Time and Labor Management with Job Costing
Posted in Time and Attendance - Solutions
Gain better control over your business by knowing, at any time, where your labor hours and dollars are being spent and if those hours/dollars are running under budget with Time Spot's time and attendance software. Job Costing is a powerful workforce management tool that goes beyond mere reporting to empower managers at any level with actionable information when it is needed most - at the point of decision. Job Costing provides managers with the insight they need to make workforce performance improvement decisions.
With Job Costing you can:
- Empower your managers with the insight into actual labor performance, allowing them to make valuable workforce management decisions
- Align workforce performance with corporate revenue, cost, and profitability objectives
- Improve workforce productivity while reducing your total payroll costs
- The Heart of Your Business - Automated - Accurate - Timely
Time Spot’s innovative Job/Labor Cost & Validation software enables you to accurately track and attribute time and labor costs by up to fifteen levels of detail.
These additional levels allow for a more in-depth breakdown of cost information.
Know exactly how much time was spent in all areas of your operation. Recorded hours can be broken down by, employee, shift, department, job, step, operation, task and sorted in any order you request. Hours can further be broken down by regular time and up to three levels of overtime.
Employee & Department Wages:
In addition to employee tracking and reporting hours spent within these areas wage or labor rates may also be applied to allow accurate recording of labor costs incurred. Actual employee wages or preset rates (including overhead) can be used.
Keep track of quantities produced, accepted and rejected, and the labor associated with producing them. With accuracy and ease, employees can enter quantities produced, accepted and rejected as they are performing the work. The quantity report will show how much time, by department, employee, job, step, etc. was expended to produce a particular quantity.
Track Piece Rate:
Used in conjunction with quantities, piece rate enables you to multiply a particular quantity by its assigned rate. A gross piece rate can then be reported by department, employee, job, step, etc.
Budgeting & Forecasting:
Immediately see if you are on schedule for the completion of any project. Forecasting takes into consideration the hours worked and dollars spent to date, along with the scheduled hours still to work, to come up with forecasted totals for any department, job, step, operation and task in the system. Forecasting can tell you if you will be over or under budget prior to the completion of a job. This allows you to adjust schedules to meet future requirements and avoid overpaying employees. You can enter budgetary numbers for both hours and dollars. These budgetary factors can be applied to each function within your business. Budgetary reports such as an Actual vs. Scheduled vs. Budgeted, report on the comparisons.
Eliminate key stroke errors, increase job costing accuracy, and validate data entry through one of four formats: Visual only, Table validation, Visual and Table, Visual and Table with description. Download valid jobs, employees, levels, steps, and more to the time-clock. These items can be verified by the time-clock at the time of entry appropriately rejecting bad entries and accepting valid entries while optionally displaying the particular item’s name.
Learn more about how Time Spot's data collection methods and other time clock solutions that work with our Time and Attendance Job Costing.