How this usually works
A good fractional CFO process starts with a short diagnostic to confirm your goals, data quality and timelines. We look at structure (sole trader, company, trust, partnership), entities and bank feeds, your software (Xero, MYOB, QuickBooks), current reporting cadence, and any ATO or bank deadlines already in play.
From there, the work typically runs in three streams:
1) Immediate triage: stabilise cash flow visibility, address overdue BAS or payroll issues, fix critical coding and reconciliations, and design a simple weekly cash routine. If required, we coordinate with your payroll services, BAS agent and tax accountant so compliance stays on track while strategy moves forward.
2) Process and reporting design: build a rolling 13‑week cash forecast, monthly budget vs actuals, KPI dashboard (margins, CAC/LTV, WIP, inventory turns), and a board‑ready reporting pack. We set meeting rhythm (weekly ops, monthly performance) and accountability across finance roles.
3) Ongoing review and decision support: run the cadence, pressure‑test scenarios, refine pricing and margins, support lender or investor conversations, and continuously tighten handoffs between bookkeeping, payroll, tax and management reporting.
Australian context to keep in view
- Quality outcomes rely on clean bookkeeping and on‑time BAS/payroll. If those foundations need work, align your CFO scope with bookkeeping services, BAS and payroll early.
- Software depth matters. Ask for examples of dashboards and models built from Xero, MYOB or QuickBooks data—not just software names—plus how they handle multi‑currency, inventory, projects or consolidations.
- Industry nuance helps: trades and construction (WIP and cash), eCommerce (inventory and channel fees), professional services (utilisation), SaaS and startups (runway, CAC/LTV), and multi‑entity groups (intercompany and eliminations).
- Credentials and fit: look for CA/CPA or similar, relevant sector experience, clear deliverables, and a communication style that suits your team.
What to compare before you commit
Scope
Confirm deliverables and cadence: forecasting horizon (13‑week + 12‑month), KPI dashboard content, board pack structure, pricing/margin analysis, lender/investor support, and how they’ll coordinate with compliance services.
Software fit
Check how they model from your ledger, handle consolidations, and automate data (bank feeds, inventory, payroll). Ask for a sample dashboard and a short explanation of their workflow in your stack.
Turnaround and communication
Clarify meeting rhythm (weekly/monthly), reporting deadlines, escalation during ATO, payroll or board deadlines, and who covers if your CFO contact is unavailable.
Commercial fit
Understand setup fees vs monthly retainer, inclusions, overage rates, notice periods, and intellectual property for dashboards/models. Make sure outcomes map to your stage and budget.
Best next steps
Write down the 1–3 outcomes that would make this a success: “13‑week cash forecast we actually use”, “monthly board pack with budget vs actuals”, “margin clarity by product/channel”, “funding‑ready financial model”. Use those outcomes to shortlist providers, not titles.
If your need is primarily compliance or catch‑up work, start with the right page first: bookkeeping cleanup, BAS lodgements, payroll issues or tax planning. If strategy and decision support are the gap, a fractional CFO is the next step.
When you’re ready, send a short brief with your goals, timing pressure and software stack. We’ll help you find the best‑fit support.
Frequently asked questions
What does a fractional CFO do?
A fractional CFO provides senior finance leadership without the full‑time cost. Core deliverables include cash flow forecasting, budgets, KPI dashboards, board reporting, scenario modelling, pricing and margin analysis, funding support, finance team/process design, and translating numbers into decisions your team can act on.
When should I hire a fractional CFO?
Typical triggers: growth outpacing reporting, inconsistent cash, investor or lender reporting needs, a planned fundraise, unclear margins or pricing, or when the founder is still running finance. If backlog or compliance issues exist, align with bookkeeping, BAS, payroll and tax at the same time.
How much does it cost in Australia?
Expect an upfront setup to stabilise data and build your first forecast/dashboard, then a monthly retainer tied to cadence and deliverables. Light monthly oversight can start from a few thousand dollars; weekly involvement and board‑level packs typically cost more. Always match scope to outcomes and confirm inclusions in writing.
How is it different to a bookkeeper or tax accountant?
Bookkeepers reconcile and keep the ledger accurate. Tax accountants lodge and advise on compliance and tax planning. A fractional CFO turns that clean data into decisions and accountability—cash planning, budgets, pricing, funding and performance cadence. All three roles should be aligned for the best result.