Accounting for Professional Services Firms
Dedicated accounting for law firms, consultancies, architects, and other professional businesses that bill time and need proper financial reporting.
Accounting built around how professional firms actually work
Professional services firms have specific accounting needs that generic bookkeepers often miss — WIP tracking, fee income recognition, partner drawings, and billing realisation are not standard features of a small business accounting package.
VARISUM works with law firms, management consultancies, architects, and other professional businesses. We understand how you earn revenue, how partners are compensated, and what your reporting needs to show.
"For the first time we actually understand our lock-up and where our billing is leaking."
Managing Partner, boutique law firm
What we handle for professional firms
Accounting that reflects how you run your practice.
Monthly Bookkeeping
Accurate books every month — including WIP tracking, fee income recording, and disbursement management.
- Fee income recognition
- Disbursement recording
- Client account tracking
- Partner expense allocation
Partner & Director Reporting
Monthly reports structured for partners and directors — revenue per fee-earner, utilisation, and profitability by practice area.
- Revenue per partner / fee-earner
- Practice area P&L
- Billing and collection rates
- Overhead allocation
WIP & Billing Reconciliation
Reconcile your work in progress and billed hours every month so nothing slips through and billing stays on track.
- WIP opening / closing schedule
- Billing realisation analysis
- Lock-up days reporting
- Unbilled hours tracking
Year-End & Compliance
Full year-end preparation and compliance filings handled — so you can stay focused on your clients.
- Annual accounts preparation
- Regulatory filing support
- Corporation tax coordination
- Audit file support
Let us handle your practice accounting
Tell us about your firm and we will prepare a tailored accounting proposal within 24 hours.
Get a Proposal