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Accounting for professional services

Whether you're a consultancy, design studio, law firm, marketing agency, or independent contractor, professional services businesses share a common reality: your time is the product. Getting your accounting set up to reflect that — clearly and accurately — is the difference between a business that knows what's profitable and one that's guessing.

We work with consultants, agencies, and professional firms across NZ — so we know how to set up your numbers around how the work actually flows.

Key accounting considerations

  • Time tracking and WIP (work in progress) — getting unbilled time onto the balance sheet so revenue isn't recognised too late
  • Project profitability — clean integration between your time-tracking tool (Harvest, Toggl, WorkflowMax) and Xero so reporting actually works
  • GST treatment for international clients — when zero-rating applies and what records you need to keep
  • Contractor vs employee structuring — getting it right from the start saves headaches with IRD later

Whether you're a consultancy, design studio, law firm, marketing agency, or independent contractor, professional services businesses share a common reality: your time is the product. Getting your accounting set up to reflect that — clearly and accurately — is the difference between a business that knows what's profitable and one that's guessing.​

Key accounting considerations

We work with consultants, agencies, and professional firms across NZ — so we know how to set up your numbers around how the work actually flows.

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GST faqs

Frequently asked questions

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Up-to-date bookkeeping is fundamental for gaining a clear picture of how your business is performing. This is important for you as a business owner, as well as any other stakeholders or investors. Accurate records are also essential to be able to make the best decisions for your business, including identifying opportunities to improve cash flow or cut costs. Bookkeeping is also essential to stay compliant with the IRD, avoiding fines or penalties.
Our hourly bookkeeping rate is $75. We estimate your monthly bookkeeping needs and quote for this upfront so you know what you’re going to be paying each month. We keep this under review and may need to adjust as the business grows or if your finances significantly change. In order to provide you with a quote, we will need to understand more about your business. Some of the things we'll need to know are how many transactions you have each month, how many business bank accounts and credit cards you have, whether you run a payroll, and if adjustments are needed for accrued or deferred income or expenditure.​
Cloud-based software like Xero and MYOB means you, your bookkeeper, and accountant all see the same live data from anywhere at any time. They're IRD-compliant, well-integrated with other apps, and built for modern business.
Yes. Bookkeeping is an add-on for existing Beany accounting clients. Not on board yet? Start with our accounting packages and we'll set up bookkeeping as part of your onboarding.

Our services

Annual accounts and tax returns

Annual accounts and tax returns

End-of-year financial statements, income tax returns and filing with the IRD. Everything that keeps your business compliant.

Management Reporting

Management Reporting

Numbers you can actually use. Get a clear picture of how your business is performing and insights to help you make decisions faster.

Budgets and Forecasts

Budgets and Forecasts

Plan ahead with confidence so you always know where your business is heading and without running out of cash mid-quarter.

Bookkeeping

Bookkeeping

Keep your books tidy and up-to-date. We take care of the number crunching so nothing slips through the cracks.

Payroll

Payroll

Pay your team correctly every time. We manage pay runs, tax obligations, and reporting to ensure staff are paid correctly.

Business Advisory

Business Advisory

Sometimes you just need someone in your corner, whether you're expanding, taking on a business partner or planning an exit.

Ready to see what your numbers could be telling you?

Book a free discovery call to discuss how we can help.