Daily Financial Housekeeping
In addition to financial acumen and expert advice, Virtual CFO services provide assistance with the daily ins and outs of your company's bookkeeping. Whether you need assistance processing payroll, invoicing clients, or paying the bills, we'll help you manage your day-to-day back-office housekeeping.
Benefits of Outsourcing Your Daily Financial Housekeeping Tasks
Sure, you may be able to handle the daily tasks associated with your business's bookkeeping, but why would you want to when you can enjoy all the following benefits and have more time to carry out your unique responsibilities as owner or CEO.
For a business owner or CEO, bookwork should be synonymous with busy work. Of course, you can handle it, but should you?There are core functions of your business that need your attention that only you can do. You could also sweep your own floors and squeegee your own windows, but are those kinds of housekeeping tasks really worth the CEO's precious time? Probably not.
If you're like other busy business owners, you are trying to squeeze all of your housekeeping tasks into a single day in the office or into the last hour of your workday. If you are, you're bound to rush and make mistakes.
Errors are a normal part of being human, but when you don't always have the time, energy, or resources to give your complete attention to bookkeeping and accounting tasks, you'll make more mistakes than you should. In the back-office functions, errors can be costly. They not only have the potential to lead to tax and non-compliance penalties, but they also affect the accuracy of your financial reports, on which most of your business decisions should depend.
When outsourced to a Virtual CFO, you can be assured that your daily back-office tasks will be completed with accuracy and efficiency as the priority is should be.
Protect Your Business from Fraud
As a small or medium-sized business owner or CEO, you may not have the resources or desire to hire full-time people in your bookkeeping and accounting department to instill proper checks and balances within your policies and procedures. For example, the person responsible for writing checks should not be the same person responsible for balancing bank statements. If you only have a part-time bookkeeper, dual control simply isn't possible.
A Virtual CFO comes with the expertise needed to design sound bookkeeping and accounting systems, policies, and procedures for your business. Your outsourced CFO will provide built-in checks and balances. You won't have to worry about potential losses due to operating inefficiently or taking unnecessary internal risks in your back office.
In-house employees get sick, go on vacation, and sometimes quit unexpectedly, leaving their employers and businesses with no one to take care of their basic back-office duties. This can lead to things piling up, late payments, unsent invoices, unbalanced accounts, errors, and payroll delays that all have the potential to seriously hurt your business.
With a Virtual CFO on your side, you'll never have to worry about additional coverage or training within your bookkeeping and accounting department. With SBA CPA, you'll have constant access to back-office assistance.
Whether you hire us to handle all of your back office needs or bring on a Virtual CFO to help out while an employee's away, your bookkeeping and accounting systems will continue to run smoothly and you'll continue receiving accurate financial reports as expected.
Don't Let Your Back Office Bury You! Get Help from a Virtual CFO
Daily financial housekeeping responsibilities shouldn't be a source of stress for any business owner or CEO. With a Virtual CFO, you'll never have to worry about balancing statements or accumulating data entry ever again.