How a Head of Finance Gives Your Business Clarity and Control Over Finances

Two years ago, I sat across from the founder of a fast-growing ecommerce company. Sales were climbing every month, but so was her anxiety. She told me, “I know we’re making money, but I can’t tell you how much, or where it’s going.”

Her team had an accountant entering transactions and a bookkeeper paying invoices, but when she asked basic questions: “How much cash do we really have available?”, “Are we on budget?” No one could give her a confident answer. She was making major decisions about hiring and inventory on gut instinct, not on data.

We helped her hire her first Head of Finance, and the difference was almost immediate. By the end of the first quarter, she had financial statements on her desk that actually told her where the business stood, and whether it was on budget or off track.

The founder went from feeling like she was flying blind to knowing exactly where the business was heading. That’s what a Head of Finance does: they turn scattered data into clarity, give structure to cash flow, and make sure every number tells you something you can act on.

What a Head of Finance Really Brings to Your Business

Hiring a Head of Finance isn’t just about adding another layer of number-crunching. It’s about giving your business the ability to see clearly and act decisively. When you’re scaling, the difference between “we think we’re okay” and “we know exactly where we stand” is everything.

A Head of Finance takes scattered, reactive financial activity, like recording transactions, chasing invoices, or compiling reports, and turns it into a system that gives you control. They don’t just report on what happened last month; they build processes that let you steer what happens next.

Here’s what that control looks like in practice:

• Visibility you can trust: Financial statements are prepared monthly and reconciled against bank data, so you’re not making decisions off guesses or outdated spreadsheets.
  
  
• Cash flow confidence: Accounts receivable and payable are tracked, invoices followed up, and account balances monitored, so you know when you can invest and when you need to hold back.
  
  
• Alignment with strategy: Budgets aren’t just numbers in a file; expenses are actively tracked against them, ensuring your money is pushing growth in the right direction.
  
  
• Preparedness, not panic: Whether it’s tax season, audits, or year-end close, you already have receipts, documentation, and reconciled accounts ready to go.

The real power of a Head of Finance is that they turn finance from a reactive chore into a strategic tool. Numbers stop being something you look at with dread, and start becoming the dashboard that guides your growth.

What a Head of Finance Handles Day to Day

Record Daily Financial Transactions in Accounting Software

Recording transactions daily may sound like a basic task, but it’s the foundation for every other financial process in your business. Without it, expenses slip through the cracks, revenue isn’t captured correctly, and you can’t trust the numbers you see at the end of the month. A Head of Finance makes sure every sale, refund, and supplier payment is logged promptly in your accounting system. This habit builds an accurate, real-time picture of your financial health.

Daily entry also prevents the “pile-up problem” where receipts and payments stack up until no one remembers what they were for. By keeping books current, you can track spending patterns, flag unusual activity, and get a reliable sense of cash flow. It’s not just bookkeeping; it’s about giving you confidence that today’s numbers are telling you the truth.

Reconcile Bank and Credit Card Statements Monthly

Bank and credit card reconciliations are like the double-checks on your financial engine. Each month, your Head of Finance compares what the bank says you spent or received with what your accounting system recorded. If there’s a gap, like a duplicate charge, a missing payment, or even fraud, it gets caught and fixed before it causes bigger issues.

This routine builds trust in your numbers. It’s one thing to have transactions recorded, but reconciliation confirms they’re right. Without it, errors can snowball over months, leading to inaccurate reports and misguided decisions. A disciplined reconciliation process ensures your cash balances, expenses, and revenues align across every system.

Maintain Organized Accounts Payable and Receivable Records

Your business lives and dies by cash flow, and that means you need to know both who you owe and who owes you. A Head of Finance keeps accounts payable and receivable organized so that bills are paid on time and customer payments don’t fall through the cracks.

To keep things clean, they:

• Track due dates for vendor invoices to avoid late fees.
• Monitor outstanding customer invoices and send reminders before they become overdue.
• Maintain a clear ledger so you always know what’s coming in and what’s going out.

This level of organization not only protects relationships with suppliers and customers but also keeps your cash position predictable.

Prepare Monthly Financial Statements for Review

Financial statements are more than paperwork; they’re the scorecard of your business. Each month, a Head of Finance prepares income statements, balance sheets, and cash flow statements so you can see exactly where things stand. Unlike year-end reports, these monthly snapshots let you course-correct before problems grow.

With these statements in hand, you can evaluate profitability, assess liquidity, and make smarter strategic calls. Regular review also means you’re not surprised by sudden tax obligations or cash shortfalls. Monthly financial reporting is about transforming numbers into insight, giving you the power to act proactively rather than reactively.

Track Expenses and Match Them to Budgets

Budgets only work if they’re actively tracked against reality. A Head of Finance makes sure every expense is logged, categorized, and measured against the budget you’ve set. If travel spending suddenly spikes or marketing costs creep higher than planned, you’ll know right away.

