Professional Services Accounting  for High-Performing Firms

The Financial Edge Every High-Performance Firm Demands
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Turn Your Billable Hours into Bankable Profits

From billable hour optimization to partner profit distributions, we provide the accounting and financial services professional services firms need to maximize profitability and scale sustainable practices. Our team understands the intricate world of professional services finance and delivers solutions that align with your client deliverables and partnership objectives.

How Can We Help Your Professional Services Firm?

01

Project-Based Financial Reporting

Professional services demand precise project tracking and profitability analysis. Get detailed financial statements, utilization metrics, and client-ready reports that reveal true project margins and firm performance.

02

Revenue Recognition and WIP Management

Managing revenue across multiple projects with varying terms requires expert oversight. Stay compliant with ASC 606 while optimizing cash flow through accurate work-in-progress tracking and milestone-based recognition.

03

Client Billing and Collections Optimization

Successful cash flow depends on efficient billing processes. Get streamlined invoicing systems, automated time tracking integration, and collection strategies that reduce DSO and improve client relationships.

04

Professional Services Tax Strategy

Navigating pass-through entity taxation and multi-state obligations creates complexity. Maintain tax efficiency with strategic entity structuring, QBI optimization, and proactive planning that minimizes liability across jurisdictions.

05

Partner Compensation and Equity Management

Complex partnership structures require sophisticated financial oversight. Ensure accurate profit distributions, equity tracking, and compensation planning that aligns with performance metrics and partnership agreements.

06

 Financial Planning and Analysis for Growth

Sustainable growth requires data-driven decision making. Make strategic choices with expert budgeting, scenario modeling, and financial forecasting that supports expansion and resource allocation.

07

Professional Services Payroll and Benefits

Professional services payroll presents unique challenges. From contractor classifications to complex bonus structures, ensure accurate payments and seamless integration with project accounting.

08

Profitability Analysis and Resource Planning

Understanding true profitability drives better resource allocation. Transform billing data into actionable insights with utilization analyses, rate optimization studies, and capacity planning models.

09

Audit Preparation and Risk Management

Growing firms face increasing scrutiny from lenders and investors. Stay audit-ready and meet all compliance requirements while maintaining focus on client service and business development.

At indinero, we tailor our services to meet the unique needs of your firm at every stage of growth.
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Financial Services for Every Stage of Growth

Emerging Firms

  • Establish project accounting systems and time tracking
  • Set up client billing and contract management
  • Create initial budgets and utilization reports

Growing Practices

  • Implement advanced revenue recognition protocols
  • Enhance profitability analysis and partner reporting
  • Develop multi-year growth forecasts
  • Establish internal financial controls

Established Firms

  • Manage complex, multi-office financial operations
  • Optimize resource allocation across practice areas
  • Support strategic planning with sophisticated modeling
  • Facilitate mergers or practice acquisitions

Professional Service Expertise

Accounting and tax for firms of different sizes

Unique Financial Management Needs of Professional Services

Professional services firms face distinctive financial challenges that require specialized expertise

Project Profitability: Professional services firms must track costs and revenue across multiple concurrent projects with varying scopes. We help you implement systems that reveal true project margins and identify your most profitable work.

Utilization Management: Billable hour optimization directly impacts profitability. We provide detailed utilization analysis and capacity planning to maximize your team’s revenue-generating potential while maintaining work quality.

Multi-State Compliance: Professional services often operate across state lines, creating complex tax obligations. We help you navigate nexus requirements and optimize your tax structure across multiple jurisdictions.

Client Billing Efficiency: Streamlined billing processes reduce collection time and improve client relationships. We implement automated systems that capture billable time accurately and accelerate payment cycles.

Revenue Recognition: With complex billing arrangements and milestone-based deliverables, professional services need sophisticated revenue tracking. Our services ensure ASC 606 compliance while optimizing cash flow timing.

Partnership Accounting: Complex ownership structures and profit-sharing arrangements require careful financial management. We ensure accurate partner distributions and provide transparent reporting that supports partnership decisions.

Cash Flow Planning: Project-based billing creates irregular cash flow patterns. We help develop forecasting and budgeting systems that smooth out revenue fluctuations and support strategic growth investments.

Resource Planning: Professional services success depends on having the right talent at the right time. We provide financial modeling that supports hiring decisions and capacity planning for sustainable growth.

