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The different invoicing methods of projects
The different invoicing methods of projects

More info about the different invoicing methods

Nick Dekker avatar
Written by Nick Dekker
Updated over a week ago

In this article, we will explain more about the different invoicing methods within TimeChimp.

Attention! In order to set the invoicing method for a project, you need to have the role of administrator or project manager of all projects.

When creating/editing a project, in the 'Invoicing' tab, you can choose from different methods to invoice your project.

Hourly Rate

  • Activity hourly rate Specify different hourly rates per activity (e.g. Marketing = €90, Analysis = €100, Development = €120). When you select this option, you will see an extra column when adding your activities, where you can fill in the rates. If a rate has already been added to the activity in the settings > Management, then this rate will be automatically filled in.

  • Employee hourly rate Specify different hourly rates per employee (e.g. Jan de Vries = €90, Pieter Smit = €110). When you select this option, you will see an extra column when adding your employees (team), where you can fill in the rates. If a contract has been added to the employee with an hourly rate, then this hourly rate will be automatically filled in.

  • Project hourly rate Specify a fixed hourly rate for each employee and activity. When you select this option, a new field will appear below where you can enter the project hourly rate.

  • Customer hourly rate Use the standard hourly rate for the customer (for each employee and activity). You can specify this when creating/editing the customer. Go to Management -> Customers for this. Go to 'Relations' > open the customer and edit or add the default customer hourly rate under the 'financial' section.

    Fixed price

  • Project rate Use a fixed rate (regardless of how many hours) for the entire project (e.g. €15,000). When you select this option, a new field will appear below where you can enter the rate. You can also invoice this total amount in instalments; for this, you will see a separate option.

  • Activity rate Use a fixed rate (regardless of how many hours) per activity (e.g. Marketing = €5,000, Analysis = €10,000). When you select this option, you will see an extra column when adding your employees (team), where you can fill in the rates.

    Recurring term amounts

  • Subscription Use a subscription when you want to invoice the customer a fixed amount every period (which can be weekly, monthly, quarterly or yearly). Also, view the status of your subscription precisely in your project dashboard (have you spent more/less than invoiced).

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