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Allow time on archived/in-planning projects: Selecting this option allows the users to fill time entries against the Archived and In-Planning projects. 

Allow overtime rates: Selecting this option allows the users to enter the overtime rates.

Auto approve time: If you select this option, then the time entries submitted by the users are automatically approved.

Show all hours (Timesheet, Est/Act. Hours) in decimal (2.5) instead of HH:MM (2:30): If this option is selected, time will be displayed for example as 2.5 instead of 2:30. Applies to all hours like in Timesheets, Est/Act. Hours etc.

Send incomplete timesheet reminder emails to users daily at: Selecting this option will send automatic reminder to all users who have filled incomplete timesheet for that day at the time you have set. The default time is set to 4:00 PM.