Master Billing Rates are a global setting, they are common for all Profit Centers. These rates can be imported into new contracts. When setting up a new contract you select which rates to import and which to skip. You can also add unique rates to a project at any time. Further, you can change the value of a rate for any project without affecting the master rates or any other projects.
Modifying master billing rates does not affect existing project rates as they are usually under contractual agreements. If you do want to update the billing rates for a given project to match the current master billing rates, there is a process for doing so.
Use the + sign to add new billing rates or the edit pencil to modify existing rates.
NOTE: When importing your existing data, all master billing rates will be imported into each project. Be sure and adjust these rates to match your rate sheet prior to importing your historical data.
The category field is used to group and organized your billing rates. Some firms have different rate packages depending upon the type of client they are working for.
The name and amount fields are where you enter the values that will flow onto your invoices when doing hourly billings.
Finally, there is an Active toggle. Though it is not necessary to keep old billing rates that are no longer in use we give you the option.