Any business with many employees needs to keep track of the number of hours that they work. An old school spreadsheet or paper document is no longer enough to track everything from hours worked and overtime to holidays and special circumstances. Online timesheets are great for providing alternative methods of tracking complex and simple time-tracking situations.
From web-based timesheet to the cloud, this electronic solution helps businesses to manage their payroll and time tracking better. What are the benefits of using electronic timesheets?
1. Customizable
These timesheets are customizable depending on the type of business or department that you run. You can create custom calculations and fields to ensure that the timesheet caters to your needs. Every department head has control over how the timesheet is laid out to suit the needs of employees.
When you customize timesheets, you will reduce the need for manual data entry or editing every employee’s data during each pay period.
2. Central access
Paper timesheets are usually stored with the head of a department or in file cabinets. This means that employees cannot access their own timesheets easily. Moreover, paper documents can be lost easily and supervisors may have a hard time finding the right sheet.
Online timesheets, on the other hand, give everyone access, making it easier for employees to fill out their hours from anywhere. Access can be controlled based on the user type so that each person sees the right information. Central access also means better time tracking, faster processing, and quick answers.
3. Reporting and history
Spreadsheets and paper documents equal many documents stored throughout your computer network or business. Online timesheets are stored in one database, making them easier to access. When everything is in one location, it is easier to generate reports for departments, individuals, small groups of people, and the whole company.
Most online timesheets are part of time tracking applications with inbuilt reporting features. Electronic timestamps also make it easier to track changes, when they are made, and who makes them. You can easily see if an employee’s timesheet was updated or an error occurred during submission.
4. Corrections
Making changes on paper documents and spreadsheets is very time consuming. Moreover, errors might not be seen until it is pay period. However, online timesheet corrections are instant. A supervisor can ask employees to make changes and as soon as the change is made, he will see it immediately and approve the timesheet.
Instant correction of errors means that there will be fewer payroll errors.
5. Efficient collection
The more employees a department has, the harder it is to keep track of who has submitted his timesheets. With online timesheets, supervisors will easily see a list of who has and has not submitted theirs. The supervisor can then remind those who have not submitted theirs to do so.
Moreover, some timesheets generate automatic reminders to keep all the employees on schedule. This makes it easier for everyone to play his or her part.
6. More profit
Employee time tracking is important if you want to run an efficient and profitable business. Tracking and knowing the time employees spend on specific tasks will help in analyzing the quality and productivity of employees. Additionally, the most strategic use of online timesheet data is planning for the future.
This means that you can use the data on timesheets to estimate future projects. After all, businesses that are more profitable benefit everyone: less waste, more pay and benefits, greater success, better systems, and better results. Therefore, timesheets are not as bad as some people think they are.
[Image via Google Images]
