How to Setup and Use QuickBooks Timesheets?
Are you struggling to manage time tracking for your small business with salaried and hourly employees? In today’s fast-paced digital world, traditional time cards simply don’t cut it anymore. Enter QuickBooks Timesheets – your one-stop solution for efficient employee time tracking, seamless payroll operations, and fair compensation. In this blog, we’ll walk you through the benefits of this innovative software, from customizable time card templates to accurate job-specific tracking. Say goodbye to payroll difficulties and embrace the future of time management with the Timesheets feature of QuickBooks. Let’s start!
What are QuickBooks Timesheets?
QuickBooks Timesheets is a built-in feature in QuickBooks that enables employees to record their working hours, facilitating accurate and efficient payroll processing. Users can customize the fields, create billable hours, and integrate them with QuickBooks Payroll. The Timesheets feature allows for mobile access, real-time updates, and automated alerts to supervisors about incomplete or missed entries. Additionally, it offers reporting tools that enable managers to track employee productivity and project costs. QuickBooks Timesheets can help businesses of any size manage their workforce efficiently and reduce the risk of manual errors in time tracking and payroll processing.
What are the Benefits QuickBooks Timesheets Provide?
The Timesheets QuickBooks comes with various benefits, making time tracking small business employees easy. It comes with the following benefits:
- Streamline payroll processes with accurate time tracking, reducing errors and ensuring timely employee compensation.
- Enhance project management by monitoring hours spent on specific tasks, boosting productivity and resource allocation.
- Simplify invoicing with precise billable hours, improving client relationships and facilitating prompt payment collection.
- Access insightful reports for informed decision-making, optimizing workforce efficiency, and identifying areas for improvement.
- Benefit from seamless integration with QuickBooks accounting software, consolidating financial data for streamlined business operations.
- Customize time card templates to suit your business requirements, providing tailored solutions for diverse industries.
- Foster fair compensation practices, boosting employee satisfaction and cultivating a positive work environment.
- Reduce administrative burdens, allowing you and your team to focus on core business tasks and drive growth.
- Optimize remote workforce management by tracking hours and tasks, ensuring transparency and accountability in virtual teams.
After learning about the benefits, let’s know how to enable and use it.
How to Setup QuickBooks Timesheets?
Setting up the Timesheet for QuickBooks includes three parts which we are following. Setting up your timesheet will also enable it automatically; you don’t need to enable it in further steps. Now follow the given steps:
Step 1: In QuickBooks, Set up the Timesheet and Time Entry
1. Setup QuickBooks Desktop for time tracking
- Firstly, launch QuickBooks Desktop and sign in as an Administrator.
- Secondly, click “Edit” in the menu bar, then select “Preferences” from the drop-down menu.
- In the Preferences window, you have to click “Time & Expenses”.
- Then, navigate to the “Company Preferences” tab.
- After that, check the “Yes” option beside “Do you track time?” to enable time tracking.
- Next, choose your preferred time tracking settings, including the work week’s first day and time format.
- If desired, check the “Mark all time entries as billable” box to mark all tracked time as billable automatically.
- For more customization, enable “Use time data to create paychecks” if you want to use tracked hours for payroll processing.
- Finally, click “OK” to save your settings and exit the Preferences window.
2. If you are operating QuickBooks Timesheets for Job Costing
- First, go to “Customers” on the menu bar, select “Customer Center,” and add projects or jobs as sub-items under the appropriate customer.
- Then, activate job costing preferences by clicking “Edit” on the menu bar and choosing “Preferences”.
- Afterward, select “Jobs & Estimates” from the left-hand panel, and configure settings in the “Company Preferences” tab.
- In “Preferences,” click “Time & Expenses” in the left-hand panel, navigate to the “Company Preferences” tab, and check “Yes” beside “Do you track time?”.
3. Set up employees for time tracking
- First, click “Employees” in the menu bar and select “Employee Center.”
- If you need to add a new employee, click the “New Employee” button at the top left of the Employee Center. Double-click their name in the list if you’re setting up time tracking for an existing employee.
- In the “Edit Employee” window.
- Go to the “Payroll Info” tab.
- After that, ensure that the employee has an appropriate payroll item (such as “Hourly” or “Salary”) and an associated pay rate.
