Updated · I need a Fractional CFO

Day-one finance priorities after an acquisition

Before changing systems, establish who can see the cash position, who is authorised to approve payments and how payroll and suppliers will continue to be paid. Confirm responsibilities with the existing teams and the transaction advisers.

Create an inventory of bank accounts, reporting systems, significant deadlines and key finance contacts. Access changes need proper approvals and controls. A rushed system migration can interrupt reporting without solving the underlying process gaps.

Plan the first combined monthly close

Map each business’s reporting categories, accounting policies and period cut-offs. Identify where classifications differ before combining results. Where intercompany transactions arise, agree how they will be reconciled and addressed in group reporting.

  • Set a close calendar with preparation and review owners.
  • Agree the reporting perimeter and opening information with advisers.
  • Reconcile material balances and record unresolved items.
  • Separate normal trading from integration expenditure.
  • Present a consistent cash and performance view to management.

Acquisition accounting, tax and statutory group reporting requirements depend on the circumstances and applicable framework. Specialist work should be separately assigned rather than assumed to be covered by a management reporting project.

Track integration costs and benefits separately

Hypothetically, removing duplicate software costs is expected to save £8,000 a month. If savings begin in month four, the first six months deliver £24,000 of gross savings. Against £45,000 of one-off integration costs, the simple six-month net impact is a £21,000 cost.

That is different from treating the full £96,000 annualised saving as an immediate cash benefit. The example excludes tax, payment timing and other effects and is not a client outcome.

Record the baseline, benefit owner, expected start date and evidence of delivery. Avoid counting the same saving in several initiatives. Link the forecast to actual expenditure and update it when implementation slips.

A practical finance integration plan

Organise the work into continuity, reporting and improvement. Continuity protects cash visibility and essential processing. Reporting establishes a dependable management view. Improvement then addresses systems, controls and efficiency with a clear business case.

Each task needs an owner, dependency, deadline and completion evidence. A short risk log can surface issues that require a decision rather than allowing them to disappear into a long task list. Internal controls support and governance processes can be scoped where relevant.

Agree the integration CFO remit

Support can include an integration plan, cash reporting routine, close calendar, management pack and benefits tracker. Agree how the fractional CFO works with the finance teams, leadership and external advisers. Daily operational cover or a full system implementation may require different resources.

Start with your completion date, number of entities, current systems and the most pressing reporting problem. No confidential files are needed to enquire. Fees and involvement are agreed to match the scope. If the acquisition is still being assessed, visit M&A finance support and financial due diligence support.

Your questions, answered.

Should finance integration planning begin before completion?

Yes, where appropriate access and permissions exist. Planning responsibilities, reporting and cash visibility before completion can help the team prioritise the work afterwards.

Do both businesses need to use the same accounting system immediately?

Not necessarily. Consistent reporting and reconciliations may be possible before a migration. Evaluate the costs, dependencies and operational risks before choosing a system timetable.

Can you help with the first management reporting pack after acquisition?

Yes. A scope can cover reporting definitions, the close calendar, reconciliations and management review alongside the existing teams.