Unlike the timesheets that are included with many project management systems, TimeControl is designed to serve both Project Management and Human Resources at the same time. Aside from project management needs, there are several aspects of the organization that will have a great interest in the timesheet data. Some of those departments are combined and usually all of them will fall within the Finance group.
This department focuses on employee attendance and participation in HR related tasks such as training. HR will usually manage statutory holidays, vacation approvals, sick leave and other benefits. Their interest in timesheet data is usually the exceptions. When did someone take the day off and was that associated to some bank of benefits to which the employee was entitled? HR may also manage time employees are expected to take for training, certifications, safety briefings and other compliance time. Data collected from the timesheet can be key for tracking this type of effort.
Well, of course everyone wants to get paid and for some organizations this means collecting timesheets with each hour identified. Payroll may have to collect timesheet data even if everyone is on a salary. There are many exceptions for which Payroll must be able to identify whether someone worked overtime, was absent or worked in conditions that would affect their pay (such as while travelling).
There are other Finance areas outside of the interests of which may also have an interest in timesheet data for such things as including Billing, labor costs for R&D tax claims, and labor cost of assets that will appear on the balance sheet for Sarbanes-Oxley compliance and more.
What do these departments need?
One thing that is common to all the areas above is the level of data quality and control that they required. Approvals for payroll will almost certainly be different and more stringent than the approvals for project management. We often explain that if the budget vs. actual for project management is off by a hundred dollars, no one will get excited. But, if someone’s paycheck is off by one single cent, they will feel compelled to complain. The level of attention to the data is different from the HR perspective.
The TimeControl.com site has an area with numerous resources of interest to HR and Payroll departments. These pages include webcasts, white papers slide shows and more. Here are a few links that may be of interest:
- TimeControl and Human Resources Use-Case page
- TimeControl White Paper Directory
- Creating your Approval Process in TimeControl
- TimeControl and Finance/ERP Integration Factsheet
If you need more help with determining how TimeControl can fulfill your HR and Payroll requirements, you can also contact HMS and we’ll set up a call with one of our implementation specalists. Just go to TimeControl.com/contact and let us know you want to talk about your HR/Payroll needs.