Time-Based Billing for Standard Project Rates

Time-Based Billing for Standard Project Rates

Time-Based Billing for Standard Project Rates

By on October 17, 2018

Make Billing a Breeze with NetSuite

In a scenario where all employees are charging time at the same rate, you can use something called Billing Rate Cards. This does take some initial configuration. Allow me to explain:
First, set up Billing Classes – (Setup > Accounting > Billing Classes > New). This is similar to your job codes. IE. Create a billing class for consultants, managers, etc.

 

Next, is the Billing Rate Card setup – (Setup > Accounting Billing Rate Cards – Edit the Standard Billing Rate Card)  This identifies what the billing rate (/hr) is for various Billing classes. Here, you can add in your hourly rate for each Billing Class:

 

Next, on the employee record, set their Billing Class:

 

Finally, Import Charge Rules (Works for time-based charge rules, used for all of your As Worked use cases)

  1. Set Rate Bases to “Billing Classes”. (Previously we were doing Resources). This creates a new mandatory field called “Billing Rate Card”.
  2. Set Billing Rate Card to “Standard Billing Rate Card”, the one that you edited in the step above.

When these employees enter time, (or have time imported against them), and these time entries generate charges, they will be at the defined rate.

 

For more information on NetSuite or Billing Rate Cards, contact Keystone today!

Keystone. Your Chicago-land on-demand software solution and integration provider.

Call – 866­-546-­7227 | Email – info@keystonebusinessservices.net

 

Hani Mamdani holds an MBA and is an ERP-Certified NetSuite consultant with over 4 years of experience in the NetSuite space. He has completed multiple full-cycle NetSuite implementations and is passionate about helping businesses leverage technology to grow and scale.