![Interface detailing 'Capacity & Working days' and 'Rates' for an individual, showing checkboxes for workdays and fields for setting billable and cost rates.](https://cdn.prod.website-files.com/637f533d357967a5820f3f25/65b7ba3ac6051b3d499f6745_rates-capacity.png)
Enhance Profitability with Custom Cost Rates
![a selection menu for 'Projects and Hourly Rates' with six projects listed including 'Agency Task: The Digital Alchemy Project' and various Nike-related tasks.](https://cdn.prod.website-files.com/637f533d357967a5820f3f25/65ba0ce2bdd0d8d32fe0a72f_cost-rates.png)
Enter custom cost rates for your team, giving you the ultimate flexibility and accuracy in project costing. No more generic rates or rough estimates!
By assigning specific rates to individual team members or even entire workspaces, you can ensure that every hour logged is accounted for accurately.
Not only does this level of granularity provide a more detailed breakdown of costs, but it also opens up a world of possibilities for insightful reporting.
Want to know which projects are bringing in the most revenue? Curious about the profitability of certain clients? Timely's Cost Rates feature has got you covered.
So, buckle up and get ready to revolutionize your project management. Timely's Cost Rates feature give you the power to make informed decisions, maximize your profits, and leave your competitors in the dust.
It's time to take charge and unleash the true potential of your team!
![User setup interface indicating 'Employee' access level with the option to hide cost rate selected, and the capacity.](https://cdn.prod.website-files.com/637f533d357967a5820f3f25/65ba0ce2bdd0d8d32fe0a729_cost-rates2.png)
Optimize Project Management with Tailored Cost Rate
![Project dashboard for 'Video Production' showing total logged hours and earnings, percentage of budget spent, and a graph comparing planned versus logged hours over several months.](https://cdn.prod.website-files.com/637f533d357967a5820f3f25/65ba0888a7fd634eff7d1ba1_dashboard-view3.png)
With Timely, you have the power to set tailored cost rates for each team member or workspace, ensuring that your project costs align with reality.
Imagine the peace of mind that comes from knowing exactly how much each hour worked is worth – no more surprises or inflated costs.
You'll have a crystal-clear view of your project's financial health at all times.
Not only does Timely's Cost Rates feature streamline your project costing, but it also opens up a world of opportunities for smarter resource allocation.
By understanding the true cost of each team member's time, you can assign tasks strategically, making sure the right people are working on the right projects.
This optimization translates into increased productivity, happier clients, and ultimately, a healthier bottom line.
![Screenshot of a project management dashboard for the Digital Alchemy Project, showing tasks and invoice creation options.](https://cdn.prod.website-files.com/637f533d357967a5820f3f25/65ba0888a7fd634eff7d1ba8_timesheets.png)
![Analytics dashboard showing a bar graph of logged hours, both billed and unbilled, across several months, and a breakdown of hours, revenue, and planned work for individuals, with an user having the highest logged hours and revenue.](https://cdn.prod.website-files.com/637f533d357967a5820f3f25/65b9086140afe6446554224b_historical2.png)
Gone are the days of relying on generic rates or cumbersome manual calculations. Timely's Cost Rates feature puts the power of customization in your hands.
So, get ready to supercharge your project management, unlock new levels of efficiency, and watch your business soar to new heights!