Virtual CFO Service
Outsourced and Virtual CFO Services Oshawa, Ontario
Oshawa Virtual & Outsourced CFO’s
Our Outsourced and Virtual CFO services provide you the following values
Business accounting, tax laws and regulations are rapidly changing making business financial needs and reporting more complex. Often your existing financial infrastructure and accounting reporting aren’t giving you the kind of visibility you need to make confident, financially sound decisions re: growth.
Your requirements depend on the needs of your business. We take action-oriented analysis pretty seriously, helping our companies establish KPIs and regular financial reporting as a strong foundation. From reviewing budgets and cash forecasts to helping you raise cash, establish cash reserves, and properly incentivize your employees, we’re here to help your company maximize profits and minimize taxes, and to meet the financial needs of your growing company.
Our Pinnacle packages deliver you to the highest point possible Strategic Planning+ Financial Management designed to take your business to the next level. Your CPA Pro. is your CFO…. on speed dial.
Even though we KNOW accounting, we’re not so different from you. We’re a small business too – and yes – we are professional accountants and small business mavens who *get* all this accounting and tax stuff. In fact, we’re confident that we are even super awesome at it.
But, the bigger truth is that we think we are a lot like you, too. We are small business owners with a vision, and a mission, of making a difference in the lives of those we serve, and the lives of our families. We know that there is likely no limit on the day-to-day struggles you face; keeping all the plates spinning while wearing too many hats, as you build and grow your own small business.
Now, with every big dream there must be a plan… and with every plan there must be information. In our world, it’s the DATA that breathes life into the small, and large, financial decisions you make nearly every minute of every single day.
We want nothing but the absolute best for you and your business. And, the best decisions? The best decisions are made when they are rooted in truth, not grounded in opinion. This is where we play our part, and why making sure the truth about your business is always known, with rock solid systems that give you the answers you need – right when you need them most
Payroll
Employees, Contractors, and Affiliates. Oh my! We keep you protected + running street legal. Our payroll services include HR advisory support for your business.
Tax Preparation + Filing
No dread. No stress. No worry. We’ve got you covered during tax season. Tax services are held exclusively for our clients to serve you better. Our flat-rate prep + filing fees per return per year can’t be beat!
Business Support
It takes more than numbers to know and grow your worth. People, sales, marketing, processes – all matter. Our team is your secret weapon for results! Our support services include Business Entity Setup to give you a rock solid start.
Coaching + Mentorship Programs
We KNOW business beyond accounting. We love on our clients with a teacher’s heart. Our coaching, training + mentoring partnerships are key to growth + accountability.
Got a question or a comment contact us? We would love to connect with you!
Virtual CFO Services Pricing
Call us here: (647) 466-7181 / 289-316-2062 FREE
Our pricing policy is fixed
Your quote is not an estimate. We learn what you need and then use specific criteria to itemize a set price. When you receive a quote from one of our authorized representatives, this price is all-encompassing, and unless circumstances change, there will be no hidden costs or miscellaneous fees
We price weekly so as to be treated as a member of your team, not simply another vendor you work with. Your employees won’t increase their rates like a vendor might, and neither will we. We’re not a traditional accountant that you see once per quarter or once per year. We’re an extension of your team!
Onboading Period**
Financial Statement*Includes income statements, balance sheets, industry financial comparisons and many more. Prepared by the 20th of each month.
Individual Tax Return*Individual tax returns are only prepared for company shareholders.
Business Tax Return
Tax Planning*Handled on regular basis, throughout the year to avoid surprises.
Email Support
Phone Support
Virtual Meetings*We converse regularly over shared screen meetings, video and phone chats, and e-mail.
Accounts Payable*We provide this service or you can keep it in-house, if you prefer.
Accounts Receivable*We provide this service or you can keep it in-house, if you prefer.
Cash Flow Management*Cash flow meetings are conducted weekly for about 30 minutes to go over the short-term cash flows (2 to 6 weeks)
12 Month Forecasting
Bank Relationships*We’ll be your main point of contact and chief advocate for credit increase, or additional financing your business may require. We can also help during M&A activities.
KPIs*We work with you to report on numbers you and your team really care about.
Custom Compensation
Director Meeting
Payroll Management
AVERAGE $89/Week
BOOKKEEPING
Onboading Period**
4 Weeks
Financial Statement
Individual Tax Return
Business Tax Return
Tax Planning
Email Support
Unlimited
Phone Support
Unlimited
Virtual Meetings
Typically 1x/Month
Accounts Payable
Accounts Receivable
Cash Flow Management
12 Month Forecasting
Bank Relationships
KPIs
Custom Compensation
Director Meeting
Payroll Management
AVERAGE $399/Week
CONTROLLER
Onboading Period**
6 Weeks
Financial Statement
Individual Tax Return
Business Tax Return
Tax Planning
Email Support
Unlimited
Phone Support
Unlimited
Virtual Meetings
Typically 1x/Month
Accounts Payable
Accounts Receivable
Cash Flow Management
12 Month Forecasting
Bank Relationships
KPIs
Custom Compensation
Director Meeting
Payroll Management
AVERAGE $699/Week
VIRTUAL CFO
Onboading Period**
8 Weeks
Financial Statement
Individual Tax Return
Business Tax Return
Tax Planning
Email Support
Unlimited
Phone Support
Unlimited
Virtual Meetings
Typically 1x/Month
Accounts Payable
Accounts Receivable
Cash Flow Management
12 Month Forecasting
Bank Relationships
KPIs
Custom Compensation
Director Meeting
Payroll Management
** During on boarding, our team works hard to get caught up with your existing processes. We’re looking at your past books, we’re building a forecasting model and set of KPIs, and we’re doing an audit of your financial statements / chart of accounts to make sure we’re all on the same page and getting started on the right foot. Due to increased man hours those first few weeks, our published fees are 2X during each level’s respective on boarding period.
