What is a virtual CFO?
Rather than a company officer making decisions about growth and financial planning of the enterprise, a virtual Chief Financial Officer acts as a consultant to the board of directors. The virtual CFO can carry out the tasks of cashflow forecast reporting, budgeting, maintaining best financial practices and setting growth targets and make recommendations to the company directors.
The virtual CFO meets regularly with the planning team, but otherwise operates offsite. Other duties may include: bookkeeping; maintaining the compliance of all data including payments, payroll, ATO lodgements and so on.