Rate Options and Setting up Your Rates

One of TimeSolv’s greatest strengths is its flexible rate structure. Even businesses that consistently use the same billing scale occasionally encounter exceptions, and TimeSolv is designed to accommodate those changes. This frees you to focus on your work, instead of manipulating your time and billing system to fit your specific needs.

Let’s take a closer look at your rate options and how to set up your rates.

The first step is creating timekeeper default rate codes, which is done under the account profile of each timekeeper. For each rate, you will enter a billable amount on each timekeeper’s Profile page. Failure to enter corresponding amounts will result in timecards with 0 value for that timekeeper.

When you enter details for a new client, you must indicate which rate by to apply (you can create unlimited rate codes using Global Rate, if you’d like). By default, timekeeper default rate is applied each time you make a time entry for this client. However, there are additional, project-specific options. A rate set up at the project level overrides a rate at the client level. Thus, you can bill multiple projects for the same client at different rates. Each time you create a new client, you can choose which rate to be applied to the project, or you can restrict the project to the hourly timekeeper rate.

Different Rates that can be applied

  • Timekeeper Default
  • Task then Timekeeper Default
  • Global Rate
  • Task then Global Rate
  • Matter Rate
  • Task then Matter Rate

To review, make sure you:

  • Create codes for all of your timekeeper rates.

  • Assign values for each code. These are entered on the Timekeeper Profile page. Refer to the Timekeeper Profile section for instructions.

  • Create codes and assign rate amounts to all tasks. This information is entered on the Activity page. Refer to the Activity Setup section for instructions.

  • Select the appropriate code for the client, when creating a new client.

  • Specify whether the corresponding client rate code should be used or if a task rate should be allowed when creating a new project. This is a required field.

  • Select the appropriate client/project when making a time entry. The rate code you designated on the Rate Code page automatically applies. If you choose to allow a task rate for this project, you may choose from the possible tasks. The appropriate task rate will apply to the time entry.