{"id":9605,"date":"2023-05-12T15:09:20","date_gmt":"2023-05-12T03:09:20","guid":{"rendered":"https:\/\/theaccountinghub.co.nz\/?p=9605"},"modified":"2024-03-04T18:42:22","modified_gmt":"2024-03-04T05:42:22","slug":"what-is-a-fractional-accounting-team","status":"publish","type":"post","link":"https:\/\/theaccountinghub.co.nz\/what-is-a-fractional-accounting-team\/","title":{"rendered":"What is a fractional accounting team?"},"content":{"rendered":"<p>A fractional accounting team or fractional accountant, is a finance department or professional that works on a part-time, retainer, or contract basis. They bring the experience and expertise of a high-level accounting team to your business \u2013 without the cost of hiring full-time, in-house employees.<\/p>\n<p>Fractional accounting teams service several clients at once typically on a part-time, retainer, or contract basis. Their specialty is providing outsourced accounting, tax and bookkeeping services to small and medium businesses.<\/p>\n<p>Because their financial management skills are so well-developed, it\u2019s common to bring one on board to help navigate a challenge, or to manage day to day financial tasks.<\/p>\n<p>Read on to learn more about what a fractional accountant or accounting team does.<\/p>\n<h3>Navigating challenges<\/h3>\n<p>Small businesses and startups typically have a streamlined staff, which keeps costs down and allows the business owner to focus on healthy growth.<\/p>\n<p>But sometimes, a financial challenge comes up that is beyond the skill or experience level of those on the team. This is where a fractional accounting team can be of great benefit. Some of the issues they assist with include:<\/p>\n<ul>\n<li>Cashflow problems<\/li>\n<li>Low gross margins<\/li>\n<li>High expenses<\/li>\n<li>Existing systems that are no longer working<\/li>\n<li>Cost cutting analysis<\/li>\n<li>Getting through an audit<\/li>\n<\/ul>\n<p>Hopefully, these situations don\u2019t come up often, but when they do it\u2019s beneficial to have an expert on your side to guide you through.<\/p>\n<h3>Achieving goals<\/h3>\n<p>Most businesses start with a similar formula\u2013invest your time and money, create a product or service that customers want, and earn money by providing that product or service. Maybe you envision your business expanding somehow, or scaling up. Perhaps an exciting opportunity comes up but you aren\u2019t sure how to take advantage of it.<\/p>\n<p>A fractional accounting team can help you make your dreams a reality by deciphering the numbers. They will look at where you are now and help you plan where to go next. This includes:<\/p>\n<ul>\n<li>Ensuring the books are in order<\/li>\n<li>Performing financial forecasts<\/li>\n<li>Attending board meetings to get a sense of the company<\/li>\n<li>Helping with strategic relationships<\/li>\n<li>Overseeing due diligence<\/li>\n<\/ul>\n<p>There are plenty of ways a fractional accounting team improves your operations. The specific skills and experience they provide will clarify your situation and help you achieve what you want.<\/p>\n<h3>Managing growth<\/h3>\n<p>Taking your business to the next level can seem daunting. You want to grow, but you don\u2019t want to risk your success by taking on too much or making a damaging misstep.<\/p>\n<p>Hiring a fractional accounting team will help you navigate the steps ahead. If you\u2019re already growing at a rate that makes you feel like you\u2019re losing control, they will help you retake the reins.<\/p>\n<p>A fractional accounting team will help by:<\/p>\n<ul>\n<li>Breaking down large amounts of financial information into helpful data<\/li>\n<li>Making a plan to develop existing employees and their skills<\/li>\n<li>Identifying the need to hire new employees to manage growth<\/li>\n<li>Implementing systems that will work going forward<\/li>\n<li>Exploring causes of revenue loss and cost overruns and developing solutions to address them<\/li>\n<\/ul>\n<p>Ultimately, a fractional accountant is helpful to guide you through the growth process so that you can feel confident as your business expands.<\/p>\n<h3>Ongoing accounting &amp; tax tasks<\/h3>\n<p>While a fractional accountant or accounting team is helpful for navigating one-off challenges or opportunities, perhaps the area where they can provide the most value is in handling the day to day financial tasks.\u00a0This tasks may include:<\/p>\n<ul>\n<li>Bank reconciliations<\/li>\n<li>Invoicing and collection of accounts receivable<\/li>\n<li>Bill processing and payments<\/li>\n<li>Payroll<\/li>\n<li>GST returns<\/li>\n<li>End of financial year returns<\/li>\n<li>Monthly financial reporting<\/li>\n<\/ul>\n<p>Because they have expertise with specialist accounting and bookkeeping systems and software, the fractional accounting team can often do these tasks more efficiently, freeing up staff and business owners to get on with their core roles in the business.