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Setting Up Bill Rates With TimeLive

Billing clients for projects are one of the most necessary tasks, as revenue generation is vital for every organization for them to sustain themselves. Management of bills is undoubtedly a daunting task, but with the advent of technology and softwares such as TimeLive by Livetecs, it has never been easier.

Here we break down for you how the billing works in TimeLive. For the first part it is essential to know that the billing rates are divided into four different types that are configurable at the project time, then TimeLive will merely pick up the bill rate that you have chosen based on the time entries that you helped define for employee and project level respectively.

The bill rates will be decided when you one is adding the necessary characteristics of the project into the software. To choose your type, click on the option that reads ‘Project,’ and a drop-down menu will appear displaying the four categories as mentioned before which are:

  1. Use Employee Own Billing Rate; this option picks up the billing rates that were set by the workers according to their sheets.
  2. Use Projects Roles Billing Rate; this rate is predetermined by your organization according to project roles.
  3. Use Project employee Billing Rate; this type will choose the prices that are determined when the project is being set.
  4. Use Task-Based Billing Rate; as the name suggests, the bills will be decided on the number of tasks performed.

After you are done choosing a type of billing, then you will be required merely to put in your rates that the organization offers. After you successfully defined the prices, you will be required to add the team members according to the associated costs. The feature also lets you specify the tasks that are billable and non-billable with just a click of a button.

The billing feature lets you launch the billing history of every employee by clicking on employee option, edit, and the billing rate history. With this option easily edit the details or add new records or delete the entire file.

The entire billing system for each employee and project is in your hands, TimeLive’s billing feature makes it easy to generate invoices for tasks that have been performed with efficiency and without wasting valuable time.

The process for project role based rate billing and project-based employee billing is just the same as the previous one, except one has to determine the rates accordingly by choosing the correct option when adding projects to TimeLive.

The entire system is quite useful and managing expenses seem seamless with this feature offered by TimeLive. The customer support is available throughout, and the expertise of the technical team is always there to guide you. So hurry up and get started with the TimeLive time managing software to make lives of managers easier!

Alma Reed is an author and researcher dedicated to enhancing productivity. He is deeply interested in areas like time management, increasing productivity, and fostering healthy routines. Through his writing, he aims to assist people in boosting their job performance and attaining an ideal balance between work and life.

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