Many large businesses have the luxury of a Chief Financial Officer (CFO), and many small businesses need one but cannot justify the cost of employing a full time CFO.
Storey & Associates Ltd offer small to medium businesses our Virtual CFO services where we can handle your accounting systems, debt control, cashflow projections, financing, loans and even staff management issues, without you needing to hire a staff member to do them internally.
Other services we offer include: KPI monitoring, liaison with banks / lawyers, debt collection, legal structures and ACC.
How will a Virtual CFO benefit your business?
- CFO’s understand the language of finance and accounting allowing us to:
- Negotiate better finance rates
- Taxes correctly calculated, filed and paid on time
- Keep your working capital / cashflow freed up – Du Pont Growth formula – with substantial reductions in overdraft interest costs
- We know what KPI's to watch out for and how to improve them
- Storey & Associates Ltd has been working with small to medium businesses for over 18 years, so we have the experience and expertise to provide you with reliable accounting advice
- A Virtual CFO will get the accounting done for you saving you time and allowing you to spend more time elsewhere
- We can set you up with bank statement based recording systems like Xero, SAASU and AIMS to help streamline your accounting
Frequently Asked Questions
Q: How does it work?
A: We will work with you once a month to keep on top of your accounting needs, usually this is incorporated with GST returns. We can review KPI’s – ie. debtor days (45 days + = management in crisis), gross profit / cost of goods sold %, turnover days, profit, provisional tax reviews.
Accounts Receivable (what clients owe you at the end of last month) = x
Sales Turnover (last 12 months) = y
x/y = Debtor Days
(If greater than 45 days = management in crisis! - Give us a call)
Q: Who needs a Virtual CFO?
A: SME’s – Small to Medium businesses. Typically from 1 man bands to 25 employees.
Q: How much?
A: $200 + GST per month.
Q: How long does it take?
A: 1 hour per month.
Q: What do I need to do?
A: Come in and see us – work through the issues you face in your business. Work out what your KPI’s are, because what you can measure – you can manage.