Labor Time Tracking Software Features

For companies that self-perform work, tracking labor timecards on a daily or weekly basis is crucial to keeping projects in line with budgets. Corecon’s construction job cost software provides Architects, Engineers, and Contractors (AEC) the ability to add labor timecards in numerous ways: an administrator can enter time for multiple employees, employees can enter their own time remotely, or timecards can be imported from Microsoft Excel.

How is Corecon’s timecard system different than most accounting packages?

Most accounting software systems are generic in nature and are not targeted for a particular vertical market. For example, some accounting systems do not have a timecard system at all or do not require a project, contract, and job cost code when entering timecards. These are all required fields for Corecon!

In addition, many accounting systems lack the ability to track workmen's compensation. In Corecon, codes can be setup with default burden rates or percentages. When referenced on timecards, they can add to the overall labor burden cost. When a firm's insurance policy is up for renewal, reports can be generated using these codes in summary or detail format, providing management with up to date information.

Many architects, engineers, and contractors have cost plus contracts. In these cases, firms need a system to track on their timecards project specific bill rates and billable status (billable/unbillable/on hold). In order to prepare the monthly invoice for these types of contracts, work in progress (WIP) reports are available to gain an accurate picture on what is available to be billed.

Corecon also provides dashboards for complete project oversight. Included are labor productivity analysis tools to project in the future any savings or cost over-runs by job cost code. It uses three sets of data (estimated hour budgets, actual timecards, and percent complete) to make these projections.

How do Corecon timecards get transferred to the accounting system?

Corecon provides CoreconLink utilities for specific accounting applications to transfer project financials. If the accounting system has a time tracking module (i.e. QuickBooks), Corecon timecards are then sent to the system for payroll processing. For those accounting packages that do not have a timecard module, Corecon labor reports are typically generated and sent to the payroll company directly.