Accounting & Auditing

Sector characteristics

Often Multidisciplinary: Auditing, Accounting, Payroll, Tax Advice, Due Diligence, Business Consulting

Less project-oriented than client-oriented, since work repeats monthly or annually

Complex fees, differing from client to client

Invoices may be a mix of fixed-price and ad-hoc work, each to be priced appropriately and each line item to be reviewed before invoiced

Invoices may also include ‘piece work’, as for volume-based payroll services

Need to capture and recharge out-of-pocket expenses

Need to monitor profitability by client, especially where work is fixed-price

Activity overrun – over-servicing clients

Potential for poor staff planning

Low staff utilization

Can handle complex fee structures

Can handle the inclusion of differently priced ad-hoc work to planned fixed amount invoices

Can report on profitability by client, period, activity, discipline, etc.

Can handle monthly, quarterly or annual fee schedules with planned fixed amounts

Can combine (or separate) expense billing from time-based invoices

Enables sophisticated invoice review and modification before commitment