How to build an offshore finance team: which roles to hire first

Most Australian businesses build an offshore finance team in layers. They start with transaction processing, add specialist roles such as payroll or accounts receivable as volume grows, and then add reporting and analysis. Your local finance lead or accountant keeps approvals, judgement calls and anything that needs a registration.

Layer 1: get the books current

An offshore bookkeeper or accounts assistant handles coding, bank reconciliations and month-end checklists. This is the usual first hire, because clean books make every later role easier.

Layer 2: split out high-volume work

As transaction volumes grow, split the work into dedicated roles: an accounts payable officer for supplier invoices and payment runs, an accounts receivable officer for invoicing and allocations, a credit and collections officer for overdue accounts, and a payroll specialist for pay runs and STP.

Layer 3: reporting and analysis

A management accountant prepares monthly packs, budgets and forecasts. A finance manager can lead the offshore team day to day and report to your CFO or owner.

What stays local

• Approving payments and changes to supplier bank details.

• Lodgements that need a registered tax or BAS agent.

• Decisions on credit limits, write-offs and legal action.

• Strategy, pricing and board reporting sign-off.

Make the team work together

Give every role a written process, one shared task tracker and a weekly finance meeting. Keep segregation of duties: the person who sets up suppliers should not also release payments.

Accounting practices follow a similar path. See offshore teams for accounting firms, or read Sri Lanka vs the Philippines to decide where to hire.

We recruit full-time finance staff in Sri Lanka and the Philippines in around 3 to 4 weeks. Book a free consultation to plan your team.