UpCFO
UpCFO
0

Virtual Accountant Subscription

UpCFO’s Virtual Accountant Subscription

Our goal is to help you understand the “money in / money out” story of your business.

Questions you have that we aim to answer:

  • How much money came in last month? How much of that is company revenue vs. sales tax vs. tips that I owe to my staff?

  • How much should I put away this month for income taxes?

  • What are my monthly overhead expenses? Are they trending higher or lower?

  • What are my short-term and longer-term liabilities? And how will paying these down affect the cashflow of my business?

  • How much money is available to take out of the business to pay myself without negatively affecting ongoing business operations?

How does it work?

Step One: We manage your entire day-to-day accounting department.

  • You will have three UpCFO staff members working on your account: A staff accountant/bookkeeper, an account manager, and a CPA.

  • Our staff implements accounting procedures for your company and handles the day-to-day bookkeeping tasks.

    • Sales receipts, expenses, bank reconciliations, POS reconciliations, sales taxes, etc.

    • Weekly 15-30 minute meetings with your staff accountant to review uncategorized transactions and to provide for an opportunity to ask any questions / check-in.

  • We use QuickBooks Online as the backbone to your accounting system. We then link to the QuickBooks Online account to generate our high-end internal reports for your company & forward-looking cashflow projections.

Step Two: We provide you with monthly financial statements and curated monthly internal reports for management.

  • Monthly financial statements — Income Statement (Accrual Basis), Balance Sheet, Statement of Cash Flows

  • Managerial internal reports & dashboards:

    • Data visualizations, trends analysis, margins analysis, & more

    • Curated for your company & your industry

Step Three: We provide you with CPA consultation meetings and tax preparation services, all included in your monthly subscription price.

  • A CPA oversees and reviews all monthly financial statements and reports that are delivered.

  • Your Business Income Tax Return Preparation is Included in our base subscription.

  • A CPA Year-End Review and Tax Planning Meeting in December is included in our base subscription.

  • Quarterly ‘CPA Strategic Advisor’ meetings are an available add-on for an additional $125/month.