Calculate Overtime and Rates

ProjectStream 365 can automatically calculate overtime as well as apply changes to rates (Prevailing Wage and user specific rates) to existing timesheet records.  Overtime calculations automatically calculate when a user submits their timesheet.  Overtime hours usually calculate according to standard rules, such as over 40 hours for a week.  Timesheet approvers or Project Managers have the option of re-assigning which timesheet detail records incur the overtime hours vs regular hours.

Calculate Rates

Calculate Rates recalculates unit costs that may have changed at the project level, prevailing wage, or project resource level (employee labor rate)

Procedure

  1. From an existing Timesheet, select Process / Calculate Rates
  2. Line Item Rates will be recalculated based on Prevailing Wage settings on the project of the Labor rate of the Project Resource

Calculate Overtime

Calculating overtime will reset Regular and Overtime hours for the entire timesheet according to overtime rules setup in System Settings.  Projectstream 365 currently supports one automatic overtime setting for Over 40 hours per week.  

Procedure

  1. From an existing Timesheet, select Process / Calculate OT
  2. Regular Hours and Overtime Hours will be reset on all line items.  Total Regular Hours and Total Overtime Hours are also rolled up to the Timesheet (Header).

Adjust Overtime Hours

ProjectStream allows editing of timesheet detail regular hours and overtime hours.  Many companies want to choose which project incurs the overtime additional costs.  Adherence to overtime rules is validated before a timesheet can be approved and posted.

Procedure

  1. From an existing Timesheet, click Details and Review existing Overtime allocation
    1. By default apply overtime rules over 40 hours per week, will apply overtime to the timesheet lines that take the weekly total over 40 hours (at the end of the week)
  2. To adjust overtime on projects to a different hour setting, adjust the Regular Hours and Overtime Hours on existing timesheet detail lines. 

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