Timekeeping Policies and Procedures

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Timekeeping Policies and Procedures

The following are timekeeping elements that should be incorporated into a contractors polices and procedures.

  • Management Reviews
  • Employee Awareness Training
  • Timekeeping Access Control
    • Terminated Employees
    • Idle Workstations
  • Daily Recording Requirement
  • Ethics or Conduct Violation
  • Treatment of Overtime
  • Labor Cost Accounting - Overtime Premium
  • Labor Cost Accounting - Sensitive Labor Accounts
  • Labor Cost Accounting - Compliance with Contract Terms
  • Payroll Preparation and Payment
  • Labor Transfers and Adjustments
  • Suspense Accounts
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