The days of paper timesheets are over: if you’re a working millennial, you may have never even seen one! But even with electronic timesheets, there’s plenty of room for mistakes that can cost either you or your employees. It’s all too easy to enter the same hours in twice for an employee, or on the other hand, to forget to record their 20 hours of overtime worked this week (a quick and easy way to lead to employee dissatisfaction!) With an integrated workflow system, you can keep on top of things in real time: by linking your timesheets with payroll, scheduling, and accounting, you can easily minimize these gaffes.When you’re creating a timesheet, some of the things you need to consider are:
If an employee has been approved for annual leave, but their timesheet says that they were absent that day, then they get an unfair mark on their work record and they’re underpaid to boot. Not a good look! By combining timesheets with scheduling, you can easily see who is supposed to be at work today, who is on leave, and who is absent. This will make the job of the payroll much easier!
If you pay a different salary for the night shift than the day shift, or if you pay extra for overtime, then you’ll need the timesheet to reflect accordingly. This is a common cause of payroll mistakes, so it’s important to take care where this is concerned. By standardizing and automating your processes for salary differentials, you won’t have to spend time manually fixing up mistakes later.
A centralized, cloud-based timesheet app saves you from having to e-mail timesheets out, and also means that employees won’t need to e-mail you if they lose the timesheet later. They’ll have easy access at their fingertips to their own timesheet information, in real time, and if there do happen to be any mistakes then they can point it out before payday!
A wonderful benefit of real-time cloud-based timesheets is time tracking: you can easily figure out at a glance who’s working where, and whether there are enough people working at the location to meet the expected workload. This reduces the potential for human error, and also means that you don’t have to call up ten different people to work out what office they’re going to be at to figure out when and where to schedule a meeting.
If you’re a contractor, or you’re working with contractors, then this is an important aspect to consider. Tracking labour hours for various tasks on various projects means that you’ll be able to realize if something is going over the expected hours, or if the contractors you’ve employed are not meeting deadlines. Additionally, letting contractors submit timesheets to you will streamline the payroll.
The information that you’re providing when you create a timesheet represents valuable data for your business. It can be used for cost-benefit analysis, and to track how many hours went into a particular project your business is working on. It can also be used to identify trends (i.e. illegitimate sick leave) that can benefit the day-to-day running of your business.
At InBold Solutions, we recognize that no two businesses are alike, and that different businesses will have different timesheet needs. We provide a highly customizable service, with drag-and-drop functionality to make it easy for you to co-create a solution that fits your business like a glove. Our integrated workflow system makes it easy to coordinate between your scheduling, timesheet management and payroll functions, so that everything flows more smoothly and you can save time to concentrate on the things that matter the most to your business.