Virtual CFO Service

  • Vance & Associates, CPA, P.C.

This is a wholistic service ushering the company with a team which includes the CFO, Senior Accountant and Tax Specialist to guide the financial strategy of the business.

We join or you create a weekly leadership council meeting to discuss what is going on in the business. The primary purpose of our participation in this meeting is for us to listen and provide financial insight when needed. During that meeting, we would present the company’s current cash position as well as update you on any project or topics that we are working on. We will also review and discuss the policies that pertain to the financial arm of the business.

On a regular basis we would also do a deep dive into your company and analyze the company’s profit per client, employee, type of work, and type of billing to help the company get a better understanding of where there is room for improvements. We would identify the company’s Key Performance Indicators (KPIs) — cash in the bank, production metrics, financial metrics and pipeline metrics — and use those KPIs to report on performance and share the results with management on a monthly basis. With this service, anything goes - We are your CFO.

Leading banking relationships, helping with mergers and acquisitions, creating incentive programs for the team, building scaling analysis reports, and creating departmental micro budgets are just a few things that would be included. While we would want to have set meetings to cover financial matters, we are always available to discuss strategy and work through opportunities and issues as they arise.

Depending upon the additional services that you have selected the senior accountant will be managing your internal bookkeeping team or our own to ensure financial statement accuracy. In essence the senior accountant handles most of the day-to-day type questions, however he/she will be heavily assisting with analysis and planning. The senior accountant will be able to easily step in and cover for the CFO during vacations or other outages.

The tax specialist is in the background and will join in on meetings as advanced tax topics come up or toward the end of the year when we begin to the tax planner. The tax specialist will be consulting with the controller throughout the year on tax projections to advise on the amount of money to be set aside so there are no surprises at the end of the year.