Timesheets are an important part of the management of a European R&D project. Every participant in a Horizon project must keep records and other supporting documentation to prove the proper implementation of the action, and thus it becomes extremely important when providing evidence on the eligibility of personnel costs.
In this post, we are going to introduce you to the importance of keeping records of your personnel costs and how KRONIS, the first EU software platform to manage your Horizon project, can support your organisation to efficiently manage the costs and time of your R&D projects.
What are personnel costs in a Horizon project?
In Horizon projects, personnel costs refer to the expenses related to the employment of project staff. Personnel costs are typically a significant portion of the budget for a Horizon project, as they are necessary for the successful implementation of the project. As with all costs, these must meet the general cost eligibility criteria (art 6.1 GA), and there are additional special requirements depending on the personnel cost category (e.g., employees, SME owners, personnel seconded by third parties, etc.).
It is important for organizations to accurately estimate and track personnel costs in order to stay within budget and ensure compliance with the terms of the grant agreement. This may involve maintaining accurate timesheets and other documentation, as well as regularly reviewing and adjusting the budget as needed.
What is an EU project timesheet?
As part of the grant agreement, organisations are required to justify their expenses and report on the progress of their project. This typically involves timesheets, which are documents that record the time spent by project staff on various tasks related to the project. They are used to track the progress of the project, allocate resources, and justify expenses. For persons who work for the action (regardless of if they are full-time or part-time employees and/or if they work exclusively or not for the action), beneficiaries of an EU grant may either:
- Use reliable time records (e.g., time sheets) either on paper or in a computer-based time recording system, to record (at least) all the hours worked in the action, or;
- Sign a monthly declaration on days spent on the action (template).
Timesheets are typically completed on a weekly or monthly basis and must be dated and signed at least monthly by the person working for the action and their supervisor. If the time recording system is computer-based, the signatures may be electronic (e.g., linking the electronic identity data, e.g., a password and username, to the electronic validation data), with a documented and secure process for managing user rights and an auditable log of all electronic transactions.
Accurate and up-to-date timesheets are also important for accountability and transparency. They provide a record of the time and resources invested in the project, which timesheets are also important for compliance with the terms of the grant agreement. If an organization is unable to demonstrate that it has used EU funds in accordance with the agreement, it may be required to return the funds or may be ineligible for future grants.
How Kronis can help your organisation with your time-keeping procedures?
Manually tracking time on paper or in a spreadsheet can be prone to errors. Firstly, it requires a lot of effort and attention to detail to accurately record the time you spend on different tasks and projects. Besides, manual time tracking can be time-consuming and inefficient, especially if you have to go back and correct errors or manually calculate totals for different reporting periods in multiple Horizon projects.
KRONIS™ is the first software to support organisations with their time-keeping procedures and make it easier to accurately and efficiently track timesheets of the personnel involved in research and innovation projects. Kronis has been built to be Horizon 2020 and Horizon Europe compliant and allows organisations to make project justifications a smooth process. Some of the benefits of using Kronis to manage timesheets include:
- Improved accuracy: From personnel changes (new employee, contract changes, costs, etc.) to new projects and tasks, Kronis avoids changing timesheets every time an event happens in your organisation to ensure that the data is accurate and up to date.
- Increased efficiency: Kronis can help streamline the process of tracking the time of your R&D project, making it faster and more efficient to enter and review data.
- Enhanced control and monitoring: Kronis provides real-time data, allowing organisation and project managers to see how much time and money are being spent on different tasks and projects and make informed decisions about resource allocation. No more planning pains!
- Alerts system to sign timesheets: Kronis sends automatic reminders to everyone and offers you a unique control panel to check who’s signed and who’s not.
It was never so easy to control your R&D performance. Kronis provide you with an integrated view of your projects, deviations, costs, and time reported. If you want to start working with Kronis for free or simply want to know more about how to use it, do not hesitate to contact us and book a meeting with us!