They say time is money. If you are a business owner, keeping track of your employees? time can save you money. An employee timesheet is a useful tool in managing a business. It ensures that employees are only paid for the hours they work. On the other hand, it increases productivity.
An employee timesheet is a record of time values that an employee or a contractor works on a given duration. It makes time tracking easier and more efficient. A business can benefit from the right time monitoring. However, this does not imply micromanagement. A timesheet can be part of a time tracking software that tracks time on tasks and projects while maintaining employees? freedom. Using an employee timecard comes with many benefits including enhanced management. It enables monitoring the functions carried out by employees while tracking time spent on each task.
Also, today?s employee timesheets do more than recording total hours worked. On the contrary, they also help in the preparation of payroll. This ensures that employees are paid for all the time they spend on various projects. The timecard helps the employees to focus so that they can finish their tasks within the set timelines. Besides, it enhances workflow and cuts organization costs.
Structure of employee timesheet
It is important to understand that an employee timesheet can take various forms. The timesheets can be of different durations such as daily, weekly, bi-weekly, half-month or monthly. The sheet contains a number of columns and rows. The majority of timesheets with include the employees? name, time in, time out and the number of hours worked on a task. However, the timesheets can vary significantly based on the organization and variation of tasks.
In the past, employees were required to fill in the hours worked in a physical timesheet. However, today there are electronic timesheets that come in different variations and are even available online in the form of templates that can be customized to meet the organization?s needs. These templates can have several columns that even calculate wages for the hours worked.
Especially in organizations that use time tracking software, some sophisticated timesheets allow the payroll department to calculate the total income earned by employees. This makes it possible to pay workers their rightful wages without guesswork especially for those who work on non-regular hours. Therefore, an employee timesheet is an important business management tool. Today, there are electronic timesheets that are flexible and more accessible to employees such that one can clock in from wherever they are. It is for you to find the best for your business.