How to set billing rates for invoicing clients.

 

There are three project billing models that let you choose how each project will calculate client billing rates.  These are: Employee Billing Rates, Category Billing Rates, and Project Billing Rates.

 

1. Employee Billing Rates: In this model, each employee who works on the project can have a different rate.   When they log time in the timesheet, the program multiplies the hours times  their billing rate.  They can have a different rate for every project, or  you can revert back to their default rate if the project should not be  overridden.  Choose Tools, Users and Organization to view a list of  employees.  Choose Tools, Billing Rates, Employee Billing Rates to see and override their client billing rates.

 

2. Category Billing Rates: In this model, the project would bill using rates inside the categories rather than the employee.  It doesn't matter who worked on the project; instead, it matters which category was used when logging the time because the category  billing rate is used.  Choose Tools, Categories to view a list.

 

3. Project Billing Rates: This is the simplest billing model.  Here, you would charge a single rate for all the work on the project, regardless of who did it, or what type of work  was performed because here the project billing rate is used.  Choose Tools,  Projects to set the rates.

 

Each time log computes it own billing rate, based on the model selected for each  project (see above).  The default model is Employee Billing Rates.  When you enter hours into the timesheet, the program will use these rates above  to get the Cost Client value.  This is the value you see on client  invoices.  (See View, Columns to show the Client rate and Cost Client  fields in the Time Log.)  Every time log could have a different billing  rate, depending upon the project it is assigned to, the employee who logged the  time, or the category assigned to it.

The video doesn't mention this, but only time logs that are marked as billable  (and not billed) will be updated when you change the billing rates.  The program never updates time logs that have already been marked as billed.   This allows you to see the old billing rate that was in use at the time the  record was billed.  See Tools, Columns to show the Billed and Billable columns in the Time Log.

Also see: Video: Project Costing, Video: Future Billing Rates - Yearly Forecasts, Video: Overtime and Regular Time

 

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