pricing, fees & billing rates

14 better uses for timesheet data

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woman reading paper document at office desk in front of computerif you just pay people and move on, you’re missing critical information.

by ed mendlowitz

question: i keep timesheets for billing purposes but am not clear how i can use them to better manage my practice. how can i do this?

more: tossing timesheets is just the start | how’s your overhead? | 9 must-haves for firm growth | collect more by clearing up billing | envision your future, then plan for it | 5 ways to build teamwork
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answer: analyzing time records is a very effective practice management tool and is an essential part of most professional services organizations. some people contend that timesheets should not be used because they should not be the basis of any pricing, with fees solely based on the value to the client.

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hate billing? use a different method

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businessmen standing on dollar billwhat services do your clients value the most?

by jody grunden
building the virtual cfo firm in the cloud

when i attend cpa conferences across the united states, i often hear from cpas: “i don’t want to bill for my time.”

more: protect client files from cyberthreats | boost efficiency with tech stacks | the only 3 metrics you need | how we sell audits online | 3 steps to better client communication in a crisis | four key financial metrics for growing any business | transferring clients to a new employee
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

so, how do you bill your clients?
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tossing timesheets is just the start

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pen ready to fill in blank timesheetrecommended: two books to read.

by ed mendlowitz

question: i’ve read that many firms are no longer using timesheets. how do you feel about that?

more: how’s your overhead? | 9 must-haves for firm growth | collect more by clearing up billing | envision your future, then plan for it | 5 ways to build teamwork
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

answer: there is a growing group of firms that no longer use timesheets.

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how’s your overhead?

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//m.g005e.com/2020/09/14/how-to-determine-overhead/plus a tip for increasing revenue if needed.

by ed mendlowitz

question: are there any rules of thumb for a cpa firm’s overhead and salary costs?

more: 9 must-haves for firm growth | collect more by clearing up billing | envision your future, then plan for it | 5 ways to build teamwork
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

answer: the rosenberg survey has excellent metrics and is highly recommended. on a less scientific basis you can use as a general rule of thumb 1/3 for salaries, 1/3 overhead, 1/3 partners salary.
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6 ways to increase your fees … if you dare

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hand moving triangle along beam to indicate balance between price and valuereverse value billing defined.

by ed mendlowitz
call me before you do anything: the art of accounting

working out how to set fees and using value pricing or value billing can sometimes be daunting.

more: creating a cross-selling culture | when time-based pricing works | how auditing is like a pirouette | ¿que es bookkeeping? | testifying before congress | underpaying others hurts you, too | my top 10 personal game changers | yes, christopher columbus had an accountant | 10 reasons for my success
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

we are in this business to make a living, so we have to become adept at pricing, billing and collections. one thing that vexes me is colleagues who tell me they never would value price or bill, and then they engage in what i refer to as “reverse value billing.”
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