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- Your rate is $133.33 per hour
- You work 0.5 hours
- Your billable cost is 133.33 * 0.5 = 66.665
- Projector rounds this up to $66.67
Full stopStop. Why did we choose to round at this point? Because accounting systems do not accept fractional pennies. Now going forward, Projector is calculating rates using this rounded number! Take a look at the equation below and you can see that we are now off by a penny from our original $133.33.
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Our first iteration of invoices always used back calculated rates. Our updated invoices use nominal rates. If you are a custom customer from before August 2017 then your templates use back calculated rates. If you are a customer after that date your templates use nominal rates. You can edit your templates to switch between the two methods.
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