13 Reasons Timesheets Will Never Die

Ed Mendlowitz

Nor should they.

by Edward Mendlowitz, CPA
Partner, WithumSmith+Brown

Time sheets are an essential part of any professional services organization. Some people contend that they should not be maintained since they should not be the basis of any pricing – that fees should be solely based on the value to the client. I disagree.

Editor’s note: Timesheets, billing, cost accounting, value and pricing strike at the core of the accounting firm business model. For more on the topic, see:
14 Steps to Find the Right “Value Price,” by Bruce W. Marcus
You May Be Value-Billing but Don’t Know It, video with Terry Putney
Why the Next Boom Could be the Worst Thing that Ever Happens to Accountants, with Ron Baker