Time Charging Sample Clauses

Time Charging. Time charging process at ETC is summarized as follows: The Company utilizes a job cost accounting system. As stated earlier, all contracts and orders, commercial and government, are assigned an SOR number (a Sales Order Release number). This number is disseminated company-wide. All direct labor (as well as all materials) expended on a given contract is charged to its SOR number and is entered on the employee’s time sheet. Time sheets are reviewed for accurate time charging and signed by a supervisor, then forwarded to the Accounting Department, where the labor cost is collected and entered under the SOR number in the Aftec PRO-III accounting system. ETC supervisors are tasked with educating employees under their supervision in this process, and in the importance of the proper and accurate completion of their time sheets. ETC understands the importance of maintaining strict compliance with this process, especially when it comes to tracking and recording labor and materials to government contracts. Moreover, ETC further understands the significance of specifically tracking labor and materials as it relates to potential changes. With that in mind, ETC will, at the earliest opportunity and in no case later then at the time of notifying the CO of a potential change, issue a SOR for each potential change that it identifies on a government contract. Moreover, when recording time to a change SOR, employees will be instructed to keep the most detailed time records so that they may be used accurately to support any charges included in the change.