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Accounting for professional services firms

Quick answer

For agencies, consultancies and other professional services firms we reconcile time and billing data, record unbilled revenue and deferred income, track pass-through costs and report margins by client or project. That gives partners a clear view of which work makes money.

Last reviewed by the Offshore Accounting Hub team: 5 October 2026

What we handle

  • Time and billing reconciled to invoices.
  • Unbilled revenue and deferred income at month-end.
  • Pass-through and reimbursable costs billed and tracked.
  • Contractor and freelancer payments prepared for approval.
  • Margin reports by client, project or practice area.

Frequently asked questions

Can you report profitability by client or project?
Yes, where the ledger or time system tracks client or project codes. We set up classes, tracking categories or projects if they are missing.

General information only, not legal, tax, audit or professional-conduct advice. Rules, standards and software features change, so confirm the position that applies to your firm before you act. See our disclaimer.

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