What is a Timesheet?
A timesheet helps employers track their wages. Management, accounting, and human resources departments use timesheets to calculate total hours worked and pay employees. Most commonly, timesheets are associated with time clocks or time cards.
Timesheet management software is a valuable tool for project management. It allows businesses to keep track of their time and ensure that projects are on schedule. Timesheets are also helpful in managing expenses, capacity planning, project planning, and estimating team availability.
Arion ERP combines timesheet management and cutting-edge software for project management to create a tool that can handle all your project tracking customer demands.
What is Timesheet Software?
Software that creates timesheets can be called a timecard calculator, time clock calculator, payroll hours calculator, or work hours calculator. These terms describe software that allows you to create timesheets, clocks, or time cards to track your employees' billable hours.
Payroll is streamlined by using timesheet software. Modern software has also evolved to include features to track how long it takes to finish each task, which helps project managers stay on schedule.
Timesheet software can monitor and track nearly all project schedule management aspects. The software can track more than just the time a team spends on a particular task. It can also keep track of schedules, resources, and other variables associated with task completion.
The management of timesheets is essential to the success of a project. Arion Erp's timesheet management needs to accurately monitor time spent on projects to keep costs down and to stay on schedule.
Your project team will benefit more from the key feature of the timesheet program that does this well. The timesheet system has a payroll process for managers which is more accurate in comparison to traditional methods like time clocks and time cards.
Types of Timesheet Tracking
There are three main types of timesheet arrangements used by companies today. The three main types of timesheet arrangements are:
- Recording and clocking out on paper or manually.
- Spreadsheet programming, such as Excel.
- Designed time-tracking software.
In many workplaces, paper-based frameworks for recording time and manually clocking out have fallen out of favour. This framework is only suitable for companies that need to log essential hours. This timesheet solution is unsuitable for organizations requiring data analysis or automation. They include things like punch cards, registers, and other similar items. In most modern companies, software solutions are gradually replacing paper-based frameworks.
Spreadsheets are still popular for timesheet arrangement due to their ease of use and low cost. Additionally, they offer some automation and analysis functions related to information. Excel is the most commonly used spreadsheet software. Spreadsheets are famous for their timesheet solution.
Spreadsheets have a significant disadvantage in requiring a high understanding of the software and needing more data analysis tools. This is compared to software designed specifically for this purpose. Online time tracking software. Although these software packages can be expensive, they offer many benefits beyond the frameworks.
Software is the most popular timesheet system in business today. Software designed for timesheet purposes can handle a wide range of tasks. It can also automate many tasks that an HR department may perform. Timesheet software is capable of everything. It can clock in and out, log work hours, run payroll, and perform data analysis.
Online Timesheet Software V/S Traditional Timesheets
It is essential to monitor team time. However, is it worth investing in an online timesheet program, or would a simple spreadsheet be sufficient? Smaller organizations that don't have many employees to track could use printable time sheets or time log sheets. When an organization grows, the complexity of paying its employees properly increases.
Customization
Online timesheets are more flexible than the traditional way of logging hours using time sheets and cards. Their customization can be done in accordance with the needs of your company. Payroll is different for every organization. They work in other areas and have additional requirements. These organizations can track their timesheets more accurately with online timesheets.
Reporting
It's important to note that printable or electronic timesheets created on Google Sheets or Excel are data islands. They are helpful but don't go beyond the basic need of a Timesheet. Online timesheets are different from the usual time sheet. They have a central repository that can generate reports and give managers a better understanding of their group's performance.
The Security of Your Own Home
An online timesheet program tends to have an electronic lock, which holds the software. Anyone can change the data stored inside. The manager can bind the timesheet to ensure it is precisely what they see. No one can edit the numbers.
Simple Access
The time sheets themselves should be sent electronically, too. Software for online timesheets is available anytime and Anyplace. If you manage a group of people who work in different time zones and areas, you can have them sign their timesheets when they need to be updated. They will expect you to send the timesheets to someone other than them.
