What is a VCFO?
A virtual chief financial officer (VCFO) is an outsourced accounting service provider that gives you access to crucial business accounting services usually reserved for a full-time chief financial officer but at a more economical cost. Virtual CFO services are perfect for growing businesses that need professional financial advice but can’t afford a full-time, in-house CFO, or for bigger businesses that want to minimize costs. While a standard CFO may bring his or her personal experience to the table, Abby from Abigail Y. Murray CPA, LLC, gives you full access to a dedicated accounting expert that has over decades’ worth of experience. Her VCFO services can be custom-tailored to fit your business’ needs, and she will work with you to meet all of your accounting essentials, from payroll to strategic business planning.
What Our VCFO Can Offer Your Business
While our VCFO services are meant to cover any financial service needs your business may have, Abby also wears many other different hats; she is your point of contact, a semi-project manager, and an efficient manager of your business’ time and money. Connect with Abby at Abigail Y. Murray CPA, LLC, if your business needs to:
- Record financial transactions using source documents like bills and invoices.
- Organize post-sales transactions, inventory purchases, and company expenses.
- Compute financial transactions, payroll data, and other records to generate monthly financial statements.
- Assess business financial performances and make informed decisions.
- Assist with strategic planning and detailed forecasting to help you make the best decisions for your financial future.
- Plan effective financial processes, maintain and report financial activities, and manage financial risk.
Our VCFO can also put together an attractive financial package and present it to your banker in order to ensure you get the financing you need to reach your goals.
What’s the Difference between a VCFO and a CPA?
Plenty of key differences exist between virtual CFOs and a certified public accountant. The primary difference between the two, however, lies in what kind of goals you are looking to achieve with your business. A CPA conducts a lot more of the tax preparation/strategy than a VCFO would. On the other hand, a VCFO can develop and execute your overall financial strategy, establishing lasting policies, financial systems, and procedures that can improve the way you run your business. To analyze the differences more succinctly, a CPA is more like a contract worker, and a VCFO is like an architect. A CPA can do a lot of the bookkeeping, tax preparation, or investment guidance, while a VCFO can create whole systems that can help your financial department run more efficiently, wasting less company time and money.