This tracking allows leaders to stay in control of financial strategy. Instead of overspending and discovering it months later, you can adjust spending midstream. It’s not about penny-pinching; it’s about ensuring resources are aligned with the growth plan. When matched against budgets, expenses stop being random outflows and become clear signals for decision-making.

Manage Invoice Creation and Payment Follow-Ups

Invoices are the lifeblood of cash flow, but creating them and following up consistently is often neglected. A Head of Finance standardizes how invoices are generated, ensuring they’re accurate, timely, and professional. They also built a system for following up, so you’re not leaving money on the table waiting for late-paying clients.

The real value lies in consistency. Instead of chasing down payments reactively, you have a structured process that keeps receivables moving. Over time, this reduces days-sales-outstanding (DSO) and strengthens your ability to forecast cash. Predictable income means less stress and more stability for growth.

Maintain Organized Receipts and Documentation for Tax Season

Every receipt matters when tax season arrives. A Head of Finance ensures that documentation is stored systematically throughout the year (whether digitally or in categorized files), so you’re not scrambling in April. Organized records mean deductions are easier to claim and audits are less stressful.

Beyond compliance, this practice saves money. Missed receipts often mean missed tax savings. By keeping everything organized, you’re not only staying on the right side of regulations but also maximizing what you can legitimately deduct. Tax prep becomes a smooth process, not a frantic paper chase.

Support Accountants During Audits or Year-End Closing

Audits and year-end close are stressful if your finances aren’t in order. A Head of Finance acts as the bridge between your company and external accountants, providing reconciled records, organized documentation, and answers to questions before they become problems.

Because they’ve maintained discipline all year (daily entries, reconciliations, organized receipts), the process becomes a matter of sharing information rather than cleaning up chaos. The result? Faster audits, fewer red flags, and reduced fees from external accounting firms who don’t need to untangle a mess.

Monitor Account Balances to Prevent Discrepancies

Keeping an eye on balances isn’t just about knowing how much money is in the bank. A Head of Finance monitors balances across accounts to spot issues like duplicate charges, missing deposits, or even fraudulent activity. This vigilance keeps financial surprises from derailing operations.

They also ensure that balances in your accounting system match reality. It’s not uncommon for businesses to assume they have funds available only to discover mismatched records. Regular monitoring prevents this, protecting both liquidity and decision-making accuracy.

Ensure Accurate and Timely Entry of All Financial Data

Financial data is only as valuable as it is accurate and timely. A Head of Finance enforces discipline in data entry, ensuring that transactions, invoices, and payments are recorded correctly and quickly. That way, when leadership needs information, it’s available without delay.

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The benefits ripple outward. Accurate data feeds reliable reports, and reliable reports fuel strong decisions. Timely entry means you’re working with the present, not the past. Together, this discipline creates a finance function that leaders can depend on to steer the business with confidence.

What to Think About Before You Hire a Head of Finance

Bringing in a Head of Finance is a strategic move that says your business is ready to shift from reactive bookkeeping to proactive financial leadership. For many founders, the tipping point comes when their questions about cash flow, budgets, or growth become too complex for a bookkeeper or accountant to answer alone.

Before you hire, consider these factors:

• Stage of your business: Early-stage startups may not need a full-time Head of Finance yet, but as revenue grows and transactions increase, oversight becomes critical.
  
  
• Volume and complexity of transactions: If you’re juggling multiple revenue streams, international payments, or recurring invoices, the role quickly pays for itself.
  
  
• Financial visibility gaps: Ask yourself: Do you have real-time answers to cash flow, profitability, and budget questions? If not, it may be time.
  
  
• Internal vs. external solutions: Some businesses start with a part-time or fractional Head of Finance before transitioning to a full-time hire.
  
  
• Systems and tools: Without the right accounting software in place, even the best finance leader will be slowed down, so ensure your tech stack supports the role.

Hiring for this role is about building a finance function that scales with your growth. Done at the right time, it can give you clarity, control, and confidence to make smarter, faster business decisions.

Ready for a Finance Function That Scales with You?

When you step back and look at all the moving parts (daily transaction entry, reconciliations, budget tracking, invoice management, audits), it becomes clear that finance is more than a back-office function. It’s the system that gives you control over your business. A Head of Finance doesn’t just “keep the books”. They give you clarity, predictability, and the confidence to make smarter decisions without second-guessing the numbers.

If you’ve reached the point where bookkeeping alone no longer keeps up with your growth, it’s time to think about adding real financial leadership. At Somewhere, we help businesses build that function at the right time and in the right way — whether that means fractional support now or a full-time hire as you scale.

Get in touch with us today to talk about how a Head of Finance could bring clarity and control to your business. A short conversation can help you see the difference between keeping up with the numbers and truly taking control of them.

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