{ "media_type": "text", "post_content": "Partners or whomever can help me understand about billing and hours. To keep things simple, let’s say you only have one staff to work 1,700 billable hours a year on a $60k salary and you have only one job that and the rate charged to the client is $300/hour and an projected hours budget of 1,700 hours. So ideally you would have revenue of $510k. If the staff takes less time partners make less money and if they take more time partners make more money while the staff keeps the same salary?", "post_id": "60e61da4a446c4002405c172", "reply_count": 3, "vote_count": 2, "bowl_id": "599b9d5f9970bf0010772e8d", "bowl_name": "Audit Bowl" }

Partners or whomever can help me understand about billing and hours. To keep things simple, let’s say you only have one staff to work 1,700 billable hours a year on a $60k salary and you have only one job that and the rate charged to the client is $300/hour and an projected hours budget of 1,700 hours. So ideally you would have revenue of $510k. If the staff takes less time partners make less money and if they take more time partners make more money while the staff keeps the same salary?

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You posted this in two bowls, but look at the responses in the accounting bowl. The process doesn’t work like that.

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Yes, who else will make the money? Management and partners have to answer as to why we went over budget though as the client will want to understand. This is why both sides have budgets. You don’t want to go over the project budget unless necessary. And being under the budget isn’t good for us because we plan and forecast revenue for our business using our own audit budgets. (I’m only a Senior FYI)

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It’s like no matter what the firm wants the hours to be around the projected amount of hours assuming nothing done was out of scope. This creates the desire to manipulate hours by eating hours if “over budget” or even charging every minute if you might be under budget. It’s a game to get to the “projected” budget.

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