Frequently Asked Questions
Got Questions?
We've got the answers.
If you still have questions or thoughts, please contact us - we’re here and always happy to help as best we can.
What is a virtual CFO?
A virtual CFO or Chief Financial Officer is often considered a right hand person of a CEO or the directors or the business owners of a company. A CFO will provide the accurate data for decision making, make the directors aware of the risks and opportunities out there, and help in strategically growing the business. It’s applicable to a start up or an established business desiring further growth or something in the middle. A virtual CFO comes at a fraction of the cost of a similar in-house role.
How's your bookkeeping different from the other services?
We are Ethical. That means we work on the basis of transparency, accountability and accuracy. We are a great team of qualified and experienced accountants with an amazing pool of resources and talents. And that means immaculate books at all times which are complete and accurate. We are tech-savvy and believe in the magic of systems and automations. And finally, we do bookkeeping that is tax-ready and profit-focussed.
How are you different from my tax accountant?
First of all, we are not tax accountants. Your tax accountant lodges your annual tax return, which means they come into the picture once a year. We, on the other hand, work with you throughout the year. We set up annual budgets and help you understand how your performance is tracking against that budget. We help establish metrics, cost centres and forecasting so you know your cash and revenue positions in advance, not as a rude surprise! We are your finance managers or CFOs you can rely on all year.
Why do you specialise in women-led businesses?
Although we work with everyone, we proudly specialise in women-led businesses. We intuitively understand how women think, and the questions, strengths and challenges they have. Ethical CFO was born when we realised the strong need for women to have proper finance advice and bookkeeping in a safe environment. One of our accountants was part of a situation where a woman business owner asked a male accountant what it meant by ‘Average monthly revenue’, only to be mocked by him. We want to ensure that NEVER happens.
Can I have just one service, either bookkeeping or CFO service?
Of course. You choose what level of service you need and we tailor it for you.
Where are you located and do you service my area?
We work 100% remotely. So we work with clients nationally within Australia. And we have the know-how to make it work for all parties. Remember what we said about the magic of systems and automations? That plays a big part here!