Calculate project costs out into the future with these hourly rates.

 

 

Project costing involves setting the salary and billing rates for each task and each employee who works on them.  But what happens when your projects extend into next year, or the year after.  Certainly, your salary rates will increase by then, and possibly your billing rates.  So those are future billing rates, or estimates of what your costs will be and what you'll charge your clients.

You can set billing and salary rates for each project, and each employee.  In other words Joe on Project A will bill out at a different rate than Joe on Project B.  But you can also set these rates for date ranges in the future, for instance next year and the year after.

Actually, billing rates can be set for any arbitrary date range.  Your date ranges do not need to correspond to yearly boundaries -- January to December.  They can span multiple years or portions of years.  You set the date range.  After creating a series of date ranges, you can then set all the project and employee rates for those date ranges.

You'll see the effect of future billing rates when you create project tasks, and when you log time.  Tasks scheduled for the future may invoke these special rates, thus allowing you to more accurately forecast your project costing on multi-year projects.  Logging time is the same way.  When you enter hours into the timesheet, the program first checks to see if the time log is in one of the date ranges.  If so, it applies the special rate.  But if not, it applies the default rate that is used for all other time logs.

Both time logs and project tasks have Client rate, Salary rate, Cost client, and Cost salary fields.  These fields are calculated based on the date of the record.  As we stated earlier, the program first checks to see if the record falls inside a billing date range and applies that rate first.  If not, it gets the default rate.

Also see: Video: Client Billing and Billing Rates, Video: Project Costing

 

Back to Videos

 

More videos on YouTube

 

 

 

 

 

 

 

    More videos to explore

  • Quick Questions (2 - 4 min)

    Answers to quick questions we have received regarding the employee timesheet, projects tracking, and PTO. See the product in action. Read More
  • Instructional (3 - 6 min)

    Screencast videos with deeper instruction for project management, employee timesheets, PTO, expenses, and client invoicing Read More
  • Short Intros (60 sec)

    Short intros to the basics of time tracking and project management techniques. Learn how employees use the timesheet. Read More
  • Animated (30 sec)

    Introduce and inspire use of the timesheet and project management techniques. You will learn what can be done and be tempted to try it. Read More
  • Interviews (2 - 3 min)

    Interviews about timesheets, project tracking, PTO, and management techniques. Get the general concepts of time and project tracking. Read More
  • Cartoons (60 sec)

    The lighter side of time tracking and project management, in cartoon format. Learn what the makers of Standard Time really think! Read More
  • Whiteboard (60 sec)

    Introductions to time tracking and project management. Get ideas, get inspired, try new things, and learn what your timesheet can do Read More
  • Old-Timey (60 sec)

    Tracking time and expenses in the modern world? See the most modern technique for time sheets and time management Read More
  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8

 

FREE TRIAL


Download a fully functional timesheet that will remain active for 30 days.
Company Name
Please enter your company name
Full Name
Please type your full name.
E-mail
Invalid email address.
Number of Employees
How many employees will use this?
Enter the text below
Enter the text below
Please enter the text above