Laurentiu Bancu
Laurentiu Bancu

Improved project billing, planning and price estimates

Starting today, there will be three types of projects in Paymo (by billing type):

  1. Time & Materials – these are generally used for service contracts or any other type of work in which the client agrees to pay the contractor based upon the time spent to perform the work, and for materials/expenses incurred during the project.
  2. Flat rate – used when the client agrees to pay the contractor a lump sum for fulfillment of the project (no matter how much time is spent in order to deliver the project).
  3. Non-billable – for projects that you’re not going to bill (Eg. internal projects)

Types of projects in Paymo

When creating/editing a time & materials project, you can choose the rate that has priority. If the hourly rate for the selected option is not set, the system will use the next rate that has been set in this specific order: user rate, task rate, project rate, company rate.

A time & materials project can have three types of tasks (by billing type): time-based tasks, flat rate tasks and non-billable tasks. The time-based tasks are based upon time spent to perform the work, the flat rate tasks have a fixed price associated with them and non-billable tasks for activities that wonโ€™t be invoiced.

Accurate price estimates for your clients

You can set up task hourly rates, estimated hours and flat task rates by switching to the table view (click on the “Table view” icon in the top right corner of the tasks section for the project). Once they are set Paymo will calculate price estimates for each task and a total for the project (shown at the bottom of the screen).

Paymo project advanced view

In future updates we’ll be adding a feature that will allow you to convert the price estimate calculation into a shareable Paymo Estimate.

You can find out more about these features in our knowledge base or you can write your opinion in the comments section below.

35 Comments on Improved project billing, planning and price estimates

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Paschoal

You guys in my opinion are the best! I am very grateful and happy to use Paymo!

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Jens Martsch

I wanted to ask if such a feature would be added, and Whoomp! There it is!

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Erica

I messaged them on April 7th about this feature and they next day they came out with it!

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Laurentiu Bancu

Laurentiu Bancu

You were lucky Erica, we were working on it for some time ๐Ÿ™‚

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Paweล‚ Potoniec

Great update!

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William VILLERS @ TEN TECH LLC

Perfect! Thanks for listening to our needs, as always!

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Tina

I can no longer see my hourly rates. When I go to the Task tab in a Project and click “Advanced View,” I can add a column for hourly rate, but it’s not populated. I used to be able to set a specific hourly rate for each project on the Project Overview page. It doesn’t look like I can do that anymore. Can you please tell me where I can find/edit the hourly rate for a project now? Thanks!

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Laurentiu Bancu

Laurentiu Bancu

You need to set the billing priority for that project to “Project hourly rate”.

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Tina

Thanks for responding! All of my projects are set to Billing Priority – Use Hourly Rate — just like the screenshot at the top of this page. But I can no longer see where the actual hourly rate for each project is. I used to be able to see that (I have variable rates — full rate, non-profit, etc). I can see my Default Hourly Rate under my own business settings, but I can’t see the hourly rate for any of my clients nor can I see how to set it for new projects. For instance, let’s say my normal hourly rate is $100; so that is what is listed in my business settings. Then let’s say I want to add a project with a 20% non-profit discount, so I want o set the hourly rate to $80. I click to add New Project, I select Use Hourly Rate as my Billing Priority — but there is no place for me to enter the $80 rate. It used to be there, so I’m sure it just got moved — or maybe I’m being a doofus and looking in the wrong place. — Tina

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Laurentiu Bancu

Laurentiu Bancu

Hey Tina,

What you need to do is create a project (or edit existing project) and set billing priority to “project hourly rate”. A “project hourly rate” field will appear where you can set the desired rate.

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Tina

You finally got through to me! Thanks! ๐Ÿ™‚

KC

Is there a way to use a combination of T&M, Flat Rate, and non-billable in one project? We have big projects that have different scope items that require this. Thanks!

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Laurentiu Bancu

Laurentiu Bancu

Yes you can. You just need to choose a T&M project and set the tasks you don’t want to invoice to “non-billable”.

