Professional Services

Professional Accounting Services That Bill by the Hour

Finsmart delivers dedicated tax professional CPAs who understand how professional services firms earn, track, and report revenue.

Law firms, consulting practices, and staffing agencies run on billable time, project milestones, and complex revenue recognition.

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Law Firm Accounting Project Billing Revenue Recognition 7-Day Onboarding 4.8★on G2
300+
Clients Served Worldwide
100+
CPA & Accounting Firms
19+
Years in Business (Est. 2007)
4
Geographies: US · UK · Europe · UAE
Who We Serve

Accounting for Every Type of Professional Service Firm

At Finsmart, our dedicated offshore accountants have 19+ years of experience in the following industries:

Scales of justice - law firm accounting

Law Firms

Trust accounting (IOLTA), client ledger reconciliation, matter billing, contingency fee tracking, partner draw management; our professional tax preparers are trained in legal industry nuances and software.

Explore law firm accounting →
Consulting firm team collaboration

Management Consulting

Whether you need project-based billing, WIP tracking, milestone revenue recognition under ASC 606, or utilisation reporting, you can rely on our professional accounting services for accurate financial reporting of your consulting practices.

Explore consulting accounting →
Staffing agency professionals

Staffing & Recruiting

Managing 1099 contractors, W-2 employees, multi-state payroll tax, our professional tax and accounting services handle your tax compliance so you can focus on placements, client relationships & growth.

Explore staffing accounting →

Core Capabilities

Professional Accounting Services Built Around How Your Firm Actually Bills

Professional business services deal with billing complexity that generic bookkeeping services routinely get wrong. Finsmart professional tax services address the accounting challenges your firm faces daily.

  • Time & Billing Reconciliation Match billable hours logged in your practice management software to invoices issued and payments received. Eliminate revenue leakage from unbilled time.
  • Revenue Recognition (ASC 606) Proper recognition of project-based, milestone-based, retainer-based revenue. We track deferred revenue, WIP, unbilled receivables accurately every period.
  • Project-Level Profitability Cost-by-project reporting so you know which engagements are profitable, which are bleeding margin, and where to realign resources or renegotiate fees.
  • Accounts Receivable Management Invoice tracking, aging reports, client payment follow-ups, and collections workflow management - keeping DSO low and cash flow predictable.
  • Monthly Financial Reporting Partner-ready P&L, balance sheet, cash flow, and utilization reports delivered on your close schedule - formatted for how your firm's leadership makes decisions.
Firm-Specific Expertise

Accounting That Understands How Your Firm Operates

Each professional services segment has its own billing model, compliance requirements, and financial reporting needs. Finsmart handles all of them.

Law Firms

Solo practitioners · Regional firms · BigLaw back-office

  • IOLTA trust account reconciliation and compliance tracking
  • Matter-level billing reconciliation with Clio, MyCase, or PracticePanther
  • Partner draw and capital account management
  • Contingency fee revenue recognition and case cost tracking
  • Origination credit allocation and performance reporting
  • Year-end K-1 preparation support for law firm partners

Consulting Firms

Management · IT · Strategy · HR consulting

  • ASC 606 revenue recognition for time-and-materials and fixed-fee engagements
  • Work-in-progress (WIP) and deferred revenue tracking
  • Engagement-level P&L and gross margin analysis
  • Subcontractor cost tracking and 1099 preparation
  • Reimbursable expense billing and client reconciliation
  • Utilization rate reporting for principals and staff

Staffing Agencies

Temp · Contract · Permanent placement

  • Contractor and temp worker payroll processing and reconciliation
  • Client billing vs. payroll spread and margin tracking
  • High-volume accounts receivable aging and collections management
  • Placement fee revenue recognition and guarantee period tracking
  • W-2 and 1099 compliance for mixed workforce structures
  • Weekly cash flow forecasting for payroll funding requirements

Problems We Solve

The Professional Tax and Accounting Gaps Most Firms Never Catch

Most professional service firms lose 10–15% of billable revenue to poor time capture, billing errors, and misapplied revenue recognition. Here is what Finsmart closes.

Unbilled Time and Expenses

Work gets done, but invoices never go out. We reconcile your time-tracking software against issued invoices to surface every dollar of unbilled work before month-end.

Premature Revenue Recognition

Recognizing revenue before it is earned creates compliance risk and distorts financial performance. We apply ASC 606 correctly across every project type and billing arrangement.

No Visibility Into Project Profitability

Without engagement-level reporting, high-revenue clients can quietly be your worst performers. We give you the cost-vs-revenue breakdown by client and project every month.

Partner or Principal Compensation Confusion

Draws, distributions, K-1s, and equity tracking should be clean and current. We maintain partner capital accounts and prepare the schedules your CPA needs for year-end.

Transparent Pricing

You See the Price Before You Pick Up the Phone.

Unlike many offshore accounting providers who force you to call for a quote, Finsmart publishes its rates. No negotiations. No surprises.

