IRS Time Tracker

Time Tracking for R&D Tax Credits

An important key to maximizing the value of both federal and state Research & Development Tax Credits is having accurate and detailed labor cost information.  IRS Time Tracker is a cloud-based Time Tracking application built by Fawcett Technology Advisors that is optimized for companies that need to maintain accurate time records in order to maximize R&D Tax Credits available under IRS Section 41 and other state tax code.

IRS Time Tracker is easy to use and easy to implement, yet feature rich to enable businesses to generate reports in a fraction of the time and with much greater precision.

Summary of Features

IRS Time Tracker has all of the essential features to make the system easy and turnkey:

  • 90 Seconds Per Day:  most workers will be able to fully record their time in 90 seconds or less per day
  • Work Assignment Dashboard: each worker has his or her own dashboard that shows work assignments, time recorded for the week and other important information.
  • One Click Time Sheet Entry: recording time spent on a task is one click away with a simple drop down form that allows the worker to select the work item, labor type, enter time worked and notes.
  • Simple Management Review Screen: a simple screen that allows managers to review, approve, modify and/or reject a workers timesheet.
  • Project & Labor Setup: the system allows each company to set up projects, work items, pay periods and labor types
  • Manager Dashboard: a one-look dashboard for managers to view live time entry statistics, timesheets awaiting approval and other important information
  • Simple Reporting: the system offers many reporting and searching capabilities including a one-click Accountant’s Copy Excel file that pulls data directly out of the system into a file that you can ship off to your accountant.
  • Single Sign-on with Office 365: the application is tightly integrated with Office 365 and uses Office 365 for authentication

Customization Options

The IRS Time Tracker is built on Microsoft Dynamics 365.  This architecture enables Fawcett Technology Advisors to offer enterprise-class security, stability and the ability to easily customize the application without the risk and cost of building custom software.

Think of the solution as a layered cake.  The bottom layer is Microsoft Dynamics 365.  The middle layer is the IRS Time Tracker.  And the top layer holds your customizations.  All three layers work together, but can improved independently.  This enables you to have the customization that you need at a low cost and with low risk.

Full Solution

IRS Time Tracker is a full managed solution that includes implementation, configuration and support for one simple annual fee.  Easy, no hassle and turnkey.