Cost rates represent what work costs your organization. Billing rates represent what your organization charges a client. MindSalt selects both rates when a time entry is saved and uses the stored values in budgets, reports, and invoices.

How rates are applied #

When a time entry is saved, MindSalt searches for a cost rate and a billing rate. It checks each source in the order shown below and stops as soon as it finds a matching rate.

Cost rate order #

1. The employee's rate for the selected client
2. The employee's general rate
3. $0.00 when neither employee rate is available

For example, an employee may have a general cost rate of $25.00 per hour and a client-specific cost rate of $30.00 per hour. Work for that client uses $30.00; other work uses $25.00.

Billing rate order #

1. The employee's billing rate for the project assignment
2. The billing rate for the project task
3. The project's billing rate
4. The employee's billing rate for the selected client
5. The employee's general billing rate
6. $0.00 when no billing rate is available

For example, an employee may normally bill at $90.00 per hour but have a $100.00 billing rate on one project assignment. Time entered for that project uses $100.00; work without a more specific assignment, task, project, or client rate falls back to the employee's general billing rate.

Effective dates #

Employee rates can include an effective date. This lets you record a future rate change without changing the rate used for earlier entries. MindSalt uses the rate that is in effect on the time-entry date.

Why existing entries do not change automatically #

MindSalt stores a copy of the cost rate, billing rate, and billable status on a time entry when it is saved. Changing a rate later affects new entries, but it does not automatically recalculate entries that are already saved.

If a saved entry has the wrong value, update that entry with Cost & Billing Corrections or the time Find and Replace tool. Confirm the correct rate and affected dates before changing historical data.

Correct cost and billing on saved time entries #

Browse to Admin Timesheets Cost & Billing Corrections.

When timesheet approvals are enabled, this tool finds submitted or approved time. When approvals are disabled, it finds time in locked periods.

1. Open Admin, Timesheets, then Timesheet Cost & Billing Corrections.
2. Select an employee.
3. Enter a date.
4. Choose Charge Date to find entries recorded on that date, or Timesheet Date to search the entire timesheet period containing that date.
5. Select Continue.
6. Select the time entry you need to change.
7. Update Is Time Billable?, Cost Rate, or Billing Rate.
8. Select Save.

Correct billing and reimbursement on saved expense items #

Browse to Admin Expenses Cost & Billing Corrections.

When expense approvals are enabled, this tool finds submitted or approved reports. When approvals are disabled, it finds reports in locked periods.

1. Open Admin, Expenses, then Expense Report Cost & Billing Corrections.
2. Select an employee.
3. Enter a date.
4. Choose Report Date to find reports with that report date, or Item Date to find reports containing an item on that date.
5. Select Continue.
6. Select the expense report, then select the expense item you need to change.
7. Update Reimbursable?, Billable?, or Bill Amount.
8. Select Save.

Update several time entries with Find and Replace #

Browse to Admin Timesheets Find & Replace Time.

Use time Find and Replace when the same correction applies to several time entries. It can update cost rates, billing rates, and billable status along with other selected time data. Review the matched entries and every selected replacement field before confirming the change.

Related articles #

• Configure employee cost and billing rates
• Create and manage projects
• Add time for multiple employees