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Matthias

This is really great. In my opinion you are missing one small thing before I can say this is Perfect:

You say: “If the hourly rate for the selected option is not set, the system will use the next rate that has been set in this specific order: user rate, task rate, project rate, company rate. ”

I would add the option to have a “client rate” between the project rate and the company rate.
It happens a lot that we use different hourly rates based on the client.

Thanks.

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Laurentiu Bancu

Laurentiu Bancu

We don’t have a client rate yet but, we’ll take it into consideration in the future.

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Alison T.

I second this request!

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Larry Daniele

I agree with Matthias. We have one rate for non-profits and another for for-profit clients. Having a “per-client” rate would handle this well enough.

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Jennifer McMenemy

Thank you for delivering!! I am in constant need of this kind of pricing breakdown. Have been recommending your app to fellow freelancers.

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greg taylor

eta on gantt capabilities?

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Laurentiu Bancu

Laurentiu Bancu

We’re working on it, but I can’t commit to a date at this point.

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Andre

I’m with Greg on this.

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Steve

Another good feature – thanks. I look forward to trying it out.

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Antonio Pinto

Amazing work. You just keep improving!! Thank you!!

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Ilan Golan

Finally! So much wanted feature! Thank you!

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Darian J

This is an awesome update, guys! Love you!

Projects tags and filters are next, right? ๐Ÿ˜‰

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Patrick W

Perfect – this is exactly what I’ve been asking for!

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Michaela

Yes! Just what I’ve been missing. Well Done ๐Ÿ˜‰

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Alison

Great – I have a number of flat-rated projects. Am I missing something, though… I still want to track the time on the project so I can improve my estimating and the project I switched to use the flat rate now doesn’t show on my “hours used” report.

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Jan Lukacs

Jan Lukacs

Hi Alison,
can you please give us more details on what you’re trying to do via the in app help system? Not exactly sure what you mean by hours used report, flat rate projects allow you to track time and allocate a hours budget.

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Ankur Agarwal

Hi,

We as a team are great fan of your product and using this as our internal project management tool for all our clients’ projects and team & task management.

I would like your email notification start working in big way.
As my team work on the task and they update those into the system (PayMO account), immidiately an email should shoot-up to the project manager and other stakeholders who have subscribed that particular task / project.

and the stakeholders’ who are not the part of system (PayMO) should be allowed to add as subscribers to the task so that these people may start recieving emails as and when something new gets updated on PayMo by the users.

As people (internal user and external stakeholders of the project, who are not in PayMo) gets email notification, they may directly reply to that email and the email gets updated into the PayMo account as conversation. This is most wanted feature for project management, where we want to include our stakeholders, what is going on the project and it keep recorded into PayMo so everybody would be having better understanding whats going on and why we have taken particular decision inside the projects.

Like wise we keep get each users task status report daily / weekly and monthly and as aProject manager I could followup with my team-mets about the reason.

Could you help me out for these things….which I feel are very essential to handle real time projects with clients, stakeholders and teams with keep showing the updates.

Thanks & Regards,
Ankur Agarwal

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Jan Lukacs

Jan Lukacs

Hi Ankur,
we plan on allowing client collaboration within Paymo in future updates (can’t commit to a date though).

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Kirsty

Excellent idea – thanks!

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Ale

I’ve seen on the PaymoWidget beta for Mac once I add a new task is automatically created a non-billable task and there is no way to change it, I was wondering why I had so little billable time, and was that…

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Jan Lukacs

Jan Lukacs

Hi Alejandra,
the tasks created in the widget use the billable status of the project. If the project is billable all tasks created in the widget will be billable.
If you need further help please use the in app help system.

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Jacob Komar

Just to piggy back on Alison’s comments, we typically have fixed contracts but still track time for each hour to see if we are on budget etc… There is one big problem though. We typically invoice the fixed fee portion in bits as they are completed. For example, we issue an invoice for 30% completion, and 75% completion. But right now, the marked as invoiced is an all or nothing for the fixed fee projects. It would be nice if the software saw that I changed the invoice, and adjusted the “unpaid” portion accordingly.

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