With Rocketlane, you can easily manage your projects while staying within budget and reaching your revenue goals. Our software simplifies the billing process, whether you bill by time and material, fixed fee, or non-billable projects, all while streamlining your billing process for maximum efficiency.

Time and Material: Time and Material billing involves tracking and charging clients based on actual hours worked. It offers flexibility for projects with evolving requirements, enabling accurate billing for the resources invested. Clients are billed for the hours worked by the team.

Read more on Time and Material financial calculations here

Fixed Fee: Fixed Fee billing entails setting a predetermined price for a project, regardless of the time and resources involved. This billing type provides cost predictability for clients, who pay a fixed amount for the entire project. It allows businesses to manage their budget and clearly understand the project's financial scope.

Read more on revenue recognition for Fixed-fee projects here

Subscription: With Rocketlane's subscription billing, you can easily manage projects with monthly, quarterly, or yearly recurring fixed budgets and budgeted hours.

Key advantages of this billing method include Predictable Revenue which the fixed subscription period ensures a consistent and reliable revenue stream, and Optimized Operational Efficiency which clearly defined timeframes for purchased hours streamline projects and processes, benefiting both service providers and clients alike.

Read more on revenue recognition for Subscription projects here

Non-billable: Non billable activities pertain to tasks or work that are not invoiced directly to clients. These activities are mostly internal or administrative, such as team meetings, research, or training. Keeping track of non-billable time assists businesses in comprehending resource allocation and project costs, even if those particular activities are not directly charged to clients.