Invoicing on real time basis

CFOs ensure customer payments must be received in whole and on schedule, and expenditures must be controlled so that the company has enough cash on hand to satisfy its financial responsibilities. The CFO does this through management of Invoicing on a real time basis.

Doing Accounting on daily basis

Day-to-day accounting and financial operations are handled by your Chief Financial Officer (CFO). A company's financial position, including receivables, payables and inventories and payroll may be gleaned from the reports they provide.

Bank Reconciliation

Understanding your company's financial flow, avoiding overdraft penalties, and preventing fraud are all made easier with monthly bank reconciliations. An experienced CFO will also be responsible for managing bank reconciliation and other bookkeeping tasks since they understand your business strategy and banking relationships.

Up to date Debtor & Creditor Balances

CFOs are responsible for managing the company's capital structure by selecting the best combination of debt, equity, and internal finance. It is their job to keep an eye on the company's finances, and they must be conscious of financial variables like risk and liquidity while making investment decisions.Hence, they make sure Debtor & Creditor Balances are up to date always.

Timely filing of Tax Return

Having accurate financial results and adhering to tax duties is an indicator of a company's honesty. Tax rules and regulations can be complicated for new businesses.Therefore, the CFO ensures timely filing of tax returns and other reports.

Tax Planning

Along with timely filing of tax returns, the CFO interprets changes in the legislation and which judgments might be beneficial to the company.The CFO will also examine the tax advantages of investment, capitalization, and mergers and acquisitions possibilities.Similarly, the CFO provides tax planning resources to improve the existing tax situation and invest in and protect your assets.

Business Decisions based on Financial Reports

CFOs have extensive training and experience, and they may uncover several growth plans by analysing trends and financial reports.An experienced CFO can guarantee that your company's long-term viability is not jeopardized by overexpansion or financial shortages, allowing you to focus on growing your firm.

Instant Financial Data available for Funding, Loans, Tenders, etc

It will be necessary for CFOs to design several action plans that take into account a variety of potential future events.For example, CFOs need to prepare data to avail a business loan or apply for funding through pitch deck or business plan and prepare necessary documents to get tenders.

you can see the CFO plays one of the most crucial roles in any business. The CFO can solve all the common challenges faced by startups and small businesses. Having a CFO for your business brings a lot of value in a variety of startup firms. Moreover, not having a CFO can result in huge destruction to your business in the world of cut-throat competition.

However, not every startup can afford a traditional CFO since they are high paid experts. Besides, for many businesses having an in-office full-time CFO doesn’t make sense.Therefore, the ultimate solution for business financial needs as well as growth of your startup is having Virtual CFO Services.

With Virtual CFO, you have the same expertise for your business and unlike Full Time CFO, at very less price.

Expert Service unlike semi-skilled accountant

Owners of small businesses must always strike a balance between looking to the past and looking to the future.In the financial sector, accountants deal with the past, balancing records, reporting outcomes, and preparing tax returns for clients.CFOs are in charge of planning the company's future and developing plans, projections, and paths to get there.However, accountants might not specialize in vast fields and they cannot handle all at once. Hence, it’s beneficial for small businesses to have cost-effective and efficient virtual CFO Services.

Low Cost / No Admin / office Cost

Hiring an in-office full time CFO can cost you a significant amount of money. From paying a hefty salary to CFO to additional costs of software, the CFO expense may cut out a significant chunk of your profits.However, when you avail virtual CFO Services, the enormous volumes of data that CFOs and their teams have at their disposal are analysed mostly via the use of technology. You don’t have to pay for their software requirements, their salary, their EPF and ESIC contribution etc.

CA and CFO under one roof

As a corporate administrator, a CA has all of the necessary abilities. Auditing and taxation are two of CA's most well-known specialties.Furthermore, CA is equipped with all of the abilities necessary to manage a firm during the course. Hence, if you get CA and CFO under one roof through Virtual CFO services, your startup will be able to do the best work.

Moreover, if you already have a CA working for you, a CFO provides an outside perspective, based on industry expertise and understanding. Looking at the whole picture rather than just the numbers, a virtual CFO may be just what you need to achieve your financial goals.

Though each and every business is different and their requirements too. Our team of Virtual CFOs provide CFO Services tailored as per your needs.Some of our most common Virtual CFO Services utilized by entrepreneurs all around the globe are as follows :

• Management of Cash Flow

• Tax Return Filing including TDS Return Filing, GST Return Filing, ITR Filing

• Private Limited Company Annual Compliances

• Financial Projections

• Budgeting and Insights at critical times of decision-making

• Bookkeeping and Accounting

• Search for Funding and Availment of Bank Loans

Startup or a Small Business cannot initially afford a CFO. However, they can afford Virtual CFO Services as the additional costs and high expenses of the position are reduced drastically.

An interim CFO is typically someone who fills in for a specific length of time or in the interim between the departure of one executive and the arrival of a new one. In other words, Interim CFO is the temporary CFO.

Depending on your demands and budget, we have a variety of options available.

We work with all sorts of businesses: Small, Medium, Big or even a start-up company.

My CFO Online works virtually, so we can provide our services to you at any location.

Yes, we do provide CA Consultation with Virtual CFO Services. Feel free to contact our business advisors at +918700355692 to schedule a meeting.

The term "virtual CFO" refers to practically everything in one package. The advantage of availing virtual CFO Services is that you are officially hiring someone (or a team) to deliver each level of service of a controller, bookkeeper and CFO for you.

Of course, we do! This is an important time to get your accounting and reporting in order to attain funding. Our team of specialists can equip you with everything you need to get started and answer potential investors! We can also support you through pitch deck and business plan & project report if that's your requirement too.