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Time tracking for 1099 Subcontractor

Dear partners and customers,

We need your feedback on whether this idea makes sense, and the functionality is demanded for your clients / your business.

* * *

Business scenario: Company needs to file 1099 Form for a subcontractor, to whom the company pays on hourly basis. The company wants the subcontractor to log their work time in the system in a form of time activity or time card (similar to what employee does), and then use the captured hours to generate AP bills for payment and 1099 reporting.

  • Ekaterina (Kate) Stepalina (Product Manager Project)
  • Jun 1 2018
  • Shortlisted
  • Attach files
  • Mike Lupro commented
    June 01, 2018 16:48

    Yes, this would be very helpful.  A project manager needs near-real-time information and there are often many subcontractors involved on projects.  If they cannot enter time in a time-card-style effort their billing method will rule.  This can be a weekly or monthly invoice.  Their invoice may be prepared a few days or a week after their work is done.  Then the A/P team may take a day or three to get the invoice entered and coded.  So a LONG time can elapse with standard A/P subcontractor billings.  

    Direct entry is real-time and helps the PM know where the project stands much sooner than the other way.  

    An additional benefit could/would be the PM review/approval process and from there the entries should auto-enter into the A/P process.  Both PM's and subcontractors should love that.  In the end it should be less work and faster pay for the subcontractor and more control, more information faster for the PM.

  • Joel Gress commented
    June 04, 2018 13:20

    Yes, this would be great!  Most professional services companies have subcontractors and the time it takes to process AP Bills delays invoicing to the customer.  Consider ad agencies and all of the freelance worker they engage on various projects.  Flexible workers in the form of subcontractors or freelance workers is growing business model.  Look at the increase in sites like Freelance, Upwork and PeoplePerHour as an indicator.

    https://www.forbes.com/sites/elainepofeldt/2017/09/27/the-powerful-trend-that-will-soon-make-the-freelance-life-easier/#628e56bd623e

    By processing through Time/Expense you would have more details to pass to Project Billing for display on the customer invoice.  The approvals through Time/Expense entry are much more in line with the required process of these organizations.Ideally this new input form would allow for the entry of time and expenses at the same time. Overall, this type of functionality benefits both the company and the subcontractor.

  • BJ OReilly commented
    June 04, 2018 15:07

    Very much needed. Especially with the growth and use of Subcontractors with Project Accounting. Many people are using subs.  Thanks

  • Abdul Rehman commented
    June 05, 2018 06:08

    Very much needed.

  • Ekaterina (Kate) Stepalina (Product Manager Project) commented
    June 05, 2018 16:05

    Thank you all very much for your thoughts! Very helpful.