It only covers timesheets integrated with more comprehensive project management tools and updates automatically as groups change their status. Online timesheets are the future of labor.
How to Make a Project Timesheet
There are several ways to build timesheets and use them. A physical paper timesheet is the easiest. Using a paper-based timesheet to calculate hours can save costs but introduce problems such as lost timesheets or difficult-to-search archives.
You can create electronic timesheets in Google Sheets or Excel with task management, projects, billing, and programs. Excel timesheet templates save time and streamline the payroll and time business processes. However, it can be inefficient as it takes more time to input data and move the timesheet from department to department. The ideal tool for creating a payroll timesheet is a timesheet calculator. You can create a timesheet by following these easy instructions using our timesheet software.
Create A Work Schedule
It's essential to make a schedule prior to calculating the hours your employees work. When you know what your employees are working on, creating timesheets is much easier. You can start building your schedule by listing the tasks you need to complete in the next few days, weeks, or months depending on which type of timesheets you use. Arion's ERP allows you to use different tools to manage your work, such as Gantt charts, Gantt boards, Gantt lists, Gantt charts, Gantt charts, Gantt boards, Gantt calendars, and Kanban boards.
You Can Assign Tasks To Your Employees
It would help if you now gave your employees' duties to them. In the software, invite team members to the project. Your email will inform them that they have been added. The timesheet calculator automatically calculates the work hours of team members and keeps track of their labor costs.
Track Employee Work Hours
Each team member is responsible for tracking how many hours they spend on a particular task. The timesheet is used to collect this information. Log the hours for each job or on your timesheet. Click auto-fill and all your tasks will be pulled in. Give your staff hourly pay so that the program can determine labor costs based on the number of hours they put in.
Select A Timesheet Approver
Assign a team member to receive timesheets. This person will ensure that the hours billed match the tasks performed. Click the Manage Users tab and choose an approver. The team member can then send this person their timesheet for review. This person will be a gatekeeper between payroll/human resource management features and employees and oversee the approval process.
Review And Approve Timesheets
Managers Can Be Alerted When Timesheets Have Been approved and locked once they are. This creates a smooth payroll process, saving time and money. Arion ERP, for example, allows you to print timesheets using online time card calculators. A large part of the Arion SAP timesheet process is automated to save time and improve efficiency. Someone still needs to check the timesheet before it is sent to payroll to ensure it's accurate.
Reviewing your timesheet before submission after the required time (usually weekly, biweekly, monthly, or bimonthly) has passed is important. Click on time in the main navigation menu to view the timesheet. Select the week that you wish to review.
Share Timesheets & Workload Reports With Clients And Stakeholders
Reports are a great way to track your time after your approved timesheet. Reporting can be used to examine your data and identify bottlenecks and discrepancies. These timesheets are also a vital tool to keep stakeholders informed.
To gain more specific information regarding progress, reports can be generated from the timesheet data of individual users or particular projects for a given date range. You can customize and distribute reports in PDF or spreadsheet format for stakeholder presentations. Over two million projects have used the reliable and well-regarded timesheet management ERP. Your next productivity level may be unlocked using our reliable timesheet software. Suppose you need to prepare to use the automatic time card. In that case, you can calculate your work hours using our Excel timesheet form.
What Information Should be Included on a Timesheet
Your timesheets must include the following information, regardless of whether you use time clocks, cards, templates, or software to manage them:
- Name of User: It is the name of the person who fills out the timesheet. Managers can access employee timesheets to check if they have correctly logged their billable hours.
- Date: Weekly Timesheets are the most popular. You can navigate the calendar using the date field to enter your time.
- Project: Timesheets are grouped by project to help the user see what they are recording at a glance.
- Tasks: A list of the tasks assigned to a user that still needs to be marked as completed.
- Copy last week: You can copy the tasks from the previous week into the timesheet to save you the trouble of entering them each week.
- Days Of The Week: All the other columns of the timesheet display the days of the week. Mark the hours you worked for each task with the correct day. Some projects may require daily sheets listing the jobs completed on a given day and other details, such as the hours worked and the clock-in/clock-out times.
