Professional Services
A practical starting point
Turn billing and staffing information into useful management reports.
Professional firms need to understand the relationship between fees, staff capacity, subcontractor costs, and collections. An apparently strong revenue month can coincide with rising work in progress or customer balances that remain unpaid.
Review how the firm records retainers, project billing, payroll, and owner transactions. Reports should distinguish the firm's operating results from distributions and financing. Where client funds require special treatment, establish the applicable professional and legal requirements with the appropriate adviser.
What to agree before work begins
A reporting rhythm that supports pricing, staffing, collections, and partner discussions, with clear accounting responsibilities and review points.
What makes it complex
- Partner draws, distributions, and compensation
- Project and client profitability tracking
- Trust and retainer accounting
- Multi-partner entity tax planning
How we help
- Partner compensation and distribution planning
- Profitability reporting by client or matter
- Entity-level and partner tax coordination
- Advisory for firm growth
Recommended services
The services professional services rely on most.
Business Advisory
Tax Planning
Financial Statements
Payroll Services
Let's discuss the work you need.
Tell us about your situation, the records you have, and any deadlines. We will discuss the right scope and next steps before an engagement begins.