prefer being in your business and working with you and your team directly.

Why should I engage a VCFO?

You’ll get quality, experienced insights and financial analysis to help you make better business decisions. Our services ensure the fundamentals of your financial management and control are operating as efficiently as possible. That way, you and your management team can focus on planning forward.

Are your services ongoing or ad-hoc?

We prefer to work with you on an ongoing basis, because we believe being part of your business month-in and month-out will bring you the greatest benefits. That said, we can of course cater to one-off or ad-hoc pieces or work, such as preparing for a restructure, merger or acquisition.

Where do you work and how often will we have contact?

We prefer to work at your place of business, but when we’re not there we’re always an email or phone call away. We consider the businesses we work with our partners and we like to be part of your team.

Can you help with my business and personal tax?

No, tax is an entirely separate specialist area of accounting. You need an accountant who is a registered tax agent for both your business and personal tax returns and advice. We focus only on operational and commercial finance and accounting for your business.

Can I afford your services?

You pay for results and value, not time and expenses. You should never worry about being charged for picking up the phone or emailing a question. We work with you to tailor a solution that suits your specific needs, and for ongoing services we agree a fixed monthly fee. One of the great things about working with a our service is flexibility, which means you don’t pay for what you don’t need.

How does your work affect my tax accountant or auditor?

We don’t take the place of your tax accountant or external auditor. Instead, we work closely with them to provide the information they need for things like BAS returns, tax returns, and preparation of annual financial statements.

In many cases we can actually help reduce your accounting fees through the provison of a cleaner set of accounts for your tax accountant to work with.

What is the typical size of businesses you work with?

We usually work with businesses that have been operating for 12 months or more.  Turnover ranges from about $1 million to about $20 million, but there’s no hard and fast rule. And in terms of number of employees, the average is between five and forty employees.

What if I have my own finance team already?

Great. Absolutely no problems at all. We can work with your current team, or we can look at a complete outsourced solution for you.

What if we grow enough to employ our own CFO?

Nothing makes up happier than to see you and your business succeed! If you grow to the point where you need your own CFO, we will be delighted to work with you and your new CFO on a seamless and smooth handover.