Cost-Plus Billing

A time tracking system configuration allowing different hourly billing rates for various employee roles, seniority levels, or skill sets, automatically applying the correct rate when generating client invoices based on who performed the work, essential for professional services firms with tiered pricing structures.

Advanced time tracking feature enabling different hourly rates for different clients, matters, task types, or team members, allowing precise billing aligned with value delivered and client agreements rather than one-size-fits-all pricing.

Comprehensive hourly rate calculator tool that helps freelancers and contractors determine their rates by factoring in desired salary, expenses, billable hours, taxes, and profit margins.

Practice of tracking all work hours throughout the day without gaps, ensuring complete accountability and accurate payroll. Every hour is assigned to a project, task, or category, creating comprehensive data for billing and analysis.

Classification system distinguishing client-billable work from internal activities. Critical for accurate client billing, profitability analysis, and understanding true project costs including overhead in professional services.

Legal billing best practice of recording time immediately as work is performed, rather than reconstructing hours retrospectively. Supported by ABA Model Rule 1.5, this practice ensures accuracy, prevents revenue loss, and maintains ethical billing standards.