There are many different options to set hourly rates for billing purposes in My Hours. You can choose a different method for each project.
If you select this option, the billable amount will not be calculated from your time logs.
BILLABLE: PROJECT RATE
Choose this option if all tracked time on your project will be billed at the same hourly rate. Every hour tracked on this project will then be billed by the rate you enter here:
If you want to change the rate for time logs that were already entered, make sure to apply the changes to new & past logs. If you select 'New logs only’, the new rates will only be applied to future time logs.
BILLABLE: TASK-BASED RATE
If you bill time spent on different tasks at different rates, choose a task-based rate. You will then need to enter the hourly rate for each individual task when adding them to your project, like this:
In case that the task rate changes, when saving the new rate you will be able to update it for new logs only, or for past logs as well (select 'new & past logs' or 'logs created after selected date').
BILLABLE: MEMBER-BASED RATE
By selecting a member-based rate, the billable amounts will be calculated from the hourly rates of each team member that is tracking time. You need to set the hourly rate on their profile in the Team members section:
The hourly rate that you input here, is used as a default billable rate on the new member-based billable projects.
**Please note: You need to select the option to ‘Update team member "Billable rate" on all projects with this team member assigned’, for the billable rate on existing projects to update as well:
If you need to change the members’ rate only for a specific project, this can be done if you go to the Project members page on the project overview:
Simple hourly rate for solo users
In case you need a simple hourly rate for yourself, select Member-based rate, and enter your hourly rate in the Team members section (explained above).
Projects with flat/fixed fee
To be able to invoice a fixed fee for a project, please select ‘Project rate’ as a billable method and set the rate at $0.00 per hour. Then you can add the fixed fee amount as the expense to just one of the recorded time logs in the invoicing period. This way you will be able to invoice the flat amount to your client.
Tasks with flat/fixed fee
If you bill some tasks at an hourly rate and others with a fixed fee, please choose a Task-based rate. Set the hourly rate for the flat fee tasks at $0.00. Then add the fixed fee amount as the expense to just one of the recorded time logs in the invoicing period.