- If you want to track time for the employee against specific customers or jobs, click on the “Payroll Info” tab and then click on the “Use time data to create paychecks” checkbox.
- Lastly, click “OK” to save your changes and close the “Edit Employee” window.
After QuickBooks Timesheets login, its time to create with the following steps:
Step 2: Create QuickBooks Timesheets
Creating QuickBooks Timesheets for employees or contractors can help you track time spent on tasks, manage payroll, and ensure accurate billing. Follow these steps to create timesheets in QuickBooks:
- Launch QuickBooks and sign in to your company file.
- Click “Employees” in the menu bar, and then choose “Enter Time” from the drop-down menu.
- Select “Use Weekly Timesheet” or “Time/Enter Single Activity”.
1. For Use Weekly Timesheet
- Select the employee or contractor from the “Name” drop-down menu.
- Choose the week you want to enter the hours by clicking on the small calendar icon next to “Week Of.”
- For each day, enter the hours worked under the appropriate column (regular, overtime, etc.), and assign a specific customer, job, or service item if needed.
- Click “Save & Close” to save the timesheet.
2. For Time/Enter Single Activity
- Choose the date for the time entry using the small calendar icon next to “Date.”
- Select the employee or contractor from the “Name” drop-down menu.
- Enter the hours worked and assign a specific customer, job, or service item if needed.
- Click “Save & Close”.
3. Creating Paychecks
- Click “Employees”> “Pay Employees” and select the appropriate payroll schedule.
- Confirm pay period and check dates, then select employees for payroll.
- Review and edit paycheck details for each employee, ensuring timesheet data is accurately reflected.
- Click “Continue,” review the payroll summary, and click “Create Paychecks.”
4. For Creating Invoices
- Click “Customers”> “Create Invoices.”
- Choose the customer using the “Customer: Job” drop-down menu.
- Click “Add Time/Costs,” select billable time entries, and click “OK.”
- Customize the invoice, adjusting descriptions, rates, and charges as needed.
- Click “Save & Close”.
Step 3: Print a Blank QuickBooks Timesheet
To print a blank timesheet in QuickBooks, follow these steps:
- Launch QuickBooks and open your company file.
- Click on “Employees” in the menu bar.
- Choose “Enter Time” from the drop-down menu.
- Select “Use Weekly Timesheet.”
- Clear any existing data by selecting the employee’s name from the “Name” drop-down menu and deleting any hours entered.
- Click on “Print” at the top of the “Weekly Timesheet” window.
- Choose your desired printer in the “Print” dialogue box and click “Print” to print the blank timesheet.
QuickBooks Timesheets is an invaluable tool that streamlines time tracking, payroll processing, and billing for businesses. Companies can efficiently manage their workforce by adopting this feature, ensuring accurate compensation and invoicing. QuickBooks Timesheets simplify these processes and enhance overall business productivity and financial accuracy. Embracing this powerful functionality will undoubtedly benefit your organization’s financial management and promote success in the long run. However, if you want to know more about timesheets then our ProAdvisors are here to help you. Contact them and get the information. Thank You!
- Can I customize the fields in QuickBooks Timesheets?
- Yes, you can customize the fields in QuickBooks Timesheets to match your business needs. You can add or remove fields, change field labels, and rearrange the order of fields.
- Can automatic reminders be set up for employees to submit their timesheets?
- Yes, you can set up automatic reminders for employees to submit their timesheets. This helps ensure that timesheets are submitted on time and reduces the risk of payroll errors.
- How do QuickBooks Timesheets integrate with QuickBooks Payroll?
- QuickBooks Timesheets integrates seamlessly with QuickBooks Payroll, allowing you to calculate payroll based on employee time tracking in Timesheets easily.
- Can I track vacation and sick time using QuickBooks Timesheets?
- Yes, you can track vacation and sick time using QuickBooks Timesheets. This allows you to track and manage employee leave time accurately.
- Is it possible to restrict access to QuickBooks Timesheets for certain employees?
- Yes, you can restrict access to QuickBooks Timesheets for certain employees by assigning them a user role with limited permissions. This helps ensure that sensitive employee data is kept secure.