Professional service firms will often use a billing system that is based on chargeout rates per billable hour.

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Professional service firms, such as law firms, accounting firms, and consulting firms, commonly use billing systems that charge clients based on the number of hours worked by each staff member on specific tasks. These hours are typically billed at predetermined chargeout rates per hour, which vary based on the employee's seniority, expertise, and other factors.

Professional Service Firms Will Often Use a Billing System That