The deputy can find the cash forecast. Can they also tell you which receipt is uncertain, what happens if it slips and who can approve the next commitment?
Before planned leave, transfer the live assumptions and decision deadlines as well as the reports. A useful handover gives the backup a named action, trigger and escalation route for each open item.
For a finance leader preparing a two-week absence, the immediate test is practical: could the team make Tuesday's decision without reconstructing your thinking or waiting for you to answer from leave?
Finance leadership leave handover starts with the open decisions
List the commitments that will come due during the absence. Include uncertain receipts, supplier renewals, proposed purchases and any approval that is waiting for new evidence.
A file location answers where the record is. It doesn't explain which fact would change the next decision. Put the current assumption beside its owner, evidence, review date and action if it proves wrong.
The business owner and leadership team should agree who is responsible for each decision. Someone may be able to update the forecast without having authority to approve a new cash commitment. Those are separate responsibilities.
Arron's published forecast discussion supports using cash timing to make operating choices earlier. His key-person-dependence discussion supports deliberate transfers of responsibility. The leave handover proposed here is an editorial application of those themes, not an exact reported Bennett procedure.
A finance leadership operating checklist covers the wider rhythm. This note focuses on the live assumptions that cannot wait until the leader returns.
Hypothetical: a $35,000 receipt during a two-week absence
Assume a fictional company starts the leave period with $80,000 cash. It expects a $35,000 customer receipt on Tuesday, pays $45,000 payroll on Friday and has a $12,000 supplier renewal the following week. No other cash movements are included.
If the receipt arrives, cash after both payments is $58,000: $80,000 plus $35,000 minus $45,000 minus $12,000.
If the receipt doesn't arrive during the period, cash after those payments is $23,000: $80,000 minus $45,000 minus $12,000. The missing receipt changes the modeled position by $35,000; it isn't a reduction in the invoice's value.
Now assume a proposed $15,000 optional purchase is awaiting approval. Approving it would leave $43,000 in the receipt-arrives case and $8,000 in the delayed-receipt case. Those balances are hypothetical, not recommended reserves or a forecast for a real business.
The deputy needs more than the $58,000 expected balance. They need to know that the receipt remains uncertain and the optional purchase hasn't been approved.
The accounts-receivable owner checks the customer's payment status. The deputy updates both cash paths. The CEO owns approval of the proposed purchase under this fictional authority arrangement. If the receipt is still unconfirmed 48 hours before payroll, the deputy alerts the CEO with the revised forecast and the open choice.
Existing payment obligations still need their own proper handling. The example doesn't authorize withholding payroll or ignoring the supplier agreement.
If the handover reveals that approvals depend on an optimistic receipt, use a Profit & Tax Leak Check to organize the cash assumptions before the leader goes offline.
Before the finance leader leaves, test the deputy's answer
Walk through one live decision together. Ask the deputy what they would do if the important assumption changed tomorrow.
They should be able to find the source record, determine the current position, identify the decision owner and contact the appropriate person in a timely manner. A confident answer without access to the records doesn't establish readiness.
A planned leave is different from a permanent leadership departure or finance leadership turnover. It doesn't automatically require hiring an interim CFO. It does require enough interim leadership to handle the decisions within the absence.
Check whether the backup has the necessary skill set and access. If a staffing gap leaves an essential task uncovered, assign support before leave rather than relying on the departing leader to remain available. A job description rarely captures the live uncertainty on its own.
What a rolling cash forecast changes explains the decision connection. The handover must preserve that connection while its usual owner is away.
The first week needs specific cash flow triggers
Create a short set of actions for the hypothetical:
Receipt: the accounts-receivable owner verifies status on Tuesday and tells the deputy whether the expected cash arrived.
Payroll: the deputy assesses the current cash path 48 hours before Friday's payment and escalates a changed assumption.
Renewal: the operations contact confirms the supplier deadline and service scope before the agreed review date.
Optional purchase: the CEO evaluates the proposal using the updated cash position; the deputy records the decision.
Set the exception route for an item outside the backup's authority. If a new commitment exceeds the agreed decision rights, the deputy should refer it to the named approver rather than improvise permission.
Reporting deadlines, month end close and audit requests may also fall inside the leave period. Hand over the relevant work and owner. Keep compliance requirements with the people qualified and authorized to manage them; this decision note doesn't replace those procedures.
Bennett's month-end close checklist for a service business is the technical context for that reporting work.
Keep the finance function working without constant leave contact
Agree how the backup will report a material change to the CEO and which matters need immediate escalation. The remaining employees should know the route before the leader leaves the office.
Avoid “call if anything happens.” Define the issue and information needed. For example, a changed receipt date should come with the updated cash view, affected commitments and decision requested.
The role transition is temporary, but its authority should be real. A deputy who must ask the absent leader about every day to day choice hasn't received a usable handover.
At the return meeting, review what changed, which decisions were made and which assumptions remain open. Reconcile the actual receipts and costs with the plan. That review supports future handovers without presenting a smooth absence as proof that every financial risk is resolved.
Choose the next decision due during leave and ask the backup to explain its trigger now. If the answer depends on undocumented knowledge, bring the open commitments to Bennett's Leak Check while there is still time to prepare the handover.
Frequently asked questions
What is the most important item in a finance leave handover?
The next financial decision and the assumption that could change it. Include its owner, deadline, source evidence and escalation action.
Is sharing the forecast file enough?
No. The backup also needs to understand uncertain inputs, outstanding commitments and who can approve action when the forecast changes.
Who should own an uncertain customer receipt?
Name the person who can verify payment status, then identify who updates the forecast and who decides any resulting change to commitments.
Does planned leave require an interim CFO?
Not automatically. Assess the decisions, workload and available authority. Assign additional support where the actual gap requires it.
What should trigger an escalation?
A specified changed assumption, deadline or commitment outside the deputy's authority. Define the trigger before leave begins.
Should the deputy receive all the finance leader's authority?
Only the authority deliberately assigned for the absence. State limits and name an alternate approver for decisions beyond them.
How should reporting work be handed over?
Assign the relevant deadline, owner, records and review requirement. Separate the task of producing a report from approval of any business decision it informs.
What happens when the finance leader returns?
Review actual cash movements, decisions and unresolved assumptions. Update the live plan so temporary notes don't remain as outdated instructions.