For law firms, engineering and environmental consulting firms, agencies, consultancies, and architecture firms, the profit hides in utilization, realization, and project margin. We make it visible. Based in Lexington, KY and serving firms nationwide.
A professional services firm sells time and expertise, and the money is made or lost in the details of how that time gets tracked, billed, and collected. Two firms with the same revenue can be worlds apart on profit. The difference is whether you can see it.
We give professional services firms a finance function that answers the questions that actually matter: which clients and projects earn, where time leaks out unbilled, and whether the cash will be there when payroll and distributions come due. It is the same three-tier approach, from clean books to a Fractional CFO, sized to how your firm works.
Billable time tracked against capacity, and billed dollars tracked against worked hours, so you can see who is busy, who is profitable, and where the two do not match.
Revenue and cost land against the engagement, so you know which clients and projects carry the firm and which quietly drain it.
A clear view of work delivered but not yet billed, so revenue is recognized on time and nothing slips through to a write-off.
For law firms, client trust funds stay exact and separate, reconciled apart from operating cash, with retainers drawn down as work is billed.
Distributions, draws, and profit shares handled cleanly, with the reporting partners need to see how the firm and their share are tracking.
Project and retainer billing makes cash lumpy. A rolling forecast shows the tight weeks early, so payroll and distributions are never a guess.
Professional services covers a lot of ground, and the accounting rhythm is different for each. We work with law firms and legal practices, engineering firms, environmental consulting firms, marketing and creative agencies, consultancies, and architecture firms. What they share is a business built on billable time and project work, where knowing the real margin changes the decisions you make about pricing, hiring, and which clients to chase.
Yes. Client trust funds have to be exact and separate. We keep trust reconciled and apart from operating cash, with retainers drawn down as work is billed and reported so nothing gets commingled.
Yes. We set up your books so revenue and cost land against the client, matter, or project. That is usually the first time a firm can see clearly which work earns and which does not.
No. Baum's Accounting Services does not prepare or file income tax returns. That work goes to an outside CPA firm, and we hand your preparer clean, closed books and clear answers. If you need a preparer, we can point you toward firms that handle work like yours.
No. We are based in Lexington, KY and work with professional services firms across Central Kentucky and nationwide through fully remote service.
Where firms like yours usually go next.
Trust accounting, matter-level profitability, and partner distributions handled with care.
Read morePricing, capacity, and growth decisions guided by someone who has sat in the seat.
Read moreUtilization, realization, and margin on a dashboard you check without waiting for month-end.
Read moreBook a consultation and we will look at how your time, billing, and margin connect, and where the profit is hiding.
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