✔️ Available (with limits) on all
subscriptions 1
See "Feature access" below for
more information.
| What | User rates are
either cost or billable hourly
rates. Cost
rate:
The hourly cost, to
your
company, to employ
someone. Billable
rate: An individual's
hourly rate. This is what you
charge for someone's time on a
project. |
| Why |
|
| Who | Can view and manage
rates:
Rates can
be set
for:
|
| When | You need to:
|
| What | User rates are
either cost or billable hourly
rates. Cost
rate:
The hourly cost, to
your
company, to employ
someone. Billable
rate: An individual's
hourly rate. This is what you
charge for someone's time on a
project. |
| Why |
|
| Who | Can view and manage
rates:
Rates can
be set
for:
|
| When | You need to:
|
Feature access
| Free
Forever (& other legacy plans) | Starter | Deliver (& Pro) | Grow (&
Premium) | Scale (& Enterprise) | |
|---|---|---|---|---|---|
| Set and manage user rates | ✔ | ✔ | ✔ | ✔ | ✔ |
| User rates management view per
project | ✗ | ✔ | ✔ | ✔ | ✔ |
| View user rates history | ✗ | ✔ | ✔ | ✔ | ✔ |
| Bulk edit user rates | ✗ | ✔ | ✔ | ✔ | ✔ |
| Change project rates
retroactively | ✗ | ✗ | ✗ | ✔ | ✔ |
Scroll
horizontally for more
information:
| Free
Forever (& other legacy plans) | Starter | Deliver (& Pro) | Grow (&
Premium) | Scale (& Enterprise) | |
|---|---|---|---|---|---|
| Set and manage user rates | ✔ | ✔ | ✔ | ✔ | ✔ |
| User rates management view per
project | ✗ | ✔ | ✔ | ✔ | ✔ |
| View user rates history | ✗ | ✔ | ✔ | ✔ | ✔ |
| Bulk edit user rates | ✗ | ✔ | ✔ | ✔ | ✔ |
| Change project rates
retroactively | ✗ | ✗ | ✗ | ✔ | ✔ |
Before
you
start
- Cost rates can only be set
at site level.
- Billable
rates can be set at
site and/or project
level.
- Site-level billable rates are
the
default rate used when a
user
logs billable time on a
project.
- If a
site-level billable rate
is set
after a
user is added to a project,
the rate
will not be inherited for that
project.
- Project-level billable rates
apply
only to that project and
override a
user’s site-level rate (if one
is
set).
Currency
Currency is set at
site level and is applied to
all user billable and cost
rates. Changing the site-wide currency updates
all existing
user rates, but doesn’t impact
completed
invoices.
🔑
Site currency can only be managed by owner
company site administrators.
Permissions
Permission levels
dictate
the
actions a user
can take relating to user
rates.
| Project
permissions | Site
permissions | ||||
|---|---|---|---|---|---|
| Action | "View rates"
permission | "Edit rates"
permission | "Project
admin" permission | External
company admin | Owner
company admin |
| View project hourly rates | ✔ | ✔ | ✔ | ✔ | ✔ |
| Edit project hourly rates | ✗ | ✔ | ✔ | ✔ | ✔ |
| View project profitability | ✗ | ✗ | ✗ | ✗ | ✔ |
| View site wide billable
rates | ✗ | ✗ | ✗ | ✗ | ✔ |
| Manage site wide billable
rates | ✗ | ✗ | ✗ | ✗ | ✔ |
| View site wide cost rates | ✗ | ✗ | ✗ | ✗ | ✔ |
| Manage site wide billable
rates | ✗ | ✗ | ✗ | ✗ | ✔ |
Scroll
horizontally for more
information:
| Project
permissions | Site
permissions | ||||
|---|---|---|---|---|---|
| Action | "View rates"
permission | "Edit rates"
permission | "Project
admin" permission | External
company admin | Owner
company admin |
| View project hourly rates | ✔ | ✔ | ✔ | ✔ | ✔ |
| Edit project hourly rates | ✗ | ✔ | ✔ | ✔ | ✔ |
| View project profitability | ✗ | ✗ | ✗ | ✗ | ✔ |
| View site wide billable
rates | ✗ | ✗ | ✗ | ✗ | ✔ |
| Manage site wide billable
rates | ✗ | ✗ | ✗ | ✗ | ✔ |
| View site wide cost rates | ✗ | ✗ | ✗ | ✗ | ✔ |
| Manage site wide billable
rates | ✗ | ✗ | ✗ | ✗ | ✔ |
User
rate changes
When you change a user’s
existing rate, the
updated rate applies to the entire day.
