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
Sector challenges
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Activity overrun – over-servicing clients
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Low staff utilization
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Potential for poor staff planning
systems@work Benefits
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Can handle complex fee structures
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Can handle monthly, quarterly or annual fee schedules with planned fixed amounts
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Can handle the inclusion of differently priced ad-hoc work to planned fixed amount invoices
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Can combine (or separate) expense billing from time-based invoices
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Can report on profitability by client, period, activity, discipline, etc.
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Enables sophisticated invoice review and modification before commitment
