Feature
Track the work—even when the project price is fixed.
A fixed price changes how you invoice, not whether you should understand the work. Hoursmith tracks delivery time internally while the invoice uses the project’s reconciled contract value rather than an hourly rate.
Plans: Free · Studio · Agency
Free for solo freelancers · No credit card required
At a glance
| Project model | Fixed-fee with a contract amount and optional prior-invoiced reconciliation |
|---|---|
| Time policy | Delivery time is tracked but forced non-billable by time |
| Invoice allocation | Allocate all or part of the available fixed fee |
| Draft safety | Drafts reserve allocations so contract value is not selected twice |
| Expenses | Billable project expenses remain separate invoice sources |
What's in it
Delivery effort remains visible
Run timers and log time against fixed-fee tasks exactly as you would on hourly work. The entries inform delivery and project reporting without becoming hourly invoice charges.
Reconcile work that started elsewhere
For an existing contract, record the original fee and the amount already invoiced before Hoursmith. The remaining balance becomes the safe starting point.
Partial allocation when the contract calls for it
Invoice the full available balance or a smaller amount for a milestone. The remaining fee stays available for the next draft.
Reservation prevents double selection
A draft reserves its fixed-fee allocation. Another draft cannot claim the same contract value while that reservation exists.
Expenses stay explicit
Billable travel, software, or production costs can be added separately with receipts instead of being hidden inside the fixed project line.
Historical invoices remain immutable
Once sent, the fixed-fee allocation and project snapshot stay locked even if the live project amount or client details later change.
How it works
- 01
1. Create a fixed-fee project
Set the client and contract amount; reconcile any prior billed value if the project predates Hoursmith.
- 02
2. Track tasks and time
Use the board, list, timers, and manual entries. The work stays non-billable by time.
- 03
3. Allocate the contract value
Choose all or part of the available fixed fee in the invoice builder and add any billable expenses.
- 04
4. Send and lock
Sending freezes the allocated amount and supporting invoice snapshot; the remaining fee continues on the live project.
What Hoursmith is not
Hoursmith does not provide estimates, proposals, contracts, milestone automation, retainers, recurring invoices, or a full accounting ledger.
Common questions
Do I still track time on a fixed-fee project?
Yes. Time shows delivery effort and supports reporting, but it is forced non-billable by time.
Can I invoice only part of the fixed fee?
Yes. Allocate a partial amount and leave the remaining reconciled balance for a later invoice.
Can two drafts allocate the same fixed-fee balance?
No. Draft reservations and server/database guards prevent the same contract value from being allocated twice.
Related
Try it free, in two minutes.
Create an account, set up your first client, and log an hour. The invoice will already be on the way to building itself.
Free for solo freelancers · No credit card · Cancel any time