PTTimesheet

PTTimesheet is an on-line timesheet/timekeeping service for small business. The service has been offered by PrimeThread, Inc. since 2004. PTTimesheet is compliant with Defense Contractor Audit Agency (DCAA) regulations for tracking time and attendance. PTTimesheet is intended specifically for companies that have contracts with the United States (US) government but works well as a timesheet for any business.

Business Timekeeping

To accurately track labor costs, companies must maintain records of the amount of hours that each employee works on each task. For small businesses, this is commonly done using a paper timesheet that is filled out by the employee each week and given to the company accountant for entry into the company's accounting system. The main drawbacks with paper timesheets are: 1) all data must be entered into the company's accounting system by hand and 2) timesheets for remote employees must be mailed, scanned, or faxed to their accountant. PTTimesheet overcomes both of those issues. It is web-based so all employees can enter their time through a standard web browser regardless of their location. Since all data entered is stored electronically, the data can be more easily transferred from PTTimesheet to the company's accounting system.

Most small businesses do not have the resources (cost or skills) to keep an IT person on staff or to purchase/maintain complex computer equipment. Payment for the PTTimesheet service is handled on a subscription bases so there are no large costs for software or hardware purchases by the customer.

DCAA Requirements

All businesses that perform work for the US government must abide by the DCAA regulations for time and attendance. Those regulations assure that the businesses perform the amount of work being paid for by the government. PTTimesheet is DCAA compliant. This means that employees are required to log into PTTimesheet as proof that the employee is indeed the person making the entry. Once logged in, PTTimesheet lets the employee enter charges to only those jobs that they are authorized to work on rather than any job in the system. All changes to the employee timesheet are tracked by PTTimesheet. At the end of the pay period, both the employee and manager sign off the timesheet. PTTimesheet keeps all charge data available for up to 3 years.

Accounting System Compatibility

Small businesses use accounting systems to track income and expenses. Timekeeping data is entered into those systems and combined with hourly rates to calculate employee pay and customer invoicing. There are many good small business accounting systems available (for example Quickbooks, Peachtree). If nothing else, a spreadsheet can be used such as Microsoft Excel. PTTimesheet is a timesheet only and complements accounting systems rather than duplicating their functionality. Data from PTTimesheet can be exported in comma or tab delimited text format, which can be imported directly into most accounting systems or spreadsheets. A special utility is provided by PrimeThread to allow PTTimesheet data to be imported into Quickbooks.