Consulting & Business Advisory Firms

Understand the Financial Performance of Every Engagement

Consulting and business advisory firms manage projects with different scopes, billing arrangements and delivery costs. A busy client portfolio can generate strong revenue while leaving important questions about project margins, retainer balances and consultant payments unanswered.

OBG Outsourcing provides bookkeeping and accounting support focused on project profitability, retainer tracking and consultant payments. We help consulting businesses and the accounting firms serving them maintain organized records and understand the financial results of their engagements.

Project Profitability Tracking

Understanding project profitability requires a clear connection between engagement revenue and the costs of delivering the work. Staff time, external consultants, travel and other project expenses can all affect margins.

We organize income and directly attributable costs by project using available invoices, approved timesheets and expense records. Project reports help your team compare fees with delivery costs and identify engagements requiring closer review.

Project Budgets and Cost Allocation

A project may remain within its overall budget while individual cost categories exceed expectations. Consistent cost tracking helps management identify these differences during delivery.

We prepare budget-versus-actual schedules and allocate staff or shared costs using your approved methods. Reports distinguish direct project costs from allocated overhead so your team can understand how project margins are calculated.

Retainer Billing and Collection Tracking

Recurring retainers need clear records of amounts invoiced, payments received and balances outstanding. Without consistent tracking, missed invoices or payment differences can be difficult to identify.

We maintain retainer billing schedules based on your approved client agreements, reconcile receipts and prepare outstanding balance reports. This helps your team monitor recurring collections and follow up on unpaid invoices.

Retainer Balances and Revenue Schedules

Retainer arrangements vary. Some cover ongoing services, while others provide advance funding for work delivered over time. Accounting records need to reflect the terms of each arrangement.

We track retainer receipts, amounts applied to invoices and remaining balances. Where required, we maintain deferred income schedules using your accountant-approved policies and supporting delivery records, helping distinguish cash collected from revenue recognized.

Consultant Invoice Review

External consultant costs need to be linked to the correct engagement and supported by appropriate records.

We match consultant invoices with available agreements, approved timesheets and project references. Missing documentation, duplicate entries and differences from approved amounts are flagged for your team’s review before payment schedules are finalized.

Consultant Payment Tracking

Clear payment schedules help your firm understand what is owed, when payments are due and which amounts have already been settled.

We prepare consultant payable schedules, record approved reimbursements and reconcile payments against invoices and bank transactions. Outstanding balances and payment differences are documented while your firm retains approval and payment release authority.

Engagement and Cash Flow Reporting

Project profitability and cash availability provide different views of business performance. A profitable engagement may still have outstanding client invoices while consultant payments are approaching their due dates.

We prepare reports bringing together project results, retainer collections, client receivables and consultant payables. These summaries help management review upcoming commitments and understand the timing of cash receipts and payments.

Month-End Accounting Support

Consistent monthly accounting helps keep project reports and financial statements aligned.

We reconcile bank and credit card accounts, review project coding and maintain supporting schedules for retainers and consultant balances. Outstanding queries are documented for your designated reviewer before monthly reporting is completed.

White-Label Support for Accounting Firms

OBG Outsourcing also works behind accounting firms serving consulting and business advisory clients. We support project accounting, retainer reconciliation, consultant payment records and management reporting while your firm retains the client relationship, review authority and final approval.

With clearer financial records, your team can focus on delivering client engagements and planning the firm’s growth.