The information provided by time tracking reports is very useful and the information will be about various issues pertaining to a particular version of the project. The time tracking software creates the reports from which it can be easily found out whether the issues that are under consideration are ahead of the original time schedule or are lagging behind. The original as well as the current time estimates will be mentioned in the reports for all the issues.
The time recording software facilitates creation of live reports which will provide real time data. In order to know the state of the project at a particular time static report can also be created using the software. The time reports that are created can be shared within the organization and also with the clients. The time tracking software also enables to prepare customized time tracking reports. In such reports the information will be customized.
Here’s how the reports look in TimeCamp:
Generating time tracking reports
The time tracking software provides customizable, updated reports about the activities at the workplace. The user can track time spent by workers who are working on the issues. The report will contain data about an issue only if that particular issue has time tracking data. By going through the time tracking reports, the users can assess how the resources are allocated and used and how changes in the workforce are justified.
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Time tracking and billing information for billing customers are also gathered from the reports.
The Time Tracking Fields and the Billing Rates are to be configured in order to make proper time tracking reports. For the purpose of client billing as well as project costing, one should have the data about time worked on specific tasks of the project.
Hours must be reported by project, task and user. The actual hours of work are to be compared to budgeted hours. The time tracking reports are either printed or prepared as Excel sheets. The actual, as well as budgeted expenses of the project, also can be tracked and reported in the same way.
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Benefits of time tracking
Time tracking offers a lot of benefits. The time tracking reports provide valuable data for project estimation in future. The work in process can be valued using the data provided by the report.
The data can be used for processing of payroll as well as automation of billing.
The reports provide insight in to costs. Apart from these financial benefits, the tracking reports enable the employees to convince their employers how much revenue they have generated for the company and the additional resources that are required in order to complete the project on time.