Here’s how we typically work with growing companies:
How does it work?
The relationship works best if we are part of your weekly director meeting. We often provide a 15-minute cash update or set aside time to chat about the company’s finances. Joining these regular meetings with your directors also gives us get a good understanding of your company and culture, and helps us stay up-to-date on current events.
After an initial on boarding period, here’s what a typical month could look like:
- WEEK ONE – invoicing meeting
- WEEK TWO – books are closed + forecasting meeting + financials/KPIs
- WEEK THREE – follow-up projects
- WEEK FOUR – follow-up projects
We are always available anytime during the month for questions, calls, impromptu meetings, etc. We find that this schedule works best for most clients, but it is definitely tailored to fit each client.
Also, if we are paying bills as part of the engagement, we will meet weekly for about 15-30 minutes to go over cash flow for the next 2 to 6 weeks. This is generally conducted with an individual team member, not the entire director team.
We offer a number of other negotiated-fee services:
- Personal and Business Tax Preparation and Planning
- Virtual CFO Consulting
- Prepare and Process Tax Payer Relief
- Financial Statements Preparation
- Payroll Management Services
- Business Formation, Selection and Structure
- Professional Bookkeeping Services
- Consulting and Management Advisory
- Accounting staffing
- Representation at CRA Audit
- Not-For Profit Accounting and Government Reporting
- Sales Taxes
- Estate / Trust Administration and Tax Returns
- Receivables Management, Including Factoring, Collection and PO financing
Inside Our Outsourced And
Virtual CFO Process
We leverage technology to offer virtual CFO services
ONBOARD
Discovery, Assessment & Initial Recommendations
PLAN
Forecasting, Goals, Prioritization & Take-Up Action
MANAGE
Virtual Meeting, Continued Strategy & Forecasting
GROW
Maximize Profits, Minimize Taxes, Build Wealth
We offer a transparent pricing model that adds structure to our relationship with you, your other company shareholders, and your team.
We’ve got four different value tiers:
- a) BOOKKEEPING – bookkeeping + tax returns + strategic planning
- b) CONTROLLER – above, +handling accounts payable & receivable,
- c) VIRTUAL CFO – above, +bank/financing relationships, +KPI tracking
Here’s what you get with our Virtual CFO service:
- More time to focus on new services, new customers and other core business issues. Let our Virtual CFO focus on the numbers and you can focus on the business.
- Better understanding of the financial side of your business, so you have fewer surprises and more control over the money.
- Improved decision-making capabilities from clearly seeing the hard and true numbers of your business. Our clients typically meet with one of our Virtual CFOs on a weekly basis with a one-hour predetermined weekly meeting.
- A readily available sounding board to help you with those tough business decisions and help you clarify your business plans. No questions are off limits.
- The comfort from knowing that a professional is overseeing, protecting and constantly improving the financial side of your business.
- A professional who establishes strong financial controls in your business to reduce employee theft and increase profits.
- Training and managing your accounting staff. We can be your back office staff, or we can manage your staff for you.
- Improved quality and timeliness of financial information. All financial reports and Key Performance Indicators (KPIs) are presented prior to the 15th day of the closing of the month.
- Budget preparation and monitoring are performed by our Virtual CFO on a monthly basis. Forecasts are updated to reflect how actual results impacted them.
- Profitability analysis by service or product line. Which products should we focus our sales efforts on? Where should we increase our margins?
- Tax planning is extremely important for a growing business. Our Virtual CFO team monitors your tax situation to ensure funds are set aside for taxes, quarterly payments are made, and there are no surprises at tax time.
If that is not enough, our Virtual CFO Service also provides the following:
- Cash management, the key to financial success. Our Virtual CFO team’s goal is to build a cash reserve equal to 10% of your annual revenue if you are a service company, or 10% of your gross profit if you are a manufacturing company. How much stress would that remove from your life?
- Trend analysis. How is your company performing compared to the industry, to the forecast, to prior periods? Our Virtual CFO team will break that down for you.
- Assistance in defining long-range plans and the quantification of goals.
- Liaison with bankers, attorneys, vendors, insurance agents, etc.
- Assistance in obtaining financing from banks, including assistance with negotiations.
- Review/negotiation of insurance policies.
- Development of company accounting procedure manuals.
- Analysis of equipment purchases, expansions, etc.
- Mergers and acquisitions assistance
- Custom designed collection policies and procedure
The list is really endless on what a Virtual CFO can do for you and your company.