No matter how big or small your business is, it can be extremely challenging to keep track of the amount of time spent by your employees at the workplace as well as the work was done at the end of the day. For instance, if your business is small, then you may be forced to spend hours monitoring what your team has been up to and if you have a large company, then you may need to hire a larger HR team to help with this. To avoid these avoidable hassles and unnecessary expenses, you can use a timesheet calculator for all of your scheduling needs.
Why You Need to a Timesheet Calculator in Your Business
A timesheet calculator is basically a tool that usually keeps track of the employees’ daily work. Here the working hours and lunch breaks are usually calculated in a single centralized online timesheet. The software usually organizes all the worked time into daily as well as weekly timesheets. With this, you can easily track the data, review your employee’s performance and use the information for payroll preparation. Some of the reasons you should implement a payroll calculator app such as the Genio app are;
1. Easier Payroll Management
Most companies and businesses usually spend most of their time calculating their employee’s payroll. For instance, the employees and HR teams usually take a lot of time recording, tracking and processing the time that is spent working every day, week or month. However, by using a timesheet calculator, your business will significantly cut the time that is spent calculating payroll by up to 70 percent. This will enable your employees to focus on their jobs instead of taking much of their time accounting for themselves.
2. Preventing Buddy Punching and Time Theft
Ideally, time theft refers to the aspect of an employee working lesser hours than they are required and it may range from reporting late at the workplace, having longer breaks and clocking out much earlier. Unfortunately, up to 80% of employees have admitted to engaging in time theft at some point while findings have shown that more than 75 percent of businesses usually lose their money to body punching. However, the timesheet calculator usually eliminates this by requiring the exact employee credentials and combining them with biometric features such as a fingerprint or facial recognition.
3. Prevention of Human Error in Bookkeeping
There is absolutely no one who is perfect in their bookkeeping and even if one was using the best computation device, they are still likely to make errors. In fact, findings have shown that even the best typist is likely to make at least one mistake in every 300 keystrokes. Unfortunately, even a single misplaced digit or decimal could result in serious accounting errors that can adversely affect your bottom line. However, a timesheet calculator is an automated module that will ensure that every detail is captured and recorded accurately for greater accountability.
The app can also help in keeping employees informed, reducing reliance on paperwork, and ensuring compliance. Moreover, the system will also grow as your business grows. If you need the best quality timesheet calculator for your startup or fast growing company, the Genio app might just be what you actually need.