Accounting for Professional Services
Trust/client fund accounting, time and billing (WIP) tracking, and partner distribution support for law firms, consulting firms, and other professional services businesses.
What Makes Professional Services Accounting Different
Professional services firms — law firms in particular — carry accounting obligations that don't apply to most small businesses: client trust funds must be kept strictly segregated from operating funds, and revenue is often earned as work-in-progress well before it's invoiced. On top of that, partner-based ownership structures need draws and distributions tracked accurately. We build bookkeeping around these realities, so trust compliance, WIP visibility, and partner accounting are handled correctly, not bolted on after the fact.
Support Built for Professional Services
Client trust fund accounting kept properly segregated from operating funds
Work-in-progress (WIP) and unbilled time tracking tied to billing cycles
Partner capital account tracking, draws, and distributions
Matter-level or project-level profitability reporting
Support for law firms, consulting firms, and similar professional services businesses
NDA-backed, confidential handling of client and firm financial data
Related Resources
Frequently Asked Questions
Yes, we structure bookkeeping to keep client trust funds clearly segregated from operating funds, consistent with how professional services firms — particularly law firms — need to handle client funds.
Yes, we track WIP and unbilled time and tie it to billing cycles, so partners and managers have visibility into revenue that has been earned but not yet invoiced.
Yes, we support partner capital account tracking, draws, and distributions as part of the firm's bookkeeping, working alongside your CPA or tax advisor for the tax treatment.
We support law firms, consulting firms, and similar professional services businesses that bill for time and need to track project or matter-level profitability.
Yes, we can structure reporting to show profitability by matter, project, or client, not just firm-wide totals.
Ready to Simplify Your Professional Services Accounting?
Let's talk about what your business actually needs.