Once you've created a project with Financials, you can modify its budget and rate cards if necessary.
To do so,
Navigate to Projects and select a project you wish to edit
Click on the gear-shaped icon on the top right corner of the page to edit the budgets and bill rates
Under Project Settings, select Budgets and rates
Click on the pencil icon near the Project budget and Budgeted hours to directly edit the fields
Click edit near bill rates, and the "edit bill rates" slider will appear
Select Choose a rate card radio button to select a pre-configured rate card from the dropdown
Choose the set manually radio button to edit the hourly bill rates for the team members allocated for the project
Make the necessary changes and click save
Select if the changes should apply going forward or from the start of the project.
1. You can change the billing type for projects (example - A fixed fee billing type can be changed to time and material)
2. You can edit only Project budget and Budgeted hours for fixed fee projects.
3. You can only edit Budgeted hours for non-billable projects