ITM vs WrkPlan Timesheets

Advanced “Project Management” features in SAP Business One. The Timesheet is a feature that enhances the Project Management functionalities in SAP Business One, it is not limited to time recording only, but also resources and cost management: - Worktime registration per project, stage, and task (Billable, Unbillable, and breaks) - Resources assignment on project, stage, and task - Cost setup on both project and resource level. - The possibility to define the time budget per project, stage, and task. - Advanced wizard to generate invoices, orders and deliveries based of approved billable hours per customer or project. - Advanced reports such as budget and progress reports.

Timesheet – Recording: •Timekeeping issues account for the majority of audit findings by the DCAA. Failure to meet DCAA requirements can result in delayed payment and refusal of future contract awards. •DCAA requires documentation showing that all hours worked for all employees (direct and indirect) are recorded. DCAA Compliance Requires: • Daily recording of time by job assignment. • An audit trail for any and all changes to timesheets. • Supervisor review and approval of all time charges.