CFO Services

You need a partner that can steer you through pivotal moments. Through budgeting and forecasting, cash flow management, and strategic planning, our CFOs ensure your financial strategy is effective.

Financial Analysis

Our financial analysis services give you a comprehensive understanding of your business's financial performance, helping you identify trends, spot opportunities, and mitigate risks.

Tax Planning & Filing

Navigating the maze of tax strategies can cause migraines and leave you wondering if you’re taking advantage of every benefit. Our comprehensive tax services can optimize your tax planning and minimize tax liabilities.

Bookkeeping Made Easy

Maintaining meticulous books can divert your focus from core business activities. We’re here to change that. Our bookkeeping services simplify finances, reduce mistakes, and boost efficiency.

All Systems Go

Start the journey together

The Hidden Costs of Automated Bookkeeping

Where do you see your company in five years?

At the next stage of growth OR spending hundreds of thousands of dollars to fix an accounting mistake?

Download our white paper to uncover:

  • The risks of relying solely on AI for your financial operations
  • Why human expertise is crucial for strategic accounting
  • How to protect your company from costly financial errors
Get our White Paper

Over 15 years serving law firms, consultancies, and advisory practices.


Sometimes entrepreneurs still have their hands in the finances when they really shouldn't. And bringing on a partner like indinero is extremely liberating if you're ready to trust them and let go of that control, what you're really letting go of is, is a burden because I still have all the control I want in my company.

I actually have better control because I have more clarity, but I don't have any of the burden. I don't worry about my books at all anymore.
@Nels Jensen, CEO, Williamsburg Learning
"Three things that I love about indinero are the speed and quality of our communications, making sure we are compliant and educated on our responsibilities, and your proactive approach to inform us about all the stuff that we may need or can take advantage of."
@Matt Maslowski, Founder, Smartschool
"My peace of mind has increased tenfold around finances. I just don’t have to worry about it anymore."
@Matt Maslowski, Founder, Smartschool
“Indinero’s saved us about 30% on financial management. We’ve reduced our costs from $95,000 for an in-house salary to under $6,000 monthly. The whole process with indinero is so much faster and more efficient, and errors have been significantly reduced. The service functions as part of my company and my team.”
@Nels Jensen, CEO & Co-Founder, Williamsburg Learning
"I’ve been through 10 bookkeepers in 16 years, indinero is the best we have worked with, and there is no close second. They are the first bookkeeper who successfully set us up for accrual bookkeeping. That seems a real struggle for food service companies because it is a lot of work."
@Scott Mahan, Founder, Masterpiece Cuisine

Startup Financial Resources

  • Top 5 Financial Mistakes Startups Make (And How to Avoid Them)
  • Preparing Your Startup for Series A Funding
  • The Startup’s Guide to R&D Tax Credits
  • Burn Rate and Runway Calculator

Industries We Serve in the Startup Ecosystem

  • SaaS and Software
  • Biotech and Healthcare
  • E-commerce and Marketplaces
  • FinTech
  • AI and Machine Learning 
Types of Professional Service Firms We Serve

  • Law Firms

  • Consulting Firms

  • Architecture & Engineering Firms

  • IT Services & Technology

  • Marketing & Advertising Agencies

Partner with Indinero to Maximize Your Firm's Profitability

Don’t let financial complexity distract from serving clients and growing your practice. With indinero, you get a dedicated team that understands professional services accounting, from revenue recognition to partner distributions. We handle the financial details while you focus on delivering exceptional client results.

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R&D Offer Quiz

Step 1 of 3

Answer to find out if you're eligible for R&D tax credits.

Do the activities performed relate to a new or improved business component’s function, performance, reliability, quality, or composition?(Required)
For Example: A mid-sized packaging company develops a slightly modified cardboard box design to improve its stacking strength (reliability) for warehouse storage, involving minor adjustments to the corrugation pattern to reduce collapse under standard weight loads.
Is your company trying to discover information to eliminate uncertainty concerning the capability or method for developing or improving a business component?(Required)
For Example: A furniture manufacturer investigates whether a cheaper wood adhesive can hold joints as effectively as the current one during assembly, testing bond strength to resolve doubts about its capability in standard production lines.
Do the activities performed constitute a process of experimentation?(Required)
For Example: An auto parts supplier runs a series of bench tests on different lubricant formulations to find one that reduces friction in engine bearings more effectively, systematically comparing wear rates over simulated operating cycles.