Do you want to spend the right amount of time on each project without exceeding the budget? Here is how to set an hourly rate.
You can set an hourly rate for your project when you create or edit a project.
Make sure to activate the toggle in the Billable box: this will automatically display the hourly rate box. Simply type the rate for the project and click “SAVE” to confirm.
Billable vs. non billable?
You should set a project as billable when you need to bill it regularly, and for this, you need to “reset” your billable hours count each time you bill your client. A project is “billable” when you invoice your client on an hourly-fee basis: activating this feature lets you differentiate between the time you have already billed and the time you still haven’t billed to the client.
For example, a consultancy job is a perfect candidate to be a “billable project” on Timeneye: you need to be able to “reset” the count of the hours you will need to bill each time you send an invoice to your client.
On the other hand, non-billable projects are projects that you work on for a fixed amount or internal projects. In this case, you need to get information about all the time spent on a particular project without needing to “reset” the count occasionally.
To know more about this topic, read our blog post: Billable vs. Non-billable hours: what they are and how to track them