In order to set up your Arithon System to run Timesheets, you must first decide what day your company's working week starts on, i.e. Does your fiscal week begin on a Monday, or a Sunday? To do this you must log in as a user with "Admin Rights" and click on the Admin button, on the top right of your Arithon Screen. Once the Admin Area is loaded, click on the "Preferences" button, then in the area to the right, click the "Week Start" button. A drop-down menu containing the values "Monday" and "Sunday" will appear. Select the appropriate value for your company, then hit the save button. You should also ensure that your currency is set correctly in your system. This is also set in the Admin Area, by clicking on "Preferences", then Currency. Here you can select the appropriate currency and hit the "Save" button. You will now be able to enter information into your weekly timesheets.
How it Works:
1. After a candidate has gone through the process of matching, selection, and interviews, he/she will be paired with a vacancy on the placement screen
2. Once the details of the placement have been set, you can now access the time sheet module for that placement.
Please Note: In order to create a timesheet for a placement:
- The placement's status must be "Placed".
- Both the candidate, and the vacancy must still be on the system, (i.e. Not deleted)
- There must be a "Starting Date" set for the placement.
3. In the "Action" column of the placements page, you will see a new link to "View Timesheet"
4. Once you click on this, a new window will open, with a Control Panel for the Timesheets for this placement.
5. From here you can:
- Create a new Timesheet (for the current week)
- Edit/ View a previous week's Timesheet
- Update the Placement's (Default) Charge Rate, i.e. The amount you company charges your client
- Update the Placement's (Default) Pay Rate, i.e. The amount your company pays the candidate involved
Creating a New Timesheet:
In the Timesheet Control Panel, click on the "Add New" button. This will open a new Timesheet for the current working week. On this Timesheet you can enter up to 4 different Charge Rates/Pay Rates, and the hours worked at those different rates. Once the values are entered, our system will calculate the total working hours, the total Charge Rate, the total Pay Rate, and your Gross Margin, for this working week.
An example how this works follows:
Suppose you have a candidate placed with a company on a temporary basis. The agreement that you have with the company is that you will charge them £20 an hour, for the work of your candidate. You have a separate agreement with your candidate that you will pay them £10 an hour, for this work. In this scenario, the Charge Rate for the placement is £20, and the Pay Rate is £10. At the end of the week, your candidate has worked 40 hours for the company. Therefore your Gross Margin is the difference between what you pay your candidate and what you charge the client/company involved: e.g. (Hours Worked X Charge Rate) (Hours Worked X Pay Rate) = Gross Margin (40 x 20) (40 x 10) = Gross Margin (800) (400) = Gross Margin £400 is your Gross Margin, for the placement, for this week.
However , if the candidate ends up working over 40 hours for any particular week, you agreed with your client/ company, that you will charge them £40 for each hour worked above the agreed 40 hours. Similarly, you agreed with your candidate that you will pay them £20 an hour for every hour worked past the weekly 40 hour mark. The next week the candidate ends up working 50 hours. Therefore we have a situation where Charge Rate at normal hours = £20, Charge Rate at Extra Rate 1 = £40 Pay Rate at normal hours = £10, Pay Rate at Extra Rate 1 = £20 Hours worked at normal rate = 40 Hours worked at Extra Rate 1 = 10 As you can imagine, the complexity of calculation involved to determine the bottom line figures of what you charge your client, what you pay your candidate and what your profit is at the end of the week, becomes more complicated all of a sudden. However, with Arithon's new Timesheet function, you will quickly see these figures appear in the fields provided. Thus, giving you (in this scenario): Total Charge Rate = £1,200 Total Pay Rate = £600 Total Gross Margin = £600
Edit/View a previous week's Timesheet:
Select a week from the drop-down menu, then click either "Edit" or "View" to edit/view the timesheet for the selected week. In edit mode, you can change/ update any values you wish, and hit "Save" to confirm these changes, or "Close" to discard the changes.
Update the Placement's (Default) Charge Rate
In the main Timesheet Control Panel, you can update the default charge rate that is used for all new timesheets. Please note: this will not edit the values saved in previous timesheets
Update the Placement's (Default) Pay Rate
In the main Timesheet Control Panel, you can update the default pay rate that is used for all new timesheets. Please note: this will not edit the values saved in previous timesheets