The Time Study module provides an extremely simple, centrally controlled process for recording the time spent by an employee for each activity. This powerful management tool for cost allocation and forecasting prevents time study errors, instantaneously reconciles time studies with time sheets, produces daily, weekly, monthly and quarterly reports for each program and unit and ensures correct coding reflecting each working minute.
Supervisors play a key role in a successful time study process. Time Study relieves them of reviewing time studies for accurate activity coding and calculation accuracy. The real time reports inform supervisors of employees who are not utilizing appropriate codes or not recording activities for the entire working day, every day.
No more discovering at the end of a reporting period that the coding used by employees was wrong, or that the reporting covers only a portion of the time worked.
Because time study begins the cost allocation process, it drives the claim. Time Study prevents allocation over the limit spending by enabling real time accurate reimbursement and expenditures monitoring, forecasting and planning for all allocations regardless of their size. It aids in maximizing reimbursements and preventing loss of revenue.
Important features include:
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Quarterly allocation adjustments and activity code additions and terminations are simple and easy to track, and even easier to pass on to employees for immediate utilization changes.
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Automated allocations of supervisor’s time proportionally to time of their staff
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Prorating of time for employees reporting one month during a reporting quarter
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Only activity codes appropriate for the program and employee classification, and applicable to their assignments are available to employees.
In summary, Time Study helps entire departments to operate in a fiscally responsible manner and provides real time information for program decision making to the administration.