How Deltek Costpoint Timesheet Works
Employees typically select a timesheet period and enter hours against authorized projects and activities. Depending on the organization's configuration, time may be categorized by labor category, task, indirect activity, leave type, or other accounting dimensions.
After entry, the timesheet can move through validation and approval workflows. Supervisors or designated reviewers examine the submitted hours before approval. Approved records can then become inputs for project costing, labor reporting, billing, and other financial processes.
- Time entry: Employees record hours against appropriate projects and charge codes.
- Validation: Entries are reviewed against configured rules and required information.
- Approval: Authorized managers review and approve submitted time.
- Accounting: Approved labor data supports project cost and financial reporting.
Project Costing and Labor Accounting
Deltek Costpoint Timesheet is especially relevant when labor represents a significant portion of project expenditure. Assigning hours to the correct project, task, and labor category allows finance teams to distinguish direct labor from indirect activity and evaluate actual costs against project budgets.
Accurate time records can also support billing when contracts use labor hours or labor categories as billing inputs. Project managers can use approved hours to monitor labor consumption, while finance teams can use the same information to support period-end accounting and management reporting.
Timesheet Software Finance describes the broader connection between employee time data and financial workflows such as project costing, billing, payroll coordination, profitability analysis, and financial reporting. Deltek Costpoint Timesheet provides this connection through structured project and accounting dimensions.
ERP Integration and Financial Workflows
Costpoint Timesheet operates as part of an ERP environment rather than as an isolated time-tracking process. Organizations using deltek Costpoint can integrate project, labor, accounting, and finance information with connected systems while maintaining consistent data structures.
Deltek Integration Finance describes the use of integrations around Deltek environments to connect ERP data with broader financial and operational workflows. For timesheet users, effective integration can help approved labor information move into related project accounting, billing, reporting, and reconciliation processes.
Finance teams may also connect timesheet-supported project information with invoice workflows. During invoice processing, invoice capture, extraction, validation, matching, GL coding, approval, and posting can use accurate project and labor information to support reliable accounting and billing records.
Timesheet Controls and Approval
Strong timesheet controls help ensure that labor is recorded against the appropriate project and accounting dimensions before it contributes to financial information. Organizations can establish submission schedules, required fields, charge-code rules, approval hierarchies, and correction procedures.
A Timesheet Approval Checklist provides a structured way to review dates, project assignments, charge codes, hours, supporting information, and approval status before submitted time becomes part of downstream financial workflows.
These controls also create a clear audit trail between employee activity, supervisory review, and approved project costs. This is useful when finance teams investigate project variances or prepare supporting documentation for contract and financial reviews.
Month-End Close and Financial Reporting
Approved timesheet information can contribute to month-end reconciliations, labor accruals, project cost analysis, and financial reporting. Finance teams need timely visibility into approved labor so that project expenses and related accounting entries are reflected in the appropriate reporting period.
During the close process, teams may compare recorded labor with project budgets, investigate unusual variances, complete required journal entries, and confirm close readiness before reporting deadlines. Well-organized time data can support a faster close by giving finance teams dependable project labor information for reconciliations and close tasks.
The same financial data can support receivables activities after billing. When customers submit payments, cash application involves matching customer payments and remittances to invoices, resolving unapplied cash or deductions, and posting receipts. Consistent project and billing information can provide useful context for these activities.
Best Practices for Deltek Costpoint Timesheet
Organizations can improve the quality of timesheet information by keeping project structures and charge codes current, communicating submission requirements clearly, and assigning approval responsibilities to appropriate personnel. Regular review of corrections and rejected entries can also identify recurring coding patterns that require clarification.
- Maintain current project, task, and charge-code assignments.
- Set clear submission and approval deadlines.
- Review unusual hours and incorrect project assignments promptly.
- Align timesheet controls with contract and billing requirements.
- Reconcile approved labor with project and financial reports during period close.
Summary
Deltek Costpoint Timesheet connects employee labor records with project accounting, billing support, financial reporting, and contract-related workflows. Accurate time entry and controlled approvals provide finance and project teams with dependable labor information for monitoring costs, supporting billing, completing period-end activities, and making informed project decisions.