A “Project billing method” is a way in which your project costs will be calculated and invoiced to your clients.
You can choose or change a project billing method on the “Update Project” page.
Very important: You will not be able to change the project billing method after the creating an invoice based on this project’s expenses (more details here).
There are four types of billing methods:
* Hourly task rate – amount of logged hours multiplied by task rates
* Hourly staff rate – amount of logged hours multiplied by staff rates
* Hourly project rate – amount of logged hours multiplied by project rate
* Flat project amount – the fixed cost of a project, which doesn’t depend on the number of hours logged.
The Hourly task rate
Choose this method and you will see your tasks rates in the tasks list as it follows:
By default, it’s the task price which is taken from the Update Task pages (Sales -> Products List -> My Tasks -> “Price” field on the Update Task page).
However, you can manually edit it here – just enter a new rate instead of the default one. This project’s price will be calculated as logged hours (by project members) multiplied by related tasks rates. To learn more about “How to invoice the project”, click here.
Hourly staff rate
When you choose this method, you will see your project members’ rates in the members list:
By default, it’s a rate taken from the “Edit Staff” pages (Contacts -> Staff -> “Rate” field on the “Edit Staff member” page), but you’re free to manually edit it at any time – just enter a new staff rate instead of the default one.
This project’s price will be calculated as logged hours (by project members) multiplied by related members’ rates. Read here more about “How to invoice the project”.
Hourly project rate
This method will allow you to enter one rate for each of the hours logged to this project:
A project’s total price will be calculated as a sum of logged hours (for this specific project) multiplied by project’s rate.
Flat Project Amount
When choosing this method, you can enter the final price for a project.
In other words, your project’s price no longer depends on the amount of logged hours or on any rates.
You just have the final project price agreed with your client, which will be invoiced to them.