How much of the owner's time does the first ninety days take?

Expect a few hours a week in the first month, mostly answering questions and making decisions, and then a fixed weekly and monthly meeting after that. We are careful to take work off the owner's desk rather than add to it.

Does a fractional CFO replace our bookkeeper or CPA?

No. The bookkeeper keeps recording the transactions and the CPA keeps doing tax and year end. The CFO sits between them and the owner, making sure the numbers are right, on time and used. If the books need controller capacity, we bring that in from the team.

What if the books are badly behind when you start?

That is common. Month one becomes a catch-up project with a clear end date, and we build the cash forecast from bank data and the aging reports in the meantime so the owner is never without a view of cash.

What a fractional CFO does in the first 90 days

Owners who have never had a CFO often picture someone in a corner office producing reports. The reality of a fractional engagement in a growing BC company is more hands-on than that. The first ninety days are a mix of triage, construction and planning, and the owner should know in advance what to expect from each month.

This is how we run the first quarter when Ali and the finance team take a fractional CFO seat.

Before day one

We ask for read access to the accounting system, the bank and credit facilities, the last two year ends from the CPA, the current receivable and payable aging, payroll summaries and any budget or forecast that exists. We also ask the owner for the three decisions keeping them up at night. That list sets the priorities for month one. An NDA is signed on request before anything is shared.

We also spend time with the people who touch the numbers every day: the bookkeeper, the office manager, whoever sends invoices and whoever approves purchases. Their view of what goes wrong each month is usually more accurate than any report, and the fix often lies in their process rather than in the accounting system. By the end of the first week we have a written list of what is working, what is late, what is missing and what the owner wants decided, and that list becomes the plan for the quarter.

Month one, cash and the state of the books

The first task is always a 13-week cash flow forecast, because every other decision depends on knowing how much room there is. Alongside it we assess the books: are the bank accounts reconciled, is revenue recognised consistently, are sales tax and payroll remittances current, does the chart of accounts reflect how the business runs. Where the books are behind, we agree a catch-up plan with the bookkeeper and, if needed, bring in controller capacity.

Month one also deals with the urgent items on the owner's list. That might be a conversation with the bank, a pricing decision on a large contract, a hire that is being delayed or a supplier who needs a payment plan. We do not wait for perfect data to help with those.

Month two, the reporting rhythm

With cash under control, we build the rhythm the company will run on. A one-page weekly pack for the owner. A monthly close with a fixed deadline, a standard set of statements and a short commentary on what changed and why. Gross margin by job, product or client, depending on the business. A rolling forecast that replaces the static annual budget.

We set the monthly review meeting, usually an hour with the owner and the senior team, and we hold it in the same week every month. This is the point at which the company starts making decisions from numbers rather than from memory.

Month three, strategy and the year ahead

By the third month the numbers are reliable enough to plan with. We work through pricing and margin by service line, the cost structure and where it is out of proportion, the funding position and whether the current bank facilities fit the next year, and the capital decisions on the horizon. If a loan, an investment round or an exit is in view, we start preparing the materials now.

We also meet with the company's CPA to align year end, tax planning and any structural questions, so the finance function and the external accountants are working from one plan.

What the owner has at the end of ninety days

A 13-week cash flow forecast that is updated every week
Reconciled, current books with a chart of accounts that matches the business
A weekly pack and a monthly close with commentary
Gross margin by the unit that matters in the business
A rolling twelve-month forecast and a clear funding position
A written list of the strategic decisions ahead, with the numbers behind each one

After the first quarter

The engagement then settles into a steady rhythm of a few days a month. The CFO runs the monthly review, maintains the forecast, leads lender and investor conversations, and works on whichever project is next: a pricing change, a new system, a compensation plan, a funding round or a sale. The team and the bookkeeper do the daily work. The owner gets their evenings back and a clear view of the road ahead.

Every quarter we revisit the original list with the owner and agree what the next ninety days are for.