Virtual CFO: documents and preparation checklist

A virtual CFO adds forward-looking finance decisions beyond transaction entry and tax filing.

For startups and SMEs scaling up, the document list should follow the actual work required. Explain your legal entity, business activity, relevant period and any pending applications or queries. A generic checklist is a starting point, not confirmation that every item applies or that no further evidence will be requested.

Prepare financials, funding commitments, cash balances, forecasts and the founders priorities.

Keep records in clearly labelled folders and preserve original dates and references. Where a record is incomplete, note who can obtain it rather than substituting a guessed figure or an unsigned draft.

Check that legal names, identification details, addresses and relevant accounting periods agree across the records. For financial work, reconcile opening balances and movements; for applications, establish who is authorised to sign and how the premises or activity is evidenced.

Expecting advisory meetings to replace missing bookkeeping or daily payment controls creates gaps.

Use an agreed secure channel for identity and financial records. Retain control of your business email and verification channels. Do not put passwords, one-time codes or digital-signature credentials in an enquiry form. Agree how delegated access is granted and removed.

Retain forecasts, board packs, decision logs and a tracked finance improvement plan.

A startup approaching a funding round should stress-test runway before negotiating its capital requirement.

Send an initial document index and list what is still missing. Ask which omissions prevent work from starting, which can be resolved during preparation and which could change the recommended approach.