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What Ways Can A Virtual CFO Protect Your Non-Profit?

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Is the business side of your non-profit getting a little overwhelming?

Many times it is a good idea for a non-profit to outsource their financial department with a virtual CFO.

A virtual CFO will help your organization optimize efficiencies, reduce overhead, and protect you from fraud and irresponsible accounting.

With virtual CFO services, you will have more time to be the leader and the face of your non-profit organization.

So, why should a non-profit be worried about fraud?

A 2012 study done by the Association of Certified Fraud Examiners found that small businesses are the most common targets of employee fraud.

The reasons for employee fraud vary, but normally the employee has negative personal feelings that they hold against you and your business.

Some non-profit organizations may think that they will avoid employee fraud by having a friend or family member do the accounting.

By taking this route, you may avoid fraud, but you will probably end up ruining the personal friendship or relationship. By hiring a virtual CFO, you are preventing employee fraud, as the vCFO has no personal feelings toward you, and you are not risking a relationship status.

Besides preventing fraud, hiring a vCFO has many other benefits.

Your organization will be immensely reducing the amount of financial paperwork, automatically taking your level of sustainability up a notch, and it will also be easier to track financial documents as they will be in the cloud and not in a file cabinet.

Your organization will also be saving money day-to-day and in the long run.

A vCFO can do all of the things that you need done to keep your organization rolling.

  • cash-flow forecasting
  • break-even analysis
  • debt planning & reduction
  • variable vs. fixed expense reporting
  • budget-to-actual reporting

Contact us to get a quote for virtual CFO services. With years of diverse accounting experience under our belt, we are here to offer you financial accuracy without the headache.

 Learn more about our Virtual CFO Services

Topics: Accounting Advice