Price model: Hourly rates

The price model Hourly rate is used if you are invoicing according to elapsed time. Here comes a closer description of the different choices.

Hourly rate base – Here you define which hourly rate that should be used for co-workers that do not have a specific price under Hourly rates per employee (see down below).

Here is an explanation of these settings:

Custom

Hourly rate must be specified per co-worker. No co-worker automatically gets set to an hourly rate on the project. Should the project mainly be priced on the individual workers, we recommend this choice. You are forced to consider the hourly rate per person per project, and the chance of co-workers automatically getting invoiced with wrong standard hourly rate is reduced.

Hourly rates specified for co-workers

Unless a specific hourly rate is defined for the co-worker under Hourly rate per employee, standard hourly rate per co-worker is used.

Hourly rates specified for roles

Unless a specific hourly rate is defined for the co-worker under Hourly rate per employee, standard hourly rate per role is used.

Common hourly rate

Unless a specific hourly rate is defined for the co-worker under Hourly rate per employee, everybody who works on the project is set to the same hourly rate.

Hourly rates specified for customer

Unless a specific hourly rate is defined for the co-worker under Hourly rate per employee, standard hourly rate defined on customer is used.

Hourly rates specified in price list

Unless a specific hourly rate is defined for the co-worker under Hourly rate per employee, hourly rates specified in price list is used.

Employee true cost specified for co-workers

This setting allows for setting the hourly rate to be based on the employee true cost. The true cost can be set in the individual co-workers profile.

Hourly wage specified for co-workers

The hourly rate will be set equal to the hourly rate specified in the indivual co-worker's profile

Other settings

If you are a pro customer and use the functionality for partner companies, you will have an extra setting this is called: Main project. What this setting does is that it uses the hourly rates from the external project as a basis for the hourly rate. This is specially useful in case the partner companies charge the same price.

This picture shows the Hourly rate per employee – Click here to get a list of all team-members. Should the hourly rate base be set to Custom, you have to add hourly rates on all team-members working on the project.

The rest of the settings are explained below:

Estimated total fee

Here you can specify a possible total fee. An estimated total fee is the maximum fee that is invoiced on a project, even though the worked hours would exceed this fee. Be aware that Moment will allow yo to go beyond this fee and that no automatic warnings will be given if this is exceeded.

Appear in to be invoiced

This setting allows to set the way in which the program will treat additional costs such as product sales and billable expenses, whether these will be added to the totals or not. Regarding billable expenses, these settings can be overruled in the individual expense. You can also click on the "information" icon to get more info.

Surcharges to fixed price/invoiced expenses

You can add a surcharge to invoiced hours. The surcharge is added on an invoice line level. it’s like a discount, except it adds instead of subtracts. This is not a common function. We have a separate function for cost connected to administration work. This shows up at the end of the invoice as its own invoice line.

Price list for products

Here you can choose an avaiable price list for products. Price lists are created in setup > price lists > for products

Billable hours

New time records will be set as billable for the purpose of reporting and invoicing.

Invoiced separately

This allows the price model to show up as available for invoicing on its own.

Hourly rates in a price model can also be defined for different periods in the future, similar as they can be defined for each co-worker

For more details regarding hourly rates, how they are calculated and how you can change them, see this article.