Bookkeeping Seat

Full-time, dedicated bookkeeper. Works in your tools. Reports to you.

$20 /hr

or

$2,400 /mo dedicated
  • Bank and credit card reconciliation
  • Monthly financial statements
  • Invoice and billing reconciliation
  • Expense categorisation and coding
  • Works in QBO, Xero, or your software
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MOST POPULAR

Sr. Accounting Seat

US GAAP-trained accountant. Monthly close, financial statements, audit support.

$3,200 /month

or

$25 /hr - Hourly Seat available
  • All Bookkeeping Seat tasks
  • Project billing and WIP reconciliation
  • ASC 606 revenue recognition support
  • Engagement-level profitability reports
  • Trust account / IOLTA reconciliation
  • AR aging management and follow-up
Schedule a Call

Reviewer Seat

Senior-level review and sign-off. Controller oversight for complex engagements.

$3,600 /month

or

$30 /hr - Hourly Seat available
  • All Sr. Accounting Seat tasks
  • Full financial file review and sign-off
  • Controller-level oversight and escalation
  • Partner capital accounts and distributions
  • Board-ready reporting and FP&A
  • Multi-entity and multi-partner oversight
Schedule a Call

All seats are full-time, dedicated professionals. Prices in USD. UK, Europe and UAE pricing available on request.

Your Software Stack

We Work in Your Existing Tools - No Migration Required

Your Finsmart seat arrives pre-trained on the accounting software and practice management platforms already in use at your firm. No proprietary portals, no forced migrations.

Accounting Software

QuickBooks Online, Xero, Sage Intacct, NetSuite - we work in whichever platform your firm already relies on for the general ledger and reporting.

Practice Management

Clio, MyCase, PracticePanther (legal), BigTime, Harvest, Teamwork (consulting) - your billing data syncs cleanly to the books every period.

AR & Billing Platforms

Bill.com, Stripe, LawPay, and standard ACH workflows - your dedicated accountant reconciles payments against invoices without disrupting your billing process.

Payroll Platforms

Gusto, ADP, Paychex, and Rippling payroll journal entries coded correctly to the GL - including allocations across departments, projects, or cost centers.

Your Communication Stack

Slack, Microsoft Teams, email, or any project management platform your firm already uses - your dedicated accountant works inside your environment, not theirs.

Document & Storage

SharePoint, Google Drive, Dropbox, or your document management system - supporting files are handled in your secure workflow with full NDA coverage on every professional.

Client Stories

What Our Clients Say

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Up and Running in 7 Business Days

Getting Started With Our Professional Accounting Services

No lengthy vendor onboarding, no discovery SOWs, no slow start. Finsmart deploys your dedicated accounting professional in one week.

Step 01

Discovery Call

A 30-minute call to understand your business, your accounting software, and the exact finance function you need.

Step 02

Seat Selection

We recommend the right seat. Bookkeeping, Sr. Accounting, or Reviewer. We show you exactly what your professional will handle from Day 1.

Step 03

Onboarding

Your dedicated professional is briefed, introduced, and given access to your tools and software. NDA signed. Ready within 7 business days.

Step 04

Ongoing Work

Your professional works in your accounting software, follows your processes, and is fully managed by Finsmart's 3-tier team.

Common Questions

Professional Services Accounting FAQs

Answers to the questions professional service firms ask most before hiring a dedicated accountant.

Yes. Finsmart professionals who serve law firms are trained in IOLTA (Interest on Lawyer Trust Accounts) reconciliation requirements — maintaining client ledger balances, reconciling trust bank accounts, and ensuring the books are always in compliance with state bar rules.
Yes, we manage milestone-based, percentage-of-completion revenue recognition under ASC 606. You can expect accurate financials for your project-based engagements, contracts.
Yes. Finsmart integrates with your time, billing software, such as Clio, MyCase, QuickBooks Time, or Harvest. We track billable hours, reconcile WIP, flag unbilled time. We also produce realization rate reports by partner, client, practice area.
Finsmart professionals are trained on QuickBooks Online, Xero, Sage Intacct, and practice management platforms commonly used in professional services. Your dedicated accountant arrives pre-trained on the software your firm already uses.
A Bookkeeping Seat starts at $20/hr or $2,400/month dedicated. The Sr. Accounting Seat — which includes billing reconciliation, WIP tracking, revenue recognition, and management reporting — starts at $25/hr or $3,200/month. All seats include the 3-tier support team at no extra cost. No contracts, cancel anytime with 30 days' notice.

Get a Dedicated Accounting Professional for Your Firm in 7 Days

Law firm trust accounting. Consulting project billing. Staffing payroll reconciliation. Whatever the complexity, Finsmart has the specialist your firm needs at transparent, published pricing.

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NDA Signed by Every Professional
7-Day Onboarding Guarantee
No Contracts · Cancel Anytime
300+ Clients · Est. 2007