Timesheet Software
Large companies are running into problems nowadays where employees are not filling out time cards (time slips) correctly. Time gets added for hours not worked and time that was worked was not computed correctly because of either typographical errors or problems where the employee did not fill in the box correctly. Time tracking can be a major hassle, especially for larger organizations. Also, friends clocking in for their coworkers cost businesses thousands of dollars. Time charged to clients of a firm can also be lost through employee negligence. This is a major problem for professional companies like lawyers, accountants, and other consultants because their income relies on the billable hours of their employees. Thus the invention of time sheet software: an automated solution to an ever-increasing financial problem faced by most companies. Timesheet software is like a time tool box for employers. They are versatile and save the company money. Their ease-of-use prevents costly mistakes of filling in timesheets incorrectly. Their security and impartial behavior prevents the friend from clocking in for another employee. For the accountants of the company, timesheets can be automatically calculated and billable hours can be automatically computed. The resultant information can be printed on an invoice template or exported to formats that could be understood by accounting software like QuickBooks or Peachtree. Employers also save time converting from paper time sheets to electronic records because they don’t have to do manual entry into their accounting software. Instead, all information is automatically entered, calculated, and printed on template invoices or company letterhead via the time sheet software. The software also calculates the employee’s total hours and even their hourly wage for the time period specified. All solutions in one great package. For web time sheet software, employees who are not in the office can clock in and out from a web browser. Employers can review an audit trail of when an employee submitted a time stamp and when they made a manual entry on the time card. Employees can look back at the hours they submitted in the past to track their own hours worked. This keeps the business in check and gives peace of mind to the employee as well as the employer. Most time sheet software has additional reporting functions built in. Employers can graph trends of expenses and track where (or to whom) their money is going to. Employees can optionally enter expenses related to the job and print out reimbursement reports or electronically submit the expense via the time tracking software so that their employer can reimburse them for a job well done. FYI Time sheet software must adhere to the strict accounting standards of the Department of Defense and must be DCAA Compliant. This means that the software must be password protected, must have an audit trail, definable employee rates, a multi-layered time sheet approval process, and much, much more.
No more clocking in with a punch card anymore. No more writing time in and time out on a pre-printed form. Invest in a web-based timesheet solution for your company today and save time, hassle, and money.