TimeCamp’s Billing add-on allows you to easily track your project’s budget and margin. You can create various income/cost rates and assign them to specific projects or users. Then simply track time on your tasks and generate reports, which would count your margins automatically.
Billing rates and tracked time can be easily used to create an invoice.
Specific billing rates are available only in a Pro plan. General billing settings will be available both in Basic and Pro plans.
How to enable billing rates?
The administrator's privileges are required to access account settings and enable the module.
To activate the Billing module log in to your TimeCamp, click on your avatar in the upper-right corner and select the Account Settings option. Next, go to the Add-ons tab, find the Billing module, and click on the switch button to enable the Billing rates. After the module is enabled click on its Settings.
Once you do it, there will be another tab created called Billing rates, where you can define specific billing rates for your account. You will be automatically redirected to the general Billing settings when you enable the module.
The administrator's privileges are required to access settings and define rates.
To get to the billing settings click on your avatar n the upper-right corner and select the Account Settings option. You'll be redirected to the General tab where you can use the shortcut to get to the Billing settings.
Here you can set currency (1), decide whether or not to use the rate value history feature (2), and manage the default general rates (3).
The rate value history feature will allow you to use different rates (for a specific project or user) in a different timeframe. Here you can learn more about applying and editing rates history.
In the managing section you can change the rate’s name (1), set value (2), change the type to revenue or cost (3), delete this rate (4) and also add a new rate (5).
By default, the revenue rates define your income, the amount you get from working on projects and tasks. And the cost rates define how much this work costs you, and the expenses that you spend money on. You can also change the title of the rates to match your needs.
These rates will be applied only if you don’t set up specific rates for Users or Projects.
You can set both revenue and cost rates or keep only one type of rate.