Allocate Labor Costs
Understand your business better by allocating hours worked to programs, cost centers, profit centers, and more.
Account for every hour spent
Allocate Work HoursMany businesses need to allocate labor costs to individual cost or profit centers. Using time tracking with ClickTime, you can report on work hours with granularity. Whether your team’s time is assigned to manage workloads, projects, tasks, or clients, you can easily allocate employee costs to the correct spot.
Gain financial transparency
Real-time Allocation EstimatesClickTime estimates the hourly cost rate of each of your employees. Our time tracking system will use these estimates to show you the ongoing cost of your work in progress. This way, you’ll be able to predict in-flight labor expenditures before they hit the books.
Find the exact reports you need
Allocation in PercentagesDo you need to know what percentage of an employee’s time is spent on a project? With ClickTime’s’ Business Intelligence & Analytics tool, you can pull the exact allocation reports you need. Use these reports alongside your payroll platform to calculate the real cost of your initiatives.
Leverage Custom Integrations
Create bespoke workflowsAs your organization grows, you can achieve greater efficiencies by connecting time tracking systems to HRIS, Payroll, and ERP systems of record. ClickTime’s Professional Services Team has decades of experience building custom solutions. We support a variety of workflows that automate allocations from our platform to your accounting system of record.
When tracked time data reaches accounting, you can rest assured that your official system of record will is accurate.
With ClickTime, you can pull reports in the format required by your HRIS, Payroll, and ERP systems. Whether you need reports in .pdf, .xls, or .csv formats, you can easily export data to meet the required specifications.
Understand the true cost of your initiatives and hold your team accountable. That way, you can make proactive, cost-effective decisions based on data.
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FAQs
Yes. ClickTime has turnkey integrations for a variety of applications, as well as a robust API that can be used to connect your timesheet data with your accounting software. You can automatically transfer your people, projects, and tasks, the hours worked, and each entry’s billable or non-billable status.
ClickTime supports methods of allocating employee costs for hourly and salaried workers. Allocations can be programmed at hourly rates, or can alternatively be set for a whole timesheet and distributed across time worked in that given period. That way, salaried employees can have a set “cost per timesheet,” rather than a fixed hourly rate. Then, ClickTime evenly distributes the cost per timesheet across all hours worked in the given period.
A cost center is a role or department that costs the business money but does not generate revenue on its own.
The process for assigning costs to the different business departments, products, or services that benefit from those costs.
Cost allocation gives you a detailed overview of how your business expenses are used, assists in staff evaluation, and helps leaders assess the performance of different departments.