Other benefits of timesheets include: Easier payroll processing. The more employees you have, the harder it can be to remember how many hours each one worked per week https://www.harrysbarvenezia.com. And if you pay an employee for less time than they actually worked, you may appear to be stealing wages. Since timesheets make employees’ total number of hours worked readily available, they eliminate many payroll processing challenges.
Transparent internal practices. By having all of your employees use timesheets, you can address a common employee concern that some team members work less and get paid more. By using time and attendance software, your team knows that everyone is following the same rules and that hours are being monitored.
Transparent client billing. If you bill your clients by the hour, there’s always a chance that one of your clients will question the total amount you charged. With your timesheet handy, you can prove that you indeed worked the amount of time for which you’re billing the client. Payment should then (hopefully) be right around the corner.
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Better project management. Timesheets help you better track and manage projects in two key areas. One, timesheets indicate how much time certain tasks require, and you can factor this time into future projects. Two, timesheets show which employees take the least time to perform high-quality work. As a result, you know which employees you should assign for your highest-priority projects.
Workplace efficiency. By identifying your most productive employees, you can improve the speed and efficiency of your operations. You can also save money, since employees who work faster can take on more projects.
Timesheets benefit you, your employees and your clients. They improve the accuracy of your payroll; they implement a transparent, equitable system for employees in tracking the number of hours worked; and they provide data that helps you manage client billing and project management more easily and accurately.