Each employee in a service business has two rates. The rate that you pay them, and the rate that you bill them out to your clients at. Even if your employee is paid an annual salary, you can divide that salary by 2,080 to come up with their effective hourly rate. The 2,080 is based on 40 hours/week x 52 weeks.
It’s easy enough to set up the employee’s standard bill and pay rates in BillQuick.
What if you have a project, where for that project only, you would like to bill that employee out at a different rate?
This is accomplished with Fee Schedules in BillQuick Online. Fee Schedules allow you to create a different schedule of fees, for a particular client, project, or project type. You can create a fee schedule, and call it anything you want, and then use it whenever you want.
Once your fee schedule is set up, you assign it in the project, where you want that fee schedule to apply, instead of the employee’s’ standard rates.
Once a fee schedule is assigned to a job, those rates will be used when you bill the employee’s time back to your clients. If a fee schedule is assigned, and an employee is not included in the fee schedule with a different rate, that employee’s standard rate will apply.
Watch the video to learn how to use fee schedules in BillQuick Online.