Virtual CFO Services

Focus mainly on SMEs and Startups with less than 200 crores turnover per annum

Outsourcing of entire F&A and compliance with complete ownership

Alliance with company secretaries, auditors, GST and TDS consultants, legal counsels for respective subject matter expertise or consulting

Working with the entities closely for a period of 9-12 months by deputing our team in those companies reporting to us directly

VCFO to report to management on all F&A activities

Banking, funds planning and day-to-day accounting

Reporting from the accounting system of the entity with less repetitive and manual work

Documents and Files management System - Both physically and electronically with systematic numbering and naming process for quick access and retrieval when needed

Internal Audit of F&A operations

Transaction-wise audit

Mostly monthly during the first week of the month, auditing the transactions of preceding month

Reporting deviations in transactions, approvals, computations and filings

Corrective measures and training on them

Starting next month audit with implementation of corrections of previous month audit report and reporting the same

Direct reports to management for decisions and discussions

To sync up with the statutory audit so that we save time at the end of the year

Process audit

Listing down the processes involved in F&A department

Listing down every procedure and steps to do the processes

Audit of every procedure listed above

Mostly monthly during the first week of the month, auditing the transactions of preceding month

Reporting deviations in processes

Corrective measures and training on them

Starting next month audit with implementation of corrections of previous month audit report and reporting the same

Direct reports to management for decisions and discussions

ERP evaluation and complete audit on its process flows and deviation mapping (mainly inhouse developed)

SOP and Process Documentation for F&A

Documentation of Standard Operating Procedures of F&A function permanently as a one-time activity – As-is-where-is

Discussing with team, management and other critical stake holders to refine and make the first version

Implementing the same, training and ensuring adherence

Version changes internally and periodically based on addition / deletion / improvisation of processes internally with laid down approvals

Keeping an owner for the same intenaly to ensure the above happens under our supervision

Complete SOP, workflow and process level implementation support for inhouse ERP's

Costing and Pricing – For Manufacturing and also for service industries

Both for manufacturing and service industries especially project-oriented entities where project-wise manpower is the key information for costing

Scientific method of computing costs for the products or services with simulation

Using mainly the accounting system of the entity and within the framework

Documenting, training and ensuring adherence

Version changes internally and periodically based on addition / deletion / improvisation of processes internally with laid down approvals

Keeping an owner for the same intenaly to ensure the above happens under our supervision

Periodic and Decision-making MIS reporting

Assessing the business

Analyzing existing reports and mode of taking them

Discussing with the team and management for want of more useful reports

Understanding the reporting needs based on VCFO judgement

Designing the reports

Bringing the designed reports from the accounting system used by the entity

Ensuring them to be made and available for management on prescribed times

Necessary customization and improvisation based on business needs periodically in sync with the management and business needs

Budgeting and cash flow reporting with actual and previous period comparisons for better business tracking

Turnaround plan and rehabilitation of sick units

Working with the company for six to twelve months closely

Assessment of entity on business, reasons for sickness and documenting

Plans to turn around the entity, if possible

Discussion with management and devising revival plans

Implementing the revival plans

Winding up methods in case of no possibility for revival

Vendor due management and closure

Managing the entire business of the company based on the available funds till it is revived or wound up