How to manage your time sheets

If you are an existing contractor then you will proberly already know about timesheets, but if you are just starting out you need to know how these work, for it's an important part of the contractor business. This guide explains how the process works if you are using a recruitment agency or if you are a direct contractor.

Timesheets

There are a variety of Contractor assignments available, a high number of these require a timesheet to be used by the Contractor.

Most Recruitment agencies will provide timesheets for you to complete at the end of each week which are to be signed by yourself and your line manager. Remember: Never start an assignment without a timesheet.

In some instances you may also be required to clock in and out as well as sign off a time-sheet, our advice is that you ALWAYS follow the clients procedure it will save a lot of time and negotiation if your hours are not recorded correctly.

If you are paid per hour then you will typically enter the number of hours worked each day, normally excluding tea breaks and lunch breaks or If you are paid at a daily rate you would normally not need to track the hours and just enter the number of days worked each week. Always check this out with both your recruitment agency and client.

Some timesheets have three parts, others two.  Read which counterfoil you need to keep, or submit to the agency. I've always recommended taking a quick photocopy of a timesheet before submitting it, or sending via email.

The biggest problem with timesheets

- Client forgets to sign it off before submitting the timesheet
- Contractor forgets to endorse it before submitting the timesheet 
- Hours add up incorrectly to the total.
- Wrong dates and times
- No timeseheet submitted!

Overtime
If you make a claim for overtime, it is important to show this clearly on the timesheet, since  this is also a fairly significant problem that arises with discrepancies realting to payments.

If you are working through your own limited company, and you are using your own timesheets you should make sure that this also includes

- Expenses
- food expenses
- Travel costs
- Materials 

if they are applicable to your contract of course.

Invoices
After getting your timesheet signed you will need to arrange for an invoice to be created and sent to the client.

Invoices to your agency should show the following information:

1. Company name.
2. Full postal address of company and telephone number.
3. Invoice date.
4. Invoice number
5. Due date for payment. (MAKE THIS VERY CLEAR) 
6. Charge period.
7. Number of hours / days being charged.
8. Rate per hour or per day (as per your legal contract).
9. The total value of time charged.
10. Expenses chargeable to the agency or client. 
11. Total net value of invoice for GST (time charges and expenses).
12. The amount of GST charged at the standard rate of 12.5%.
13. Total invoice value including GST.
14. The company number if the company is GST registered.
15. Terms of payment.