Time Keeping and Time Booking - Free BCom NotesThe main functions of time keeping department are as follows: 1. To maintain discipline, regularly and punctuality in the factory. Meeting the statutory requirements. Preparation of pay rolls where workers are paid on time basis. To record the arrival and departure time of labourers for making distinction between normal time, overtime, delay in attendance and early leaving.
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Difference Between Time Keeping & Time Booking ?
A time book is a mostly outdated accounting record, that registered the hours worked by employees in a certain organization in a certain period. In the 19th and early 20th century time books were separate held records. In those days time books were held by company clerks or foremen or specialized timekeepers. These time books were used by the bookkeeper to determine the wages to be paid. The data was used in financial accounting to determine the weekly, monthly and annual labour costs, and in cost accounting to determine the cost price. Late 19th century additional time cards came in use to register labour hours.
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This department is concerned with maintenance of attendance time and job time of workers. Attendance time is recorded for wage calculation and job time or time booking is considered for computing time spent for each department, job, Operation and Process for calculating labour cost department wise, job wise and of each process and operation. Time-keeping has to be done for even piece workers to maintain uniformity, regularity and continuous flow of production. Both the arrival and exit of workers is to be recorded so that total time spent by workers is available for wage calculations. Each worker punches the card given to him when he comes in and goes out. The time and date is automatically recorded in the card. Each week a new card is prepared and given to the worker so that weekly calculation of wages will be possible.
In this article we will discuss about:- 1. Definition of Time-booking 2. Objectives of Time- booking 3. Methods of Time-booking. Time booking signifies the time spent by a worker on each job, process or operation. It is more important in case of direct workers as compared to indirect workers. It gives in detail the activities of the worker and the time spent in each job.