We’ve worked with a ton of tech and creative startups, here are just some of the ways we help.
We offer anything from bookkeeping and day-to-day accounting support up to CFO consulting, which includes cash flow and forecast planning. Our packages can be customized to fit your company’s needs and can be adjusted up or down as you grow!
We also offer the option to “hire” a part-time contract CFO or Controller if you need someone more hands on for your business.
We are technically a CPA registered accounting firm, but our services are a bit different than your average firm. Our focus is assisting companies with the operational and reporting side of accounting on a monthly or weekly basis, as opposed to an annual basis. We keep a working relationship with our clients and act as their virtual finance team so that all aspects of their accounting cycle and reporting are taken care of each month.
A Virtual CFO has various terms. However, in our words, it’s simply a part-time Chief Financial Officer, or Controller who manages the finance and accounting function of a business virtually. The tasks include but are not limited to bookkeeping and day-to-day work, financial review and reporting, strategic planning and forecasting, and cash management.
We are not limited to a specific size of business, however, we ideally will work with smaller sized businesses until they are large enough to hire a full-time CFO, Controller, or finance team. This could be any business that is pre-revenue or startup sized, all the way up to a business earning $10M+ in annual revenues.
Pricing is something we usually determine after our initial consultation. Since our packages are customized based on each size and nature of business it isn’t something we can quote until we have an initial conversation to determine what you are looking for on a monthly basis. However, we have broken out our 3 main packages here so you can see where you might fit before our consultation!
It all depends on where you are at with your business. The idea is to take away the tedious accounting work from business owners so that you can focus on doing what you do best – growing your business! At the same time, understanding where your business is financially is so important when you are looking to grow or plan for the future. We’ve had clients come on board within the first few months of incorporation! The benefit of this is that all the accounting apps and processes are set up right away to create a strong foundation as they grow.
We don’t offer annual tax services but we partner with a few great accounting firms that will handle all your year end filings! Having said that, we do provide support with other tax services such as sales tax (GST/HST and PST), and employer health tax returns.
We think of a “Virtual CFO” as almost everything in one. The benefit of having a virtual CFO is that you are technically getting someone (or a team) that will provide each level of service for you. Typically, a full finance team would look like this:
Depending on the Virtual CFO package you go with, you could potentially get a small piece of each one of these roles. However, usually clients will start with a bookkeeper/controller role until they are ready to grow and require more strategic CFO advice.
Although we specialize in helping tech-based companies (such as SaaS, e-commerce, online services, etc) we generally work with all types of industries. The key is that there is a willingness to move your full accounting process online and into the cloud (if it isn’t already). We are unable to work with any companies using desktop accounting software or that requires someone to work in-house.
Of course! This is a crucial time to get your accounting and reporting in place so that you have something to show investors or lenders. We would recommend starting with our “Startup” package which would include everything you need to get up and running so that you are ready to provide support to your potential investors! We could also provide support with your pitch deck and supporting financial forecast, if needed.
Most of our team is located in beautiful Victoria, BC. However, we help companies all over Canada, as well as in the US and parts of Europe. With the technology available to us these days, we can still provide the majority of our services all over the world.