If you are a small business with limited resources, whether that be time or money, employee time tracking can be an overwhelming task. You may spend hours manually calculating time cards to ensure that everyone is paid correctly. Manual tracking of employee hours takes time away from more critical business operations, but it also leaves you open to potential errors.
Luckily, we live in a time when modern time clock solutions are readily available to businesses of all sizes and at an affordable cost.
How to Better Track Hours Worked
The go-to solution for many small businesses is online time clock software as it provides efficient ways for employers to track employees’ work hours accurately. These time tracking solutions allow employees to punch in and out from any device with an internet connection, making them easily accessible on-site or remotely.
They also generate accurate time cards, including overtime information, which can be easily exported to a payroll provider for seamless payroll processing. This not only benefits your business by reducing the number of clerical errors but helps your employees by providing them with accurate paychecks.
Employee time records are stored in the cloud so employees can easily access their time tracking information from anywhere and anytime. Employees can also request time off, which can go to their manager for approval first. If an employee wants to know how much remaining time off they have, they can quickly check their balance with a few clicks of a button.
Benefits of Online Time Clock Software
Many benefits come with using a modern cloud-based time clock. Here are just a few of the more essential benefits that your business can take advantage of by investing in a time tracking solution:
Reduced Payroll Expenses – Payroll mistakes are quite costly and can add up to a staggering amount over time. While a few dollars worth of errors here and there might not seem like a lot, if these mistakes occur every week, you will quickly see inflated labor costs.
An online time clock allows you to transfer time to your payroll provider quickly. This results in a reduced amount of time spent on processing accurate paychecks. Additionally, since employee work hours are calculated down to the exact minute, you can ensure that you stay within your Labor budget.
Accurate Time Records for Audits – Most business owners don’t anticipate getting audited, but the reality is that it happens more frequently then you’d expect. It could be as simple as an employee making a complaint to the Department of Labor, stating they weren’t adequately paid for their time worked. This is where keeping accurate time tracking records comes in with the help of an online timecard system.
Most time tracking solutions allow you to retain time card information for the duration of the service. In the event, you transition to a different service, all time card information can be easily downloaded and stored for potential audits.
Prevent Buddy Punching – Buddy punching occurs when one employee punches in or out or enters time or another worker that is not working. In many cases, buddy punching is done so that an employee can get overtime pay, which will quickly impact your payroll.
With online timesheet software, you can take advantage of features that allow you to specify precisely how, when, and where an employee can punch time. More advanced features, such as facial recognition, can confirm a user’s identity before the punch process completes.
Conclusion
Online time clock software is vital for small businesses as it helps you keep labor costs low, time theft at bay, and allows you to maintain accurate time tracking records in the event of an audit. Most time tracking solutions offer free trials, so before investing, do your due diligence and find a solution that meets all of your business needs at an affordable price.
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