Benefits of Time Sheet for Employees
Tracking time for employees’ work hours may seem easy, but the task is tedious and monotonous. A timesheet is a physical or virtual tool that helps an employer keep track of their employee’s work hours. With a proper timesheet, you can exactly track how much time an employee has spent on working.
The main purpose of a timesheet is accounting, payroll, and human resource management. Timesheets are like a spreadsheet that provides all the time entries required to reasonably pay employees. They can offer proof of the work if you have not yet found any similar approach. Timesheet can also help you analyze any time management problems by keeping track of the tasks done by your employees and the time they took to fulfill them.
How does it work?
Employers use a timesheet to chart working hours, vacation time, and accruals and make payroll changes. The rates of pay shall differ according to the employer. You can record time on a weekly, bi-weekly, monthly, or bi-monthly basis. These days, electronic timesheet software and apps allow workers to submit their timesheets electronically to their supervisors for approval. And after approval, human resource can process the data and payroll for the employees.
Timesheet is valuable to record time and working hours of employees. This recorded data provides reports to supervisors to analyze. It will show the hours of labor available for particular roles and tasks. This knowledge helps with scheduling, assigning tasks, and determining staffing needs.
Why Use a Time Sheet?
The value of employee timesheets is something that any company should recognize. This method of time tracking provides a clear balance of employee numbers and productivity levels. The versatile use of timesheets does far more than payroll estimates. This method of monitoring employee time is useful for accounting management too. Managers may record start and end times for projects, and recognize difficult ones that can delay project completion. For various projects, a thorough description of each job is also helpful.
Timesheet can be helpful in a project-based environment. Employers use timesheet for costing and estimation of the project. Additionally, administrators can measure expected costs for different projects and programs to actual costs.
You can simply use spreadsheets as a timesheet to track the employee’s working hours. MS Excel, Google Sheets, or MS Word are good choices. You can also use automated software or apps for the same purpose too. Automated technology makes reporting, keeping track, and adjustment easier from anywhere and anytime. Using an automated time tracking tool like CleverGo can help you keep track of anywhere and make reporting easier.