Glossary terms starting with H

Hard Close

A hard close is the complete, finalized month-end close with all reconciliations performed, adjusting entries recorded, and financial statements prepared and approved.

Hard Cost

A hard cost is an out-of-pocket expense you pay to third parties on behalf of a client.

Headcount Budget

A headcount budget plans the number and timing of employees and contractors for a budget period, aligning staffing levels with projected workload and revenue.

Health Insurance Deduction

The health insurance deduction describes how health insurance premiums are treated for tax purposes.

Home Office Deduction

The home office deduction allows eligible taxpayers to deduct expenses for the business use of part of their home.

Hour Capacity Model

An hour capacity model calculates the total available billable hours from the workforce based on headcount, work hours, and expected non-billable time, providing a foundation for revenue planning and resource decisions.

Hybrid Billing Model

A hybrid billing model combines fixed fees and hourly billing within one engagement.