Consulting firms · GuardenerAI Invoices and accounting

Invoicing and accounting for consulting firms.

Consulting firms use GuardenerAI Invoices and accounting to invoice project fees and retainers from the same system that holds the client and the engagement, take card payments by Stripe link on the Max plan, and keep a double-entry ledger with financial reports once accounting is switched on.

A consultancy lives on its utilisation and its cash. Seeing what each client is worth on the pipeline, and what each one owes in AR, in the same system makes both easier to manage.

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From proposal value to invoice lines

Opportunities carry one-time lines for project fees and recurring lines for retainers, with MRR and ARR worked out. Use them as your reference when you raise each invoice.

  • Invoices are raised to the client company or person, not generated from the opportunity.
  • Line items for fees and expenses, rate-based tax lines and discounts.
  • Draft, In review and Issued, with Submit for Review and Approve and Issue in between.

Retainers without the spreadsheet

Recurring opportunity lines show the monthly value of every retainer on the pipeline.

  • Invoice each period from Invoices. Recurring invoices are not generated automatically.
  • Recurring journals and revenue recognition schedules in accounting help match revenue to the period it was earned.
  • AR aging shows which clients are slipping behind.

Cash in, faster

With accounting on and the Max plan, email a Stripe payment link for any issued invoice, and card payments post themselves.

  • Record ACH, wire or cheque payments by hand, and apply one payment across several invoices.
  • Credit notes correct a mistake without rewriting history.

Books that close

A double-entry ledger with automatic posting, and the reports a partner or accountant asks for.

  • Profit and Loss, Balance Sheet, Trial Balance, GL entries and Tax Summary.
  • Vendor bills and AP aging for subcontractors and expenses.
  • Bank reconciliation against entered statements, and fiscal periods you can close.

How to set it up

  1. Ask us to switch on accounting, and on the Max plan connect Stripe for card payments.
  2. Set up products for your common fees and tax products with their rates.
  3. Track proposals as opportunities with one-time and recurring lines.
  4. Raise invoices to the client each period, submit for review, then issue.
  5. Watch AR aging, and on the Max plan email payment links.

Worth knowing

  • Invoices are not created from opportunities, and there are no recurring client invoices or quotes.
  • There is no time-billing automation and no bank feed; statements are entered for reconciliation.
FAQ

Fair questions.

Can retainers bill themselves every month?
No. Recurring opportunity lines show retainer value, but each invoice is raised by you. There are no automatic recurring invoices.
Can we track subcontractor costs?
Yes, with accounting on: vendor bills, bill payments and AP aging sit in the same ledger.
Does it replace our accounting software?
For invoicing, payments, AR, AP, a double-entry ledger and the core reports, it can. There is no payroll or tax filing.