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I have heard a lot of people that spread the time in a week. For instance you had 10 billable hours on Monday and 6 billable on Tuesday. They just move 2 hours from Monday to Tuesday so they keep utilization up. Haven’t heard about people that slow down though lol.
The denominator is still 8 hours a workday. Admin time entered is irrelevant.
Coach
If you got a good large client and budget for that week is 40 and you worked hard and efficiently and finished in 30 you put down 40
I definitely recommend what Crowe 1 is suggesting. It might not be the right thing to do but we are forced to play this utilization game, which rewards more time charged. If we weren’t held to such high requirements, then we could have the luxury of deciding what’s right or wrong
Lots to unpack here…
First, a client doesn’t get charged less if we complete the project under budget. Most engagements have a set price and we’re going to bill the client that amount regardless of the WIP. So if we agree on 20k for the tax return, the client is getting charged 20k regardless of where our WIP ends up.
That leads to the second part, what to do when you’re efficient. Bill your actual time, always. If it takes you 30 hours for a 40 hour project during a week, 30 hours goes on your time sheet. Yeah, you pick up “extra” work to fill those 10 hours but it’s not extra. You gotta work 40 hours either way in a week.
If you put your actual time you become known as an efficient preparer / reviewer that everyone wants to work with because the projects you work on will have higher realization. You see more, you learn more, and you’ll get better comp adjustments.
If you spread your time out as some have suggested doing then yes, you’ll have an easier workload. But you’ll be seen as another average preparer, hide how good you are, average comp adjustments, etc…
If you’re there for just a job, spread it and take the easy route. If you’re there for a career, bill your actual time.
Mentor
Thanks D1. Very interesting.
I grew up in the Chicago burbs myself. Based on that description, it makes me think you work in the woodfield area 😂. (At least I think I’ve seen mid tier offices there).
Unfortunately the reward for efficiency is more work. Bill what you work and if you need more work ask for it.
Subject Expert
This is the problem and dilemma with billable hours. What incentive do you have to get things done faster or more efficiently? I don’t understand this unless you’re the partner since our salaries are fixed but billable hours is potentially unlimited. Technology is going to allow us to do things faster and more efficiently and we are still going to be charging the client the same if not more. Billable hours will be on its way out and value pricing will eventually kick in if it hasn’t already for firms.
You bill what you actually worked. Putting down time that you didn’t work is unethical and considered stealing time. I do think it’s natural that outside of busy we slow down a bit as we’re not trying to push out as many daily or weekly deliverables.
Its a game. If you are true to your hours and are efficient, you get the gift of more clients. (Especially if youre good)
I learned that if i bill what was scheduled on my time, people will leave you alone in terms on trying to add you to new clients/projects. Then you can seem like more of a herp when you can assist in other people clients when you "have time".
Hero*