Control how the project agreed fees are invoiced to the client using fee types.
Fee types can be selected against each stage when using a full work breakdown structure. When using a simple project the fee type is pre-defined as 'fixed fee' as there are no stages to adjust.
Fee type options available are:
Fixed fee - set the agreed fee total to be invoiced to the client.
Percent of contract - create the agreed fee value as a percentage of the contract value.
Hourly rates - invoice the client for time and materials using the transactions created by staff entering their timesheets and from other project related expenses.
Capped rates - set the maximum value that the client can be billed for time and materials. This allows you to a cap value for timesheet and expense transactions to be invoiced to the client.
No billing - no invoices are created for this stage, and any timesheets or expenses are written off.
Learn more about stage fee types.
Note: If the project is a 'non-billable' project then the fee type is always set to be 'no billing'. The other fee types can only be applied to 'billable' projects.
Each stage in a project has a fee type assigned. There can be different fee types against stages in the same project to control how the fee is set, and how the project work is invoiced to the client.
The image below is of a project with a full work breakdown structure. There are multiple stages linked to this project, and each of these stages has a different fee type assigned. The stages and fee types combined together work to build the total project fee value.