When you optimise R&D time tracking, you’re not only creating the evidence to substantiate the wages and salaries in your claim, but you’re also providing the evidence to claim other related overheads in your business. Timesheets are the key to effective R&D tax compliance, and neglecting this statutory obligation poses a grave threat to your claim's viability and can result in ATO audit failure, fines, and penalties.
R&D Timesheets has been meticulously crafted for R&D Tax Incentive claimants for the sole purpose of creating audit ready timesheets quickly. Simply upload your claim and start generating compliant R&D timesheets within minutes. Uncertain about what qualifies as R&D, with R&D Timesheets you can document 'unallocated' R&D time throughout the year, then work with your consultant or advisor to allocate time accordingly at financial year end.
R&D Timesheets will keep your team on track to ensure no hours are missed and give you visibility over your team’s R&D progress. More eligible R&D hours recorded = more R&D Expenditure claimed.