Virtual CFO & project finance
Finance support that owners can act on
A monthly finance review, bank finance documents prepared the way credit teams assess them, and reporting packs that make the audit straightforward.
Virtual CFO
Monthly finance review
Each month you receive a finance pack and a review meeting.
Timing
The pack is shared within an agreed number of working days after we receive closed books. A 60-minute review is held every month and a deeper review every quarter.
Who attends
The owner or a director, your accounts head and the Taxsavo professional responsible for the engagement.
What you provide
Books closed for the month, bank statements and the sales and purchase registers.
Scope
What a Virtual CFO engagement covers
Your books
Kept by your accountant or by us under a separate bookkeeping scope. Monthly close needs an internal accountant or our bookkeeping service.
Data cut-off and turnaround
Books closed by an agreed date each month; the pack follows within an agreed number of working days.
Forecast horizon
Cash flow for the next three months, rolled forward monthly; annual budget prepared at the start of the year.
Meetings and actions
A monthly review meeting; every action has an owner and a date and is followed up at the next meeting.
Onboarding
The first month is spent on a review of the books, a chart of accounts check and agreeing the pack format.
Not included
Statutory audit, bank or treasury operations, signing authority and decisions that remain with management.
Project finance & bank reporting
What you receive for a bank loan
Projected financial statements
Profit and loss, balance sheet and cash flow for the loan tenure, with the assumptions written out.
CMA data
Credit monitoring arrangement data in the format banks use to assess working-capital limits.
Working-capital assessment
Holding periods for stock, debtors and creditors, and the limit they support.
Project report
The business case, cost of the project, means of finance and repayment capacity.
New project or working capital: a new project is assessed on its cost, means of finance and repayment capacity; a working-capital limit on the existing business, its holding periods and its track record. Projections state their assumptions and show how sensitive repayment is to lower sales or margins. Requirements differ by lender and borrower, so the checklist is confirmed for each case.
Bank queries: we answer the bank’s questions on the projections and CMA data for an agreed period and number of query rounds. Appraisal and sanction are decided by the lender. Valuation reports, legal opinions and stock audits are outside the engagement.
Sample checklist
What a bank usually asks for
- Audited financial statements for the last three years
- Income tax returns and computations for the same years
- GST returns and bank statements for the last 12 months
- Debtors and creditors by age, and the latest stock statement
- Sanction letters and statements for existing loans
- KYC documents of the business and its promoters
Financial reporting & audit readiness
Project reports, CMA data and working-capital assessment →
Books that are ready for the audit
We prepare the reporting pack and the audit schedules. The statutory audit itself is carried out by your auditor.
Financial statements in Schedule III format
Draft balance sheet, statement of profit and loss and notes, prepared from your trial balance.
Year-end close checklist
Cut-off, accruals, provisions and reconciliations, each ticked off with evidence.
Audit schedules
Fixed assets, debtors, creditors, loans, and GST and TDS reconciliations, ready for your auditor.
Exceptions register
Open items with their value, owner and the action needed before the audit.
Want a monthly view of your numbers?
We will walk you through a sample pack and agree what your review should cover.