For virtual CFO services
Monthly reporting for virtual CFO services
A virtual CFO service is usually run by an accounting practice for its small-business clients: a monthly or quarterly advisory meeting built around a board report, budget against actual, cash and a short list of actions. The report is the agenda; Magic MIS builds it from each client's trial balance.
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Every figure shown here is invented for illustration. Nothing on this page is computed from anyone’s accounts.
Virtual CFO and fractional CFO describe different services
| Item | Virtual CFO, a practice service | Fractional CFO, an individual |
|---|---|---|
| Who delivers it | An accounting or advisory firm | A senior finance person, part time |
| Typical client | Owner-managed business | Investor-backed or scaling company |
| Rhythm | A monthly or quarterly advisory meeting | Embedded weekly; attends board meetings |
| Core document | Board report: budget against actual, cash, KPIs, actions | Board pack and investor update |
A fractional CFO? See the fractional CFO page.
An advisory meeting built around the report
- The ten-second summary: profit, cash, and whether the business is on budget.
- Budget against actual: each material variance with a reason; favourable means better for profit than budget (variance analysis).
- Cash: where it went, what is due, and runway where it matters.
- Three KPIs the owner chose, the same three every month, so the trend means something.
- Actions: two or three things to do before next month. Where to act drafts suggestions to consider (not tax, legal or audit advice) as a starting point; you decide what to recommend.
A Brisbane landscaping business's October, $12,000 under budget
An invented client:
| Line | Actual ($) | Budget ($) | Variance ($) | Item |
|---|---|---|---|---|
| Revenue | 214,000 | 230,000 | −16,000 | Adverse |
| Materials | 71,000 | 78,000 | +7,000 | Favourable |
| Wages | 82,000 | 80,000 | −2,000 | Adverse |
| Overheads | 38,000 | 37,000 | −1,000 | Adverse |
| Operating profit | 23,000 | 35,000 | −12,000 | Adverse |
Operating profit was $23,000, $12,000 below budget. Materials were $7,000 under budget.
That two jobs slipped into November after wet weather is the adviser's to add; every number is calculated from the ledgers and opens to the accounts it came from.
Why practices run their virtual CFO reports on it
- The same format for every client. Each client's ledgers are placed once on the same report lines, so every board report reads the same way and juniors can prepare them.
- A fast refresh. Next month, upload the new trial balance; only new ledgers need placing.
- The budget beside the actuals. Enter it on the company's budget grid, line by month, or fill the grid from last year's figures or a spreadsheet you already have.
- In the meeting. Present shows the board full screen with the client's logo; click any figure to trace it, and change a chart by asking, with Undo.
Prepaid credits, no subscription and no per-client plan: every action shows its price before it runs, and each company you keep has a monthly memory fee. See the credit packs. The limits: one login per account, a simple projection rather than scenarios or three-way forecasts, no consolidation and no live ledger connection.
What practices running virtual CFO services ask
What should a virtual CFO report include?
A summary, budget against actual with reasons, cash and runway, three to six KPIs, and a list of actions.
How often should the meeting be?
Monthly for clients with tight cash or fast change, quarterly for stable businesses; the report refreshes either way.
Can I bring in the client's budget?
Yes: on the company's budget grid, line by month, filled from last year's figures or from a spreadsheet you already have.
Will my client see the AI?
They see the report and, if you choose, a read-only link. Copy the commentary into your own document to edit it before it goes out.
Read next
- The monthly board report for Australian businesses, and how to build itWhat an Australian monthly board report covers — P&L for the month and year to date, balance sheet, cash, GST owed, KPIs and commentary — built from the trial balance.Read
- Monthly reporting for fractional CFOs: the board pack without the rebuildHow a fractional CFO keeps one mapping per client, rebuilds the board pack from each month's trial balance and spends the month on judgement rather than on spreadsheets.Read
- Client reporting software for accounting firms and CAS teamsManagement reporting across a portfolio of clients, without a junior rebuilding each workbook by hand. One mapping per client, reused every month, with every number traceable.Read
Build next month's board reports for your clients
Create an account, load last month's trial balance, and get the report — paid per action.
Prepaid credits, no subscription.