Industry
Bookkeeping for Professional Services & Agencies
Utilisation, realisation and client profitability for firms that sell time and expertise.
Book a free consultationWhy this industry needs a different setup
A professional services firm lives or dies on the gap between hours worked, hours billed and hours collected. Most accounting setups track only the last one.
What gets tracked
- Client and matter-level profitability reporting
- Time tracking integrated into the books
- Work-in-progress and unbilled time reporting
- Retainer and deposit liability tracked correctly rather than booked as revenue on receipt
- Recurring and milestone billing
- Contractor and subcontractor payments with 1099 filing
- Partner and owner distribution tracking
- Multi-state payroll for distributed teams
How we work with you
Everything is delivered remotely, so it makes no difference whether you are in Little Rock, Chicago or Sacramento. Bank feeds, cloud accounting and a monthly call are the whole mechanism. Books are kept in QuickBooks Online or Xero — whichever suits the business — and payroll, sales tax and 1099 filings are handled in every state you operate in.
Common questions
Can you track profitability by client?
Yes, using class or project tracking, provided time is being captured somewhere we can pull from.
How should retainers be handled?
As a liability until the work is performed, not as revenue when the money arrives. Getting this wrong overstates income and creates a tax bill on money you have not earned.
Do you work with law firms?
Yes, on the operating side of the books. Client trust and IOLTA accounts carry state bar rules, and we follow your firm’s compliance requirements and your bar’s guidance on how they are maintained.
Bookkeeping for professional services & agencies, anywhere in the US
Book the free consultation and you will leave the call with a scope, a price and a clear view of what your books should be tracking.
Mo answers his own phone. Same-day reply, every time.