Outsourced Finance Management for Small Businesses

Outsourced finance management gives your business the oversight of a finance manager without the cost of a full-time hire. Business Ninjas looks after the numbers that drive decisions, so you can focus on customers, staff and growth. Because we work 100% remotely, we support small businesses anywhere in Australia.

Many owners end up as the finance department by default. They do the books at night, guess at cash and only see results at tax time. Instead, our service puts a clear process and a regular rhythm around your finances.

What outsourced finance management covers

We tailor the scope to your size and stage. In most cases, it includes:

• Oversight of bookkeeping, payroll and reconciliations
• Monthly management reports and a short review call
• Cash flow forecasting and cash planning
• An annual budget, with a mid-year check
• Debtor and creditor management, including follow-up processes
• Coordination of BAS and tax deadlines with our tax team
• Support with lender, landlord or investor information

Day-to-day bookkeeping and payroll are done by our sister business BN Books. Meanwhile, tax returns and BAS lodgement sit with BN Tax. We bring it all together, so you deal with one team rather than three providers.

Signs you are ready for outsourced finance management

• You are not sure how much cash you will have next month
• You only find out how the year went when the tax return is done
• Your bookkeeping is up to date, but nobody explains what it means
• You are planning to hire, borrow or open a new location
• Different advisers give you different numbers

If two or more of these sound familiar, an outside finance manager is usually worth a conversation. In other words, you get answers before you need them.

How we work with you

First, we start with a discovery call and a review of your current records and reports. Next, we agree on a monthly rhythm, for example a reporting pack by the 15th and a 30-minute review call. Then we set up the forecast, budget and reports, and we keep them current.

Because the work is remote, meetings happen by video or phone at a time that suits you. Likewise, documents are shared securely online, so there is no paperwork to post.

Who this service suits

Outsourced finance management suits established small businesses that have outgrown a bookkeeper alone. For instance, it works well for professional services firms, clinics, online stores, hospitality venues, trades businesses and not-for-profits. It also suits owners who want a sounding board for money decisions.

Why outsource rather than hire?

A full-time finance manager is a big fixed cost for a small business. On the other hand, an outsourced team scales with you. You get forecasting, budgeting and reporting skills when you need them, and you are not paying for idle time.

You also keep control. We explain the numbers in plain English, so you can make the decisions with confidence. For an overview of the kinds of outside help available, see the business.gov.au page on getting help with your finances.

Related advisory services

Outsourced finance management usually brings together our cash flow forecasting, small business budgeting and business performance reporting services. When you are ready for bigger changes, our business growth consulting work builds on the same numbers. To see the full range, visit our business advisory services page or head back to the Business Ninjas home page.

Frequently asked questions

What is outsourced finance management?

It is an external team that manages your business finances on an ongoing basis. That includes forecasting, budgets, reporting and coordinating bookkeeping and tax, without hiring a full-time finance manager.

Is this the same as bookkeeping?

No. Bookkeeping records transactions accurately. Outsourced finance management uses those records to plan, report and guide decisions. We coordinate the two, with bookkeeping done by BN Books.

Do you also lodge my tax and BAS?

Tax returns and BAS lodgement are handled by our sister business BN Tax, so your deadlines and your finance plan stay in step.

How often will we meet?

Most clients have a short monthly review call, with more frequent check-ins during busy periods or when making a big decision.