Billing Types
Project billing types define how a project generates revenue and how financial data is calculated.
Each project must use one of four billing types:
Time and Materials
Fixed Fee
Retainer
Non-billable
The selected billing type determines how:
Revenue is calculated
Costs are tracked
Profitability is displayed
How to set a billing type for a new project
You can select a billing type during project creation.
Create a new project
Locate the Billing Type field
Choose one of the following:
Time and Materials
Fixed Fee
Retainer
Non-billable
(If applicable) Enter the project fee
(Optional) Set a project budget
This ensures billing and reporting are configured from the start.
How to update billing type for an existing project
You can change the billing type at any time in project settings.
Go to Projects
Select your project
Click the three dots (•••) in the top right
Select Settings
Open the Billing tab
Choose a new billing type
Update:
Project fee (for Fixed Fee or Retainer)
Billing cycle (for Retainer)
Changes apply immediately to project reporting and calculations.
Understanding Each Billing Type
Time and Materials
Use Time and Materials for flexible or evolving projects.
Revenue is based on actual time worked and resources used
Ideal for projects without a fixed scope
Tracks billable hours and expenses dynamically
This billing type adjusts as work progresses.
Fixed Fee
Use Fixed Fee for projects with a clearly defined scope.
Set a total project price upfront (e.g., $10,000)
Revenue is fixed regardless of time spent
Costs still track time and expenses
This is best for predictable, scoped work.
Retainer
Use Retainer for ongoing or recurring work.
Set a recurring fee
Choose a billing cycle:
Weekly
Monthly
Quarterly
Every 6 months
Yearly
Revenue is calculated based on the number of billing cycles
This works well for long-term client engagements.
Non-Billable
Use Non-billable for internal or non-revenue work.
No revenue is generated
Costs (time and expenses) are still tracked
Useful for internal projects or operational work
How to view project financial insights
Each project includes a Project Insights tab for financial tracking.
In the Project Finances section, you can view:
Billing status
Revenue
Cost breakdown
Profitability
For Retainer projects:
You can switch between billing periods to review performance
How billing types affect project finances
Billing types directly impact how financial data is calculated and displayed.
Time and Materials
Revenue = billable time tracked during the selected period
Costs = time cost + expenses during that period
Fixed Fee and Retainer
Revenue = total project fee
Retainer multiplies fee by number of billing cycles
Costs = time cost + expenses within project dates
Non-billable
Revenue = none
Costs = time cost + expenses within project dates
Project Profitability Report
The Project Profitability Report provides a detailed financial overview.
Data is grouped by billing type
Includes revenue, costs, and profitability
Can be exported as a CSV file for further analysis
This helps you evaluate project performance and margins.
FAQs
Can I change the billing type after creating a project?
Yes, billing type can be updated anytime in project settings.Does billing type affect budgets?
No, budgets are configured separately and can be used with any billing type.Which billing type should I use?
It depends on your project:Flexible scope → Time and Materials
Fixed scope → Fixed Fee
Ongoing work → Retainer
Internal work → Non-billable
Can I still track costs on non-billable projects?
Yes, time and expenses are still tracked even without revenue.