While todo.vu has traditionally supported billing time according to hourly rates, our newest update supports billing for work at a flat rate, independent of time spent.
Now, with fixed-price projects, you can bill solely based on fixed charges added to projects. You can still use todo.vu to track your time spent on these projects, but this time is captured without billing values attached and is therefore used for reporting purposes only.
Read on to learn more.
Why use fixed-price projects
todo.vu’s fixed-price projects feature gives you greater flexibility when it comes to billing clients. Now, as well as time-based billing, you can choose to bill at flat rates, which can offer:
- streamlined invoicing with fewer time-based billing entries to review and process.
- increased client satisfaction as fixed prices minimizes unexpected costs.
- better budget control as you can set clear expectations with clients from the outset.
- Improved cash flow as fixed prices provide stable and predictable income.
How to use fixed-price projects
With fixed-price projects, you can add one or more custom fixed charges to a todo.vu project, and you will bill your client for this project according to these charges only.
You can continue to track time on tasks belonging to the project, however, these time entries will automatically adopt a billing rate of $0.
When it’s time to bill for your work, you can simply create a billing report based on your project’s fixed charges, and choose whether or not to show that project’s time tracking data.
Because we bill per client in todo.vu, you can include both fixed-price and time billing charges within one billing report.
A published billing report that includes fixed-price project ‘Release 5.9’ with time tracking data (8h 5m) displayed above its associated fixed charges, and (non fixed-price) project ‘Widget creation’ with time-based billing data and charges.
To accommodate this new feature, each project’s billing settings area has changed to include the option to enable fixed-price billing on that project, as well as new ‘Charges’ and ‘Time’ sections, where users can add fixed charges or bill time to that project.
This now sits above the existing ‘Time billing rates’ section, where users can set project user billing rates.
To learn more about using fixed-price projects in todo.vu, check out our comprehensive Help article: Fixed-price projects.
Let us know
We’re here to help you enjoy and make the most of our latest update to todo.vu.
As always, the best way to learn these new features is to start trying them out yourself in todo.vu. If at any time you encounter issues or have questions or feedback, please contact us and we’ll respond to you quickly.