![]() ![]() With this option, it is possible to use a combination of hourly and fixed-cost tasks. Project Hourly Rate – the billing amount will be calculated based on the Hourly Billing rate specified for the entire project, regardless of who is doing the work.Ĭustomer Hourly Rate – all projects done for this Customer will be billed based on one specific rate, regardless of who is doing the work.Īctivity Hours Rate – billing will be based on the rate’s set for the projects individual activities (tasks), regardless of who is doing the work. Resource Hourly Rate – the billing amount will be calculated based on the Hourly Billing rate specified for each employee, regardless of what project they are working on. ![]() In the case of Time and Material billing, there are multiple ways to charge for your team and contractors time spent on the project. Time and Expense Tracking in Easy Projects Ideally, the difference (Revenue Variance) between Target Revenue and EAC Project Revenue should equal or be greater than zero. #BILLABLE EXPENSE INCOME PLUS#Summary of the Actual Billing and all remaining Labor Billing, remaining Planned Billable Expenses plus Flat Fees of all unfinished activities. Estimate at Completion (EAC) Project Billing (Revenue).Ideally, in the end, Actual Billing should equal or be greater than Target Revenue. Actual Billing is the sum of all Actual Time spent on the project multiplied by the Billing Rates plus all Actual Billable Expenses and Flat Fees of all completed activities. The amount of money matching the work you are ready to bill your customer for. Otherwise, if your project Billing Type is Time & Material, you should set your Target Revenue at the amount you plan to collect from the Customer and still make a profit (more on it later). If your project Billing Type is Flat (Fixed) Fee, your Target Revenue is equal to Project Fixed Fee. The expected total amount of money your Customer will pay for this project. Similar to Cost, Revenue can be represented as multiple metrics, such as: So what is project revenue? At Easy Projects, we use the following definition: Project Revenue (Billing) is the total amount of money a Customer pays for a project. While almost every project has a cost and budget, Project Billing only comes to life when you have a paying Customer. ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |