At actiTIME, we had a dream to create a piece of software that could cover the essential business needs and scale according to the size of the business — from freelancers to enterprises. These needs usually include time tracking, project management, accounting, leave management, and more.
Today, actiTIME is more than just a time tracker — it’s a handy project management tool with leave management, paid-time-off and salary calculations, dozens of reports, billing, accounting, and more. Overtime management is one of the key features that most of our corporate clients rely on. In this article, we’ll give you a sneak peek at how you can manage overtime with actiTIME.
Overtime Calculations in actiTIME
In actiTIME, overtime is time reported in excess of a standard working day, on public holidays, or weekends. In other words, if you define the length of the standard workweek according to the country laws or company regulations, the exceeding time is considered overtime.
actiTIME offers corporate and individual overtime settings. There you choose if you want to calculate overtime automatically, display it to users in their timesheets, allow them to enter overtime manually or disable the feature. Use summary reports to bring up a list of your employees eligible for overtime pay.
In case your company policy allows for banked hours, you can turn overtime hours into paid-time-off hours. To do that, you can run a monthly overtime user report and manually add these amounts to the current PTO balance.
To automate salaries and cost of work calculations, you can define the overtime pay rate as a regular user rate coefficient. Once you set up the regular rate and the overtime rate, you can run reports and review not only overtime amounts but also the corresponding payrolls.
Overtime Reports in actiTIME
In actiTIME, regular users can use the View My Time Track interface to review scheduled time according to the amount of the working hours for this month and compare it against the actually logged time. Overtime is displayed in the number of hours and as a chart with daily breakdowns. This data is available for download as a PDF file.
In actiTIME, you can also review time balances and overtime values for the selected date range with Time Balance & Overtime report. Managers can see information about their team members, while regular users see their personal data only. You can create this report in HTML, export it into a CSV or PDF document.
You can also use overtime calculations when building the Cost of Work reports. If you include overtime hours and costs, they will affect the total amount of hours and costs for the selected customers or projects.
Automate Overtime Calculations with actiTIME
actiTIME is more than just a time tracker. Among many other features, it allows you to define overtime rates and automate your overtime calculations. Use your time tracking logs, overtime, and leave time data to review your team members’ workload, build Cost of Work reports, and manage PTO balances to compensate overtime hours to your employees. For smart PTO and leave management, consider actiPLANS integration. In case you are not sure if actiTIME is a good fit for your business, start a free 30-day trial or request a live product demo.
Originally published at https://www.actitime.com.