Frequently Asked Questions

What are Billing Rates?

As a business, when you and your team track time in FreshBooks, a rate is assigned to determine the value of the time worked. This helps communicate the value of your time to the Client, or help you put a value on your business' productivity.

You can decide the Rate that you charge for each or all entries with the below options: 

 

Standard Rate

The Standard Rate is automatically applied to all unbilled hours for you. Steps are below: 

  1. Click on your photo or initials in the top left corner
  2. Click on Company Profile
  3. At the bottom, enter your Standard Rate
  4. Click Save to finish.
    Standard rate field.

 

Single Hourly Rate

The Single Hourly Rate is ideal if you want all time tracked to be consistent for a particular Project, regardless of who tracked the time or which Service was chosen.

  1. Go to the Projects section
  2. Click on any existing Project and click on the Edit button, or click on the New Project button
  3. Under Project Settings, ensure Project Type is set to Hourly Project and saved
  4. Then click on Set Hourly Rates
    Project settings button.
  5. Under Select A Billing Method, choose Single Hourly Rate
  6. You can also check off Save this as my standard rate (optional) for all time entries
  7. Add in the number in the box and click Done.
    Single hourly rate option.

 

Team Member Rates

If you have Employees and Contractors working with you, the Team Member Rates allows you to apply a Rate unique to each Team Member on all of their time entries in your account.

  1. Go to the Projects section
  2. Click on any existing Project and click on the Edit button, or click on the New Project button
  3. Under Project Settings, ensure Project Type is set to Hourly Project and saved
  4. Then click on Set Hourly Rates
    Project settings button.
  5. Under Select A Billing Method, choose Team Member Rate
  6. Add a Rate for each Team Member, including yourself. Click Done to finish.
    Team member rates options.
     

Service Rates

Service Rates allows you to bill different Rates for each Service, regardless of the Client you're billing. Service Rates are set up on a per-Project basis by creating or editing an existing Project: 

  1. Go to the Projects section
  2. Click on any existing Project and click on the Edit button, or click on the New Project button
  3. Under Project Settings, ensure Project Type is set to Hourly Project and saved
  4. Then click on Set Hourly Rates
    Project hourly rate button.
  5. Select Service Rates
    Service rate option.
  6. Add a Rate for each Service and click Done to finish.

If there are no Services to add a Rate for, you'll need to add a Service (or several) to the Project first with the steps here.

 

Flat Rate

Flat Rate is useful if you want to bill for a single fixed rate regardless of how many hours are tracked towards a Project. Create a Flat Rate Project with the steps below:

  1. Go to the Projects section
  2. Click on any existing Project and click on the Edit button, or click on the New Project button
  3. Under Project Settings, ensure Project Type is set to Flat Rate Project and saved Project type button.
  4. Then click on the Flat Rate field at the bottom of the Project and type in the Rate
    Flat Rate option.
  5. Click Save to finish.

When you generate an Invoice for a Flat Rate Project, it will always display the Flat Rate regardless of how many time entries you've tracked to it.