CheckPoint Ticket Memo - Expense tickets are used to track...

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_____________________________________________________________________________________ To: All Employees From: Mrs. Litchfield, CEO Date: June 15, 2010 Regarding: Time and Expense Tickets _____________________________________________________________________________________ This memo is to clarify the usage, difference, and the information found on each ticket. Time tickets are used to record time-based activities such as research or consultations. They record the activities of either an employee or a vendor. The two methods of entering time tickets are weekly or daily. The billing rate used the recorded activity can be based on either the employee who records the ticket or pre-assigned billing rates. Time tickets need to include the following information: Ticket and invoice numbers, Whose time is to be billed (employee or vendor with ID and name), why the ticket is being recorded (Customer ID and Name) , time and billing details (status, type, rate and duration).
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Unformatted text preview: Expense tickets are used to track and aid in the recovery of customer related expenses that are not based on time. The rate of expense tickets is determined by the unit price of the charge item multiplied by the quantity. Expense tickets need to include the following information: Ticket and invoice number, whose expense is being recorded (employee or vendor with ID and name), why the ticket is being recorded (Job ID and name), item details, Invoice description, Ticket date, and Billing Details (quantity, price and billing amount). It is imperative that each ticket includes all the necessary information so billing can be done appropriately without error. If the information mentioned above is not correctly posted to each time ticket the billing will not be completed as needed which will cause a loss of income to both the company as well as the employee. If you have any additional questions please feel free to contact me for additional elaboration....
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This note was uploaded on 06/20/2010 for the course ACC 250 Accounting taught by Professor Several during the Spring '10 term at University of Phoenix.

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