Monthly vs Project-Based Bookkeeping for Consultants – Which Works Best?

Consultants don’t all operate the same way. Some bill retainers every month, others work project to project. So should your bookkeeping match your billing model? This guide explores the benefits of both-and how to choose what fits your workflow.

Download Our Free Brochure →

Monthly Bookkeeping

Best For:

  • Retainer-based consultants
  • Coaches with recurring billing
  • Firms with regular monthly expenses

Pros:

  • Consistent cash flow monitoring
  • Predictable monthly reporting
  • Easier quarterly tax prep

Cons:

  • May require accrual adjustments if income is earned over time

Project-Based Bookkeeping

Best For:

  • High-ticket or milestone-based consulting work
  • Freelancers juggling multiple projects

Pros:

  • Allows per-project profit tracking
  • Matches revenue and expenses to delivery

Cons:

  • More complex reconciliation and reporting
  • Can delay tax readiness if not updated monthly

Test Case

A consultant running both retainers and one-off projects needed clarity. We split her bookkeeping structure:

  • Retainer clients = monthly reconciliation
  • Projects = tracked separately by job name

Now she sees income, time, and margin by client type.

Download Our Free Brochure →

Not sure which bookkeeping model fits? Our consultant bookkeeping team will customize reporting to your workflow.

Bookkeeping for Consultants Across States

Bookkeeping for Consultants Across Key ZIPs

View All ZIP Codes

FAQs

Can you track projects separately from monthly income?

Yes. We tag jobs, projects, or clients for segmented P&Ls.

Do you work with coaching, creative, and technical consultants?

Absolutely. Our model flexes by industry and income type.

Can I change from monthly to project-based later?

Yes. We adjust your bookkeeping setup as your business evolves.

No matter how you bill, we’ll make sure your books match. Stay flexible-and stay accurate.

Schedule your custom bookkeeping consultation now

Streamline Your Finances: Download Our Free Bookkeeping Brochure

Take control of your business finances with confidence! Our detailed brochure provides insights into how Remote Books Online can help you maintain accurate bookkeeping, stay tax-ready, and make informed financial decisions. Discover how our tailored bookkeeping services can support your business growth and simplify your financial management.