Yes, it does it correctly for tax purposes everywhere and can be used in a way which conforms with how these companies want to do their accountings for shareholders reporting. Also it used by so many companies that every niche thing you want to do has probably already been done.

The people here complaining about the UX for reporting their hours just have no idea of the mind boggling complexity of the problem space. There is a reason everyone use SAP and it’s not because it’s bad.