Memo on Time and Expense tickets

Memo on Time and Expense tickets

Time Tickets and Expense tickets are used to account for time or expenses that are not counted under the normal hourly wage type positions. Time tickets are used to record time spent on a task that may not be billed as an hourly job or for jobs that take less than an hour to complete. Expense tickets are used to bill customers for expenses incurred while completing a job for the individual or company. Some examples of expense tickets could be fax fees, or lunch meetings. A few examples of time ticket uses would be consultation fees or researching fees. Some similarities between the two are that each are recorded using the time and expense ticket section of accounting software. You can set up a default to charge for the time or expenses or set your own price when each ticket is entered. The two differ in that they record different types of non repeating expenses.

Both completed tickets look very much the same with a few differences. On time tickets you can find the activity item, job name, invoice description, time details and billing rates. There is also a time ticket timesheet where you can view see all time tickets at once over a given time period. On expense tickets you can find ticket number, vendor id, item details, ticket details, job name, invoice description and billing details. Only the wording in each ticket appears to be different, excepting that the time tickets include ticket details such as duration and start and end times.