<\/p>\n<h3>We can help<\/h3>\n<p>Many small- and medium-sized businesses and start-ups could benefit from the services of a accountant especially during a growth stage, but the cost of hiring one in-house might be out of reach. By hiring a fractional accountant or accounting team on an as-needed basis, you can enjoy the benefits of their expertise without breaking the bank.<\/p>\n<p>The Accounting Hub specialises in providing accounting services to businesses that do not need an in-house accountant or finance department. Please <a href=\"https:\/\/theaccountinghub.co.nz\/contact-us-auckland\/\">get in touch<\/a> if you would like to know more.<\/p>\n<p><a href=\"https:\/\/theaccountinghub.co.nz\/bookkeeping\/\">More about our bookkeeping services<\/a><\/p>\n<p><a href=\"https:\/\/theaccountinghub.co.nz\/accounting-plans\/\">More about our accounting plans<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>A fractional accounting team or fractional accountant, is a finance department or professional that works on a part-time, retainer, or contract basis. They bring the experience and expertise of a high-level accounting team to your business \u2013 without the cost [&#8230;]<\/p>\n<p><a class=\"btn btn-secondary understrap-read-more-link\" href=\"https:\/\/theaccountinghub.co.nz\/what-is-a-fractional-accounting-team\/\">Read More&#8230;<span class=\"screen-reader-text\"> from What is a fractional accounting team?<\/span><\/a><\/p>\n","protected":false},"author":14,"featured_media":9746,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false}}},"categories":[45,1,44,75],"tags":[],"jetpack_publicize_connections":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>What is a fractional accounting team? - The Accounting Hub Limited<\/title>\n<meta name=\"description\" content=\"A fractional accounting team or fractional accountant, is a finance department or professional who works on a part-time, retainer, or contract basis. They bring the experience and expertise of a high-level accounting team to your business \u2013 without the cost of hiring full-time, in-house employees.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/theaccountinghub.co.nz\/what-is-a-fractional-accounting-team\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"What is a fractional accounting team? - The Accounting Hub Limited\" \/>\n<meta property=\"og:description\" content=\"A fractional accounting team or fractional accountant, is a finance department or professional who works on a part-time, retainer, or contract basis. They bring the experience and expertise of a high-level accounting team to your business \u2013 without the cost of hiring full-time, in-house employees.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/theaccountinghub.co.nz\/what-is-a-fractional-accounting-team\/\" \/>\n<meta property=\"og:site_name\" content=\"The Accounting Hub Limited\" \/>\n<meta property=\"article:published_time\" content=\"2023-05-12T03:09:20+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-03-04T05:42:22+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/theaccountinghub.co.nz\/app\/uploads\/accounting-team.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"800\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"The Accounting Hub\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/theaccountinghub.co.nz\/what-is-a-fractional-accounting-team\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/theaccountinghub.co.nz\/what-is-a-fractional-accounting-team\/\"},\"author\":{\"name\":\"The Accounting Hub\",\"@id\":\"https:\/\/theaccountinghub.co.nz\/#\/schema\/person\/b5060ca0cae2c4a62b38ce4cd20b0111\"},\"headline\":\"What is a fractional accounting team?\",\"datePublished\":\"2023-05-12T03:09:20+00:00\",\"dateModified\":\"2024-03-04T05:42:22+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/theaccountinghub.co.nz\/what-is-a-fractional-accounting-team\/\"},\"wordCount\":741,\"publisher\":{\"@id\":\"https:\/\/theaccountinghub.co.nz\/#organization\"},\"image\":{\"@id\":\"https:\/\/theaccountinghub.co.nz\/what-is-a-fractional-accounting-team\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/theaccountinghub.co.nz\/app\/uploads\/accounting-team.jpg\",\"articleSection\":[\"Financial Planning\",\"Firm News\",\"Management\",\"Small Business\"],\"inLanguage\":\"en-NZ\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/theaccountinghub.co.nz\/what-is-a-fractional-accounting-team\/\",\"url\":\"https:\/\/theaccountinghub.co.nz\/what-is-a-fractional-accounting-team\/\",\"name\":\"What is a fractional accounting team? - The Accounting Hub