Details about the Contents of the Time Sheet Journal

This section provides further information regarding the contents of the time sheet journal.

• When posting time sheet journals, Maconomy checks whether the journal in question contains entries where the posting date is outside the open posting period for G/L entries in the companies affected by the time sheet lines. If the journal contains such entries, the G/L entries created as a result of the posting will be assigned a posting date corresponding to the first date in the open G/L posting period of the company in question. The job entries created are assigned the posting date specified in this window, as well as a reference date identical to the one used on the G/L entries.
• The cost and billing prices of the hours registered in the fields “Time Activity 1-3” are set at 0 in the time sheet journal. This is done to avoid double registration of hours entered in both weekday fields and time activity fields, as done in the case of overtime registration.
• Currency and job name are transferred automatically from the main tab of the affected jobs in the window Job Information. The posting description is taken from the field "Description" on the line in question.
• The cost and the billing price are calculated according to the principles outlined in Appendix A.
• Dimension values derived from the employee, activity, job, or company are transferred to the journal. When entering amount activities in the time sheet journal, Maconomy uses the company specified in the island Company on the activity as the executing company. If no company has been specified here, the employee's company will be used. If no employee has been specified, the company assigned to the job will be used as the executing company.
• If an employee has been working on a job which is to be invoiced by another company (the responsible company) than the one to which the employee is assigned (the executing company), the posting will in most cases result in intercompany entries between the two companies. Thus, a time sheet journal will be created for each company for which the employee has been working. At the posting of the journal, the intercompany entries are printed out with the normal journal entries.