Are you moving forward in your systems or stuck in the past? In the past, payroll was calculated with the aid of timesheets. Timesheets are a way of recording the amount of time an employee has worked or spent on each job. A timesheet is a gridded paper which employees had to complete. The employer then uses this information to calculate their payroll. It is the foundation of the wages paid to the staff.
The use of timesheets has undergone many hurdles and trials. Thanks to the vast growth of the digital world, there are now more efficient ways of achieving the same goal through the use of software. Companies have long moved on from the old paper payroll systems to automated software systems for their many benefits.
The Future of Business Payroll
Although it took decades, payroll technology has been perfecting the processes of entry, calculations, and printing of data in businesses. What’s next to help payroll businesses to be more productive? Whether employees use in-house software or a service bureau, a revolution is underway to ensure your payroll solution is available over the Web. Advances in technology must address accessibility of employee’s payroll solution. Using a Web-based payroll solution has many advantages. By working with a Web browser, workers should not have to worry about loading software on their computers. Alternatively, a Web server delivers logic and data required to process payroll to you. Sometimes distributing the payroll process can cause difficulties with actually providing paychecks to workers. Many workers electronically transfer funds directly into their bank accounts, but some still don’t.
Alternatively, a Web server delivers logic and data required to process payroll to you. Sometimes distributing the payroll process can cause difficulties with actually providing paychecks to workers. Many workers electronically transfer funds directly into their bank accounts, but some staff do not have bank accounts. According to some estimates, a higher percentage of the population is “unbanked” employees, some opt for paper checks and frequently pay high check cashing fees as a result. Recently, as an alternative, payroll cards have helped to alleviate some of the problems for these “unbanked” workers. Funds are electronically transferred to an employee’s payroll card account instead of a checking account.
Why Digital Timesheets Are More Accurate
As workers enter time into a digital timesheet, they don’t have to worry about computing their hours for the week or the day, as the software does it automatically for them. Your payroll team doesn’t have to pursue staff and supervisors to let them know that the hours the workers calculated were wrong and they would be paid for more/fewer hours.
It is estimated that payroll workers spend 4-6 minutes, per staff to manually key in a time card and audit. Think about how many labor hours you can save when you use a digital Time Sheet for workers’ time tracking. The digital timesheet also gives you much more accurate time collection data, so you can lower your number of cycle check runs. If your staff already tracks their time with paper time cards or spreadsheets, filling out a digital timesheet will be an easy transition. It’s ideal because you don’t have to email or drive to the office to get new time cards and no one has to make duplicates of the time card form.
With the digital time sheet, employees have access to the latest timesheet, and it’s available anywhere anytime and on any mobile device. We know our staff is never without their smartphones, so it’s easy for them to enter time. Also, you can mount an iPad or tablet as a kiosk for your employees to key in their time. This makes it easier for them to track their time accurately. If employees work a standard schedule, they can easily copy their Digital time sheet from a previous week to save time. No more timesheet auditing, labor hour computation errors or data entry errors with the digital time sheet.
Switching to software for accurate time tracking to be used during payroll comes with a lot of advantages such as saving time and also avoiding errors during calculations. Try Timeero’s time tracking software today to see what a difference it can make in your business.