Professional Services
Utilization-driven financials for firms that bill time and expertise.
Professional services firms — consultancies, agencies, law and design practices — sell time and expertise, which means the accounting question that matters most is utilization: how much of your team's capacity is actually billable, and is the P&L reflecting it. Generic bookkeeping tracks revenue and expenses but rarely connects them to project profitability or partner-level compensation, leaving owners to guess at which clients or service lines actually make money. NEXACC builds accounting for professional services firms around project and client profitability, ties payroll and partner draws to real cash position, and delivers the kind of monthly reporting that turns a founder's intuition about the business into a number they can act on.
Book a free 30-minute consultationSound familiar?
- Utilization and project profitability are tracked in someone's head, not the books.
- Partner draws and compensation get set without a clear read on real cash position.
- Client-level profitability is a mystery until a big client quietly stops being profitable.
What we run for you
- Project and client-level profitability reporting tied to actual hours billed
- Utilization tracking layered into the monthly close
- Partner compensation and draw structuring against real cash flow
- Accrual-basis accounting with WIP and unbilled revenue tracking
- Tax strategy built around entity structure and partner compensation splits
Related services
Where we serve professional services clients
Frequently asked questions
Can you track profitability by client or project?
Yes. We build project and client-level profitability reporting tied to actual billed hours, not just company-wide totals.
Do you help structure partner compensation and draws?
Yes. We tie partner draws and compensation structuring to real cash position and tax strategy, including entity election timing.
Do you work with law firms, agencies, and consultancies?
Yes. We work with a range of professional services firms that bill time and expertise, including trust accounting considerations where they apply.
Can you track WIP and unbilled revenue?
Yes. We maintain accrual-basis books with work-in-progress and unbilled revenue tracked separately from recognized revenue.