Provider directory
Accounting and bookkeeping for consultancies and professional services firms
Consultancies and professional services firms sell time and expertise, so their books need to show whether each engagement is profitable after staff and subcontractor time. Revenue may be billed by milestone, retainer or time and materials, with project expenses recharged to clients. A generic bookkeeper may just record invoices. A suitable provider will track unbilled work, recurring retainers and utilisation-linked costs alongside the standard compliance work.
In short: Consultancies and professional services firms usually need revenue recognition for milestones, retainers and time-and-materials engagements and engagement-level profitability using staff and subcontractor costs from a accounting and bookkeeping provider. Check the questions below before you choose, or describe your need and get one to five free introductions.
What consultancies and professional services firms need from accounting and bookkeeping
- Revenue recognition for milestones, retainers and time-and-materials engagements
- Engagement-level profitability using staff and subcontractor costs
- Tracking of recharged expenses so they are billed to clients
- Accounts receivable follow-up for clients with long payment terms
- Multi-currency invoicing for overseas clients
- Clean separation of director fees, salaries and dividends for owner-managers
Questions to ask a provider
- How do you recognise revenue on fixed-fee engagements that span several months?
- Can you produce engagement or client profitability reports?
- Do you integrate with time-tracking or project tools we use?
- How do you handle invoicing and receipts in foreign currencies?
Pitfalls to avoid
- Recognising fixed-fee income on invoice rather than delivery makes some months look far better than others
- Recharged expenses that are never billed slowly erode margins
- Owner remuneration recorded inconsistently can create tax and documentation problems
More on accounting and bookkeeping
Our guide to finding a accounting and bookkeeping provider in Singapore covers typical costs, rules and how matching works.
Accounting and bookkeeping providers in Singapore
Sleek
Sleek is a revolutionary one-stop solution for entrepreneurs, SMEs and investors to register new businesses from anywhere and effortlessly manage their back office admin tasks.…
Osome
Osome is an AI-enabled fintech company supporting over 40,000 global startups and SMEs. Operating in Singapore, Hong Kong, the United Kingdom, and the United Arab Emirates, we help…
세원회계법인 - Seone Business Solutions Pte. Ltd.
SEONE is a premier Korean accounting firm in assurance, accounting and tax, and advisory services. The insights and quality services we deliver help build trust in the capital…
Margin Wheeler | Company Incorporation Singapore
Margin Wheeler is a leading corporate service provider in Singapore with decades of experience, having successfully incorporated thousands of companies across diverse industries…
VentureHaven Pte Ltd
At VentureHaven, we believe every business has the potential to be a great force for good, and a sustainable change-maker. That's why we support businesses to do what they do best…
Fastcorp Pte Ltd
At Fastcorp, we don't just help you incorporate your company. We help fast-track your growth. Our team consists of experienced professionals with years of legal, accounting and tax…
Accounting and bookkeeping for other industries
Other services for consultancies and professional services firms
Frequently asked questions
How do you recognise revenue on fixed-fee engagements that span several months?
Ask each provider this directly and compare the answers in writing. Recognising fixed-fee income on invoice rather than delivery makes some months look far better than others
Can you produce engagement or client profitability reports?
Ask each provider this directly and compare the answers in writing. Recognising fixed-fee income on invoice rather than delivery makes some months look far better than others
Can FYAdvisers introduce accounting and bookkeeping providers that work with consultancies and professional services firms?
Yes. Describe your business and what you need, and a concierge confirms your requirements, then introduces one to five providers that fit. It is free for businesses.
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