Limited\",\"isPartOf\":{\"@id\":\"https:\/\/theaccountinghub.co.nz\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/theaccountinghub.co.nz\/what-is-a-fractional-accounting-team\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/theaccountinghub.co.nz\/what-is-a-fractional-accounting-team\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/theaccountinghub.co.nz\/app\/uploads\/accounting-team.jpg\",\"datePublished\":\"2023-05-12T03:09:20+00:00\",\"dateModified\":\"2024-03-04T05:42:22+00:00\",\"description\":\"A fractional accounting team or fractional accountant, is a finance department or professional who works on a part-time, retainer, or contract basis. They bring the experience and expertise of a high-level accounting team to your business \u2013 without the cost of hiring full-time, in-house employees.\",\"inLanguage\":\"en-NZ\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/theaccountinghub.co.nz\/what-is-a-fractional-accounting-team\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-NZ\",\"@id\":\"https:\/\/theaccountinghub.co.nz\/what-is-a-fractional-accounting-team\/#primaryimage\",\"url\":\"https:\/\/theaccountinghub.co.nz\/app\/uploads\/accounting-team.jpg\",\"contentUrl\":\"https:\/\/theaccountinghub.co.nz\/app\/uploads\/accounting-team.jpg\",\"width\":1200,\"height\":800,\"caption\":\"Accounting Team\"},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/theaccountinghub.co.nz\/#website\",\"url\":\"https:\/\/theaccountinghub.co.nz\/\",\"name\":\"The Accounting Hub Limited\",\"description\":\"Xero Chartered Accountants Auckland\",\"publisher\":{\"@id\":\"https:\/\/theaccountinghub.co.nz\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/theaccountinghub.co.nz\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-NZ\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/theaccountinghub.co.nz\/#organization\",\"name\":\"The Accounting Hub Limited\",\"url\":\"https:\/\/theaccountinghub.co.nz\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-NZ\",\"@id\":\"https:\/\/theaccountinghub.co.nz\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/theaccountinghub.co.nz\/app\/uploads\/TheAccountingHub-logo.png\",\"contentUrl\":\"https:\/\/theaccountinghub.co.nz\/app\/uploads\/TheAccountingHub-logo.png\",\"width\":400,\"height\":126,\"caption\":\"The Accounting Hub Limited\"},\"image\":{\"@id\":\"https:\/\/theaccountinghub.co.nz\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/theaccountinghub.co.nz\/#\/schema\/person\/b5060ca0cae2c4a62b38ce4cd20b0111\",\"name\":\"The Accounting Hub\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-NZ\",\"@id\":\"https:\/\/theaccountinghub.co.nz\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/515b078cb9dd579f347de2bf92f32ffa?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/515b078cb9dd579f347de2bf92f32ffa?s=96&d=mm&r=g\",\"caption\":\"The Accounting Hub\"},\"url\":\"https:\/\/theaccountinghub.co.nz\/author\/karen\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"What is a fractional accounting team? - The Accounting Hub Limited","description":"A fractional accounting team or fractional accountant, is a finance department or professional who works on a part-time, retainer, or contract basis. They bring the experience and expertise of a high-level accounting team to your business \u2013 without the cost of hiring full-time, in-house employees.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/theaccountinghub.co.nz\/what-is-a-fractional-accounting-team\/","og_locale":"en_US","og_type":"article","og_title":"What is a fractional accounting team? - The Accounting Hub Limited","og_description":"A fractional accounting team or fractional accountant, is a finance department or professional who works on a part-time, retainer, or contract basis. They bring the experience and expertise of a high-level accounting team to your business \u2013 without the cost of hiring full-time, in-house employees.","og_url":"https:\/\/theaccountinghub.co.nz\/what-is-a-fractional-accounting-team\/","og_site_name":"The Accounting Hub Limited","article_published_time":"2023-05-12T03:09:20+00:00","article_modified_time":"2024-03-04T05:42:22+00:00","og_image":[{"width":1200,"height":800,"url":"https:\/\/theaccountinghub.co.nz\/app\/uploads\/accounting-team.jpg","type":"image\/jpeg"}],"author":"The Accounting Hub","twitter_card":"summary_large_image","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/theaccountinghub.co.nz\/what-is-a-fractional-accounting-team\/#article","isPartOf":{"@id":"https:\/\/theaccountinghub.co.nz\/what-is-a-fractional-accounting-team\/"},"author":{"name":"The Accounting Hub","@id":"https:\/\/theaccountinghub.co.nz\/#\/schema\/person\/b5060ca0cae2c4a62b38ce4cd20b0111"},"headline":"What is a fractional accounting