The following step-by-step narrative illustrates the general ordering of the tasks that comprise the entering, editing, and posting of timesheets. Costpoint's Timesheet functions are independent from Costpoint Payroll, but can be closely interrelated with Costpoint Payroll. If you are not using Costpoint Payroll but are using Costpoint Leave to accrue leave, please refer to Special Topic LD-5, "Leave Processing: Step-by-Step." If you are using Costpoint Payroll, please refer to the Special Topic PR-2, "Processing the Payroll."
You must set up a timesheet cycle schedule in the Timesheet Periods screen and assign it to each employee in the Basic Employee Info screen in Costpoint Employee. Set the Open flag (in the Timesheet Periods screen) to "Y" for the cycle in which you are entering timesheets.
If your company uses only Costpoint Labor and Leave to enter timesheets and accrue leave for your employees:
Each timesheet period, before entering timesheets, add any new employee information to the following screens:
Basic Employee Info
Employee Leave
Salary Info and History
If applicable, you should also enter changes for current employees, such as:
Salary increases
Employee Leave
Basic Employee Info
Proceed to Step 3.
If your company uses Costpoint Labor in conjunction with Costpoint Payroll:
Because you are also using Costpoint Payroll, each pay period, before entering timesheets, you must enter any new employee information into the following Costpoint Employee screens in the order listed below. The Salary Info and History screen uses the Pay Cycle you used in the Employee Taxes screen to calculate the Salary information in the Salary Info and History screen. The Salary amount in the Salary Info and History screen is based on the Frequency (weekly, biweekly, semimonthly, monthly) set up for the Pay Cycle in the Pay Periods screen in Costpoint Payroll.
Basic Employee Info
Employee Taxes
Salary Info and History
Employee Deductions
Employee Contributions
Employee Leave
For current employees, enter changes such as:
Salary increases
Payroll taxes
Payroll deductions
Payroll contributions
Employee leave
Proceed to Step 3.
When you select the Default Ln pushbutton in the Enter Timesheets screen in Costpoint Labor, the defaults set up in the Basic Employee Info screen in Costpoint Employee will default onto the timesheet line.
When entering your timesheets in the Enter Timesheets screen, use the Batch subtask to enter control totals for regular hours, other hours, and total hours. The system also keeps a running total of hours and shows you any difference for each of the three categories.
Enter the General Ledger fiscal year, period, accounting period, and subperiod to which this timesheet should be posted. The timesheet date must be within the accounting period selected.
Enter the timesheet header information for the employees who worked during the timesheet period:
Timesheet Date - This can be any date within the timesheet period.
Timesheet Type
Seq No - The first timesheet will have a Seq No of "1." If you are processing more than one timesheet for the same timesheet date, increase the sequence number by 1 for each timesheet. You can have a sequence of up to "9" for one timesheet date.
Empl ID
The overtime state (OT State) defaults from the Salary Info and History screen, and you can change it if necessary. Also, you MUST enter information in the Reg field in the Hours group box. If an employee works overtime hours, record it in the Other field, and the system will calculate the Total hours worked. You will charge all hours on the timesheet line(s) to various General Ledger accounts for direct and indirect labor. When you are ready to enter hours on the actual timesheet line, select the New Line button on the toolbar and manually enter the accounts that appear on the actual timesheet itself. If you have set up a default timesheet line, this information will display. The previous timesheet line will always default to the next line.
You should review the Missing Timesheet Edit Report to ensure that all employees' timesheets were entered. (Employees who do not have "Regular" timesheets will show up on this report.)
If your company uses only Costpoint Labor to enter timesheets for your employees:
Review the Timesheet Edit Report by Employee for accuracy of input. You can make edits at this time if you have not processed or posted the timesheet. There is no need to add a new timesheet; using Query, you can bring up the original timesheet, make the necessary changes, and resave the timesheet.
If you posted the timesheets to the G/L, you can make necessary corrections by entering correction timesheets. See Special Topic LD-4, "Correction Timesheets," which discusses various types of correction timesheets. If you computed payroll but could not post the timesheets successfully, please call General Support.
Proceed to Step 7.
If your company uses Costpoint Labor in conjunction with Costpoint Payroll:
If you did not compute the timesheets for payroll or leave or post them to the G/L, you can make necessary corrections directly on the original timesheet. There is no need to add a new timesheet; using Query, you can bring up the original timesheet.
If you did compute the timesheets for payroll and leave, and/or post them to the G/L, you can make necessary corrections by entering correction timesheets. See the Special Topic LD-4, "Correction Timesheets," which discusses various types of correction timesheets.
Proceed to Step 6.
The Timesheet Edit Report by Account can be reviewed by project managers and department supervisors.
You can post the labor distribution to the G/L as often as desired. Because some companies distribute weekly job status reports, they can enter timesheets and post labor to the G/L on a weekly basis. You should post the labor at least as often as you compute billings, and you must post before closing the accounting period.
If you are using Costpoint Leave, you must post the labor distribution before printing paychecks or direct deposits. If you do not post the labor distribution, any leave taken for that pay period will not be reflected on the stub of the payroll check or direct deposit slip.
These management reports include labor category summary reports, individual employee labor summaries, and employee direct labor utilization reports. You can print these reports as often as needed. Each time you post the labor distribution to the G/L, subsequent reports will contain the updated data.