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Author Topic: Handling Fixed Quote or Maximum Billing Jobs  (Read 4185 times)
FlashRobert
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Posts: 3


« on: August 03, 2010, 08:23:06 am »

Hi All,

I have been using Time Master for a while and it has served extremely well. I enter time against many clients and projects with multiple hourly rates and happily use the emailed "report" to import into my billing system at the end of the month.

Recently however i have been doing more projects which are either a fixed price (from a quote) or have a fixed monthly amount (ongoing contracts).

I have been handling these by setting the relevant project to $0.00 hourly and charging the first hour at the quoted or fixed monthly rate ie $3000.00. this way I can still track my hours and bill the correct amounts. This works ok until i forget to set the rate and i don't notice until after the billing has been done.

Does anyone have any thoughts on this or a better way to do it... or is there an option in TM which I am not using?

Cheers

Rob
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Adam
Administrator
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Posts: 991



« Reply #1 on: August 03, 2010, 11:36:46 am »

We have not had the time to implement "flat rate projects" yet, but that is on our ToDo list.  What we have been recommending to people right now is to do the billing using the Expenses.  Bill your client for the project using one expense entry.  Next add yourself as a Client.  Now when you create Time Entries, bill them to yourself.  That way you can track the time to know how well you are doing on estimates, but still be able to bill the flat rate to your client using the Expenses.
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FlashRobert
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Posts: 3


« Reply #2 on: August 03, 2010, 05:59:24 pm »

I didn't think of that but yes it kind of makes sense... i will play around to see if it is a good fit for me.
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