30-60-90 day plan for finance managers
On this page
- Three closes in 90 days
- Days 1-30: Learn how the numbers are made
- Days 31-60: Own the close and fix the balance sheet
- Days 61-90: Improve the close and deliver a forecast
- What "on track" looks like
- A filled example
- Reading the first close: what to look for
- Questions for the check-ins
- What the hiring manager owes the new finance manager
- Common mistakes
- Adapting the plan
- Questions people ask
A finance manager's first 90 days are paced by the calendar, not by the plan. Month-end close arrives whether the new hire is ready or not, and so do the board pack, the budget cycle, the audit fieldwork and the bank covenant report. A useful 30-60-90 day plan for a finance manager is built around those fixed dates: shadow one close, own the next, and by the third, run a close that is faster or cleaner than the one they inherited, with a forecast the leadership team trusts.
This plan is written for the CFO, controller or founder hiring a finance manager who owns the close and reporting and supports planning. The general structure for any role is in the 30-60-90 day plan template for new hires.
Three closes in 90 days
The simplest way to structure a finance manager's ramp is by close cycle. Most new hires will see three month-end closes in their first 90 days, and each one is a natural checkpoint:
| Close | Role of the new finance manager | What it proves |
|---|---|---|
| First close | Shadow; review every reconciliation and journal entry; sit in on the flux review | Understands the chart of accounts, the systems and where the numbers come from |
| Second close | Own the close checklist and review, with the previous owner or the controller as backstop | Can run the process and catch errors before the numbers go out |
| Third close | Run it alone, with at least one improvement to timing or accuracy | Can improve the process, not just keep it running |
Days 1-30: Learn how the numbers are made
- Get access to the ERP or general ledger (NetSuite, Sage Intacct, QuickBooks, Dynamics or whatever the company uses), the bank portals in read-only mode, the expense and AP tools, and the reporting files.
- Read the last two years of financial statements, the last audit or review letter and its management letter points, the current budget, and any debt agreements with covenants.
- Shadow the first close end to end. Keep a log of every step, who does it, how long it takes and where it waits on someone else.
- Review the balance sheet reconciliations for the last closed month. Mark each one as current, stale or missing.
- List every manual journal entry in the last close, grouped by source.
- Meet the budget holders in each department and ask what they use from finance and what they wish they had.
Deliverable by day 30: a close and controls assessment covering the close calendar as it really runs, reconciliation status, manual entries, segregation-of-duties gaps and the three biggest risks to accurate reporting, each with a proposed fix.
Days 31-60: Own the close and fix the balance sheet
- Own the second close: the checklist, the review of reconciliations and journals, and the flux analysis explaining month-over-month movements.
- Bring every stale balance sheet reconciliation current, starting with cash, receivables, payables, accruals and prepaids.
- Fix the highest-risk control gap from the assessment, for example payment approvals that can be entered and released by one person.
- Produce the monthly management report with commentary that explains the business reasons behind variances, not just the numbers.
- Start the rolling forecast: agree the drivers with the hiring manager and the department heads.
Deliverable by day 60: a close completed on schedule with all key reconciliations current and reviewed, and a management report the leadership team discussed rather than just received.
Days 61-90: Improve the close and deliver a forecast
- Run the third close without backstop, with one improvement in timing or accuracy measured against the first close.
- Deliver a rolling forecast for the rest of the fiscal year, with stated drivers and a downside scenario.
- Prepare for the next audit or review: a list of what the auditors will ask for, with owners and dates, and progress on any prior-year management letter points.
- Document the close process in a checklist someone else could follow.
Deliverable by day 90: a documented close process, a forecast the CFO or founder uses in the board pack, and an audit readiness list.
What "on track" looks like
| Checkpoint | On track | Worth a direct conversation |
|---|---|---|
| Day 30 | The assessment names specific accounts, entries and control gaps; the new manager can explain the main revenue and cost flows through the ledger | A general description of the close with no reconciliation status; has not read the audit management letter |
| Day 60 | Second close on schedule; key reconciliations current; variance commentary explains business causes | Close slipped with no warning; reconciliations "in progress"; commentary restates the numbers |
| Day 90 | Third close faster or with fewer post-close adjustments; forecast used by leadership; close documented | Post-close corrections still common; forecast is the budget with actuals pasted in |
A filled example
Finance manager: Ruth Adeyemi (invented), first finance manager at a 90-person professional services firm, reporting to a part-time CFO.
