FINANCE
Finance Knowledge Base
For Virtual Teammate — browse by category, then dive into subtopics.
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Finance Overview (Virtual Teammate Context)
Foundations
How money flows and what “healthy margin” means inside Virtual Teammate.
- How money flows in Virtual Teammate
- Client → Virtual Teammate → VT payment structure
- Difference between company revenue and VT pay
- Markup, margin, and profitability basics
- Internal finance vs client finance responsibilities
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Client Billing & Revenue Handling
Billing & AR
Invoices, cycles, adjustments, and payment confirmation—done cleanly and consistently.
- Client billing models (monthly retainer, hourly, dedicated VT)
- Invoice creation and components
- Billing cycles and cut-off dates
- Add-on charges and adjustments
- Credits, refunds, and proration
- Late payment handling and follow-ups
- Payment confirmation and receipt tracking
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Accounts Receivable (AR)
Billing & AR
Track unpaid invoices and follow up with clear escalation rules.
- Tracking unpaid invoices
- Aging reports (current, 30/60/90 days)
- Client follow-up procedures
- Escalation process for overdue accounts
- Recording partial payments
- Resolving billing disputes
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Accounts Payable (AP)
AP & Expenses
Pay vendors on time with proper approvals and clean documentation.
- Vendor payments
- Software and subscription expenses
- Recruitment-related expenses
- Office/admin expenses
- Payment scheduling and approvals
- Expense documentation and receipts
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Payroll & VT Compensation
Payroll
Timesheets → cut-offs → payouts. Keep it accurate, predictable, and documented.
- VT payment structure (hourly vs fixed)
- Timesheet tracking and validation
- Overtime and overage hours
- Payroll cut-offs and pay cycles
- Payslip preparation
- Payroll discrepancy handling
- Contractor vs employee awareness (no legal advice)
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Bookkeeping Basics (Company-Level)
Bookkeeping
Clean categorization and matching = reliable reporting and fewer surprises.
- Chart of accounts (company-specific)
- Revenue categorization
- Payroll cost categorization
- Operating expenses categorization
- Bank feed transactions
- Matching deposits and payments
- Month-end closing support
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Bookkeeping Support for Clients
Bookkeeping
Support the client’s finance hygiene without overstepping boundaries.
- Recording client income
- Categorizing expenses
- Expense reimbursement tracking
- Vendor and supplier records
- Basic transaction cleanup
- Supporting accountant/bookkeeper (not replacing)
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Financial Reporting Awareness
Reporting
Know what the numbers mean so you can support accurately and communicate clearly.
- Profit & Loss statement understanding
- Revenue vs cost vs profit
- Gross margin per client/VT
- Monthly financial summaries
- Budget vs actual tracking
- Internal finance dashboards (if applicable)
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Financial Metrics
Metrics
Key KPIs that help you spot risk early and understand business impact.
- Revenue per client
- Cost per VT
- Gross margin per VT
- Client lifetime value (LTV)
- Client churn impact on revenue
- Utilization rate
- Break-even awareness
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Payment Platforms & Tools
Tools
Where money moves—and what to verify before marking anything “paid.”
- Stripe (subscriptions, invoices, payouts)
- PayPal (client payments, VT payouts)
- Wise (international transfers)
- Payoneer
- Bank transfers and confirmations
- Payment reconciliation basics
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Accounting Software Exposure
Tools
Navigate the basics safely—especially permissions and role limitations.
- QuickBooks (basic navigation)
- Xero (basic navigation)
- Creating invoices
- Recording payments
- Running basic reports
- User access limitations and roles
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Financial Data Management
Bookkeeping
Organize files so anyone can audit, trace, and understand quickly.
- File organization for finance records
- Invoice and receipt storage
- Naming conventions
- Secure sharing of financial documents
- Version control awareness
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Compliance & Risk Awareness
Compliance
Protect data, avoid overreach, and recognize red flags early.
- Confidentiality of financial data
- Access control and permissions
- Avoiding tax and legal advice
- Contractor payment sensitivity
- Client data separation
- Fraud awareness and red flags
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Internal Finance SOP Awareness
SOPs
Know the cadence and the “who approves what” so nothing slips through.
- Daily finance tasks
- Weekly finance tasks
- Monthly finance tasks
- Approval workflows
- Escalation paths
- Documentation standards
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Client Communication (Finance Context)
Scenarios
Say the right thing, with the right tone, and escalate when needed.
- Professional finance email etiquette
- Payment reminders wording
- Invoice explanations
- Handling sensitive conversations
- Escalating client concerns internally
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Common Finance Scenarios
Scenarios
What happens in real life—and the cleanest way to handle it.
- Late client payments
- Client pauses or cancellations
- VT replacement cost impact
- Billing errors and corrections
- Payroll mismatches
- Currency differences and conversion issues
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Scaling Finance Operations
Scaling
Keep accuracy high as volume grows—without burning out the process.
- Handling more clients without errors
- Automation awareness
- Template usage
- Batch processing
- Reporting consistency
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What VTs Should NOT Do
Guardrails
Clear boundaries to protect clients, Virtual Teammate, and you.
- Give tax advice
- Change billing without approval
- Process refunds without authorization
- Share financial access credentials
- Access unrelated client financial data
No results found. Try “billing”, “AR”, “payroll”, “Stripe”, or “bookkeeping”.