Page 39 - Final-Policies and Procedures Guide_7-25-17_Neat

VII.

TIMEKEEPING POLICY AND PROCEDURES

A. INTRODUCTION

The accurate assignment of hours worked to proper project and overhead accounts is
essential to the integrity of Molzen Corbin's accounting and billing systems.
Through the accounting process, we provide clients with accurate invoices and
Company management with accurate and timely information, thereby contributing
positively to the financial health of the company. As a service business, the accuracy
of Molzen Corbin's accounting and financial systems is dependent upon honest
recording and tracking of hours worked.

Supervisors are expected to assign team members specific tasks which are to be
completed within a requisite number of hours. Team members are expected to know
the proper project or overhead account to which to assign their time and to record
time honestly and accurately. Supervisors, in turn, are responsible for assuring that
team members are aware of proper project and overhead accounts, and for reviewing
and verifying timesheets for accuracy.

B. RECORD ALL HOURS WORKED

All hours which advance the operation of our business are to be recorded on a daily
basis on an electronic timesheet. While time reported to a project should accurately
reflect time spent working on the project, the time spent on the project should fairly
reflect the time contemplated by Molzen Corbin and the client at the time the contract
was made. Time spent for self-edification is not always time that was fairly
contemplated under a contract with a client and, thus, time reported should account
for the client’s expectations of expertise and efficiency under the corresponding
agreement. Although changes may certainly be made with client approval and time-
estimates revised given a change of scope or the pragmatics of the project, generally
speaking, time reported on a project should reflect the expectations of the client and
project manager as the time that would normally be required to accomplish the
contemplated work.

C. GENERAL ALLOCATION OF LABOR CHARGES

All recorded hours by Molzen Corbin employees will ultimately fall into one of two
general categories. The first general category is direct cost, which includes those
costs that have a direct causal or beneficial relationship to a specific contract.

VII-1

inspired professionals defining excellence

“Nothing in this guidebook changes the “at-will” nature of employment with Molzen Corbin. This guidebook is not an exhaustive statement of all rights and
responsibilities of Molzen Corbin employees. Employees are directed to ask Human Resources for additional information about matters addressed in this
guidebook. Furthermore, nothing in this guidebook shall prohibit or is intended to interfere with the exercise of Employee rights under Section 7 of the
National Labor Relations.