Day 30: Shadowed the September close, which took 14 business days. Found that the work-in-progress and unbilled revenue reconciliation had not been done for four months, and that one person could both set up new vendors and release payments. Grouped manual journals and found most came from reclassing project expenses coded to the wrong client.
Day 60: Owned the October close with the CFO reviewing. Brought unbilled revenue current, which moved revenue between months and was explained in the management report. Split vendor setup from payment release in the AP tool with the CFO's approval.
Day 90: Ran the November close in 10 business days. Fixed the expense coding at source by adding a required project field in the expense tool, which cut the reclass entries sharply. Delivered a rolling forecast based on billable headcount and utilization, used in the December board pack.
Reading the first close: what to look for
The first close is where the new finance manager learns the most, but only if they are looking for the right things. Ask them to note:
- Where the close waits. Most close delays come from waiting on something outside finance: payroll files, bank feeds, project managers approving time, a subsidiary's numbers.
- Where judgment enters. Accruals, revenue cut-off, allowances and capitalization decisions. These are where errors and audit questions cluster.
- What gets fixed after the close. Post-close adjustments show where the process catches errors too late.
- What only one person knows. A reconciliation nobody else can do is a risk, especially during leave.
Questions for the check-ins
- Which account on the balance sheet are you least confident in, and why?
- Where did the last close wait on someone outside finance?
- What would the auditors ask about first if they arrived next week?
- Which department head uses our reports, and which one ignores them?
What the hiring manager owes the new finance manager
- System access before the first close begins, including read-only bank access. A finance manager who cannot see the ledger during their first close cannot learn from it.
- The previous owner's time during the first close, even if they have moved to another role.
- The last audit management letter and any known issues, shared openly.
- A clear approval matrix: what the finance manager can approve, and what needs the CFO or founder.
- Introductions to the external accountant or auditor, the bank relationship manager and the payroll provider.
Common mistakes
| Mistake | Result | Fix |
|---|---|---|
| Changing the close process during the first close | A late or wrong close, blamed on the new hire | Shadow first, change from the third close |
| Forecasting before the balance sheet is clean | A forecast built on numbers that move once reconciliations are done | Bring key reconciliations current by day 60, forecast after |
| Controls treated as an audit-time task | Gaps found by the auditor instead of the finance manager | Include segregation of duties and approvals in the day-30 assessment |
| Finance working alone | Budget holders see finance as the team that says no | Build department-head meetings into the first 30 days and the forecast process |
Adapting the plan
- Public or pre-IPO companies: add internal control documentation and testing to the day-60 and day-90 goals, and budget more time for audit coordination.
- FP&A-focused roles: keep the first-close shadow as context, then replace close ownership with budget ownership, variance analysis and a monthly business review with each department head.
- Finance manager with a team: add one-to-ones with each accountant and AP or AR specialist in week one, and a day-60 goal to rebalance close tasks.
If you are still hiring, the controller screening questions cover the close and controls judgment this plan tests, and the financial analyst phone screen questions and staff accountant phone screen questions help when the new finance manager starts building their own team.
Questions people ask
Should a new finance manager run the month-end close in their first month?
Usually not alone. Shadow the first close, ideally with the person who ran it before, and own the second close with support. A new finance manager who runs the first close solo is learning the chart of accounts, the systems and the team's habits under deadline pressure, which is when errors slip through.
What does a good 30-day deliverable look like for a finance manager?
A written close and controls assessment: the close calendar as it actually runs, which reconciliations are current and which are not, where manual journal entries come from, and the three biggest risks to accurate reporting. It should name specific accounts and processes, not general observations.
How do I judge a finance manager's first forecast?
Judge the assumptions more than the result. A good first forecast states its drivers, explains how they differ from the budget, and shows a range or scenarios where the uncertainty is real. Accuracy can only be judged after a few months of actuals come in.
Does this plan work for an FP&A manager as well as an accounting manager?
The shape holds, but the weighting changes. An accounting-focused finance manager's plan centers on the close, reconciliations and audit readiness; an FP&A manager's plan should shift the day-60 and day-90 goals toward budget ownership, variance analysis and business partnering, with the close as context rather than a deliverable.