Accounting for Challenge’s Professional Services Enterprises

Certified India-based team with CPA oversight. WIP reporting, utilization metrics, and project profitability made simple.

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Service firms in Challenge depend on accurate time-tracking, clean billing cycles, and reliable monthly reporting. Our professional services accounting model helps Challenge agencies, consultancies, legal firms, engineering teams, and advisors organize their financials so every hour and engagement is reflected correctly in revenue.

We refresh your Challenge accounting workflow by structuring billable vs. non-billable categories, integrating time-tracking or CRM tools, aligning project/retainer billing, and organizing reimbursable expenses. This improves margin accuracy, clarifies utilization rates, and creates a smoother monthly close for your Challenge leadership team.

Challenge is a hub for consulting firms, legal practices, and financial services firms.

Client Reviews

We support business owners across the country with reliable, remote bookkeeping. Here’s what a few of them say:

Client confidence improved with accurate reports.

Rachel B, Client Services Lead

WIP reporting accuracy improved by 45%.

Laura M, Project Controller

Forecasting improved with utilization metrics.

Thomas N, Financial Analyst

Trusted by thousands of businesses, see what our customers say.

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Frequently Asked Questions

Do you support consulting firms?

Yes, with utilization analysis and WIP reports.

Do you help with client trust accounting?

Yes, for law and consulting firms.

Do you offer virtual meetings for Challenge clients?

Yes, Zoom and Teams available for monthly reviews.

How soon can you start in Challenge?

Usually within 2–3 business days.

Are your bookkeepers local to Challenge?

Our team operates remotely but assigns a dedicated manager in your time zone.

Do you serve law firms?

Yes, including trust accounting and client billing.

Do you provide CPA-reviewed outputs?

Yes, ensuring compliance and audit readiness.

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Explore Our Enterprise Professional Services Accounting

Enhance your offering with our Enterprise Professional Services Accounting spine.

Challenge service firms often connect this model with AR Outsourcing for consistent billing, Controller/CFO Services for budgeting and staff utilization analysis, and Outsourced Accounting for daily operational support. Firms with multiple practice areas use Multi-Entity Consolidation, while those managing retainers or subscription-like contracts integrate ASC 606. Payroll Processing and Sales Tax Compliance also become essential as your Challenge firm scales.