Managing hourly rates and rates for projects

Billing types for projects

In TimeStatement, you can bill projects in different ways. These settings apply to a single project, which is useful, for example, if you use different hourly rates for different clients.

Tip: If you use the same hourly rate settings in many projects, we recommend defining them in the sample project and then using the sample project as a template for future projects.

When creating a project, you can choose the billing type from the following options:

• Not billable: If the project isn't invoiced, for example because it's an internal project.
• Project hourly rate: If a single hourly rate applies to the entire project, regardless of which employee works on it or which task in the project is performed.
• Task hourly rate: If different tasks have different hourly rates, you can define an hourly rate per task, regardless of which employee performs the task.
• Employee hourly rate: If billing varies by employee. For example, you can set one hourly rate for the secretary and another for the architect.

Setting hourly rates

Depending on the billing type you choose for a project, you set the hourly rate in a different place:

• If you choose Project hourly rate, you can set the hourly rate directly below it.

• If you choose Employee hourly rate, you can set each hourly rate on the project's "Members" tab.

• If you choose Task hourly rate, you can set each hourly rate on the project's "Tasks" tab.

Changing hourly rates

If you want to change a project's billing type or the hourly rate of a task, an employee or the project, you can decide whether the change should apply only to newly recorded activities or also retroactively from a specific date to activities that have already been recorded but not yet invoiced. Here's how it works:

1. Click the "Projects" tab.

2. Select the project.

3. Make your changes to the billing type and hourly rates.

4. Click "Save".

5. TimeStatement automatically opens the "Rate Change Settings" pop-up window with the question "When should the new hourly rate be applied?".

• Enable the "Valid from now" option if the new hourly rate should only apply to future entries, i.e., to newly recorded activities from now on.
• Disable the "Valid from now" option and select a date in the "Retroactive from" field if activities that have already been recorded but not yet invoiced should be updated with the new hourly rate from that date.

6. Click "Save".

Currency note: For simplicity, all prices in this article are given in euros (€). However, other currencies such as CHF and USD are also available in TimeStatement.