For a quick overview, check the Hourly rates video guide.
At Float, we are committed to providing you with tools that enhance your planning and estimation processes. One of them is hourly rates. With the flexibility to customize rates at different levels, you have the control to tailor billing to your specific needs.
The hierarchy for rate application is as follows:
Phase rate > Project rate > Person rate > Role rate
In other words:
- Role rate is a default.
- Person rate overwrites any role rate.
- Project rate overwrites any person rate.
- Phase rate overwrites any project rate.
📝Note: All of these rates are optional to input. You do not have to enter them all, you can enter one, or two, or three, or all kinds.
Role rate
Role rate is a default hourly rate that you can assign to a specific role within your team. This rate applies to all projects the team member is assigned to, unless a specific person, project, or phase rate is set up. Role rates can be set up by the Account Owner and users with Admin access rights in Team settings > Roles.
📝Note: Updates to Roles are tracked in the Activity feed.
Editing role rates
Role rates can be modified in Team settings > Roles. If the role rate is already assigned to people on your team, you will need to confirm the default hourly role rate change for all people it is assigned to.
Person rate
Person rate is a personal rate that is assigned to a specific person in the Info tab of their profile. This rate applies to all projects the team member is assigned to, unless a specific project or phase hourly rate is set up.
Hourly rates are also displayed in drop-downs when selecting team members for a project.
Project rate
Project rate is a rate that is assigned to a specific person in the Team tab of a specific project, that applies to that project only, unless a specific phase hourly rate is set up.
Phase rate
Phase rate is a rate that is assigned to a specific person in the Team tab of a specific project phase, that applies to that phase only.
Rate visibility
Rate visibility depends on access rights. The Account Owner and all the Admins can see and edit role rates. Project Managers can be granted access individually to rate information by checking the View everyone's rates and their project budgets permission box in the Access tab of their profile.
