Accountancy for growth

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Virtual FD

What’s the big idea?

The big idea also happens to be a beautifully simple one. Our VirtualFD initiative gives you all the benefits of having a Financial Director on your side, without exposing yourself to the complications, risks and drawbacks of actually employing one. It’s a service that’s perfect for forward-looking enterprises that are going places: those organisations and businesses who understand that in today’s commercial arena it sometimes pays to think differently and buck convention.

At Balance we’ve seen first-hand how expanding businesses tend to grow to a point where their financial matters deserve the attention and expertise of a Financial Director. In fact, we’ve personally helped dozens of businesses reach this milestone in their commercial lifecycle. The problem is that more often than not, recruiting, employing and retaining a Financial Director is anything but plain sailing – in fact it’s a gamble that could cost you heavily or even have disastrous consequences for your long-term bottom line. Here’s why:


There’s no escaping the immediate and ongoing financial costs of employing a full-time Financial Director, including recruitment fees, high salaries and all the benefits and entitlements that go hand-in-hand with senior positions.


We’re not ones for being melodramatic, but recruiting a Financial Director who isn’t up to the job could be the last commercial decision you ever make. The person you appoint will have huge responsibility and direct control of your organisation’s finances: they need to be superb.


Needing a Financial Director’s expertise is one thing, but there’s a very good chance that you don’t actually need one full time. Great news you might think, except that finding a good part-time FD could take far longer than you can afford to be without one.


A talented Financial Director is worth his or her weight in gold, but ironically that can create real difficulties and commercial vulnerability when they’re not around. Maintaining continuity and keeping things consistent is a must.

How does it work?

With VirtualFD, we’ll act as your company’s Financial Director by providing you with all the specialist skills, services and expertise you’d enjoy if you recruited one yourself. We’ll essentially become an integral part of your team, every bit as committed to your financial health, commercial success and continuing growth as you are. On a day-to-day level this frees you up to focus on running your business while we take care of the nitty-gritty financial stuff that gets in the way. In the long run, a move like this could prove the making of your business.


Some of the practical benefits of VirtualFD include:

  • Monthly management accounts – preparation and/or review
  • Budget preparation and monitoring
  • Rolling cash-flow forecasts
  • Attendance at monthly meetings
  • Dependable, consistent availability and communication throughout the course of the partnership
  • Direct contact with your bank manager and/or other key business relationships
  • Support and/or training of the accounts team
  • Annual compliance service for year-end accounts, audit and taxation (business and personal tax)
  • Unlimited access to the entire Balance team, not just the ‘board’ member
  • Mutually agreed time spans built around your business

What are the real-world advantages?

Practicalities like the ones detailed above are great, but the real beauty of VirtualFD is the fact that this is a service that is definitely greater than the sum of its parts. It’s the bigger picture and the real-world advantages that really prove a hit with those clients who sign up to it.

  • Company owners and managing directors find their working day is transformed when responsibility for their business’ financial management is no longer theirs. ¬†Senior figures are left to get on with the things they’re best at, while enterprise and creativity flourish in the extra time and headspace that becomes available.
  • Our outside perspective breathes new life into businesses. ¬†Working with us at such a close and involved level means you’ll really get the most from our experience, expertise and intuitive feel for what makes businesses work and grow.
  • With such a qualified and reputable team at your disposal, gone are the stresses, uncertainties and risks that come from operating outside your comfort zone in an arena as critical as finance.

Who does it suit?

We’ve never believed in a one-size-fits-all approach to accounting, so our VirtualFD service is always carefully designed around the very specific needs of individual clients. This means it’s suitable for a wide range of businesses and situations, although in terms of the company lifecycle it generally comes after our Start-up and BoardView services.

Typically, VirtualFD is used by forward-thinking organisations that have reached the point where the expertise of a Financial Director is the only way to safeguard its financial interests and the best way to guarantee its continued growth.