How to bill a Time&Material project (bill by the hour)

Learn how to sort out your time entries based on their status: billable, non-billable, or billed for your Time&Material projects.

Stefania Rossi
Written by Stefania RossiLast update 4 days ago

In Timeneye, you can mark your hours as billed or billable in several ways. This helps you track your work, create accurate invoices, bill clients correctly, and know if your work is profitable.

Time&Material projects are considered billable in Timeneye: this means that you set hourly rates, mark the individual entries as billable/billed/unbilled/not billable, and keep track of your earnings. A Time&Material project can also have a monetary budget, and you can also include project Expenses in the budget calculations.

(Working with Fixed fee projects? Check out this guide instead)

Understanding billing in Timeneye

  • "Billable" includes both billed and unbilled time within a billable project. It's the total potential revenue for a project;

  • Billed means you've already received a payment for that work;

  • Unbilled means you have yet to bill it to the client;

  • Non-billable: a specific activity that you decide to exclude from the billable count (see more at the end of this guide).

How to change the billable status of time entries (Billable, Unbilled/Billed, Non-billable)

Firstly, you can do it from the Entries list, which you can open by clicking the Timesheet icon on the sidebar.

In the Entries list, click on the Show Filters button, and you'll be able to sort out your entries according to the filters until you get to the entries you need.

  1. Select the filters. You should see the checkbox appear next to the entries;

  2. Start selecting the entries: the light blue section appears on the left. Here you can select the Billed Status of your entry;

  3. When you're done, click on Update entries.

Similarly, you can mark the entries as Billed/Unbilled/not billable from the Project Status page:

  1. In the Projects section of the workspace;

  2. Click the project's name and open the Project status page;

  3. In the top boxes, look for the shortcuts to open the Entries lists next to the Billable time counter:

From there, you can open the Entries list, select the billable entries you need, and change their status.

Adding a Monetary Budget to a billable project

In Timeneye, you can set a Time or Monetary budget for all your projects. For Time&Material projects with a Monetary budget, the progress bar shows the budget completion compared to the actual revenue (in other words: the total billable amount)

Billing project Expenses

In a Time&Material project, you'll also want to include your Expenses in your final calculations. This can be done easily by checking the "Include expenses" option:

To allow you the flexibility to decide what exactly to bill your client, when you add an expense and link it to your billable project you can decide if the expense should be billable or not:

All the billed expenses will be subtracted from the Monetary budget total. Non billable expenses won't be included in the Monetary budgets.

Non-Billable entries in a Billable project

Are there any activities in your billable project that you'd rather leave out of your totals than put in your client's invoice?

From the same view, you can mark an entry as non-billable even if it belongs to a billable project.

Resources:

If you’re curious to read more about the topics covered in this article, we recommend looking at the resources below.

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