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Invoicing and budgeting
Setting up billing and budgets in projects
Setting up billing and budgets in projects

Set billable rate by category, cost/hour per user, and billing and budgeting preferences by project

Héctor Emperador avatar
Written by Héctor Emperador
Updated over a week ago

From this section you can:

Thus, when your employees record their work hours, both the cost of the time spent on the project and the billable rate will be automatically calculated. In addition, after making these adjustments, you will be able to generate budgets or invoices based on the hourly registration and the rate/cost per hour established in each of your projects.

Remember to verify that you have the necessary permissions to access the configuration options for billing and budgets of your projects in Holded

Billable rate by category

Holded provides you with default categories so you can set your hourly billable rate directly. You will be able to edit them, or add others, as well as choose between them within your projects and indicate the hours invested:

  1. Under Projects, click Billing and quotes

  2. Under Billable Rate by Category, at the bottom, keep the default name for the category, or edit it

  3. Sets the color of the category

  4. Indicates whether it is a billable category or not through the selector (by activating it you will be able to generate invoices for said categories; it is activated by default)

  5. Enter the hourly billable rate

  6. Click the "Save" button at the top right of the screen

💡 To add new categories, tap + New Type . To remove a category, click the trash can icon to the right of it

You will be able to invoice the client for the work hours recorded from the Billing section in the corresponding project. In addition, within each of your projects, you can modify the categories and rates established from the Billing section. These changes will not affect the rates established in the general settings.

Billable rate and cost/hour per user

In this section you can establish the default rates and cost per hour for each of the users and, therefore, each of the potential team members involved in your projects.

When time recording, costs and fees allow you to convert recorded hours into invoices. You can perform this action from each of your projects in Holded:

  1. Under Projects, click Billing and quotes

  2. At the top, enter the billable rate per hour and the cost/hour for each user

  3. Click the "Save" button at the top right to save the changes

To modify/edit the established costs and fees, simply re-enter them in the corresponding box per user and press "Save".

Changing an employee's rate or cost/hour will not change the cost/rate of hours already recorded. The new rates and costs will be counted for future hours.

Billing and budget preferences by project

In addition to the general configuration that you have established in the section of Billing & Quotes , Holded allows you to customize your billing and quote settings for each of your projects.

Preferences entered in this section take precedence over general Billing & Budget settings

To customize your billing and budget preferences by project, follow these steps:

  1. Go to Projects , in the navigation bar, and go to the project where you want to customize billing and budget preferences

  2. Within the project, click on "Settings", and select the "Billing" option

  3. Activate the "Billing" and "Cost forecast" options

  4. Under Hourly Rates, use the dropdown menu to choose the hourly rate method used to calculate the billable amount for your project:

    • Fixed rate: will be a total rate and will not take into account the time stamp.

    • Project hourly rate: Fixed hourly rate that automatically calculates the billing price when users log their work hours.

    • Member hourly rate: When recording work hours, billing is automatically calculated based on each member's assigned hourly rate.

    • Billing Category Hourly Rate: sets a rate to each category so billing is calculated based on hours logged by category.

  5. Under Budget, choose the method for calculating costs using the dropdown menu:

    • Total cost per member: adds a budget limit for each member that will be filled based on the hours logged.

    • Total cost by billing category: the option of total budget and cost/hour depending on each category will be activated in the Billing Categories section.

    • Total Project Hours: Sets a maximum total number of hours logged into the project.

    • Hours by billing category: the budget (hours) and cost/hour option will be activated in the Billing Categories section. You can modify this value to establish a limit of billable hours per category.

    • Hours per member : the budget (hours) and cost per hour option will be activated in the Members configuration section. You can modify this value to establish a limit of billable hours per member.

  6. Hit "Save" so your changes are not lost

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