Invoice templates for fractional CFOs and interim finance directors billing scale-ups and SMEs for strategic finance leadership.
A fractional CFO invoice is issued by an experienced finance director or CFO providing part-time or interim strategic finance leadership to businesses that cannot yet justify a full-time CFO hire. Fractional CFOs typically serve startups, scale-ups, and SMEs with revenues between £1 million and £20 million who need strategic financial oversight without the full-time salary cost. Fractional CFO engagements cover a wide range of high-level financial activities: cash flow forecasting, board-level financial reporting, investor relations, fundraising support, financial modelling, cost restructuring, EBITDA improvement, and preparation for M&A processes. Unlike bookkeepers or accountants who focus on compliance, fractional CFOs focus on financial strategy and business performance. Day rates for fractional CFOs are significantly higher than bookkeepers or accountants, reflecting the seniority and strategic impact of the role. Monthly retainers are common for ongoing engagements, with specific project work (fundraising, M&A support) often separately scoped and billed.
| Service | Typical Rate | Unit |
|---|---|---|
| Monthly fractional CFO retainer (2 days/week) | 4000 | month |
| Day rate (ad hoc or project) | 900 | day |
| Investor deck and financial model preparation | 3500 | project |
| Board reporting and monthly management accounts | 1500 | month |
| Fundraising due diligence support | 900 | day |
| Financial system implementation project | 6000 | project |
Monthly retainers should be invoiced at the beginning of each month and paid by standing order or direct debit. For ongoing retainers, set up automatic payment rather than chasing invoices manually. Your time is strategic; do not spend it on debtor management. For project engagements (fundraising rounds, M&A, system implementations), invoice in stages: 40% on commencement, 30% at milestone, 30% on delivery. Never start significant project work without a signed agreement and initial payment. Expenses such as travel, accommodation, and specific software subscriptions should be itemised and supported by receipts. Pass through at cost unless your engagement agreement includes an expenses uplift. Retainer agreements should specify the committed days per month, notice period for termination, and what constitutes out-of-scope work. Additional board meeting preparation, investor communications, or crisis response should trigger a separate invoice at your day rate unless explicitly included in the retainer.