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Research and Development Time Tracking

Many organizations have financial obligations to track efforts spent on Research and Development for accounting purposes. Many jurisdictions have some tax rebate or government support for work which fits a particular definition of research and development.

In all of these cases there is a requirement to identify work which conforms to the R&D definition from work which does not. An enterprise timesheet which can support this level of detail is often not only suggested it is sometimes mandated. TimeControl's extensive coding structure allows R&D time to be tracked as a natural part of timesheet entry.

The flexible coding of TimeControl allows us to define R&D work at both the project and the task level. End users are often not required to know the accounting definitions of what is eligible or not eligible. These codes can be entered as part of the project definition and not manipulated by the end users. In other cases, it is only once the work starts that the employee identifies it as R&D eligible. In this case, the timesheet level codes can be used to highlight work which now meets the definition.

Since the number of codes managed per project or per task is unlimited, TimeControl can be configured to manage multiple types of accounting tracking independently. For example, actual costs can be tracked distinctly from capitalized costs, from R&D costs and from project costs and tracked down to the employee and task level. Reports can include R&D vs. non-R&D costs and any level of detail required.

Once timesheet data has been collected, it can be reported on or transferred directly to both the finance systems required and the project management system. Audit trails ensure the data is always acceptable for auditing purposes.

Webcasts:

TimeControl and R&D Tax Credits
We have experience with the use of TimeControl not only within Canada but all over the world. This presentation talks about how TimeControl is effective as a tool to document your R&D tax credits.

Factsheets:

TimeControl 5 brochure
This is a general overview of TimeControl's capabilities in a 4-page brochure.

TimeControl and ERP
A brief overview of how TimeControl can be linked to both your ERP/Finance system and a project management system.

TimeControl Value Propositions
A point-by-point view of how TimeControl can provide benefits to your organization from 6 different perspectives.

Case studies/Testimonials

Lockerbie and Hole
Watching the Clock at Standard Life

White Papers:

Matrix Approval Process for Labor Actuals
This white paper describes how HMS Software's Matrix Approval Process for Labor Actuals™ allows approvals by both project managers and line supervisors of the timesheet data before it is transferred to the Finance and project systems.

TimeControl Executive Briefing

This paper is targeted at executives who have responsiblity for the entire enterprise. Managing a project-oriented corporate environment is no small challenge and TimeControl can serve a crucial role in automating that environment. This paper will address some of the issues that executives face and how to address them.

Benefits/Cost Guide to Using TimeControl
Since 1994, hundreds of firms, both large and small, have adopted TimeControl and are realizing the benefits of standardizing on a corporate timesheet system with this level of functionality. Over the next few pages you'll see how TimeControl has benefited these clients and how it might apply to your organization.

Screen Shots:

Screenshot collection
See our collection of TimeControl screenshots illustrating all aspects of functionality

For more information:

Contact us:
Complete a Request for information to have one of our representatives contact you to discuss how TimeControl has assisted other companies in their R&D Tax credit needs.