Project billing types

The project billing type defines the way of planning and accounting of the project. Each project may belong to one type only. It’s impossible to change the project type after the creation of the project.

Nonbillable project

Nonbillable projects are created for internal, investment, administrative and other projects, which don’t require payment from the customer.

This project type supports planning (for the entire project) and tracking (for any period of time) of labor contribution, the prime cost, and expenses. It doesn’t support revenue planning, billing rates, as well as the tracking of revenues and the profitability.

Fixed bid project

Fixed bid projects are created for the projects with the indicated amount of revenues. The revenue can be planned on the level of the project and the task level. The user is able to change planned values during the process of the project execution. This project type supports planning (for the entire project) and tracking (for any period of time) of labor contribution, the prime cost, and expenses. Estimated revenues and the profitability are planned automatically. The user is able to track profits and the profitability (for the entire project).

Time and materials (T&M)

T&M projects are created for the projects with the time-based payment. Revenues are not planned, but the user is able to indicate the billing rates, which will be available in the timesheets. Revenues can be tracked for any given period of time. This project type supports planning (for the entire project) and tracking (for any period of time) of labor contribution, the prime cost, and expenses. It doesn’t support profits and the profitability planning. However, it supports tracking of profits and the profitability for any given period of time.

Still need help? Contact Us Contact Us