Outsourced Chief Financial Officer and Chief Operations Officer positions serve to satisfy the needs of investment managers in various situations. For managers who find that their full-time resources are not fully utilised, who need to create bandwidth for internal teams, or who need to temporarily fill positions – outsourcing these rolls solves these problems in an efficient, cost-effective manner.
IQ-EQ can perform virtually every task that an in-house CFO and /or COO would provide for private equity funds, hedge funds, portfolio companies, and other various structure types.
Our service offering:
- Maintain books and records in QuickBooks
- Provide cash controls, including entering expenses into the chosen payment system for approval and release by Client
- Perform cash and credit card reconciliations
- Perform expense processing and bill payment using Bill.com
- Review and process employee expense reports, as applicable
- Work with your PEO provider to assist with payroll processing and benefits, as appropriate
- Directly receive vendor invoices, review them for appropriateness, process them for payment, and retain appropriate records of each transaction
- Report quarterly financial positions/reconciliations to management
- Prepare customized quarterly financial statements and a formal financial statement package at year-end to be provided to tax preparer (unaudited)
- Setup a calendar that provides for the on-time payment of the annual franchise tax to avoid penalties, among other things