Getting ready to track time
Time tracking XE "time tracking" is a recent adjunct to QuickBooks Pro. While most of QuickBooks deals with dollars, this feature counts hours. Here functions are provided to implement the old adage connecting time and money. You can collect employee time for payroll and/or for billing to customers. You can also collect time worked by a subcontracting vendor that will eventually be billed to a customer.
Recording time accumulation XE "time accumulation" was added with the QuickBooks Pro 5
XE "Timer:QuickBooks Pro 5" accessory program (January, 1997), which is discussed in the next chapter.
is a feeder for time tracking in the main program, which allows time accumulation on one or more separate computers. Time billing, without time accumulation, was introduced as part of the original QuickBooks Pro (3.1) in July, 1995, an unusual mid-year release, apparently to maintain market share.
is chosen on the Preferences
Menu, starting XE "preferences:time tracking" with a switch to turn it on.
QuickBooks Pro 4 and earlier versions use the dialog box shown. With this dialog box open, set the first
workday of your week, time always being collected as a slotting of days within weeks. Your choice of starting
with using Single Activity or
WeeklyTimesheet form when you first go to
RecordTime is then selected.
This time tracking preference is set for the company currently open, as indicated by the preference being
below the bar in the Preferences menu.
QuickBooks Pro 5 has a similar dialog box including the
Yes/No switch, and the choice of
First Day. Single Activity
or Weekly Timesheet
is selected each time you start recording time. As in QuickBooks
Pro 4, the Time Tracking preference is set for the company currently open.
Minutes or decimal hours can be selected (depending on version) under
Preferences| Data Entry.
If you plan to interface with Timer
(next chapter), tracking should use minutes.
That program records hours and minutes.
Each entry of time can be tailored to your needs by including some or all of the following entities:
Employee Employees XE "employee:time tracking" whose pay is on the basis of time, can have
payroll time entered here with provision of the appropriate payroll item. Employee hours that will subsequently
be billed to a customer, must also have the customer name and the appropriate service item. The employee
record must be set up for pay based on hours.
Vendor Vendor name is an alternative. Some businesses buy services by the hour and re-sell
them to customers. Vendor XE "vendor:time tracking" time is billable as service items on an invoice. The
pass-through expense billing function proceeds separately from time recording.
Customer:Job must be included in the XE "customer:job:time tracking" time entry if the work is to be
Service item is also needed for billable time. Only service items may be entered in this field.
Payroll item records the hours for employee pay. The hours will be brought into the paycheck at
the declared hourly rate. (You assumed that.) The separate
Timer program does not handle payroll items
. Time accumulated with Timer
must have the payroll item added when it is returned to QuickBooks.
Classes can be entered if the accounting plan includes their use.