Maintaining accurate and detailed records is essential for demonstrating compliance with WBSO regulations and ensuring you can justify any claims you make. Here are some best practices:
Organize Documentation: Ensure all project-related documents are systematically organized and easily accessible. Create separate folders or digital archives for timesheets, invoices, receipts, project plans, progress reports, and milestone documentation. Consistent organization will save time during internal reviews or external audits, especially if records are requested by the RVO (Netherlands Enterprise Agency).Regular Updates: Update records regularly, ideally within 10 business days, to ensure they reflect the current status of the R&D project. Ensure that records of both time spent (hourly administration) and project progress (project administration) are accurate and up-to-date. Avoid backdating entries or making retroactive adjustments, as this may raise compliance issues during audits.Verification and Validation: Regularly review and verify the accuracy of your records. This process should include cross-checking timesheets with actual project outputs, ensuring that financial records match R&D milestones, and confirming that all data entered into your systems is properly documented. Perform periodic internal audits to verify compliance with WBSO regulations and ensure that all documentation is complete.Tracking Time with Tools: Use dedicated tools for time tracking, such as Traqqie, to automate time-keeping processes and minimize the risk of manual errors. Automated tools can help maintain consistent records and offer a reliable audit trail for hours worked on R&D activities, which is crucial for demonstrating compliance. Linking Hours to Projects: Ensure that time tracking not only records the hours worked but clearly links each hour to specific R&D projects. This linkage helps to verify the alignment between project outcomes and the time spent, which is important for the success of your WBSO application and compliance with reporting requirements.Project Changes: If there are any changes in project scope, objectives, or timelines, update your records accordingly. WBSO applications are based on specific technical challenges and developments, and any deviation should be well-documented. This can prevent issues during audits and show transparency in the way you managed the project.