Hours spent

Work invoiced by time and material refers to projects that are settled using the number of registered work hours that the company has used on the project/task.

In addition to this various incurred expenses are added (travel, room and board, materials etc.). Time and material is the opposite of a fixed price project/task- here the price of work is stated from the beginning. Many consultancy services are settled using a mix of time and material settlement and fixed price settlements.

Time and material in TimeLog Project

When you create a project, allocate employees, and set out their hourly rates TimeLog Project’s default settings use time and material as the settlement method. Afterwards, the employee’s time is tracked on the project, and if necessary invoiced at the chosen hourly rate.

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