Setting up finance before hiring a full-time CFO
Most growing companies do not start with a full-time CFO. They build finance in layers: reliable books, then review and reporting, then planning. Understanding the layers helps founders choose what to add next.
Bookkeeping
Recording transactions, reconciling accounts and producing monthly statements. Everything else depends on this being accurate and on time, so it is usually the first layer founders put in place.
Controller-level review
A controller owns the close, checks accuracy, manages accruals and builds controls. In smaller companies this is often part-time or provided by an outside firm.
Fractional CFO
A fractional CFO focuses on forecasting, fundraising, pricing and strategic decisions on a part-time basis. It is most useful when the first two layers are solid.
What to check
- Which layer is weakest today
- Decisions coming up in the next year
- Whether books close on time
- Budget for each layer
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Frequently asked questions
Can one firm provide all three layers?
Some firms do. Others specialize in one. Ask which layers a firm covers and who does each.
Is this founder finance guide advice?
No. Sam's List writes these guides for education. They describe common questions and processes, not advice for your specific situation.
Sam's List is a directory. Listing or paid status does not imply endorsement or ranking.