We sell a lot of fixed rate projects. I see there is a fixed-rate option under the project. However, I’m wondering if I should also track these project hours as “billable”. Technically, were getting paid for the hours worked, but it’s on a fixed rate basis. Also, it seems that much of the reporting depends on “billable” hours. Any insight would be appreciated.
Thanks!
Great question about how to set up fixed-rate projects in Toggl.
For fixed-rate projects, marking time entries as billable is really a decision based on how you want to use Toggl’s reporting features. Since you’re getting paid for the hours worked (even though it’s at a fixed rate rather than an hourly rate), marking them as billable makes sense from a business perspective and will allow you to include those hours in billable-focused reports.
The main benefit of marking fixed-rate project hours as billable is that it gives you more flexibility in your reporting. You’ll be able to see billable vs non-billable breakdowns, which is useful for understanding project profitability and team utilization.
Since you mentioned reporting depends on billable hours, marking your fixed-rate project time as billable will ensure you can pull the full picture of your billable work in your reports, even though the actual billing amount is predetermined by the fixed rate you’ve set on the project.
There’s no downside to doing this, so it comes down to whether you want that visibility into billable hours for your reporting purposes.