There are a number of reasons why a small business should use a Virtual Financial Officer service, including controlling back office costs, gaining access to additional financial and accounting expertise and freeing up time to focus on their core activities.
Our VFO service utilises technology to enable you to make the right decisions for your business. We will provide you with monthly, quarterly and annual management accounts so that you will remain well informed of the performance of your business, and help you prepare a budget to keep your business on track with its goals.
The service is designed to take your business to the next level – providing insightful, thought provoking advice on a regular basis.
The advantages of using a Virtual Financial Officer include:
Free up time – your time and the time of your staff to concentrate on the task they are the most cost-effective at.
Monitor and improve cash flow – through improvement of your accounting systems and procedures which can include debtor management.
Review business performance – using budgets, key performance indicators and monitoring systems..
Supervise, support and training the finance teams – provide additional support and experience to your finance team.
Prepare monthly, quarterly and annual accounts –Small businesses often underestimate the importance of having up to date figures to analyse and use as guidance for the future growth of their business.
Our outsourcing solution will be tailored to the unique needs of your business and we aim to be completely paperless by using online accounting software including Sage and Iris Kashflow.
Our tailored service can outsource specific office processes on a weekly or monthly basis to support your business including:
Maintaining the business accounting records,
Advice on product pricing
Cash flow and profit forecasts
Monthly management accounts
Payroll and automatic enrolment compliance
Corporate and personal tax return compliance
Attendance at board meetings