Fractional CFO firms waste hours in QuickBooks doing ad-hoc work. Use a repeatable process: a checklist of ratios, balances, KPIs, and goal reviews. This cuts a typical six-hour analysis down to 60 to 90 minutes.
January 2, 2023.
From about 6 hours down to roughly 60–90 minutes.
About one hour.
You have to have a process in place to do financial analysis. You're ready to go, you open up their QuickBooks and you're like, okay, now what? What am I looking for? The thing that normally happens for people like us though is we'll spend six hours crunching numbers, looking at ratios, flipping back the old financials, trying to figure it all out. You turn around, it's like it's been six hours I've been sitting here and I still don't feel like I've got anything meaty to give to the client. What you've got to do is have a process for that. You got to have a framework that you walk through that says every single month, these are the things I'm going to look at. These are the ratios, the balances, the KPIs, right? These are the things that we're looking for. We're going to review their goals, how are they progressing towards the goals? How am I going to update the CFO report? This can take a six hour process and get it down to 60 to 90 minutes. You shouldn't be spending more than about an hour even on an eight figure business doing financial analysis every month.
