Why Use a Construction Timesheet Template?
A construction timesheet template is essential for accurately tracking crew hours and managing job costs. With labor being one of the highest expenses in construction, even minor miscalculations can result in significant financial implications, potentially leading to a 15-20% loss in billable income. By ensuring precise time tracking, these templates help mitigate such risks and ensure compliance with labor laws.
Employers must adhere to the Fair Labor Standards Act (FLSA), which mandates accurate record-keeping for payroll purposes. This includes preserving time card records for at least two years. Using a template can streamline this process, making it easier to maintain compliance and avoid penalties, which can reach up to $13,508 per violation under the Davis-Bacon Act.