Time&Money provides unparalleled features for valuing time and expenses. With unlimited charge rates you can define charge rates by person, by project, by date, by employee role on a project, by the type of work they are performing on a project, or a combination of any of these.

  KEY FEATURES >
  • Powerful, rating system
    triple rating system simultaneously tracks internal cost rates, external charge rates as well as billing rates
  • Flexible structure
    unlimited rates by any combination of customer, project, employee, employee role, project, task, date
  • When only the best will do
    if you want to charge one way, but your system only lets you charge a different way, you need to compromise... your customers are not going to accept being charged more because your system doesn't allow it and you don't want to charge less than you can - the best thing is to be able to charge exactly the way you need to.
  • Freedom
    With Time®&Money, you have the freedom to do it your way: you can have a different rate for each customer, each project, each employee for a project, a different rate for each person for each project depending upon what they do on the project and when they do it.... although you are unlikely to use all of the power and flexibility that exists in Time®&Money, the flexibility is there for you when you need it, so you can charge what you need to charge without making any compromises to your rates....
  • Historically accurate
    complete history of rates is maintained allowing you to enter future rates as well as review historical chances as well as guarantee historical records and accuracy
  • Powerful reporting
    triple rating system allows you to report upon costs, recharges, billing history as well as combinations: profitability, billability, under / over recovery etc. by project, project task, employee, customer, employee by project, by task, by customer etc.
  • Triple Burn rate
    provides ability to simultaneously view burn rate in hours, costs and billing: %age of time used, %age of costs spent, %age of billing raised
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Time®&Money - Costing and Charging

We've all heard the old adage "by watching the pennies the dollars (and pounds) take care of themselves", yet time and again we find that organizations have to make compromises and modify their rates because of limitations in the software they use - which ultimately leads to them setting their rates lower than they should.

We see situations where the software organizations use limits them to a handful of rates (just 5 rates per person is strangely common). Similarly most systems do not hold rates by date, they are fixed in time, yet in the real world companies need to change their rates from month-to-month, year to year, by customer or project, by the employee performing the work, the employee's role on a project or the work they were doing - and often the rates you need to charge involve a combination of these variables.

With Time®&Money we've worked hard to develop a product that shatters these limits so that you are free to set your rates the way you work. Whether you have rates specific to a customer, a project, the person doing the work, what they are doing, the date they do the work or a mixture of any of these, you can.


Triple Time Rating System
Time®&Money provides three rating systems to help you value and understand the time

spent on a project, costs vs charging and what you actually bill to a customer.

The cost rate values the cost of your employees' time, the charge rate values the time that could be billed and the billing rate logs the value that was billed to the customer.

Even if you operate on a fixed price basis, the rating system allows you to analyze profitability, you can compare what you billed to what you could have billed if the project were a time & materials project.


Cost , charge and billing rate build up.

Reporting
With powerful costing and charging you need powerful reporting, and Time®&Money will not disappoint. You can report upon all three rating valuations simultaneously through our active drill downs, standard reports, custom reports and our dashboards. See the section on reporting for full details.

Summary
Time®&Money's triple rating system and flexible charge rate rules allow you to support literally any project charging structure and billing allows you to generate invoices direct from your projects utilizing the time and expenses or fixed price schedules. Once converted to money, these transactions can also be posted to your financial accounting solution. If you would like to discuss your costing and charging needs, please do not hesitate to contact us.

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