Membership Services Agreement

Welcome to the ResultsCFO community!  We would like to thank you for the opportunity to work together.  Our relationship with you is important to us; therefore, we strive to meet your needs and exceed your expectations.  Our primary mission is to strengthen local communities one business at a time, and that business is yours!

ResultsCFO’s Commitment to you and your business:

RCFO represents that it will provide, deliver and perform its Membership Services in a professional manner through professionals qualified to provide, deliver and perform said services.


RCFO Membership Plans

Core

Enhanced

 

Core

  1. Business Intelligence & Analytics - RCFO will prepare and timely deliver the following reports:
  • Bi-Weekly:
    • Outstanding Bills Report (OSB)
  • Monthly Report Package – provided by the 20th of the next month
    • Profit & Loss
      • Budget v Actual
      • By Class or Job (if applicable)
      • Current Year v Prior Years (up to 3)
    • Balance Sheet 
      • Current Year v Prior Year
    • 360 Executive Command Center
  • Annual Report Package
    • Budget for the coming year
      • Once approved RCFO will enter into QBs
    • 360 Performance Review (immediate past year)
    • Improvement Action Plan for the coming year
  • Client will have access to RCFO’s cash flow tool
  1. Office Hours, Online Strategy and Action Plan Sessions
  • Office Hours. Client will be provided a link to schedule as needed up to a 30-minute meeting with their CFO.  The purpose of these meetings will be to address pressing questions or issues that cannot wait until their monthly meeting.   Various times will be available each week for ease of scheduling
  • Monthly Strategy and Action Plan sessions. 1 session per month during the course of the membership term
    • Assess previous month’s results of 90-day action plan
      • Review prior month Member action items
      • Review financials
        • Budget v Actual
        • Cash Projections
        • Vital Sign Score
        • KPIs and other Metrics
      • Interpret results
      • Provide insight based on results
    • Adjust 90-day action plan based on results
    • Discuss current issues, challenges and concerns
    • Layout Client and Member actions for the next month
  • Annual Strategy and Action Plan session.  1 session per year during the course of the membership term
    • Assess the previous year’s results
      • Financials
      • Accomplishments
    • Collaboratively Design the Optimize 2 Maximize Blueprint for coming year
      • Develop budget for the upcoming year
      • Develop annual goals for the coming year
      • Develop 90-day action plan for upcoming year
  1. General duties and responsibilities
  • Client will provide RCFO timely and accurate information and/or access to said information
    • Client understands and agrees that RCFO is relying on Client providing RCFO access to said information to perform the services outlined in this Membership Services Agreement and the Client Enrollment Agreement
  • RCFO, in collaboration with the Client, will develop a 90-day rolling action plan focused on making improvements in the business
  • The services provided by RCFO will be focused on improving the overall financial health and performance of the business and working with the Member to create a business that will be one of the most valuable assets on the business owner’s personal financial statement
  • RCFO will utilize The RCFO Business Wealth Formula™ to focus the conversations of each session and develop 90-day action plans around improvements to cash flow, profit margins, business growth, and owner independence
  • Quality control reviews and reconciliation of Client’s financial transactions
  • Client’s CFO will be accessible by email, during normal business hours, with a maximum response time of 48 hours
  1. Services not included in Core Membership Plan
  • Management of Client’s current accounting department functions; including but not

limited to:

    • Document management services
    • Data entry of financial transactions into Client’s current financial application
    • Oversight and management of Client’s Accounts Payable process and the payment of Client’s bills
    • Oversight and management of Client’s payroll functions
    • Oversight, management and collection of Client’s Accounts Receivables
  • Oversight and management of Client’s licensing and other compliance matters
  • Development of financial models and customized reports, other than those mentioned above
  • One-off projects requested by the Client, including capital acquisition, company valuations and assessments, and software evaluation, audits, analysis, implementation and/or integration
  • Drafting of corporate documents, including but not limited to contracts, agreements, leases, promissory notes, corporate minutes, corporate formation, etc.
  • Human Resources (HR) related issues

SERVICE LIMITATIONS

RCFO will not be responsible nor obligated to perform any services outside the scope of those services outlined above based on the membership level Client has opted for.  The subscription fee is based on the parameters set-forth in your Member Enrollment Agreement

The general terms and conditions of your membership can be found at MEMBERSHIP TERMS AND CONDITIONS.

