The Fixed price budget type in the Simple Budget Editor offers three billable rates similar to those in the Time and Materials budget type.

However, it's important to note that Fixed budget types are structured for fixed invoicing amounts. This means you won't invoice based on logged time but rather a pre-set fixed amount.

Billable Rates

In the fixed price budget type, you can choose from the following billable rates:

Person hourly rate
Service hourly rate
Fixed hourly rate
No hourly rate

For more information on each, check out the paragraphs below.

Person Hourly Rate

This option allows the hourly rate to be specific to the person working on the service in the budget.

If you choose this option, the hourly rate will apply to the person you have selected for that service, with a set tracking restriction (meaning only the selected person will be able to log hours for the said service).

Service Hourly Rate

This option allows the hourly rate to be specific to the service itself in the budget.

When you choose this option, the hourly rate will apply to the service you have selected in the budget, regardless of the person working on it.

📌 Select Show Custom Service Name to manually enter the service name, and Show Description to quickly describe the service for better organization.

Fixed Hourly Rate

This option allows the same hourly rate to be applied to all services within the selected budget.

When you choose this option, the set hourly rate will apply to all services within the budget, regardless of the specific person or service.

In this scenario, you will see all three available options for the Budget dropdown:

Budget per service lets you set the budget or invoicing amount for each service
Budget per person sets it for the person working on the service
Total price per budget sets the overall invoicing or budget sum. We'll cover these in the following section of this article.

Tracking Budget Progress

After selecting your preferred billable rate for the budget, choose how to track the budget usage.

Total Price per Budget

Opting for the Total Price per Budget setting will create a Budget service line item in your budget.

📌 This line item acts as a cumulative, lump sum, budget, with deducted amounts representing the logged time or expenses as you use your budget.

📌 Note that you cannot track time against the lump sum service line ("Budget"), only against the individual services you've added!

Budget per Service

Select this option to define the budget for individual services within the budget. By defining these budgets, you are effectively defining the total amount you plan on invoicing your client.

Budget per Person

Select this option to define the budget for individual people assigned to the services within the budget.

By defining these budgets, you are effectively defining the total amount you plan on invoicing your client.

Budget Fees

You can manually enter the total budget amount in the Budget Fees field if you chose the Total Price per Budget option in the previous step.

Otherwise, if you previously selected the Budget per Service or Budget per Person, the budget total will be calculated as the sum of the budgets you allocated for the service or person.

Disabling Booking and Time Tracking for Services

You can enable or disable time tracking and bookings for each service in your budget. To toggle these options, click the clock icon when editing the service.