5.0 out of 5 based on 41 reviews
Accounting for Consultants, Architects and Engineers
If you sell time and expertise, the gap between hours worked and hours paid is your whole margin. Most firms have never measured it.
★★★★★“Since adding Alex with Stronghold Accounting for our bookkeeping, it has truly been a Godsend for our business. Alex cleaned up a difficult QuickBooks transition and became a game changer for our month-to-month bookkeeping.”Patty LeslieTampa
★★★★★“I like that you're helping me strategize, not just giving me numbers. There were still blind spots that you've been able to uncover for me. I didn't think that was possible.”JoelService-business owner
★★★★★“Alex and his team helped bring the books current and continue to provide monthly support while helping plan for growth.”Dr. MaloneLake Mary
★★★★★“Alex is sharp, detail-oriented, and genuinely passionate about his work. He explains the numbers clearly and helps business owners gain more control over their finances.”Baxter McCoyOrlando
★★★★★“Since adding Alex with Stronghold Accounting for our bookkeeping, it has truly been a Godsend for our business. Alex cleaned up a difficult QuickBooks transition and became a game changer for our month-to-month bookkeeping.”Patty LeslieTampa
★★★★★“I like that you're helping me strategize, not just giving me numbers. There were still blind spots that you've been able to uncover for me. I didn't think that was possible.”JoelService-business owner
★★★★★“Alex and his team helped bring the books current and continue to provide monthly support while helping plan for growth.”Dr. MaloneLake Mary
★★★★★“Alex is sharp, detail-oriented, and genuinely passionate about his work. He explains the numbers clearly and helps business owners gain more control over their finances.”Baxter McCoyOrlando
★★★★★“Since adding Alex with Stronghold Accounting for our bookkeeping, it has truly been a Godsend for our business. Alex cleaned up a difficult QuickBooks transition and became a game changer for our month-to-month bookkeeping.”Patty LeslieTampa
★★★★★“I like that you're helping me strategize, not just giving me numbers. There were still blind spots that you've been able to uncover for me. I didn't think that was possible.”JoelService-business owner
★★★★★“Alex and his team helped bring the books current and continue to provide monthly support while helping plan for growth.”Dr. MaloneLake Mary
★★★★★“Alex is sharp, detail-oriented, and genuinely passionate about his work. He explains the numbers clearly and helps business owners gain more control over their finances.”Baxter McCoyOrlando
What makes professional firm accounting different
Your biggest asset is your team’s time, and profitability depends on how effectively that time turns into billable, collectible work. That means accounting has to go beyond the P&L and show you which projects, clients, and service lines are actually profitable.
Time tracking into the ledgerThe integration that decides everything on this page is time tracking into the ledger. Without it, project margin cannot be calculated and the rest is reporting on incomplete data.
The problems that only happen at professional firms
01Time recorded but never reconciled to revenueMost firms track time in one system and revenue in another and never compare them. Without that comparison, utilization and realization are both guesses, and they are the two numbers that determine whether the firm is profitable.
02Fixed-fee projects priced on optimismAn architect quotes a fee based on the scope discussed. Revisions, extra meetings and a client who changes direction in month three are absorbed rather than billed. The firm knows the project felt painful. It rarely knows what it actually earned.
03Phased projects and revenue recognized too earlyDesign work runs across phases and months. Billing on a milestone schedule while recognizing revenue as invoiced makes profitability lurch by billing date rather than by work done.
04Subconsultant costs buried in overheadAn engineer subcontracted on a project, a specialist brought in for one phase. If those costs are not attached to the project they served, project margin is fiction and the firm underprices the same work next time.
05Principal time never costedIn small firms the owner is the most expensive resource and their time is usually treated as free because it is not on payroll in the same way. Projects the principal worked heavily look profitable and are not.
06Reimbursable expenses not tracked as reimbursableTravel, printing, permit fees, plotting. Advanced on behalf of a client and recorded as firm expense, they quietly become a discount.
What we handle for professional firms
The problem
What we do
Utilization and realization
Time reconciled to revenue, so utilization and realization are measured rather than estimated
Project margin
Project-level profitability, with subconsultant and reimbursable costs attached to the project
Principal time
Principal and owner time costed into projects, at a rate that reflects what it is worth
Revenue recognition
Revenue recognized as work is delivered on phased and fixed-fee engagements
What we monitor for professional firms
RealizationHours billed divided by hours worked
UtilizationMeasured rather than estimated
Project marginProject-level margin rather than period-level profit
Time to cashTime worked, time billed, and cash collected
Software we work in
QuickBooks Online for the general ledger, with Harvest among the systems Stronghold has used for time and project data. The integration that decides everything on this page is time tracking into the ledger. Without it, project margin cannot be calculated and the rest is reporting on incomplete data.
How it works
STEP 1Time and revenue baseline first. Hours worked against hours billed against cash collected, for the last few completed projects.
STEP 2Project structure. Chart of accounts and tracking set up so margin by project is visible from the first close.
STEP 3Foundation Buildout, where retainers or reimbursables were recorded as revenue. The typical timeline is 2-4 weeks.
STEP 4Monthly close, with a project margin report alongside the P&L.
Proof
11% → 16%Net margin over the following six months, creative agency
8 monthsOf activity cleaned up, with job-costing and labor-utilization reporting implemented
For a creative agency with about $1.2 million in annual revenue, Stronghold cleaned up eight months of activity and implemented job-costing and labor-utilization reporting. Over the following six months, net margin improved from about 11% to 16%.Creative agency
Services professional firms usually need
See more services for professional firms
Common questions
Professional firm questions
Why are architects, engineers and consultants on one page?
Because the accounting problem is the same. All three sell expertise against a fee, carry the gap between hours worked and hours paid, and need project-level margin rather than period-level profit. The vocabulary differs and the mechanics do not.
How do we work out our realization rate?
Hours billed divided by hours worked, then measured against what was collected. It needs time tracking that reconciles to the ledger, which is the first thing we set up.
We work on fixed fees, not hourly. Does this still apply?
More so. On hourly work an overrun is at least visible. On a fixed fee it is absorbed silently, and without time data you cannot tell which fees are set too low.
Should we cost the principal’s time into projects?
Yes. In a small firm the owner is usually the most expensive resource on the job, and projects they worked heavily look profitable only because that cost is missing.
A client paid a retainer up front. Is that revenue?
Not until the work is done. It sits as a liability and releases as you deliver.
Do you handle multi-state work?
Yes. Stronghold serves clients virtually across the US and coordinates specialized state compliance when needed.
Do you prepare our tax return?
Stronghold handles proactive tax planning and works with an integrated tax-preparation partner for filing. We coordinate the year-end handoff so the books, planning, and return preparation stay connected.