CFO Administrative Support
At V1 Fund Services we understand that company’s insights, decision-making processes and the overall performance and direction of the organization have become a very important part of the CFOs responsibilities.
Our collaborative CFO Administrative Support Services are focused on turning large amounts of company data into clear, reliable information, which can be easily analyzed. Such collaboration will provide our CFO clients the vital tools needed to make quick, strategic, decisions with the least amount of risk, ultimately forwarding the company's success.
Our services include but are not limited to:
V1 Fund Services will pay the bills of the Company through various means including wire, ACH, on-line bill pay and check writing. For all recurring payment transactions, such as telephone, rent, insurance, etc., the Consultant will review invoices received, inquire of Company management regarding any unusual items on the invoices and will prepare and authorize payment of such invoices. For all non-recurring payment transactions or other specified payment transactions, such as legal fees, computer consultants, V1 invoices, credit cards, etc., the Consultant will review the related invoices, will obtain approval from Company management, and once approval is received, will prepare and authorize payment of the invoice. Generally, recurring transactions will be paid by the Consultant based on pre-approval of the vendor, but the Consultant will review invoices and will request approval from Company management, prior to payment, if they notice, in their judgement, anything new or different regarding the charges by the vendor. Generally, non-recurring transactions will be paid by the Consultant once Company management provides approval for the specific vendor invoice(s). Non-recurring transactions will include payments for legal fees, computer consultants, fixed asset additions, invoices of the Consultant and other charges that the Consultant may not be in position to approve payment without the approval of Company management. An updated list will be maintained of recurring and non-recurring vendor payments that will be reviewed with Company management on a quarterly basis.
V1 Fund Services will handle the processing of the Company’s monthly payroll through ADP. It is anticipate that the Consultant will move to ADP’s on-line platform. Payroll related services will include updating employee payroll information, processing the monthly payroll in accordance with Company instructions. All changes to employee compensation levels and bonuses will be approved by client prior to the V1making changes to the ADP monthly payroll. V1 will also assist the client with any payroll related filings for taxes, workers compensation, etc.
V1 Fund Services will assist with the determination of periodic distributions to the Members of the Company in accordance with the client's operating agreement and other member agreements.
V1 Fund Services will make arrangements to meet with Company personnel, at their offices, on a quarterly basis to review the quarterly financial statements and cash flow. Member distributions will be reviewed and approved with client’s management. The financial results for the quarter and year to date will be reviewed with client's management.
V1 Fund Services will provide financial statements to Company management on a monthly basis. This will include a balance sheet, income statement and a summarized listing of cash transactions during the month.
V1 Fund Services will maintain the general ledger and other books and records of the Company. This will include recording entries in the general ledger for cash transactions, payroll, income and expense accruals, fixed asset accounting, etc. V1 will reconcile bank accounts, credit card accounts and other asset and liability accounts on a monthly basis.
Year-end Tax Services
V1 Fund Services will coordinate the year-end tax services for the Company with the Company’s tax preparers. This will include providing them with requested information, assisting them regarding tax determinations and elections and reviewing the year-end tax filings. V1 will assist with making the filings on behalf of the client as needed.
V1 Fund Services will maintain Company files and source documents in primarily electronic form. Such files and documents will be made available to the client as requested and as agreed to from time to time.
Regardless of the client’s industry focus, V1 Fund Services clearly understands that our clients need for our services, whether it’s part- time or long-term, depends on the size and complexity of their organization.
Therefore, high emphasis is placed on budget conscious customized solutions to meet each client’s specific need. More