team?","datePublished":"2023-05-12T03:09:20+00:00","dateModified":"2024-03-04T05:42:22+00:00","mainEntityOfPage":{"@id":"https:\/\/theaccountinghub.co.nz\/what-is-a-fractional-accounting-team\/"},"wordCount":741,"publisher":{"@id":"https:\/\/theaccountinghub.co.nz\/#organization"},"image":{"@id":"https:\/\/theaccountinghub.co.nz\/what-is-a-fractional-accounting-team\/#primaryimage"},"thumbnailUrl":"https:\/\/theaccountinghub.co.nz\/app\/uploads\/accounting-team.jpg","articleSection":["Financial Planning","Firm News","Management","Small Business"],"inLanguage":"en-NZ"},{"@type":"WebPage","@id":"https:\/\/theaccountinghub.co.nz\/what-is-a-fractional-accounting-team\/","url":"https:\/\/theaccountinghub.co.nz\/what-is-a-fractional-accounting-team\/","name":"What is a fractional accounting team? - The Accounting Hub Limited","isPartOf":{"@id":"https:\/\/theaccountinghub.co.nz\/#website"},"primaryImageOfPage":{"@id":"https:\/\/theaccountinghub.co.nz\/what-is-a-fractional-accounting-team\/#primaryimage"},"image":{"@id":"https:\/\/theaccountinghub.co.nz\/what-is-a-fractional-accounting-team\/#primaryimage"},"thumbnailUrl":"https:\/\/theaccountinghub.co.nz\/app\/uploads\/accounting-team.jpg","datePublished":"2023-05-12T03:09:20+00:00","dateModified":"2024-03-04T05:42:22+00:00","description":"A fractional accounting team or fractional accountant, is a finance department or professional who works on a part-time, retainer, or contract basis. They bring the experience and expertise of a high-level accounting team to your business \u2013 without the cost of hiring full-time, in-house employees.","inLanguage":"en-NZ","potentialAction":[{"@type":"ReadAction","target":["https:\/\/theaccountinghub.co.nz\/what-is-a-fractional-accounting-team\/"]}]},{"@type":"ImageObject","inLanguage":"en-NZ","@id":"https:\/\/theaccountinghub.co.nz\/what-is-a-fractional-accounting-team\/#primaryimage","url":"https:\/\/theaccountinghub.co.nz\/app\/uploads\/accounting-team.jpg","contentUrl":"https:\/\/theaccountinghub.co.nz\/app\/uploads\/accounting-team.jpg","width":1200,"height":800,"caption":"Accounting Team"},{"@type":"WebSite","@id":"https:\/\/theaccountinghub.co.nz\/#website","url":"https:\/\/theaccountinghub.co.nz\/","name":"The Accounting Hub Limited","description":"Xero Chartered Accountants Auckland","publisher":{"@id":"https:\/\/theaccountinghub.co.nz\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/theaccountinghub.co.nz\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-NZ"},{"@type":"Organization","@id":"https:\/\/theaccountinghub.co.nz\/#organization","name":"The Accounting Hub Limited","url":"https:\/\/theaccountinghub.co.nz\/","logo":{"@type":"ImageObject","inLanguage":"en-NZ","@id":"https:\/\/theaccountinghub.co.nz\/#\/schema\/logo\/image\/","url":"https:\/\/theaccountinghub.co.nz\/app\/uploads\/TheAccountingHub-logo.png","contentUrl":"https:\/\/theaccountinghub.co.nz\/app\/uploads\/TheAccountingHub-logo.png","width":400,"height":126,"caption":"The Accounting Hub Limited"},"image":{"@id":"https:\/\/theaccountinghub.co.nz\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/theaccountinghub.co.nz\/#\/schema\/person\/b5060ca0cae2c4a62b38ce4cd20b0111","name":"The Accounting Hub","image":{"@type":"ImageObject","inLanguage":"en-NZ","@id":"https:\/\/theaccountinghub.co.nz\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/515b078cb9dd579f347de2bf92f32ffa?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/515b078cb9dd579f347de2bf92f32ffa?s=96&d=mm&r=g","caption":"The Accounting Hub"},"url":"https:\/\/theaccountinghub.co.nz\/author\/karen\/"}]}},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/theaccountinghub.co.nz\/app\/uploads\/accounting-team.jpg","_links":{"self":[{"href":"https:\/\/theaccountinghub.co.nz\/wp-json\/wp\/v2\/posts\/9605"}],"collection":[{"href":"https:\/\/theaccountinghub.co.nz\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/theaccountinghub.co.nz\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/theaccountinghub.co.nz\/wp-json\/wp\/v2\/users\/14"}],"replies":[{"embeddable":true,"href":"https:\/\/theaccountinghub.co.nz\/wp-json\/wp\/v2\/comments?post=9605"}],"version-history":[{"count":9,"href":"https:\/\/theaccountinghub.co.nz\/wp-json\/wp\/v2\/posts\/9605\/revisions"}],"predecessor-version":[{"id":10378,"href":"https:\/\/theaccountinghub.co.nz\/wp-json\/wp\/v2\/posts\/9605\/revisions\/10378"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/theaccountinghub.co.nz\/wp-json\/wp\/v2\/media\/9746"}],"wp:attachment":[{"href":"https:\/\/theaccountinghub.co.nz\/wp-json\/wp\/v2\/media?parent=9605"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/theaccountinghub.co.nz\/wp-json\/wp\/v2\/categories?post=9605"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/theaccountinghub.co.nz\/wp-json\/wp\/v2\/tags?post=9605"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}