Illinois · Professional Services Accounting

Illinois professional-services accounting that shows which work pays.

Illinois consultancies, agencies, and law firms run on billable time, matters, and — for firms — client trust accounts. Your books are prepared by a senior bookkeeper who works in your software, or by a signed specialist practice when your books need one: matter and project profitability, partner draws, and the entity-level PPRT and PTE figures, all 102 counties; for Illinois law firms, the IOLTA trust ledgers and reconciliations are kept by TechBrot’s signed trust-accounting specialist practice. Nobody on the engagement ever holds or disburses client trust funds, and your CPA files.

If your file needs our paid diagnostic first, its fee is credited in full against the cleanup. Either way, you get a fixed fee in writing before any work starts.

Bookkeeping & advisory · Records only · never holds funds

Or send the details instead

By TechBrot · Published · Updated

Illinois, 102 counties, with the cities that have their own TechBrot page markedChicagoRockfordSpringfieldPeoriaChicagoSpringfieldPeoria
State rule

Illinois rule: for taxable years ending on or after December 31, 2021, a partnership or S corporation may elect each year to pay a 4.95% tax on its net income while the federal SALT limit applies; QuickBooks keeps PTE payments apart from draws. Source: 35 ILCS 5/201(p).

Illinois · Professional Services AccountingNavigation, not an office
§ The short version

Illinois professional-services accounting from TechBrot shows which matters, projects and partners make money: utilization, realization and WIP by matter, partner draws kept apart from PTE payments, and the PPRT at 1.5% for pass-throughs. For law firms, IOLTA ledgers and three-way reconciliations are kept by TechBrot’s signed trust-accounting specialist practice; no one on the engagement holds client funds.

They took something that felt overwhelming to me as a first-year business owner and made it simple.
Food & Beverage client · Read the review on Clutch
What stood out the most was TechBrot Inc’s attention to detail.
Business services client · Read the review on Clutch
Intuit QuickBooks Certification Level 2 badge (exam-based, issued by Intuit)QuickBooks Workforce Certification badge (exam-based, issued by Intuit)
Intuit QuickBooks Certification Level 2 and QuickBooks Workforce Certification,held by TechBrot’s senior reviewer (verification on request) · TechBrot, Inc. · Delaware corporation · est. 2023
§ 01 · Why Illinois professional-services books break

Three places Illinois firms lose the numbers.

Utilization, trust records, and partner draws are where it goes wrong. Knowing which one you’re in tells us where to start.

01Utilization

Work that doesn’t actually pay

Without matter/project-level tracking, a firm sees revenue but not realization, utilization, or which engagements and clients make money — and the unprofitable fixed-fee work hides in the blended number.
02Trust records

Trust accounts that don’t three-way reconcile

IOLTA rules require accurate trust records and three-way reconciliation — sloppy records are a compliance risk, even though the funds stay in the firm’s hands and its bank, never ours.
03Partner draws

Partner draws & owner-comp figures

Partner draws, guaranteed payments, and owner compensation in S-corps, partnerships, and PLLCs get tangled — and untangling them is what makes both distributions and the entity-level tax accurate.
§ 02 · What TechBrot handles

How we keep an Illinois firm’s books.

Every engagement is scoped to your matters and partners, delivered in your own QuickBooks file by your TechBrot team.

01

Matter & project profitability

Time, costs, and billing tied to each matter or project — utilization, realization, and WIP — so real per-engagement and per-client profit is visible.

QuickBooks accountant
02

IOLTA trust-record keeping

Client ledgers, the deposit and disbursement record, and the three-way reconciliation Illinois Rule 1.15A records call for, prepared for Illinois law firms by TechBrot’s signed trust-accounting specialist practice — records only; nobody on the engagement holds or disburses the funds.

Bookkeeping services
03

Partner-draw & owner comp

Partner draws, guaranteed payments, and owner compensation in S-corps, partnerships, and PLLCs tracked cleanly so distributions and equity are clear.

Monthly bookkeeping
04

PPRT & PTE figures

Illinois net income tracked for the entity-level PPRT, PTE payments kept in their own entity-tax account apart from owner draws, and the books structured so your CPA can model and support the PTE election each year.

Replacement tax help
05

Fixed-fee vs hourly WIP

Work-in-progress and unbilled time tracked across fixed-fee and hourly engagements so revenue recognition and realization are accurate.

Monthly bookkeeping
06

Firm & partner reporting

Reporting that shows firm profit and per-partner economics — CPA-ready and decision-ready.

Financial statements
§ 03 · Tools we work alongside

Connected to how you bill.

  • Clio, PracticePanther, and legal practice-management
  • Harvest, Toggl, and time-tracking tools
  • QuickBooks Online or hosted Desktop — your file
  • Gusto, ADP, and payroll providers
  • Bill.com for vendor AP
  • LawPay and professional payment processors

We reconcile alongside the practice-management and time-tracking tools you already run — the books read from how you bill. We never take custody of client trust funds.

§ 04 · How engagements work

From blended revenue to matter-level profit.

Every Illinois professional-services engagement follows the same rhythm — books accurate first, profitability visibility second, advisory third.

