hello! can u please tell me what is the exact difference between Time Keeping & Time Booking ? Regards, prajkta
From India, Pune
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1From India, Pune
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Re: What is the difference between timekeeping and time booking?
Timekeeping is concerned with the attendance and wage calculation of employees, whereas time booking is the reporting of each worker's time for each job and department for cost analysis and dividing labor cost into various jobs and departments. The main functions of the timekeeping department are as follows:
1. To maintain discipline, regularity, and punctuality in the factory.
2. Meeting the statutory requirements.
3. Preparation of payrolls where workers are paid on a time basis.
4. To record the arrival and departure time of laborers for making distinctions between normal time, overtime, delays in attendance, and early leaving.
5. For overhead rates if based on labor hours.
Time Booking: Time booking means recording the time actually spent by a worker on various jobs done by him in the factory.
Purpose of Time Booking: Time booking is necessary for:
1. Ascertaining the labor cost of every job.
2. Providing a time basis for apportionment for overhead expenses.
3. Having control over the wastage of time – idle time, i.e., the difference between timekeeping and time booking.
From India, Jalgaon
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Timekeeping is concerned with the attendance and wage calculation of employees, whereas time booking is the reporting of each worker's time for each job and department for cost analysis and dividing labor cost into various jobs and departments. The main functions of the timekeeping department are as follows:
1. To maintain discipline, regularity, and punctuality in the factory.
2. Meeting the statutory requirements.
3. Preparation of payrolls where workers are paid on a time basis.
4. To record the arrival and departure time of laborers for making distinctions between normal time, overtime, delays in attendance, and early leaving.
5. For overhead rates if based on labor hours.
Time Booking: Time booking means recording the time actually spent by a worker on various jobs done by him in the factory.
Purpose of Time Booking: Time booking is necessary for:
1. Ascertaining the labor cost of every job.
2. Providing a time basis for apportionment for overhead expenses.
3. Having control over the wastage of time – idle time, i.e., the difference between timekeeping and time booking.
From India, Jalgaon
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