Project Billing Models


Timebeans offers three (3) different billing models for projects. You can choose a billing model when you are creating a new project and can also change it later during project execution.

Using Project Rate

You can choose to use the hourly rates specified on the project level to calculate the dollar value of the time reported on the project. When a project is setup using this option, the hourly rates specified on the employee level or task level (if any) are ignored and the dollar value is calculated using the project rates regardless of who worked on the task and which task was worked on.

Using Employee Rate

You can choose to use the hourly rates specified for individual employees to calculate the dollar value of the time reported on the project. When a project is setup using this option the dollar value is calculated based on the employee rates.

Using Task Rate

You can choose to use the hourly rates specified for individual tasks to calculate the dollar value of the time reported on the project. When a project is setup using this option the dollar value is calculated based on the individual task rates.

Historical Rates

Timebeans understands that the only thing consistent in the project world is "change". It is likely that as a project progresses the hourly rates of employees, projects or tasks may change. Timebeans provides a standard way of handling such changes. As you revise the hourly rate of a an employee, task or project - Timebeans do not remove the old rate rather it keeps a time-based historical record of all rates defined overtime. If the "Use historical rates" option is enabled on the project Timebeans will use the old rate which was applicable at the time when the hours were reported in the project. For all newly reported time Timebeans will always use the latest rates. This option is on bydefault.

If you do not want to use this functionality please turn off the "Use historical rates" option and Timebeans will start using the latest rates for all reported hours even though there was a different rate applicable in the past when the hours was reported.

To clarify this concept further please consider this example. John is working on a project which is setup to use the employee level rates for billing. John started working on the project in January with an hourly rate of $75 and completed a task (say Task-A) of 50 hours. In February his hourly rates were bumped to $80 per hour and he completed another task (say Task-B) of 30 hours. Now when the project will be billed Timebeans will use $75 hourly rate to calculate the dollar value of 50 hours of Task-A and $80 hourly rate to calculate the dollar value of 30 hours of Task-B. If you disable the "Use historical rates" option then Timebeans will always use the latest hourly rates ($80 in this case) to calculate the dollar value of both Task-A and Task-B.