What is the difference between overtime and extra time?

Overtime is applied to employees who have worked beyond their assigned hours. The OT is calculated based on your company's preferences using the Overtime Calculator and is non-billable. In contrast, Extra time is the time worked beyond the specified contract Amount. This is billable, but it's not deducted from the contract amount when a project is evaluated as over or under budget, unless specified in the billing schedule. It is in addition to the contract amount. Time entered and flagged as 'Extra' creates an exception to the Automatic Evaluation rule. When marked as 'Extra,' the billable value is not evaluated against the project's contract amount.