Every new year provides an opportunity for a review of the past year, and preparation for the year ahead.
For TimeLog Project, some areas may need adjustment going into 2011.
- Should hourly rates and travel rates be regulated?
- Is the company’s holiday calendar updated, so that the flex and vacation calculations add up?
- Should the flex calculation be adjusted and international employees have their balances reconciled?
- Should new general projects be set up for internal work in the business?
TimeLog Project works with two types of hourly rates:
Hourly rates - used for invoicing of employees' time registrations on individual customer projects.
TimeLog operates with standard hourly rates and customer-specific hourly rates that must be individually updated.
Cost indicates the expenditure incurred by the employee for each hour registered.
All hourly rates (Hourly & Cost) are regulated by the System Administrator in System Administration, under the title Finance/Invoicing. The individual employee setup is automatically updated.
Please be aware that all changes are live as soon as “Update” is clicked, and will be used for any following time registrations. It may therefore be necessary to wait to change the hourly rates until after January 1, and use the management reportAdjust Hourly Rates to update allocated hours and any registered hours afterwards.
It would also be a good idea to close the entire 2010 financial year for time registration under System Administration -> Accounting Period . This locks every week’s time registrations for 2010, and it will no longer be possible to change or add new time registrations. This will allow 2010 to be settled without various projects' finances being affected for 2011.
New mileage rates for employees’ driven kilometers are created in System Administration – Mileage Rates .
If a different mileage rate is to be used when invoicing clients, External Mileage Rates must be activated under Travel Expenses in System Administration -> Settings .
See user guide Configuration of Mileage Rates.
TimeLog’s System Administrator must ensure that next year’s holiday calendar(s) are updated with the upcoming year’s public holidays and possible company holidays.
An updated holiday calendar ensures that flex time and holiday calculations are estimated correctly.
See user guide Editing Public Holiday Calendars.
Flex and Holiday Calculations
Many businesses operate with a maximum number of hours that may be transferred to the next period, and will therefore need to adjust the actual salary codes.
Employees working in international offices may use different public holiday calendars, and might need to add their earned holiday to the upcoming year.
Use the management report Holiday/Flex/Absence Administration for these adjustments.
See user guide Resetting and Adjusting the Employee Salary Code Balance.
Most businesses use general projects to register work for internal tasks.
If these existing projects will not continue in the new year, new projects can easily be created based on old projects, without having to create new tasks and allocate employees.
Choose New Project in Project Administration, and choose the existing project from the menu in the upper right-hand corner. If the allocated employees and their allocations should be included, tick the appropriate fields prior to set up.
By making these adjustments, you’ll have a smooth start to the new year with TimeLog Project.