TimeLog Project covers the processes within the financial management
of projects. The glossary explains terms and concepts used in TimeLog Project.
In larger organisations internal invoicing is used as a management tool to manage cooperation across departments of business units.
The work is priced on a fixed hourly rate, e.g. the employee’s cost price plus incurred expenses. The employee’s cost price can be calculated by multiplying an employee’s salary with 1.5, and then dividing this with the employee’s normal work time.
When using internal invoicing in TimeLog Project the company itself is chosen as the customer.