What is a virtual CFO?
What are the differences between a bookkeeper, a CPA, and a CFO?
A bookkeeper records and classifies your financial transactions like invoices, bills, payroll.
A typical CPA will build upon the bookkeepers work. Managing your tax strategy and preparing financial statements. They’ll file your taxes and make sure you are compliant. But beyond that, their advice is likely slim to none.
A CFO focuses on the complete financial strategy. Bookkeeping and taxes are one just parts of that.
As your virtual CFO, we work with you remotely.
Pretend your business is a car
A bookkeeper is like someone filling up your tank every week. You’ve got to put gas in your car to keep driving it.
A CPA is a lot like the local garage that changes your oil. They’re great at the regular maintenance that’s needed to keep your car running well. But you’re not really hiring them to do any more than that.
Hiring a CFO is like hiring an a specialty mechanic + coach who will fine tune your car, guide you on the right parts to buy, and teach you how to drive your car in a way that squeezes the most performance out of your car.
Do I really need a CFO?
“It sounds great, but our company feels too small for a CFO. We could never keep them busy full time. And it’s not in our budget.” This might be true if you were looking to hire a CFO full time.
But our virtual CFO services are a perfect fit for growing shops. You add the expertise of a skilled CFO to your team, but you pay only a fraction of what hiring a full time bookkeeper, accountant, and CFO would cost you. You also gain a partner who’s invested in the long-term success of your business.