The Billing Mode is used to specify how Labor Revenues (Billable Amount values) are managed. Three different modes are available:
Fixed Price – It is expected that all the Billable Amount values will be entered manually by the Project Managers.
Time & Material – The Revenues (aka Billable Amount) are calculated according to the following equation: Total Effort * Revenue Rate.
Hybrid – The Project combines both of the previous options, and the Project Managers are expected to set the Billing Mode at the Task level.
Note
If the Billing Mode is set to “None”, then the tabs, sections, and fields dedicated to the Billing feature will not be displayed throughout the whole system.