Rates

Flowtly Editorial Team4 min

Rates are a crucial part of time-based invoicing in Flowtly. Each employee can have a defined rate for different projects with possibility to extend each of them, which allows the system to accurately calculate and generate invoices based on logged hours and time frame for each rate. An employee can have multiple rates for the same project, but the dates for these rates must not overlap. New rate is possible to be added only for active projects that have Client assigned. Rates are linked to projects with assigned clients, ensuring that all project-related costs are accurately reflected in financial reports.

Key Points for Rates in Flowtly

  • Rates define the cost per hour an employee is billed for on a specific project.
  • These rates are essential for generating invoices based on hours logged by employees.
  • Rate can be set to any project which an employee is assigned to (but only if this project is assigned to a client).
  • Rate currency is determined by the currency set for the client the project is linked to.
  • Rates can be added, extended, or edited to ensure accurate tracking.

Managing Rates

There are three main actions you can perform on rates in Flowtly:

Adding a New Rate

If an employee is added to a project for the first time and does not have a rate assigned, follow these steps:

  • Click the "Add Rate" button.
  • Select the Project (only projects assigned to a client will appear).
  • Provide the Employee Position (this position will be reflected in the invoices).
  • Enter the Rate per hour (this will be set in the client’s currency).
  • Select the Date From (by default it's prefilled by current date).
  • Select the an Date To (optional).
  • Click "Add Rate" to save.

Edit an Existing Rate

If a rate needs to be updated (e.g., due to a position change or an end date extension)

  • Locate the rate under the project you want to edit.
  • Click the Edit (pencil icon) next to the rate.
  • Provide necessary changes.
  • Click "Save" to confirm changes.

Managers also have the possibility to remove already existing rates by clicking Bin button present for each rate.

Note: Changes to existing rates will impact invoicing calculations from the updated date onwards.

Extending an Employee’s Rate

The Extend function is used when an employee’s rate changes at a specific point in time. Instead of overriding an existing rate, extending allows for tracking historical rate changes.

  • Click Extend next to the relevant project.
  • Role and rate are prefilled with current values for visibility.
  • Adjust the Rate per hour to the new one.
  • Date from is prefilled by tomorrow's date, but is editable if necessary.
  • Provide Date to if applicable.
  • Click** Extend rate** to apply the change.

Note: Extending rates ensures managers have full visibility into rate adjustments over time. The rate change history is visible in the rate tracking chart.

How Rates Impact Invoicing (if Invoices module is active)

Flowtly automatically calculates invoice amounts based on logged hours and assigned rates. If an employee does not have a valid rate assigned for a project, their logged hours will not be included in invoicing. When an employee has a rate set and time logged under a specific project, the manager can generate an invoice directly from the Working Hours Report page within the Projects section. For more details, visit the Projects List article.

Example use cases

  • Onboarding a New Employee for a Client Project: Assign a specific hourly rate for the employee's role on the project to ensure their time is accurately billed from day one.
  • Employee Promotion or Role Change: Update an employee's rate to reflect their new responsibilities or increased experience on an ongoing project using the "Extend Rate" function to maintain historical accuracy.
  • Project Contract Extension: Extend the Date To for an existing rate when a project is prolonged, ensuring continuity in billing based on the agreed-upon rates.
  • Generating Client Invoices: Rely on accurately defined and active rates to automatically calculate billable amounts for services rendered, based on hours logged against projects.

Connection map

Refers toPart of
Documented hereDocumented elsewhere
audit-log records person. person works under agreement. work-schedule assigned to person. benefit-assignment held by person. employee-profile describes person. employee-document filed against person. responsibility assigned to person. performance-target set for person. meeting held with person. holiday-request submitted by person. leave-entitlement held by person. project staffed by person. project-rate rates person. booking books person.recordsworks underassigned toheld bydescribesfiled againstassigned toset forheld withsubmitted byheld bystaffed byratesbooksAAudit trail — The record of who did what and when. It is how a user action is investigated after the fact, and what compliance is demonstrated from.Audit trailPPerson — An employee. The central record the rest of the workforce data hangs off — profile, documents, leave, benefits, rates.PersonAAgreement — The document formalizing the terms between the organisation and one employee or contractor. It is the foundation of the employees module: whether someone has an active agreement decides whether they appear in the other modules at all.AgreementWWork schedule — The working days, hours and breaks assigned to an employee, from the week the assignment starts. It is what the Work Time calendar draws.Work scheduleEEmployee benefit — One benefit granted to one person for a date range. A person can hold several at once.Employee benefitEEmployee profile — The detailed record for one person: contact details, job role, department, employment history.Employee profileEEmployee document — A file attached to a person — a contract, a review, anything filed against them.Employee documentRResponsibility — An area of ownership assigned to a person.ResponsibilityPPerformance target — An objective set for a person and measured against.Performance targetMMeeting — A recorded one-to-one or review between people.MeetingHHoliday request — An employee's request for time off, submitted for approval. Approving it is what turns it into leave the rest of the system counts.Holiday requestEEntitlement — How much leave a person has for the leave year. A request draws it down; the balance is what remains.EntitlementPProject — The core organizational unit for a business initiative, client engagement or internal work. Everything tracked — time, cost, invoicing, profitability — hangs off one.ProjectMMember rate — A team member's billing or cost rate on a project. Rates are per member, so the same person can cost differently on two projects.Member rateBBooking — One person committed to one role for a stretch of weeks, at a percentage of their time. A booking is a plan, not a record of work done.Booking