Available in Sage 50 Premium Accounting and higher.
Sage 50 Accounting provides a convenient way for you to keep track of the time your employees spend on various tasks, for both billable and non-billable activities. For services you perform for your customers, you can create sales invoices based on the number of hours spent on an activity. If you are using projects, you can allocate the time or amounts on the time slips to one or more projects.
If you are working with Sage 50 Quantum Accounting, you can track your contractors' time using time slips, and add these time slip activities to your sales and purchase invoices.
Before you can create time slips, you must add service activities and set up employees. Once you have created all your service activities, recording time spent on activities is a two step process:
After recording time in the Time Slips window, you can pay your employee based on the information recorded on time slips.
If required, you can change billing options for a time slip activity. For example.you might want to modify rates to adjust for a seasonal sale or increased labour costs.
If you hire a vendor or contractor to perform project work on your behalf, you can enter their hours in the time slips window, if you have set up vendors as contractors. Like with employees, you need to make sure you have set up your service activities before you can begin recording time spent by contractors.
The time slip feature allows you to complete these tasks:
Add time slip hours to a customer or vendor invoice
Clear data from time slips that you no longer need
Pay an employee based on time slips