How is overhead allocated to projects?

We use a standard allocation method based on direct labor hours by default. If your firm prefers a different allocation approach (revenue-based, headcount-based, or custom), we configure it during setup.

Can you handle retainer revenue and trust accounting?

Yes. Retainers get tracked as deferred revenue and recognized as services are delivered. For law firms or other professionals with trust accounting requirements, we set up the trust accounts separately and reconcile per state or provincial requirements.

Do you track utilization rates?

On Growth and Scale tiers, yes. Utilization is part of the management dashboard. You see billable hours as a percentage of available hours by team member and across the firm.

What about fixed-fee versus hourly project tracking?

Both work. Fixed-fee projects get tracked against estimated hours so you see when you've gone over budget. Hourly projects get tracked against billable hours captured in your time tracking system.

Professional Services

Accounting that shows you which clients and projects actually make money.

Most agencies and consulting firms think they know which clients are profitable. They're usually wrong. Once labor costs, overhead, and scope creep get properly allocated, the picture changes. We give you the visibility that matters: project-level and client-level profitability.

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The professional services accounting problem

Standard accounting misses where the money actually goes.

Agencies and consulting firms have a unique blind spot. Your single biggest cost is people. And those people work across multiple clients and projects. Without proper allocation, you see total revenue and total expenses but you can't tell which client engagements are profitable and which are quietly destroying margin.

We set up your accounting to track labor at the project and client level. Combined with proper overhead allocation, you finally see what each client actually costs to serve and what they actually contribute to the bottom line.

What you get

Project P&Ls, client margins, recurring revenue.

Project-level profitability

Every project gets a P&L. Revenue, labor cost, direct expenses, and allocated overhead. You see which projects are making money and which are silently losing it. Scope creep stops being invisible.

Client margin analysis

Roll up the project view to the client level. Your top three revenue clients are not always your top three profit clients. Once you see the real numbers, conversations about scope, fees, and which clients to grow get a lot easier.

Recurring revenue tracking

Retainers, recurring engagements, and managed services revenue get tracked separately from project work. You see your monthly recurring revenue, churn rate, and the stability of your revenue base.

Built for these professional services business types

Different services, same need for visibility.

Digital agencies and creative shops

Marketing, design, development, content. Project-based work with a mix of retainer clients. We track utilization, project profitability, and client lifetime value.

Consulting firms

Management consulting, technology consulting, specialized advisory. Hourly billable rates, project margins, and partner-level profitability if your firm tracks that way.

Managed services providers

IT MSPs, marketing MSPs, financial MSPs. Recurring revenue is the backbone. We track MRR, churn, expansion revenue, and gross margin per customer.

Boutique professional firms

Law firms, architecture practices, design studios, specialized consulting. Project-based or matter-based billing, retainers, and trust accounting where applicable.

Pricing

Three tiers. Built around what professional services actually need.

Essentials at $349 covers automated accounting with project tagging. Growth at $749 adds project and client profitability dashboards. Scale at $1,295 adds quarterly strategic advisory for decisions like pricing changes, hiring plans, and client portfolio shifts. All plans include a one-time $1,500 setup and cleanup.

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Common questions

Questions about professional services accounting.

We connect to your time tracking system if you have one (Harvest, Toggl, Clockify, Forecast, and most major platforms). If you don't use time tracking, we can recommend a setup that fits your workflow.