Total time accounting (TTA) ensures government contracts are accurately charged. Kronos Workforce AutoTime™ helps satisfy TTA accounting requirements.
Total time accounting prevents the government and manufacturers from being overcharged and protects manufacturers from fines, judgments against them, and criminal charges, as well as losing government contracts because of a failed Defense Contract Audit Agency (DCAA) audit. Manufacturers also can use TTA to balance payroll with contract work.
To help organizations meet total time accounting obligations, Kronos Workforce AutoTime:
- Adjusts employee wage rates through built-in TTA calculations and shows total time worked
- Creates detailed transaction records with allocated costs
- Exports allocated cost data to labor systems
- Allows historical editing of previous pay periods to correct jobs, hours, etc., and update wage rates
- Reduces the need for additional export/import processes for TTA
- Decreases administrative overhead with calculations made in the solution
Download this informative piece to see scenarios that illustrate how Kronos Workforce AutoTime calculates employee time for direct labor and indirect labor according to total time accounting rules to adjust the effective rates.