Manage Timesheet Periods
Use the Manage Timesheet Periods screen to define the cycles or periods of time by which your company enters timesheet data for its employees.
Using the Open field in the table window, you can control whether timesheets can be entered for a specific timesheet period. Only timesheets with dates that fall within an open timesheet period can be entered on the Manage Timesheets screen. The timesheet periods and related end dates in this table are also used by the Post Timesheets screen for selecting timesheets to post.
You must set up timesheet cycles (periods) before you can assign a timesheet cycle to an employee on the Manage Employee Information screen. You also must establish timesheet cycles before you can complete the Configure Labor Settings screen.
You can access this screen to view whether or not weighted average has been calculated and applied to a specific timesheet period. The weighted average rate is a rate that is calculated by adding the labor amount from several timesheet lines and dividing that sum by the total number of hours from those timesheet lines. This is an important concept for those employees that perform contract work, for which they receive a different rate for each project.
When you create new timesheet periods in this screen, the Weighted Avg Processed check box defaults to cleared.