Billing and cost rates

Screen reference

Billing rates determine what is charged to the client. Cost rates help analyze internal cost, margin, and profitability.

What you can do

• Billing rates are commonly tied to labor categories and rate schedules.
• Cost rates may be tied to employees or subcontractors.
• Avoid duplicate billing rates for the same labor category under the same rate schedule.
• Review rate setup before using automated invoicing.

Environmental consulting example

Senior Environmental Scientist may bill at one rate while Staff Scientist and Field Technician have different billing and cost rates.