TMetric allows you to assign billable rates to a workspace, a specific project, client, and workspace members. These are the external rates to invoice your clients.
TMetric uses billable rates to calculate billable amounts and costs reflected in Project Summary and Team Summary reports to help you see project revenues and expenses.
Hourly rates are used to track a billable amount and can be divided into three types:
- Project rate - the time is billed on an hourly basis according to the specified project rate.
- Person rate - the time is billed based on the rates defined for members of a project in the Team section.
- Work type rate - the time is billed based on the rates of the work types defined in the Work Types section of a project.
Default billable rates can be divided into four types:
- Workspace default billable rate - an hourly billable rate associated with a workspace. If you specify the workspace default billable rate in the workspace settings, it will be assigned to all new projects with the billing type Project rate by default. You can override this rate within each specific project. If you make changes to the workspace default billable rate will apply only to new projects you create. So, after you change the workspace default billable rate and start creating a project with the billing type set to Project rate, the new default billable rate will be assigned to the project.
- Client default billable rate - a rate set for a client. When you create a project for this client, this rate will be automatically inserted into the Project rate field. Changes to the client default billable rate will apply only to new projects you create. The data associated with the old client default billable rate will remain unchanged.
- Member billable rate - an hourly billable rate associated with a specific member of a workspace. Member billable rates are assigned to members of a new project with the billing type Person rate by default. You can override these rates within a specific project in the Team section only when the project is Active. For this, check Override team rates and set a rate value for a required member. If you uncheck this option, any changes of a billable rate on the Edit Member page will be displayed in the project.
Note: Only the workspace owner and assigned admin can see and edit billable rates.
Didn’t find what you were looking for?
If you didn't find what you were looking for, you can make a support request or email us to [email protected] We'll be glad to help you personally.