Time Sheets
Definition
Timesheets are the documented collection of time worked in a pre-defined period – most often a week, and most typically, by day. Time is the most used unit of measure for both paying employees and billing clients. Timesheets are the basis of staffing transactions.
In an online world, a timesheet is an electronic representation of reported time, whether time is entered online or through a mobile or onsite device, whether the time is recorded in hours per day, punch in/punch out, or simply hours per week.
Features
A few clients continue to use paper timesheets and spreadsheets for timesheet data entry, calculation, and approval. But these time-consuming methods add labor cost and permit inaccuracies in calculation and pay.
Just some of the many amazing features that you can get through 3B Onboarding are:
● Time capture – hourly, daily, weekly or punch time reported by workers – hours by projects, by tasks and activities.
● Electronic Storage – auditable, retrievable reference of time worked and associated approvals.
● Rules – based Interpretation and enforcement – machine calculation of hours based on time entered. Machine application of sets of rules established for example by government, client, union, or company policy to calculate overtime, double time, break time, or any formula defined within the 3B time interpretation rules engine.
● Intelligent Analytics –advanced reports and visualized dashboards with graphic display of spent time, projects, resources, and costs to make and proactively support management decisions and forecasting.
● Second-tier contractors – 3B provides support for managing timesheets from subcontractors and contractors. Recording timesheets, uploading them to the system, and invoicing them is equally easy.
● Greater transparency – achieved through GPS monitoring and real-time sync to the cloud, timesheet data, project progress, and any other critical client or company specific defined metrics.
● On top of their mind – 3B’s timesheet solution comes packed with options for reminders and notifications to streamline time tracking, approvals, and payroll with preset reminders and notifications. If a worker has forgotten to submit their timesheet within the required time frame, they will continue receiving notifications until it is submitted.
Summary
3B Electronic timesheet management facilitates accurate, timely data entry and a rules engine to categorize, pay and bill accurately within regulatory frameworks. With preset parameters for validation, and fully configurable approval, the pay and bill process is simplified, automated where possible, and less prone to mistakes.