Rates

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.