If you’re a government contractor, don’t worry about Defense Contract Audit Agency compliance. Standard Time® has you covered. ST follows all the rules of DCAA. With just a few clicks your timesheet can be set up to become DCAA compliant.
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Here are just some things you should consider:
Employees must have their own login id
Employees can only enter time for themselves, not for other employees
Time should only be entered on the day it occurred, not past or future
Notes are required for any changes to past entries
Timesheets must be submitted and approved by a manager
Make invoices your own with Standard Time®. Put your company logo, company style in every invoice sent out to clients.
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Invoice templates in ST at simple RTF documents. That means you can edit them any way you like. Open them in your favorite word processor and go to work! Add your logo, motto, corporate colors and style. Add anything you like. When you’re done, save it in the Invoices\Templates folder. Now you use it in ST.
Place these tags in your document to serve as placeholders for data.
[INV_NUM]
Invoice number
[INV_SUBTOTAL]
Total, before taxes
[INV_TOTAL]
Total, after taxes
[INV_TAX_RATE]
Percentage of tax on goods and services
[INV_TAX]
Total taxes
[INV_DATE]
Date the invoice was produced
[INV_PO]
Purchase order number
[INV_TERMS]
NET30, or other payment terms
[INV_DUE]
Due date
[INV_REP]
Representative
[INV_PROJECT]
The project this invoice was billed against
[INV_SUBSYSTEM]
The subsystem this invoice was billed against
[INV_USER]
The user the time and expenses belonged to
[INV_NOTE]
Note to display on the invoice
[INV_STARTDATE]
Starting date range for time and expenses
[INV_ENDDATE]
Ending date for time and expense records
[INV_TASK_DETAIL]
A pre-built block that describes all the time logs
[INV_EXPENSE_DETAIL]
Pre-built block of expense records
[INV_TAXID]
Federal tax id of the consulting firm
[INV_ADDRESS]
Address of consulting firm
[INV_CLIENT]
Client name and address, displayed anywhere you like
Clients can buy blocks of support time from their vendors. Project tasks can be set up in Standard Time® to follow the time used in support. When the time runs out a new contract is then negotiated.
If you’re a manufacturer using Standard Time® for your time tracking needs, it is significant to your business. You can affix barcodes to the products that will be manufactured and be able to follow it in every aspect of production. Know how long the assembly took to produce and also know which employee was working on it.
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Scan a barcode on each item during manufacturing, and you will get the following information:
Standard Time® allows a project manager to keep track of how much money the company is making on a project. Each time an engineer enters his time it will accumulate and have an earned value for that project.
Scroll down for the video. Plus, here’s another page that describes earned value using ‘actual work’ and ‘percent complete’. After going to this page, scroll down below it for a detailed description.
MS Project schedules without ‘Actual Work’ from employees are dead. They are little more than a list of tasks, and soon become out of date because employees complete some or portions of them, and the schedule doesn’t reflect that input.
You need a timesheet to supply those employee hours.
Take a look at this video. It describes the issue and suggest a possible solution.
A spreadsheet looks really inviting; free! If you have a small business with a few employees and don’t have to send any invoices, then it probably is OK. But multiple projects, many employees and different billing rates for them all is when you need a professional timesheet.
All true…
But here are some reasons spreadsheet are not the best tool for tracking client hours.
You can easily make the mistake of entering hours into the wrong employee.
Same with the wrong project
Same with the wrong client
You can’t sync with a neato time tracking app like Standard Time®.
You can’t easily share the spreadsheet on the web without collisions.
You don’t get any email notifications when things are wrong.
You don’t get any real project status.
So… that free timesheet may be costing you more than you think.