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Simple solution. Leave public accounting and never look back.
Subject Expert
I’m on flex time
Ok
Mentor
So then how do we measure revenue/COS? How do we rank performance?
Come up with a good solution first, and then you can critique the current establishment
Subject Expert
EY2 - Yes, it doesn’t apply to all situations. You can still do hourly for your 4-6 month project, but in that case I would determine a monthly rate that should cover your fixed employee costs and a healthy margin that you and client can agree on since all they care about is the tax project/return being done and not hours unless they are being billed hourly.
As a tax manager or above, you should have a good idea of how complex something is and if you’re that concerned you can look at the actual project/return on a weekly basis to check the status. It’s the same issue if someone books 40 hours and actually works 20 hours. If you think your timesheets are accurate, I think you need to read what people actually do. They either under report or over report depending on the budget and what management has voluntold them to do. Also, with the knowledge gap due to lack of staff and tax law changes, we have staff/seniors that are not as knowledgeable so it’s not fair for a client to pay for longer hours on a project because they don’t know what they are doing. I’m theory timesheets should work because they worked in the past but they are not accurate anymore and there isn’t enough incentives for staff/seniors to make them accurate. If you don’t believe me, read up on it on Reddit or on here, where people are honest.