How We Work With New Clients
How we work with new clients starts with a free 30-minute discovery call, followed by a fixed-fee proposal and engagement letter. Once that is signed, we take read access to your books, set up your monthly close calendar and send your first reporting pack after the first full month-end close.
What happens on the first call?
The discovery call is free and lasts 30 minutes. We learn about your business, how your finances are set up today and what you need from us. If we are the right fit, we send a fixed-fee proposal and an engagement letter.
What happens after you sign?
We ask for read access to the following:
- Your bank and credit card accounts
- Your accounting software
- Your payroll provider and any payment processors
- Your last tax return and prior-year financials
We then review the books and agree a catch-up plan if one is needed. Catch-up and cleanup work is quoted as a fixed fee once we have reviewed the books, never by the hour (see catch-up bookkeeping). Last, we set up your monthly close calendar. Onboarding typically takes 2 to 4 weeks, and your first monthly reporting pack follows the first full month-end close.
What do you receive each month?
Each service includes everything in the one before it.
| Service | What you receive each month |
|---|---|
| Bookkeeping | Transactions categorized, bank and card accounts reconciled, and a profit and loss and balance sheet as PDF |
| Fractional Financial Controller | Everything in bookkeeping, plus a full month-end close, accruals and prepayments, a statement of cash flows, budget vs actual and a short written commentary on the month |
| Fractional CFO and Advisory | Everything in the controller service, plus a rolling 13-week cash forecast, annual budget and forecast updates, and board or investor reporting where needed |
Controller and CFO reports compare against the previous month, the same month last year and your budget where you have one. To see what the close involves, read what a month-end close is.
How often will we talk?
- Bookkeeping: email support through the month, with a quarterly check-in call.
- Controller: a monthly call to walk through the numbers, plus email.
- CFO: a monthly strategy meeting, calls as needed, and attendance at board meetings if required.
Who oversees the work?
Jake McKenna leads every CFO engagement. He oversees all client work, and everything is reviewed by him before it reaches you. You can read more about him on the Who Are We page.
What do we not do?
We do not prepare tax returns, perform audits or give investment advice. We work alongside your CPA or tax professional. Two areas people often ask about:
- Sales tax: we track the tax you have collected and owe, reconcile it monthly and prepare the figures for filing by you or your CPA.
- Payroll: we work with your payroll provider, record payroll correctly in the books and reconcile the liabilities. We do not run payroll or file payroll taxes.
Prices are on the pricing page. You can also contact us to start with the discovery call.
Need this done for you? See our Bookkeeping service, or pricing. English Oak Financial does not prepare tax returns, perform audits or give investment advice.
Related pages
Common questions
How long does onboarding take?
Onboarding typically takes 2 to 4 weeks. You receive your first monthly reporting pack after the first full month-end close.
Is catch-up work billed by the hour?
No. Catch-up and cleanup work is quoted as a fixed fee once we have reviewed the books, so there are no surprises.
What access do you need from me?
Read access to your bank and credit card accounts, your accounting software, your payroll provider and any payment processors, plus your last tax return and prior-year financials.
Do you run payroll?
No. We work with your payroll provider, record payroll correctly in your books and reconcile the liabilities. We do not run payroll or file payroll taxes.
Talk it through with us
Schedule a free introductory consultation. No surprise bills. No unnecessary services.
Schedule Consultation