Welcome to the Community, @hosanna-fox.
Let's update your time tracking settings so you can charge your clients and projects at different hourly rates.
After turning on the feature, let's record the hourly rates of your clients and projects. Let me guide you how:
Here's an article for your reference: How to Enter Billable Time by Job.
Fill me in if you have any other questions with QuickBooks Online. I'll be around to help.
It would perhaps be more useful to be able to have a setting to allow a charging rate for a specific customer, it would remove the possibility of making mistakes when entering each single time activity.
That would be a useful feature especially if you have a lot of customers billed on different rates. I'll pass along your feedback to our product development team. On the other hand, I'm inviting you to visit the QuickBooks Blog for the latest updates about QuickBooks.
If you have other questions in mind, you can always visit us back in the Community.
Have a good day!
Hello there, mphx2. Thanks for joining the thread.
I understand how the workflow you're looking for would be beneficial to your business. Though our Feedback Board has been closed, I can pass another request here on my end.
For the time being, you can visit our blog and register to our Newsletter. This way, you’ll receive email updates about what new changes and features, and hopefully your suggestion would be one of them.
If you have follow up questions concerning your QuickBooks Online account, please keep me posted. I am more than happy to further help.
I am blown away that the rate has to be entered for EVERY single time entry? Even if you know your rates for every customer, how could you not possibly make one mistake when entering all your time over a full month? The lack of this single feature, really makes time tracking completely unusable.
Ye me too. I looked up how to save different hourly rates for different clients - bearing in mind I am charging people for doing their accounts... through an accounts package?? New clients get a short-term discounted rate. Some clients' work is mote involved than others so I charge them more per hour. I use T Sheets to log in and out and keep track of how much work I have done each month for each client. It's really quick to check and Approve hours for each month and import these straight into the invoice... but then have to EVERY time, look up a handwritten note of how much each client is charged EVERY month. This is bonkers! Surely it should be possible to also enter the rate to auto-populate?
POSSIBLE SOLUTION -
I created different product / service items, each with a different billing rate, e.g., "Hourly (2020)" for my standard hourly rate in 2020 and "Hourly (2021)" for my standard hourly rate going into 2021.
Now, instead of ideally setting rates per client in QuickBooks, I select the proper "Hourly" product / service when creating time entries in the Tsheet app. That allows the two systems to automatically pre-populate the time entries in QuickBooks with the corresponding rates when I upload the time entries in QuickBooks.
It's a little cumbersome to create different "Hourly" products / services, but now I no longer have to add different rates for each time entry manually.
A HUGE IMPROVEMENT, MUCH MORE EFFICIENT. I wish I had found online guidance more clearly suggesting such an approach.
I pay my employee one rate and charge my customer that rate plus O&P. I don't show that I'm adding O&P just want to charge the client the higher rate and pay the employee the other. How do I do this in QuickBooks Desktop?
Hello there, @Meg geisler.
I'd be glad to help you how to enter the hours worked by your employee for a specific customer and add a markup cost with it.
You can enter a Billable time in the Invoice transaction that you're going to send to your customer. Before that, you'll need to create a new service item to set the amount of the service rendered per hour. Then, create a timesheet, and enter the number of hours worked for the specific project or customer.
Once done, you can create an invoice and select the Enter Time/ Cost button. Check the service done accordingly and select OK. I've added some screenshots for additional reference:
To know more details about the process, you can check out this article: Tracking job costs in QuickBooks Desktop.
I've also included this article about the different kinds of reports you can use to get a better understanding of your business's financial status: Track your cash flow in QuickBooks Desktop.
If you have any other questions, please let me know in the comment section below. I'd be happy to lend a hand.