Audience
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Admin
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Controller
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Project Manager
Objective
This article explains how to update the selling rate and cost rate for team members on a project and recalculate all uninvoiced (open) timesheets to reflect the new rates — in a single operation. Use this when a rate correction or rate increase is needed mid-project, after some hours have already been invoiced.
Prerequisites
You must have Admin, Controller, or Project Manager access with full financial access in PSOhub. The project must have at least one Time & Materials (T&M) contract line with hours booked.Some hours must remain uninvoiced. Already-invoiced time entries are not affected by the recalculation.Steps
Step 1: Review the Current Contract and Hours
- Open the project in PSOhub.
- Click the Financials tab and select the Contract sub-tab. Review the current Amount, Used, and Invoiced values to understand which hours have already been billed.
- Click the Hours tab to see the full list of time entries with their current Selling Rate and Cost Rate.
Step 2: Update the Team Member Rates
4. Click the Team tab.
5. Click the team member whose rate you want to update. The Member dialog opens.
6. Update the Selling Rate and/or Cost Rate as needed.
7. Click Save.
8. Repeat steps 5–7 for each team member requiring a rate change.
Step 3: Trigger the Recalculation
9. Click the Financials tab and ensure the Contract sub-tab is active.
10. Click the ⋮ (three-dot) menu in the top-right corner of the Financials panel. The following options appear:
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Import template
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Convert to template
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Copy Project
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Share Project
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Update deal value in CRM
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Increase rates & recalculate
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Click Increase rates & recalculate. The Increase rates for [project name] dialog opens with the following fields:
| Field | Description |
|---|---|
| Increase Selling Rate by % | Enter a percentage to increase the selling rate across all team members on this project. Set to 0.00% if you only want to recalculate timesheets without a rate increase. |
| Increase Cost Rate by % | Enter a percentage to increase the cost rate. Set to 0.00% if no cost rate increase is needed. |
| Recalculate open timesheets after updating rates | Check this box to apply the updated rates to all uninvoiced time entries. Leave unchecked to update rates only without recalculating existing timesheets. |
The dialog also displays a table confirming the project(s) that will be affected.
12. Enter the percentage increase for Selling Rate and/or Cost Rate, or leave both at 0.00% if you only need to recalculate timesheets with the rates already updated in Step 2.
13. Ensure the Recalculate open timesheets after updating rates checkbox is checked.
14. Click Confirm & Increase rates.
📌 Note: If both percentage fields are set to 0.00%, a Confirmation dialog appears asking: "No rate increase has been set, are you sure this is correct?" Click Confirm to proceed.
15. A second Confirmation dialog appears summarizing the changes: the selling and cost rate percentages that will be applied, and confirming that outstanding timesheets will also be updated. Click Confirm.
16. An Information dialog appears: "The selected projects are being updated in the background. You will receive an email once all projects have been updated." Click OK.
Step 4: Verify the Updated Rates
17. Refresh the page.
18. Click the Hours tab to review the updated time entries. The uninvoiced time entries now display the updated selling rate. Previously invoiced entries remain unchanged.
Result
All uninvoiced timesheets on the project are updated with the new rates. The project's financial totals in the Contract tab reflect the recalculated values. You will receive a confirmation email once the background update is complete.
⚠️ Important: This action cannot be undone. Already-invoiced time entries are not affected. Verify the Hours tab after the update to confirm the recalculation is correct before proceeding to invoicing.
Next Steps
✅ Approve the updated hours
If your organization requires timesheet approval, submit the recalculated hours for project manager and/or team lead approval before invoicing.
How to approve timesheets in PSOhub
✅ Increase rates for specific projects
Apply a percentage-based rate increase across one or more projects without recalculating timesheets.
How to increase rates for specific projects in PSOhub