  1. Step 1

    Free firm & trust review

    A QuickBooks ProAdvisor reviews your matter/project tracking, trust records, and partner setup — at no cost.
  2. Step 2

    Written fixed-fee scope

    A written scope and fixed fee within 3 business days — setup, cleanup, or monthly.
  3. Step 3

    Build profitability & reconcile trust

    Matter/project tracking set up, trust records three-way reconciled, partner draws and owner-comp figures cleaned.
  4. Step 4

    Monthly matter-profit close

    A monthly close showing matter-level profit and partner economics, CPA-ready — with trust records reconciled.
§ 05 · Beyond the books

Matter-level profit is the start. Partner returns are the point.

When matter profitability is real and trust records reconcile, the decisions get real: which clients and service lines to grow, how to set partner comp, whether to add a practice area, where utilization and realization are leaking margin — answered from numbers that tie.

That’s where fractional-CFO advisory picks up, on cleaned-up books, in coordination with your CPA, including PPRT/PTE planning.

Get the free file review

§ 07 · Around this page

Around Illinois.

Not sure where your file stands? Start with the free QuickBooks file review · how Illinois compares: state-by-state tax quirks.

§ 08 · FAQ

Illinois professional-services accounting questions.

What does Illinois professional-services accounting include?

Matter and project profitability tracking (utilization, realization, WIP, fixed-fee vs hourly), IOLTA trust-account record-keeping and three-way reconciliation for law firms, partner-draw and owner-compensation tracking, and clean PPRT and PTE figures — in your own QuickBooks file across all 102 counties. Nobody on the engagement ever holds client trust funds, and your CPA files.

Do you hold client or trust funds?

No — this is a firm boundary, records only. On TechBrot’s engagements, the trust ledgers and the three-way reconciliation (bank statement, client ledgers, and accounting records compared and agreed, as the ARDC’s self-audit under Illinois Rule 1.15A asks) are prepared by TechBrot’s signed trust-accounting specialist practice as a bookkeeping service, so your trust records are current when the ARDC or a client asks for them; Illinois expects those records kept for at least seven years after the representation ends. A Certified QuickBooks ProAdvisor reviews every close before it reaches you. Trust (IOLTA) reconciliations are also checked by the signed trust specialist. But neither TechBrot nor the practice ever takes custody of, holds, controls, or disburses client or trust funds — those stay in the firm’s trust account under the firm’s control and its bank. The IOLTA program for Illinois lawyers is administered by the Lawyers Trust Fund of Illinois; the custody and ethics compliance stay with the firm, and the lawyer stays responsible to the ARDC.

How do you track matter and project profitability?

We tie time, costs, and billing to each matter or project — tracking billable utilization, realization rates, and work in progress, and separating fixed-fee engagements from hourly ones — so you see real profitability per engagement and per client, rather than a blended firm-wide number. That surfaces which work, clients, and service lines actually make money and which quietly run at a loss, pulling from your practice-management and time-tracking tools.

How is an Illinois law firm or consultancy taxed?

Illinois has a flat 4.95% personal income tax. Even pass-throughs owe the entity-level Personal Property Replacement Tax (PPRT) — 1.5% on S-corps and partnerships, 2.5% on C-corps — which surprises owners new to the state. A partnership or S corporation can also make the Pass-Through Entity (PTE) election, separately for each taxable year, to pay a 4.95% entity-level tax as a federal SALT-cap workaround, with each partner or shareholder allowed a credit for their share; the statute (35 ILCS 5/201(p), as amended by SB 1911, Public Act 104-0453, effective December 12, 2025) sets no end year while the federal limit on individual state-and-local-tax deductions applies. The entity election and PTE decision determine the picture, so your CPA confirms how it applies. We keep the revenue and expense figures clean so the computation is straightforward; your CPA computes, elects, and files.

How do you handle partner draws and owner compensation?

We track partner draws, guaranteed payments, and owner compensation across S-corps, partnerships, and PLLCs cleanly and distinctly, so distributions, capital accounts, equity, and the figures behind the PPRT and PTE are all clear. That keeps both the partners’ economics and the entity-level tax accurate, instead of tangled in a single owner-equity catch-all.

Do you work in my own QuickBooks file?

Yes — your file, your data, in QuickBooks Online or hosted Desktop, with a senior bookkeeper assigned to your file, and every close reviewed by a Certified QuickBooks ProAdvisor before it reaches you, connected to your practice-management and time-tracking tools rather than proprietary software, across all 102 Illinois counties.

Illinois professional-services firms start here

See which clients, matters, and partners actually pay.

Or send the details insteadWe reply within one business day. Written fixed-fee scope within 3 business days of your call. No hourly billing.
What happens after you call
  1. 01We talk for up to 30 minutes.You tell us where the books stand; we ask the questions that decide the scope. No charge.
  2. 02We look at the file if we need to.You add us as an accountant user in your own QuickBooks file, and you can remove us at any time. If the file cannot be priced without working inside it, we say so and propose the paid diagnostic, whose fee is credited in full against the cleanup.
  3. 03You get a fixed fee in writing.What we will fix, what you will receive and one fixed fee. Nothing starts until you accept it.
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