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Contractor Timesheets
If you work as a freelance contractor you normally need to complete timesheets on a weekly or monthly basis. A timesheet is a record of the hours or days you have worked further to a particular contract.Why complete Contractor Timesheets?
If you do not get timesheets signed off and approved by a suitable client/agent representative you could be in store for protracted arguments over the time you have actually worked on a contract. Most Clients and Agents will only pay a limited company invoice if it is accompanied by an approved timesheet.Where do I get timesheets from?
Where you get timesheets from often depends upon the contract you are working on.If you work via an Agent you will normally be required to complete Agency timesheets and fall in line with their invoicing methods. New timesheets are normally sent out each week or month. However, sometimes an agent will supply you with enough timesheets to cover an entire assignment.
If you work direct for a Client you will either complete client timesheets or your own. Check timesheet arrangements with a Client when you first agree a contract.
Completing Contractor Timesheets
You will normally either be paid by the hour or by the day. If you are paid by the hour enter the total number of hours you have worked for each day spent on the project. If paid by the day enter the total number of days spent working on the project in the period.If you are paid by the day check the minimum number of hours you are required to spend working on the project each day. Confirm with the client or agent in advance the hours required to constitute a half day or a quarter day.
When completing contractor timesheets make sure that:
- You complete the timesheet in ink, not pencil
- You check and double check that all information is correct
- You sign the timesheet
- You take a photocopy once complete if the timesheet is not a duplicate or triplicate copy
When to get timesheets approved?
You normally get contractor timesheets approved on a weekly or monthly basis. The frequency with which timesheets must be completed and signed off should be detailed in your contract.If you submit timesheets to the client representative for approval make sure you chase them regularly. Client representatives are often busy people with mountains of paperwork. They may not be aware that you will not be paid until they have approved the timesheet.
Where are approved timesheets sent to?
Timesheets must be sent to Clients or Agents with a Limited Company Invoice. Check the contract for detailsSelf Billing Systems
Many Clients and Agents now use Self Billing Systems to speed up contractor payments. If you are required to use a Self Billing System you will normally be given a log on and password when you start the contract.Instead of completing a hard copy timesheet you will log onto the system and complete hours worked that week or month. Once completed information will be sent to the client representative for payment approval. As soon as approval has been granted the client or agent will begin the process of making payment to your limited company. A Self Billing Invoice is normally sent to accompany the payment.
With Self Billing Systems the client does not need to receive an invoice from your limited company to make a payment therefore speeding up the process. If you use the system make sure that you keep hold of an accurate record of your hours.
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