What are billing models and why should I use them?

Each job has a number of variables that impact the bottom line: time it takes to complete a job, billable/internal hourly rates, and other additional expenses. Utilizing the billing models are a fantastic way to understand your profitability, including identifying bottlenecks or other opportunities for efficiency.

Understanding the Different Billing Types

Before we can dive into how to utilize billing models, we'll start with understanding the four (4) different billing types Jetpack Workflow has. They are staff hourly, service hourly, fixed rates, and complimentary.

Billing Model Type	Defintion	Example Use Case
Staff Hourly	Uses individual billable and internal hourly rates based on the employee assigned to the job or task.	An employee assigned to a job auditing a company's tax documents charges by the hour. The person who is performing the work has a billable hourly rate of $50/hour and their internal rate is $20/hour.
Service Hourly	The charge for a specific amount per hour, regardless of which team member is performing the service.	A client with a small business requires a consultation. You bill the same rate for this service no matter who is providing the consultation - this is viewed by your company as an easier billing model.
Fixed Rate	Simple flat rate for a job.	A client requires payroll processing for their mid-sized company. You charge a simple flat rate of $500/month.
Complimentary	Complimentary is a "free" service provided to a client.	A local food bank needs assistance with their taxes and you provide this service for free.

Remember, each billing model has the option to add in an additional charge, which allows you to estimate additional costs or expenses you'd like to add.

Adding Internal & Billable Hours for Team Members

In order to take advantage of these the staff hourly option, you'll need to ensure your team members have their internal (their pay rate) and billable amounts entered. Make sure their information is added under their profile which can be found under Manage My Team.

Assigning a Billing Model to a Job

New Jobs

To add a billing model to an new job or template, click the drop down menu under Billing model type, then choose the appropriate option. Don't forget to add in any additional budget amount that's relevant to the job.

Existing Jobs

To add or update a billing model on an existing job, click on the job, then click Billing Model, then update accordingly. Remember to follow the steps to update your repeating series if this job is on a repeating schedule!

Viewing this Data in Reports

Now that you're knowledgeable in billing models, you can view the data in some of our reports. To learn more about the metrics report, see our help desk article here.