--- title: Professional Services Accounting | Accounted description: Accounting for consultants, agencies, and professional firms. Client profitability tracking, automated billing, and management accounts to grow your practice. --- [Skip to content](https://www.accountedltd.com/industries/professional-services-accounting#main-content) [![accounted copy(1)](https://www.accountedltd.com/hs-fs/hubfs/accounted%20copy(1).png?width=198&height=35&name=accounted%20copy(1).png "accounted copy(1)")](https://www.accountedltd.com/?hsLang=en) - Industries [Healthcare](https://www.accountedltd.com/industries/healthcare-accounting?hsLang=en) [Beauty](https://www.accountedltd.com/industries/beauty-accounting?hsLang=en) [Professional Services](https://www.accountedltd.com/industries/professional-services-accounting) [Startup Tech](https://www.accountedltd.com/industries/startup-tech-accounting?hsLang=en) [E-commerce](https://www.accountedltd.com/industries/ecommerce-accounting?hsLang=en) [Construction Trades](https://www.accountedltd.com/industries/construction-trades-accounting?hsLang=en) [Property](https://www.accountedltd.com/industries/property-accounting?hsLang=en) [Charity & CIC](https://www.accountedltd.com/industries/charity-cic-accounting?hsLang=en) - Services [Bookkeeping](https://www.accountedltd.com/services/bookkeeping?hsLang=en) [VAT Returns](https://www.accountedltd.com/services/vat-returns?hsLang=en) [Management Accounts](https://www.accountedltd.com/services/management-accounts?hsLang=en) [Payroll](https://www.accountedltd.com/services/payroll-services?hsLang=en) [Company Formation](https://www.accountedltd.com/services/company-formation?hsLang=en) [Annual Accounts](https://www.accountedltd.com/services/annual-accounts?hsLang=en) [Business Consulting](https://www.accountedltd.com/services/business-consulting?hsLang=en) [CFO Advisory](https://www.accountedltd.com/services/cfo-advisory?hsLang=en) [Self-Assessment Tax Returns](https://www.accountedltd.com/services/self-assessment-tax-returns?hsLang=en) - [About](https://www.accountedltd.com/about?hsLang=en) - [Contact](https://www.accountedltd.com/contact-us?hsLang=en) - Resources [Blog](https://www.accountedltd.com/blog?hsLang=en) - Academy [Account-ED Academy](https://www.accountedltd.com/academy?hsLang=en) [Account-ED Community](https://www.accountedltd.com/academy/community?hsLang=en) [Summer Internships](https://www.accountedltd.com/academy/summer-internships?hsLang=en) [Mentorship](https://www.accountedltd.com/academy/mentorship?hsLang=en) [Schools](https://www.accountedltd.com/academy/schools?hsLang=en) [Courses](https://www.accountedltd.com/academy/courses?hsLang=en) - [Book a Free Consultation](https://31oo85xkgla.typeform.com/to/EdwZPQAo) - [Client Login](https://manager.brightsg.com/signin) This is a search field with an auto-suggest feature attached. - There are no suggestions because the search field is empty. # Accounting for Consultants, Agencies & Professional Firms   Accounting that tracks what matters most: client profitability, billable time, and the metrics that drive professional service growth  \\   - [Book Your Free Consultation](https://31oo85xkgla.typeform.com/to/EdwZPQAo) ###### Our Partners - ![ACX\_nodate\_resized\_2135x1080](https://www.accountedltd.com/hs-fs/hubfs/ACX_nodate_resized_2135x1080.png?width=2135&name=ACX_nodate_resized_2135x1080.png "ACX_nodate_resized_2135x1080") - ![cima-logo-e1740475978206\_2135x1080](https://www.accountedltd.com/hs-fs/hubfs/cima-logo-e1740475978206_2135x1080.png?width=2135&name=cima-logo-e1740475978206_2135x1080.png "cima-logo-e1740475978206_2135x1080") - ![goldsmiths-logo\_2135x1080](https://www.accountedltd.com/hs-fs/hubfs/goldsmiths-logo_2135x1080.png?width=2135&name=goldsmiths-logo_2135x1080.png "goldsmiths-logo_2135x1080") - ![university\_of\_lancashire\_logo\_2135x1080](https://www.accountedltd.com/hs-fs/hubfs/university_of_lancashire_logo_2135x1080.png?width=2135&name=university_of_lancashire_logo_2135x1080.png "university_of_lancashire_logo_2135x1080") ## Why work with Accounted? We’re not just your accountants, we operate like part of your team. - Your own dedicated accountant - Monthly check-ins - Unlimited questions - Proactive support, not reactive - Total clarity on your numbers - Free consultation included ## Turn Billable Hours Into Profitable Growth Professional service firms have a unique challenge: time is your inventory, but without proper tracking, you don't know which clients are profitable and which are draining resources. Add irregular cash flow from retainers, late payments, VAT complications, and the complexity of managing contractors or partners, and your finances can quickly become unclear. We help consultants, agencies, and professional firms get visibility on profitability, automate billing, and make data-driven decisions about growth. ## Financial Support Tailored to Professional Service Firms ![credit-card](https://www.accountedltd.com/hubfs/credit-card.svg) ###### Automated Invoicing Automated invoicing and retainer management with recurring billing systems ![clock-1](https://www.accountedltd.com/hubfs/clock-1.svg) ###### Client Profitability Tracking Time-tracking integration and client profitability dashboards showing where you actually make money ![file-text](https://www.accountedltd.com/hubfs/file-text.svg) ###### VAT Compliance Complete VAT compliance for professional fees and consultancy services ![trending-up](https://www.accountedltd.com/hubfs/trending-up.svg) ###### Management Accounts Regular management accounts for strategic planning and growth decisions ![users](https://www.accountedltd.com/hubfs/users.svg) ###### Professional Payroll Payroll management for partners, associates, and freelance contractors ![briefcase](https://www.accountedltd.com/hubfs/briefcase.svg) ###### Expense Management Proper categorisation and