Enhanced

  1. Database management
  • RCFO will be provided access to Client’s current QuickBooks (QBs) database(s)
    • Upon Client’s authorization, RCFO will convert Client’s current QBD database to a QBO database
    • RCFO will manage and maintain Client’s QuickBooks (QBs) database
  • RCFO will enter data bi-weekly into Client’s QB database
  • RCFO will enter all General Ledger adjustments and journal entries, as needed and required
  1. Document Management and Storage
  • RCFO will provide Client access to RCFO’s online data repository cloud (RCFO’s cloud)
  • Client will upload to RCFO’s cloud any and all documentation to support the transactions being entered by RCFO to Client’s QBO database file
  • RCFO is not responsible in any manner for the files stored in RCFO cloud repository
  1. Accounts Payable (A/P)
  • RCFO will timely enter all vendor bills into Client’s QBs database
  • RCFO will process all vendor payments and record said payments into Client’s QBs database
  • Client will timely comply with RCFO’s A/P process
    • Client will provide RCFO with the information, files, documents, etc. for RCFO to properly record and process Client’s A/P
    • RCFO will prepare and provide Client access to RCFO’s standard Outstanding Bills report
    • RCFO will process all A/P payments timely requested by Client
  • RCFO will provide Client its 1096, by Jan 25th of each year, for Client’s 1099 vendor payments for the previous year
    • RCFO will file Client’s 1096
  • RCFO will provide Client, by Jan 25th of each year, all required 1099s for Client’s vendors for the previous year
    • Client will be responsible for the delivery of said 1099s to its vendors
  • Client will provide RCFO with fully completed and executed W9s for all of Client’s required 1099 vendors
  1. Accounts Receivables (A/R)
  • RCFO will provide quality control monitoring and reporting of Client’s A/R
  • Client will enter all A/R invoices and related transactions into Client’s A/R
  • Client will be solely responsible for the collection of Client’s A/R
  1. Payroll
  • Client will continue to use its third-party payroll vendor to process and deliver its payroll to its employees
  • Client will provide RCFO full access to its third-party vendor online portal and/or account to allow RCFO to obtain the necessary and required payroll information for accurate and timely recordation into Client’s QBO
  • RCFO will record payroll as a journal entry into QBs by pay period at the end of each month
  1. Reconciliation
  • RCFO will perform on a monthly basis:
    • An interim reconciliation to be completed on a biweekly basis of all bank and credit card accounts
    • A month-end reconciliation to be completed of all bank, credit card and loan accounts covered by this engagement
  1. Business Intelligence & Analytics
  • Bi-Weekly:
    • Outstanding Bills Report (OSB)
  • Monthly Report Package – provided by the 20th of the next month
    • Profit & Loss
      • Budget v Actual
      • By Class or Job (if applicable)
      • Current Year v Prior Years (up to 3)
    • Balance Sheet
      • Current Year v Prior Year
    • 360 Executive Command Center
  • Annual Report Package 
    • Budget for the coming year
      • Once approved RCFO will enter into QBs
    • 360 Performance Review (immediate past year)
    • Improvement Action Plan for the coming year
  • Client will have access to RCFO’s cash flow tool
  1. Office Hours, Online Strategy and Action Plan Sessions
    1. Office Hours. Client will be provided a link to schedule as needed up to a 30-minute meeting with their CFO.  The purpose of these meetings will be to address pressing questions or issues that cannot wait until their monthly meeting.   Various times will be available each week for ease of scheduling
    2. Monthly Strategy and Action Plan sessions. 1 session per month during the course of the membership term
      1. Assess previous month’s results of 90-day action plan
        • Review prior month Member action items
        • Review financials
          • Budget v Actual
          • Cash Projections
          • Vital Sign Score
          • KPIs and other Metrics
        • Interpret results
        • Provide insight based on results
      2. Adjust 90-day action plan based on results
      3. Discuss current issues, challenges and concerns
      4. Layout Client and Member actions for the next month
  • Annual Strategy and Action Plan session.  1 session per year during the course of the membership term
    • Assess the previous year’s results
      • Financials
      • Accomplishments
    • Collaboratively Design the Optimize 2 Maximize Blueprint for coming year
      • Develop budget for the upcoming year
      • Develop annual goals for the coming year
      • Develop 90-day action plan for upcoming year
  •  
  1. General duties and responsibilities
  • Client will provide RCFO timely and accurate information and/or access to said information
    • Client understands and agrees that RCFO is relying on Client providing RCFO access to said information to perform the services outlined in the agreed upon scope of work of this proposal
  • RCFO, in collaboration with the Client, will develop a 90-day rolling action plan focused on making improvements in the business
  • The services provided by RCFO will be focused on improving the overall financial health and performance of the business and working with the Member to create a business that will be one of the most valuable assets on the business owner’s personal financial statement
  • RCFO will utilize The RCFO Business Wealth Formula™ to focus the conversations of each session and develop 90-day action plans around improvements to cash flow, profit margins, business growth, and owner independence
  • Client’s CFO will be accessible by email, during normal business hours, with a maximum response time of 48 hours
  1. Services not included in Enhanced Membership Plan
  • Oversight and management of Client’s licensing and other compliance matters
  • Development of financial models and customized reports, other than those mentioned above
  • One-off projects requested by the Client, including capital acquisition, company valuations and assessments, and software evaluation, audits, analysis, implementation and/or integration
  • Drafting of corporate documents, including but not limited to contracts, agreements, leases, promissory notes, corporate minutes, corporate formation, etc.
  • Human Resources (HR) related issues

SERVICE LIMITATIONS

RCFO will not be responsible nor obligated to perform any services outside the scope of those services outlined above based on the membership level Client has opted for.  The subscription fee is based on the parameters set-forth in your Member Enrollment Agreement

The general terms and conditions of your membership can be found at MEMBERSHIP TERMS AND CONDITIONS.