What is the difference between Internal Hourly Rate, Charge Out Hourly Rate, and Total Hourly Cost?

The Internal Hourly Rate refers to the amount your employee is paid per hour, Charge Out Hourly Rate is the amount you charge your clients for one hour of the employee’s work, and the Total Hourly Cost is the total cost of employment to you (Internal Hourly Rate + any overheads). These rates are used to calculate the financial status of projects, as well as in various reports.