As an administrator of your workspace, you can activate the hourly rate feature and thereby the evaluation of earnings and costs based on recorded time entries within the workspace.
Then you can define a currency that is valid for the entire workspace.
This currency is applied to all earnings and costs calculated based on the recorded times of the workspace users.
Likewise, you can define a flat hourly rate here to be applied to all times recorded as billable within the workspace.
This value will be used as a general hourly rate for all billable times in the workspace, unless otherwise defined individually at team member, project or project member level.
In the following, we will show you how to first enable the feature, and then set the flat hourly rate and currency for your workspace:
#01 Enable hourly rate feature
First, go to Settings via the navigation on the left side.
In the first tab, under Hourly rates, you will find a toggle that you activate by moving it from right to left.
#02 Set general hourly rate
Click in the Hourly rate input field and enter the amount that should apply across the board to all time entries recorded in the workspace that are posted as billable (e.g. "36,70" or "42,59").
Alternatively, instead of entering the numbers, you can use the arrow keys.
#03 Set currency for the workspace
Now click into the input field Currency on the right side and enter your preferred currency (e.g. "€", "EUR", "$" or "YEN") via your keyboard.
Finally, click Save Changes to save the settings you have made.
In our next article here you will learn how to set an individual flat hourly rate for a specific user from your workspace that overrides the general hourly rate for the workspace.