reconciliation of client disbursements and business expenses ## What our customers are saying ![quote (1)](https://www.accountedltd.com/hubfs/quote%20(1).svg) Been with accounted for 4 years now and couldn't ask for better accountants. They are so professional, friendly and provide all services in a timely manner. Thank you for always going above and beyond! ![review](https://www.accountedltd.com/hs-fs/hubfs/unnamed.png?width=144&height=144&name=unnamed.png) Busola B. ![quote (1)](https://www.accountedltd.com/hubfs/quote%20(1).svg) Owning a business I have struggled with doing my own accounts. Accounted LTD have literally taken the burden off my shoulders and I will continue to use their services. ![unnamed (1)](https://www.accountedltd.com/hs-fs/hubfs/unnamed%20(1).png?width=120&height=120&name=unnamed%20(1).png) Imi Adedapo ![quote (1)](https://www.accountedltd.com/hubfs/quote%20(1).svg) My consultation with them was very insightful and clear - would 100% recommend to any SME, they are very professional!   ![unnamed (2)](https://www.accountedltd.com/hs-fs/hubfs/unnamed%20(2).png?width=144&height=144&name=unnamed%20(2).png) Grace Kamara ![quote (1)](https://www.accountedltd.com/hubfs/quote%20(1).svg) Accounted has helped me so much and has made my accounting back-end management much easier! Would 100% recommend to any SME that needs support.     ![Untitled design (37)](https://www.accountedltd.com/hs-fs/hubfs/Untitled%20design%20(37).png?width=500&height=500&name=Untitled%20design%20(37).png) Barbara A. ## Frequently Asked Questions What are you looking for? - ### Do I need an accountant if I'm a freelance consultant? Yes - we ensure professional invoicing, maximise your tax deductions, and provide clear cash flow visibility to support your business decisions. - ### Can you manage client retainer agreements?  Absolutely - we automate recurring invoices, track retainer balances, and manage renewal schedules efficiently. - ### How should I handle client expenses and disbursements? We categorise and reconcile all client-related expenses, ensuring HMRC-compliant record-keeping and proper cost recovery. - ### Do I need VAT registration for my consultancy business? Yes - VAT registration becomes mandatory once your annual turnover exceeds £90,000, though voluntary registration may be beneficial earlier. - ### Can you track billable time and profit margins per client? Yes - we use integrated project management and accounting tools to monitor time, costs, and profitability for each client engagement. - ### What's the best way to price my consultancy services? We provide detailed cost analysis and margin reporting to help you set competitive, profitable rates based on your actual business expenses. - ### Can you prepare monthly management accounts? Yes - we deliver comprehensive monthly reports that track business performance, profitability, and key financial metrics. - ### Do you work with law firms and professional agencies? Yes - we specialise in managing finances for professional service firms of all sizes, from sole practitioners to multi-partner practices. - ### How can I reduce tax on my professional income? Through strategic use of allowable business expenses, pension contributions, and selecting the most tax-efficient business structure for your circumstances. - ### Can you help with IR35 compliance and assessment? Yes - we review your client contracts, assess your IR35 status, and provide ongoing advisory to ensure compliance with off-payroll working rules. Can't find what you are looking for? [We would like to chat with you.](https://www.accountedltd.com/contact-us?hsLang=en) ## Related Services ### Bookkeeping Services Keep your finances organised with accurate, real-time bookkeeping. We record every transaction, reconcile your accounts weekly, and keep you HMRC-compliant so you can focus on running your business. [Read more](https://www.accountedltd.com/services/bookkeeping?hsLang=en) ### Management Accounts Gain financial clarity with monthly or quarterly management accounts. Track performance, forecast cash flow, and make data-driven decisions with tailored insights and KPI reporting. [Read more](https://www.accountedltd.com/services/management-accounts?hsLang=en) ### VAT Returns Stay compliant with HMRC’s Making Tax Digital rules. Our VAT specialists prepare, review, and submit your VAT returns accurately and on time - preventing costly penalties and overpayments. [Read more](https://www.accountedltd.com/services/vat-returns?hsLang=en) ## Stop guessing which clients are profitable When you bill by the hour, every client relationship should be analysed. Are you making money or just staying busy? With proper tracking, automated billing, and clear profitability reporting, you can make informed decisions about pricing, capacity, and growth. Book your free consultation and discover how professional services accounting can transform your firm. [Book Your Free Consultation](https://31oo85xkgla.typeform.com/to/EdwZPQAo) ## Get In Touch #### Resources - [Blog](https://www.accountedltd.com/blog) - [Academy](https://www.accountedltd.com/academy) #### Community - [Instagram](https://www.instagram.com/accountedltd) - [TikTok](https://www.tiktok.com/@accountedltd) - [LinkedIn](https://www.linkedin.com/company/accountedltd/posts/?feedView=all) - [WhatsApp](https://api.whatsapp.com/send/?phone=442035764072) --- [![Absolut theme logo](https://www.accountedltd.com/hs-fs/hubfs/raw_assets/public/@marketplace/Kohorta/Absolut/images/brand/absolut-logomark-nobg.png?width=30&height=37&name=absolut-logomark-nobg.png "Absolut theme logo")](https://www.accountedltd.com/?hsLang=en) ©Copyright 2025. All rights reserved - [Privacy](https://www.accountedltd.com/privacy-notice-accounted) - Terms - [About](https://www.accountedltd.com/about) - [Contact](https://www.accountedltd.com/contact-us)