Is there a way that a contractor can enter time using different rate than their normal hourly rate?

typically a contractor is in business for themselves and should be tracking their time, then they bill you and you pay the bill.  that separation of business functions is important especially in an audit, so they should not be entering time in your company account, that is used for your business activity.

but, time sheets work on items, one item one rate, so if you need another rate, create and use a different item

QBO allows you to allow contractors AND/OR employees to enter their own hours but not their hourly rate. You are still in charge of how much is paid (and of course verifying that the hours they enter are indeed correct)

@danielleiera

Contractors can enter time only. You tell them what service item code to use, that will have an hourly rate that you can invoice to your customers. This is how the screen will look on their end when they enter the time (see below).

You will still need to enter separately for Contractors billing (for time charges) in QBO.

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