Books that keep pace with project based revenue.
Utilization, realization, and partner compensation do not appear on a standard chart of accounts. They are also how you know whether an engagement was actually profitable.
The complexity specific to consulting firms.
Work in process and unbilled revenue
Work performed but not yet invoiced has to be tracked accurately. Without it, your profit and loss statement understates what the firm actually earned in the period.
Utilization and realization
Identifying which engagements were genuinely profitable, rather than which ones simply billed the most, requires reporting that most bookkeepers do not build.
Multi-partner compensation
Partner draws, profit splits, and capital accounts require their own tracking and reconciliation, maintained separately from standard payroll.
Project based revenue recognition
Fixed fee and milestone billing do not recognize revenue the way an hourly retainer does. Treating them the same distorts every monthly close.
Scoped on complexity, not hours.
Full Cycle Accounting
Starting at $1,500 / moA complete accounting function delivered end to end: transaction management, reconciliations, accounts payable and receivable, payroll coordination, and a disciplined monthly close with financial statements.
Fractional Controller
Starting at $2,500 / moFull cycle accounting plus controller level oversight: work in process and revenue recognition policy, partner compensation tracking, cash flow forecasting, and engagement level profitability reporting.
Multi-entity groups and family offices are scoped individually. Entities connected to a parent engagement are priced below the standard minimum.
Let’s determine whether this is a fit.
A 30 minute engagement review covering where your finance function stands today, what it needs to become, and whether this firm is the right one to get you there.
Request an Engagement Review