Law firms · Consultancies · Agencies · WIP tracking · Partner distributions

Professional services accounting where the financials directly affect partner confidence and client retention.

Law firms, consultancies, and agencies have accounting characteristics that differ fundamentally from product businesses. revenue is time-based. work-in-progress must be tracked accurately. Pair WIP and utilisation tracking with virtual CFO advisory, day-to-day bookkeeping, or a flexible engagement model sized to your professional services client base.

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Firm types we serve

The professional services clients your CPA firm works with — and what each requires.

Legal

Law firms

Law firm accounting has IOLTA trust account requirements, client cost reimbursement tracking, and partner draw calculations that make it one of the most complex professional services accounting environments.

IOLTA client trust account management

Client cost and disbursement tracking

Partner draw and capital account management

Contingency fee revenue recognition

Advisory

Consulting & advisory firms

Consulting firms bill by the hour, the day, or the engagement — sometimes all three simultaneously. accurate WIP tracking and revenue recognition are the core accounting challenges.

WIP and unbilled revenue tracking

Project-level profitability reporting

Retainer vs T&M billing reconciliation

Consultant utilisation and realisability

Creative

Marketing, PR & creative agencies

Agency accounting combines retainer billing, project billing, media pass-through costs, and staff utilisation in a single financial picture. most general bookkeepers collapse these into categories that obscure agency profitability.

Retainer and project billing split tracking

Media and production cost pass-through

Staff cost allocation by client

Client-level gross margin reporting

Key metrics we track

The metrics that actually matter for professional services firm health.

Standard financial statements tell you what happened. these metrics tell you whether the business is running well.

Utilisation

Billable utilisation rate

Billable hours as a percentage of available hours. the primary efficiency metric for any time-based professional services firm. tracked per person and per team.

Realisability

Bill rate realisability

Fees billed vs fees available at standard rates. realisability below 80% typically indicates scope creep, write-downs, or billing errors that need addressing.

WIP

WIP days outstanding

Average days between work completion and billing. high WIP days indicate billing delays that create cash flow problems and collection risk.

DSO

Days sales outstanding

Average days to collect after billing. the combined WIP days + DSO figure tells you how long after completing work the firm actually gets paid — a direct measure of working capital health.

Professional services clients deserve accountants who understand utilisation, WIP, and realisability.

Book a call and describe your professional services client base. We'll confirm exactly what we handle and how the metrics are tracked.

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Professional services accounting where the financials directly affect partner confidence and client retention.

The professional services clients your CPA firm works with — and what each requires.

The metrics that actually matter for professional services firm health.

Professional services clients deserve accountants who understand utilisation, WIP, and realisability.