When your product is people, the most critical component to your financial reporting is monitoring profitability. Whether you're operating on a fixed fee or hourly model, getting paid on contingency, or combination of revenue models, you need to know what is going on behind the numbers. From tracking out of scope work, special projects, add-ons and employee or client inefficiencies, the integrity of your job costing and class tracking reports is paramount to your success. We understand the importance of this not just as an accounting services company but also because we rely on the same level of reporting and analysis for our own business.
All our professional services clients benefit from our extensive expertise in actual job costing. We utilize the actual method (as opposed to the standard method) because it is the most precise and insightful method of analyzing your true profitability across clients, lines of business, revenue model types and more. If it can be measured and analyzed to help you run your business better, we are going to do it.
Understanding your gross profit margin requires precision, accuracy and attention to detail. For over 15 years we have reviewed the books of countless professional services companies and found that at least 95% have unspecified transactions before becoming our clients. This is a common problem and a main issue we make a mission to fix. Your financial reports must help you make better business decisions and gain control and clarity into your business. Not classifying transactions appropriately renders your financial reports essentially useless—which is why we mean it when we say "We Don't Do Miscellaneous".
Wondering if we can help your company?