Engagement-level margin, unbilled WIP recorded monthly, and realization reporting that makes pricing decisions obvious.
In a services firm, the difference between a profitable client and a busy one is invisible without engagement-level economics. Most firms have revenue and headcount but no reliable view of which work actually pays.
We run the accounting and CFO function for agencies, consultancies, and licensed professional firms where people are the cost and time is the product.
Without time captured against engagements, there's no way to distinguish a profitable client from a demanding one, or a productive team from a busy one.
Work performed and not yet invoiced is an asset most firms never book, which pushes revenue into the wrong month and understates the balance sheet.
Fixed-fee and milestone engagements recognize over time under ASC 606, not when you bill. The gap grows with the size of the engagement.
Partner draws taken against uncollected revenue create a cash squeeze that arrives without warning.
We tie time and expense to engagements, record unbilled WIP monthly, recognize fixed-fee revenue over time, and report realization and effective rate by client and by team — so pricing, staffing, and partner comp discussions have numbers underneath them.
By client, by team, by service line.
Recorded monthly, not discovered at year end.
ASC 606 compliant recognition over time.
What you actually collect per hour delivered.
Draws modeled against collections, not bookings.
Cash versus accrual method selection materially changes the timing of taxable income for service firms and is worth modeling rather than inheriting. State pass-through entity elections can move real money at the partner level. Services delivered remotely create apportionment and registration obligations that follow where the work is performed, not where the firm is headquartered.
Less of it. For hourly firms the bigger wins are unbilled WIP, realization reporting, and engagement-level margin.
Generally yes. Time and billing stay where your team already works; we reconcile into the ledger.
Yes, coordinated with the tax side so distributions don't outrun cash or create surprises at filing.
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