TMetric Documentation

Billable Rates

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 Projects Summary and Team Summary reports to help you see project revenues and expenses.

Workspace default billable rate

The workspace default billable rate is 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 invoice method By project rate by default. You can override this rate within each specific project.

Setting up workspace default billable rate

1. Go to Workspace, then click Settings.

2. In the Currency field, select the currency, which will be the general default currency for all new projects. It can be overridden on a per-project basis.

3. In the Default billable rate field, enter the rate value. 

4. Click Save.

account default billable rate

Changing workspace default billable rate

Changes to the workspace default billable rate will apply only to new projects you create. That is, after you change the workspace default billable rate and start creating a project with the invoice method set to By project rate, the new default billable rate will be assigned to the project.

Who can see workspace default billable rate

Only the workspace owner and assigned admin can see and edit the workspace default billable rate.

Client default billable rate

You can set a default billable rate for a client. When you create a project for this client, this rate will be automatically inserted into the Project rate field. 

Setting up client default billable rate

1. Go to Workspace, select Clients, and click a required client. The Edit Client page will open.

2. Enter the corresponding value in the Default billable rate field and select a currency. 

3. Click Save.

Client default billable rate

Changing client default billable rate

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. 

Who can see client default billable rate

Only the workspace owner and assigned admin can see and edit the client default billable rate.

Member billable rate

A member billable rate is 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 invoice method By person rate by default. You can override these rates within a specific project.

Setting up member billable rate

1. Go to Workspace, select Members, and click a required member. The Edit Member page will open.

2. Enter the corresponding value in the Billable Rate field. 

3. Click Save.

Team member billable rate

Changing member billable rate

To edit a member billable rate, perform the steps of the previous paragraph. Changes to the member billable rate will apply only to new projects you create.

Who can see member billable rate

Only the workspace owner and assigned admin can see and edit billable rates of a member.

Project-specific billable rates  

Project-specific billable rates are hourly billable rates that exist within a specific project. These can be a project rate when the project invoice method is By project rate or billable rates of members involved in the project with the invoice method By person rate. The project-specific billable rates are first set when you create a project and can be changed later. 

Changing project-specific billable rates

If you want to change a member billable rate within a specific project (only for projects with invoice method By person rate):

  1. Go to Workspace and click Projects.
  2. Click a required project.
  3. Click the Team tab and specify the cost rate of a required member.

If you want to change a project billable rate within a specific project (only for projects with invoice method By project rate):

  1. Go to Workspace and click Projects.
  2. Click a required project.
  3. On the General tab, specify the billable rate in the Project rate field.

Note: If you change project-specific billable rates, the related historic data will also change.