How GovCons can track time and expenses without wasting hours

Tracking time and expenses is a must for government contractors but it often feels more complicated than it should be. Missed details, delays, and unorganized systems can cause problems. The good news is, by following DCAA-compliant time tracking processes and other best practices, you can stay organized and avoid these headaches. 

Here’s how to simplify the way you track your teams’ time.  

Write clear instructions for time tracking 

Start by creating simple, clear rules for how time is logged. Every employee should know how to report their hours, manage absences, and log overtime. Train your team regularly so everyone understands what’s required.  

Having a user-friendly, intuitive-to-use timekeeping software is a good first step. Easy entry systems  such as mobile or email lead to more buy-in from your staff. In addition, creating flexible rules for overtime, vacation, and project tasks as an admin can make it remarkably simple for employees to avoid mistakes as they enter time at the end of the day. 

Make it a habit for employees to update their hours daily, not later. Real-time recording corrects all details and prevents mistakes from piling up. 

Approve timesheets with care 

Every timesheet needs a careful review. Employees should confirm their hours are accurate before submitting them.  

A supervisor must then approve the timesheet to finalize it. This process leads to accountability on both sides. Reminders for submission deadlines can make managing approvals faster and smoother. 

Keep precise records 

Accurate records are the foundation of compliance. Timesheets should show each employee’s name, the dates worked, and the project or task assigned. These records need to be saved for at least three years, making them accessible if an audit comes up. 

Plan for changes, too. Make sure your system tracks every adjustment to timesheets. Record who made the change, when it was done, and the reason behind it. This provides a clear history for audits and reviews. 

Track on the go with mobile apps 

For teams working remotely or in the field, submitting time and expenses can feel inconvenient. Time tracking software that offers a mobile app makes this process far easier. With a quick photo of a receipt or a few taps for hours worked, entries are logged and done in real-time. 

This approach minimizes forgotten details and misplaced documents, ensuring your records are complete and accurate without extra effort. 

Assign work hours to the right project 

Labor costs need to be tied to the correct project. This step, called labor distribution, allows your resources to be accounted for properly. Regular reports can help you track costs and confirm everything is where it should be. 

Ensure your timekeeping software integrates with your project management tools 

You want to be sure all your data is accurate, reliable, and aligned – even across systems. With project integration capabilities, you unify your time tracking with your project management and project accounting.  

Prepare for audits early 

Government contracts often come with audits, so it’s smart to always be ready. Make sure your time tracking process includes organized records, clear audit trails, and well-documented approvals. Regularly check your system for gaps and fix any issues before an audit becomes a problem. 

Make tracking simple 

With the right process and software system in place, tracking time and expenses doesn’t have to be a hassle. Taking this approach lets you focus less on the administrative matter of tracking time and more on critical strategic work, knowing your records are accurate and your system is running efficiently. 

Small adjustments now can save time and stress later. Start making changes today to keep your work running smoothly and on track. 

Looking to make business easy while freeing up more time to do the work that matters? Learn how Unanet can help.  Schedule a demo today.