In this article, you'll find steps for how to update a person’s billable rate or cost rate. Some updates may affect your historical data.

If you want to change task rates, you can see our article on editing tasks. And for more details about how changing billable rates affects your projects, see How are billable rate updates applied to projects?

Changing billable rates

Changing a person’s hourly billable rate requires editing that person's profile or making edits to a project-specific custom rate set for the person. Depending on where you make this change, the new rate will apply to all future projects or to a current project.

Updating a person’s default billable rate

If you update a person’s default billable rate, the new rate will apply to all projects set to bill by Person billable rate using the person’s default rates, starting on the date specified. It won’t apply to projects set to bill using a project-specific custom rate for the person or using other billing methods. To update a person's default billable rate:

1. Go to Team.
   • Only Administrators and Managers with assigned people have access to the Team section.
   • If you're the only person in your account, you can access your own default billable rate by clicking your name in the top right and choosing My profile. 
2. Click the Actions dropdown to the right of the teammate you’d like to update, and then select Edit.
3. Go to their Basic info (left menu).
4. For Billable rate, click the Edit billable rate link.
   • Managers will only be able to view and edit billable rates if they have special permission.
5. Enter the new billable rate and select whether you’d like it to apply from a certain date onwards or to all time tracked by the person (for projects using their default rates).
   • Note: The effective date must be the current date or a past date. It can’t be a future date.
6. Click Save billable rate.

Changing a person’s billable rate within a current project

If you change a person’s project-specific billable rate from their default rate to a custom one, the new custom rate will apply to all of the hours that they track to that project. This includes hours tracked before the rate change.

If you change their project-specific rate from a custom one back to their default rates, any default billable rate changes tied to dates will once again apply to time tracked to the project.

For projects billing by Person billable rate, you can switch between a person’s default rates and a custom rate at any time. To do this:

1. Head to Projects.
2. Click the Actions dropdown to the right of the project you’d like to update.
3. Select Edit. The Edit Project screen will appear.
4. Scroll down to Team and click the Edit rate button for the person.
   • Note: You can only apply billable rates to people if your project bills by Person billable rate.
5. Select the option you want, enter a custom rate if applicable, and click Save billable rate.

There’s currently no way to change a person’s project-specific custom billable rate as of a certain date and maintain the previous rate for time tracked before that date. If you need to do this, we recommend duplicating the project and using the new billable rate in the new, duplicate project. You’ll have as many projects as you do rates per person, but this will ensure the accuracy of your reports and invoices.

Changing cost rates

You can change a cost rate from a person’s profile. When changing a cost rate, you can apply the new rate to all tracked time, or enter an effective date for the new rate.

1. Go to Team.
   • Only Administrators can view and update cost rates.
   • If you're the only person in your account, you can access your own cost rate by clicking your name in the top right and choosing My profile. 
2. Click the Actions dropdown to the right of the teammate you’d like to update, and then select Edit.
3. Go to their Basic info (left menu).
4. Click Edit cost rate.
5. Enter the new cost rate, select an effective date or apply it to all time entries, and save your changes.
   • Note that the effective date must be the current date or a past date. It can’t be a future date.