Finance & Accounting for Professional Services
Professional services finance, simplified
Unify project billing, revenue recognition, and resource economics in one AI-native finance platform built for consulting firms, law firms, agencies, and accounting practices.
Complete engagement economics
Connect time tracking, project budgets, and client billings in a single ledger. Track realization rates, write-offs, and fee-adjusted revenue across every engagement and practice group with automated WIP posting and real-time profitability visibility.
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Built for professional services finance teams
Project billing & invoicing
Automate time-and-materials, fixed-fee, and milestone-based billing. Generate client invoices from recorded time and expenses with configurable rate cards, approval workflows, and automated revenue recognition.
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WIP & revenue recognition
Track unbilled time and costs as WIP with automated aging and write-off alerts. Recognize revenue by milestone, percent complete, or straight-line with drill-down from summary to individual time entries.
Resource cost allocation
Allocate payroll, overhead, and subcontractor costs to engagements and practice groups. Track fully loaded cost rates, margin contribution, and partner profitability with automated journal entries.
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Multi-entity accounting for professional services
Office & practice group consolidation
Consolidate financials across offices, practice groups, and international entities. Automate intercompany chargebacks for shared resources and standardize charts of accounts across global partnerships.
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Client & engagement profitability
Track fees, write-offs, and fully loaded costs by client, engagement, or matter. Allocate partner time and overhead with flexible drivers to see true profitability and optimize pricing and staffing.
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Time-tracking integration
Import time and expense data from any time-tracking system automatically. Map entries to engagements, clients, and tasks with configurable billing rules and real-time WIP accrual.
Retainer & advance billing
Manage client retainers, trust accounts, and advance billings with automated drawdown tracking. Reconcile billed vs. utilized amounts and generate replenishment alerts before balances run low.
Regulatory audit trails
Maintain immutable audit trails for every time entry, adjustment, and write-off. Support SOX-compliant workflows, role-based access, and automated audit trails for partnership and regulatory audits.
Real-time professional services analytics
Financial control without operational friction
Bring project delivery and finance together with dashboards that show utilization, realization, and effective billing rates. Empower CFOs and managing partners to make faster, data-driven pricing and staffing decisions.
KPI dashboards for services CFOs
Monitor utilization rate, realization rate, effective billing rate, write-off percentage, days sales outstanding, and margin by practice group in real time. Set thresholds and alerts to protect profitability.
Budget vs. actual by engagement
Compare budgeted and actual hours, fees, and costs by engagement or client. Adjust forecasts dynamically based on scope changes, staffing mix, and historical realization patterns.
Professional Services Finance & Accounting FAQ
LEDGER automates revenue recognition for time-and-materials, fixed-fee, and milestone-based engagements. It tracks WIP aging, recognizes revenue by percent complete or milestone, and generates invoices with configurable billing rules.
Yes. LEDGER consolidates unlimited offices, practice groups, and international entities with automated intercompany chargebacks, shared resource allocations, and elimination entries while preserving local statutory reporting.
LEDGER tracks unbilled time and costs as WIP with automated aging alerts and write-off workflows. It monitors realization rates, flags at-risk engagements, and drills down from summary balances to individual time entries.
Yes. LEDGER allocates fees, write-offs, payroll, and overhead to clients and engagements with flexible drivers. It shows fully loaded profitability, effective rates, and margin contribution for data-driven pricing and resource decisions.
Track utilization rate, realization rate, effective billing rate, write-off percentage, days sales outstanding, margin by practice group, and partner profitability with configurable dashboards and automated alerts.
LEDGER manages client retainers, trust accounts, and advance billings with automated drawdown tracking. It reconciles billed vs. utilized amounts and generates replenishment alerts before balances run low.
LEDGER provides role-based access controls, immutable audit trails, and configurable workflows that align with SOX internal control standards and support partnership audits, regulatory reviews, and client-matter confidentiality requirements.