# Set up cost rates

Set rates in **Settings → Organization → Cost rates**. Changing them needs the **Financial data** permission, which only Administrator holds by default. [Open in Teamhood](https://app.teamhood.com/go/settings/cost-rates)

## Set a rate

1. Select one or more rows: the organization default, teams or people.
2. Select **Change rate**.
3. Enter the **Hourly rate**, choose **From the start** or **From a day**, then select **Save**.

- By default, a row's first rate starts **From the start**, and a change to an existing rate starts today.
- Each row gets a new entry from that date. Earlier entries stay.
- One undo reverts the whole change.

To correct one entry, expand the row's history, then select **Edit** or **Delete** in the entry's menu.

## Remove a rate

1. Select one or more rows, then select **Change rate**.
2. Select **Remove rate**.

Every entry of those rows is deleted. Their hours, including hours already logged, then use the next rate in line. One undo brings the entries back.

## Check and copy the rates

**Needs attention** lists people whose hours may be priced wrongly. **Export** and **Import** copy the rates as a CSV file.

## Give team members a rate of their own

1. In the menu of a team with a rate of its own, select **Copy rate to members**.
2. Check the names, then select **Copy rate**.

One undo removes the whole copy. [How budgets and cost are calculated](../../how-it-works/budgets-and-cost/) explains why a rate of their own keeps their past cost fixed.

Deleted people and teams are not listed or exported.

## Next

- [How budgets and cost are calculated](../../how-it-works/budgets-and-cost/)
- [Roles and permissions](../../roles-and-access/roles-and-permissions/)