Frequently Asked Questions
How do I know if my business is ready to invest in Fractional CFO services?
Fractional CFO services are best suited for small business owners approaching or surpassing six figures. If your business is making money but struggling to see it translate into financial stability, it is time to consider investing in Fractional CFO services. Having a financial ally on your side provides the expertise, accountability, and strategic guidance you need to spend less and take home more of your profits. CLICK HERE to learn more about the benefits of working with a Fractional CFO.
Which accounting / bookkeeping software do you use?
As a QuickBooks Pro Advisor, Quickbooks Online is my preferred choice and the bookkeeping software most of my clients use.
Is my business too small for Fractional CFO support?
If your business is not yet approaching or surpassing six figures, consider bringing me on as a financial consultant instead. Financial consulting is a great way to enlist an experienced financial advisor at any stage of business. Whether you're an independent service-provider or a small business who outsources support, staying on top of your sales, expenses, and profits is paramount for long-term success. Working with a financial consultant will allow you to tap into valuable insights to fuel growth and steer clear of potential pitfalls.
When should I consider hiring a Fractional CFO or consulting a financial advisor?
If your business is making money but struggling to see it translate into financial stability, it is time to consider investing in advanced support. Another tell-tale sign is if you're feeling overwhelmed just thinking about your business finances and find yourself procrastinating or avoiding matters and tasks related to bookkeeping, cash flow, and /or taxes.
What can I expect from working with a Fractional CFO?
Partnering with a fractional CFO means gaining a dedicated financial ally who keeps you accountable, provides invaluable insights, and collaborates closely to strategize and achieve your business goals. Experience the confidence and support you need to propel your business forward with expert financial guidance at your side.
How much support can I expect from you as my Fractional CFO?
As a valued Fractional CFO client, you'll receive advanced comprehensive support, including unlimited email support, Voxer access for direct communication, a monthly video call for personalized guidance, and access to a customized financial dashboard. Choose the level of support that aligns with your business needs and enjoy peace of mind knowing expert assistance is always within reach.
Do you recommend keeping track of all my receipts?
It's highly recommended to retain all business-related receipts and expenses. These receipts serve as crucial documentation to validate your business transactions as legitimate expenses. Properly organizing and categorizing your receipts ensures accurate record-keeping and simplifies tax filing processes. Don't overlook the importance of preserving receipts— they're your financial evidence for a thriving and compliant business.
Is bookkeeping solely for tax purposes?
No, bookkeeping is far more than a last-minute tax preparation task—it's an ongoing necessity for business success. Regular bookkeeping provides real-time insights into your financial performance, allowing you to identify strengths and areas for improvement in your business. A robust bookkeeping system empowers you to make informed and strategic decisions with confidence. Don't underestimate the power of proactive record keeping—it's the cornerstone of financial clarity and business growth.
Can you assist with estimated tax payments?
As part of our comprehensive Fractional CFO services package, we meticulously plan and set aside funds for estimated tax payments. Guided by your trusted CPA or tax accountant's recommendations, we ensure that your business is well-prepared to meet its tax obligations promptly and seamlessly. Say goodbye to tax payment surprises—trust us to keep your finances on track and your tax payments covered.
Why isn’t bookkeeping not offered as a standalone service?
BasicBookkeeping and accounting are fundamental to running any business, but after more than seven years of working with small business owners, I’ve found that bookkeeping alone doesn’t provide the comprehensive financial support needed to grow and thrive. I’ve often heard things like, “My bookkeeper is great, but I need strategy and guidance to actually grow my business,” or “I haven’t heard from my bookkeeper in months and have no idea what my finances look like.” These challenges show that bookkeeping on its own isn’t enough to drive real transformation.
That’s why I include monthly bookkeeping as part of my Fractional CFO package. As a Certified QuickBooks Pro Advisor and Honeybook Finance Pro, I ensure you not only have accurate books but also benefit from strategic financial services like cash flow management, financial planning, forecasting, and planning ahead of tax season. This way, you’re covered on all fronts—not just knowing where your business stands but also knowing how to move it forward..
Do you offer tax services?
Currently, we do not offer in-house tax services. However, we’ve curated a list of trusted tax accountants and CPAs who specialize in tax planning and filing. These professionals are highly recommended for their expertise and dedication to helping small business owners. CLICK HERE for easy access to our inner circle of tax professionals.