I love the fact that we don’t have to keep track of every minute of every day (one of the biggest problems with time sheets) because it frees up time to take care of the little (or not so little) things – like reading the latest tax updates (something that is not so little for me or our clients, but a necessity that has always eaten into my “billable hours”) and sharing information with clients and other people I know who may be interested (a “little” thing to me, that I thought about doing before, but never found the time when I was conscious of where all my “billable hours” were spent). Read more…

The keystone of practice management for the accounting profession and most law firms has long been the billable hour. We rely on hours accumulated on time sheets in six minute increments to drive most every aspect of our practices Read more…

In the December 17, 2007 issue of Accounting Today, Gary Boomer asked three questions in his article titled Pricing and Partner Compensation. (1)Does your firm have a documented strategic plan; (2) Does our partner compensation system integrate with the strategic plan, and; (3) Am I still pricing by the hour?

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