Project billing rates

Project billing rates can be found in the Billing Rates tab of the Project card (Projects application).

The "Billing rates" tab is available only for Time & Materials projects.

Project rates are used to calculate the price of provided services. E.g., the billing rates can be combined using the roles of auditor of lawyer. The user is also able to add additional levels of competence: junior auditor, senior auditor.

The list of project billing rates

Billing rates can be chosen from the system classifier for the billing rates. If the client also has this billing rate, the initial rate is set equal to the current active rate of the client.

Parameters of the table:

• Billing rate — the name of the chose billing rate.
• Effective date — the date when the current billing rate is applied. This field will be empty if there is no change in the rate.
• Current rate — the rate effective at the given moment.
• Assigned to resources — the list of team members who have access to the billing rate. Project team role is selected by default, giving all the members of the team the possibility to use the billing rate.

When a team member is deleted from the billing rate, they won’t be able to select it In the future; however, all historical data (information provided earlier) will be unaffected.

Commands:

• Add rate — choosing and adding a new billing rate.
• Edit — open billing rate settings form.
• Delete — delete the current rate. It’s impossible to delete a rate if it has already been selected in a timesheet.

Billing rate setting

Parameters:

• Billing rate — the basic rate of the project.
• Initial rate — the rate, which is effective until further changes are applied.
• Assigned to resources — the list of team members allowed using the rate.
• Effective date — the date when new rate becomes effective. E.g. 09/01/2016 means that before the 1^st of September all calculations are made with the initial rate, and after the 1^st of September all calculations will be made using the new rate.

The user is able to edit rates at any time (having required access rights), including backdating. All calculations will be automatically updated.

Embedded rate — «Project rate»

Fixed bid and T&M projects are automatically added with «Project rate».