The day-to-day finance work done properly every month, by a team that works as your own finance department, with a CFO looking over it.
Most growing businesses reach a point where the bookkeeper is stretched and a full internal finance team is still too much. Our outsourced finance team fills that gap. It is the team underneath the Finance Hub, run by chartered accountants from our North Sydney office, for businesses with revenue from around $1 million to $50 million.
An outsourced finance team takes on the work an in-house finance department would do: payroll review, BAS, bank reconciliations, accounts payable and receivable, the general ledger and the monthly reports. A financial controller makes sure all of it is accurate and on time. In our Finance Hub that team works with a virtual CFO, so the numbers it produces are turned into decisions.
A financial controller runs the finance function day to day. They make sure transactions are recorded properly, the month is closed and reconciled, payroll and BAS are right, and the reports that leave the finance team are accurate. A bookkeeper records the transactions; a CFO uses the reports to guide the business. The controller is the role that makes sure what the bookkeeper produces is fit for the CFO to rely on.
| Role | What they look after |
|---|---|
| Bookkeeper | Recording transactions, data entry, the first pass at reconciliations |
| Financial controller | Accuracy and timeliness: reviewing the books, closing the month, payroll, BAS and the monthly reports |
| Virtual CFO | Turning the reports into decisions: forecasting, cash flow, scenario modelling and governance |
In the Finance Hub the outsourced finance team carries the controller’s work, and a virtual CFO sits above it. You can start with the team and add more CFO time as the business needs it.
Reconciliations slip, BAS is a scramble and the monthly numbers arrive late or not at all. The business needs someone checking the work, not more hours of data entry.
A move into a group of companies and trusts brings intercompany transactions and consolidated reporting that a single bookkeeper is rarely set up to manage.
A finance manager has left, or the business is not yet ready to hire one. An outsourced team keeps the month running while you decide.
A bank, investor or buyer is about to look closely, or the directors want monthly reports they can make decisions from.
Many clients keep their own bookkeeper or finance manager for the day-to-day entries. The outsourced team works above them, reviewing what they produce, designing the reporting and closing the month, which is often more effective than replacing a person who knows the business. Where there is nobody in-house, the team takes on the whole function. Either way, the scope can change as the business grows, including bringing in-house staff under our oversight.
It starts with a conversation about where the finance function is today and what it needs to do. Where the books are clean and current, we can usually start within two to four weeks of that meeting. Where they need work first, onboarding takes four to eight weeks, and our accounting clean-up team brings them up to date before the monthly work begins.
The outsourced finance team is part of a Finance Hub engagement, a monthly fee usually between $3,000 and $15,000 depending on scope, agreed in a fixed-fee proposal before the work starts. What moves the fee is set out on the Finance Hub page.
A first conversation is enough to see where the gaps are and what a team would take on. We will tell you plainly whether you need us, and how much.
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