For
example:
- A user's
billable rate is changed at
11:30AM on April 6th.
- The new rate
applies to billable time
logged by the user starting from the
previous midnight, i.e. the entirety of
April 6th.
- All billable
time the user logs on April
6th, and going forward, uses the new rate
(until it’s changed).
Once a user’s rate is updated,
Teamwork.com uses that rate to calculate
invoice fees related to their billable
time.
Set
or edit
site-wide cost and billable
rates
Update user rates via
the Cost rate or Billable rate columns in
the
site-level People area.
- Click People from the
Teamwork.com navigation.
- Use quick search (or scroll) to locate
a user.
- Click into the Billable or Cost rate field.
- Enter a new rate or update the current
one.
- Press Update Rate.
The user now has a (new)
default
billable or cost rate.
Another
option...
Customize
a new or
existing user’s site-level hourly
rate
from the Essentials tab in the
user
details modal.
- Click People from the
Teamwork.com navigation.
- Use quick search or scroll to locate a
user.
- Click the ellipsis (...) at the
end of the user’s row.
- Click Edit Profile.
- Click the Essentials tab, then
navigate to the Hourly rates subsection.
- Enter the per hour Billable or Cost rate in the corresponding
column.
- Click Update.
The user
now has a default billable
and/or cost rate
set.
Bulk edit site-wide
billable
rates
You
can set the same billable rate for
multiple people at the same time. Have
we
mentioned we’re all about saving
time?
- Click People from the Teamwork.com
navigation.
- Bulk select users:
- Select all users: Click the checkbox
to the left of the Name column.
- Manually select multiple users: Click
the checkbox to the left of each
user's name.
- Click the $ icon.
- Enter a rate into the billable rate
field.
- Click Update.
The rate is
now the site-wide billable
rate for each selected
user.
Set
or edit project
billable
rates
Set billable rates for
individual projects on your site. When
set, these override the default site-level
billable rate (but just for this
particular project).
- Click Projects from the
Teamwork.com navigation.
- Search for and select a project.
- Click the Finance tab (this may
be under the More… menu).
- Click the Rates tab.
- Search for and select a user.
- Hover over the
dash and click Set
rate. If a rate already
exists, click the
existing rate and
click the Edit pencil
icon in the
billable rate
column.
- Enter a (new) billable rate for the
user and press enter.
The user’s billable rate
is now updated for
this project.
Another
option...
You can set rates from the Budgets and Billing tab within a project. Each of these options will bring you to the project level Rates tab.
Bulk
edit project
level billable
rates.
- Click Projects from the
Teamwork.com navigation.
- Search for and select a project.
- Click the Finance tab (this may
be under the More… menu).
- Click the Rates tab.
- Next:
- Select everyone: Click the
checkbox to the Name column’s
left.
- Select multiple people: Click the
checkbox to the left of each
user's name.
- Click the edit pencil from the floating menu at the bottom of the page. This appears when at least two people are selected.
- Enter a (new) rate in the billable rate field.
- Click Save changes.
The new rate is applied to all selected
users.
View
historical
rates
View a user's historical (i.e.
previous) rates on individual
projects.
- Click Projects from the
Teamwork.com navigation.
- Search for and select a project.
- Click the Finance tab (this may
be under the More… menu).
- Click the Rates tab.
- Click a user’s name.
The side
panel details the users
current rate along with their
rate history for that
project.
Best
practices
- Accurate time
tracking: Leverage
time tracking in Teamwork.com to
capture billable and non-billable
hours spent on tasks, allowing for
precise invoicing, cost analysis,
and better understanding of
resource utilization.
- Assign correct rates: Assign appropriate cost and
billable rates to people to
accurately reflect the true costs
and potential revenue
generated.
1.
Also
available on legacy subscriptions:
Premium, Enterprise.