Time and material – ongoing invoicing

This type of contract is for simple and very common contracts for which the customer is invoiced continuously based on time and materials spent. The project manager is free to define hourly rates for employees, assignments or in general. Invoicing is based on consumption.

This type of contract is widely applicable and used for in-house projects without specific customers to invoice (the contract is simply set to be non-billable), and for delivery projects and ongoing consultancy.

As regards accounts, this type of contract is very simple, as revenue typically follows invoicing (except for very large projects).

In TimeLog
In TimeLog, the Time and material – Standard contract covers this type of contract. The contract contains a budget for work, expenses and travel expenses, which can be set as billable or not for each contract.

Hourly rates and invoicing settings are found in the project task plan. This type of contract holds an unlimited number of hourly rates and a highly flexible setup of billable versus non-billable work.

All contract types under Time and material can be set to disallow budget overruns (max. budget). If the budget is overrun, these hours will not be available for invoicing.