Considering a Virtual CFO – It is a Great Investment!

Hiring a virtual CFO is a great investment for your small business. Virtual CFOs offer helpful financial advice, like the best way to fund your business. In addition, they handle tasks like bookkeeping and tax compliance that take up a lot of time. They automate accounting processes, so you can focus on growing your business.

Here are major reasons to contract virtual CFO services:

Records Management

Virtual CFOs, like those from Tialma, save you time by managing financial transactions. Aleksey Krylov manages Tialma, and he creates and manages systems for recording financial transactions. They enforce rules to protect the organization’s money.

They originate ideas about automation solutions for more efficient accounting work. They help create budgets and forecasts to set financial goals. This foundation aids strategic planning, reducing taxes and improving cash flow and profit. They help you handle money, track records, and create crucial financial statements.


Virtual CFOs collaborate with the executive team to match the budget with the organization’s goals. They make sure money goes to projects that help the company’s goals. Budgeting is elemental for tracking expenditures in the future. Virtual CFOs play a key role in analyzing future revenues and costs. They drive estimates for the future costs and profits to ensure accuracy in predictions. Hiring a virtual CFO saves you time and prevents financial errors. It also helps your business grow.

Accounting Software

A virtual CFO chooses and manages accounting and financial software systems. The organization may need different software, like QuickBooks or Oracle, to manage its resources. For startups, QuickBooks and Xero are popular choices, but there are other options available. The selection depends on factors like cost, features, scalability, and user-friendliness. The virtual CFO oversees the implementation of the selected software. To get started, you need to create user accounts and set up the chart of accounts. Then, you can customize the software to fit your organization’s needs.


The virtual CFO usually assigns payroll tasks to HR or finance department. They oversee to ensure accuracy and timely payment. This includes verifying the accuracy of salary calculations, bonuses, and deductions. The virtual CFO makes sure the organization follows all tax rules for payroll. This includes processing income taxes, Social Security, and other taxes, among others.


A virtual CFO creates and maintains financial policies and procedures for accurate reporting. These policies specify how we record, verify, and report financial data. A CFO oversees the collection and analysis of financial data. They work with finance teams to make sure financial information is accurate and complete. A Virtual CFO creates standard financial statements. The income statement, balance sheet, and cash flow statement show how the company is doing financially.

Tax Compliance

The virtual CFO manages tax planning, finding ways to reduce tax liability within legal boundaries. The organization can benefit from identifying tax credits, deductions, and incentives. Proper record-keeping is essential for tax compliance. The virtual CFO keeps accurate financial records for taxes and audits. The virtual CFO manages tax returns, like income tax, sales tax, and payroll tax, for the organization. They ensure that these returns are accurate, complete, and submitted on time.

If you want to focus on growing your business, hiring a virtual CFO can help.