Time & Materials
Time and Materials (T&M) billing definition. Learn how to bill hourly with material markups for construction service work.
Calculation Formula
T&M Invoice = (Hours × Hourly Rate) + (Material Cost × Markup %) Real Contractor Example
An electrician repairs a circuit. They spend 3 hours at $95/hr and use $80 in parts with a 20% markup.
Put This Into Practice
Knowing the definition is step one. RemodelFin tracks this in real time on every job — no spreadsheets.