There is no need to record overtime in IT 2005 automatically
The Time EValuation schema itself will analyse the actual times, compare it with the planned times and determine Overtime - you can make the schema generate an appropriate wagetype for compensating Overtime by configuring T510S.
STandard Schema TM00 has lots of sample rules for determining overtime, you may need some custom PCRs depending on your customers requirement
Regarding automatic absence recording in IT 2001 for late coming/early leaving etc - well, again, that cannot happen automatically unless you have a custom function or something - but you can make Time Evaluation generate exception emssages for all these cases which a Time Administrator can review and create absences using Time Managers Workplace/Fast Entry or simple Pa30/61 depening on the number of records that needs to be processed on a daily basis.
