Billable

This flag is used to indicate whether this project is billable or not.  The billable attribute will affect the results of reports that contain bill rate information.  If the Billable setting is No, the Bill Amount or Actual Labor field on these reports would show $0.00 even though there are some hours charged to the Project/Task.  

The rates that show on the reports are actually calculated and stored during timesheet entry.  It is at that point that the billable flag is interpreted.  Making subsequent changes to this indicator will only affect new time entries (i.e. it will not alter any previously entered time).