- Percentage Completed: View the portion of your tasks that are complete.
- Auto Totals: The columns and rows will total automatically so that you can see how many you have worked on a given task or day in one glance. Both employers and employees can use this tool to calculate total hours worked; regular hours worked, overtime hours worked, and double-time hours for payroll purposes.
- Submit: If a timesheet has been assigned to an approver, it can be sent directly to them for review. Online timesheets make it easy to share them, while printed timesheets may be handed out in person.
- Notes: Add comments or upload files to the timesheet entries to remember what you were doing and why it took more (or less) time than expected.
Why Are Timesheets Used?
Employers use timesheet software to calculate the number of hours that employees should be paid. Businesses or project teams use them in every sector to process payroll. These two usages are the most frequent ones.
Timesheets, Payroll & Client Billing
The timesheet is essential for the billing and payroll process. Employers use timesheets to keep track of employee work hours and accurately pay their employees. Managers must consider many factors when creating a timesheet, including the employee's time card, the pay period, the hourly rate, and other variables, such as regular hours, overtime, mileage logs, etc. Timesheets may be submitted on a weekly, biweekly, or monthly basis.
Non-exempt employees are the most likely to use timesheets, allowing employers to track and pay for hours worked while complying with federal and state regulations like the Fair Labor Standards Act.
Timesheet compliance is used, and standards vary depending on the regulatory entity and industry. Timesheets are an excellent tool for firms that bill clients regularly. They can track the billable hours per client.
Timesheets are essential for many reasons. They can help you reduce costs by reducing inaccuracies in your invoices, tracking the time spent by employees, and using that information to adjust roles and improve performance. By providing detailed records, they act as a protection against potential litigation.
Project Management and Timesheets
Timesheets still exist to keep track of time. Their utility has increased with the advancement of project management tools. Timesheets have become a versatile tool for tracking time. The modern, knowledge-based project management profession necessitates the tracking and real-time processing of massive volumes of data, including time spent on activities. Some project teams in agency or consultancy settings use this information to bill for their time on projects.
Arion erp managers who are clever use online timesheets to optimize and improve their business or projects. Timesheet tools are valuable because they allow you to easily see what your team is doing at any given time and if it is being done correctly.
You can quickly identify the following:
- Who is involved in what?
- What are the remaining tasks?
- What tasks will exceed their scheduled time?
- Who is busy?
- Who doesn't record many hours but may be able to do more work to maximize the team's availability
- Valuable data for planning capacity and tracking expenses
Timesheets and Construction
Managers of construction ERP timesheets must record each action that occurs there. This covers both their in-house construction crew and any potential subcontractors.
The timesheet calculation in Arion ERP is excellent for managing construction projects because it can be used in conjunction with other tools, graphs, project calendars, and task lists.
Timesheet Software: Benefits and Use
It's essential to keep timesheets for your team. But is it worth the investment in a timesheet program, or would a time clock calculator, a time card calculator, or a time tracking spreadsheet be sufficient?
A small business that doesn't need to track dozens of employees may only require printable timesheets, time log sheets, and time cards. Once an organization grows, the complexity of paying employees properly increases. Following are timesheet management software benefits that an organization enjoys using it.
The Timesheet Software is Customizable
Online timesheets are more flexible than traditional time sheets and cards. They can be customized to suit the needs of your company. Payroll processing is different for every company. They work in various industries and have additional requirements. These businesses can track their timesheets more accurately with online timesheets.
Timesheet Software for Reporting
Data islands are the problem with timesheets that can be printed or electronic ones made in Google Sheets or Excel. They're functional and don't provide more than the basics of a timesheet. On the other hand, an online timesheet has a central repository from which managers can generate reports to give them insight into the work of their teams and to track time spent on projects.
The Software that Generates Timesheets is Secure
Online timesheet software can be locked electronically to prevent anyone from altering the data. After a manager has approved the employee's timesheet, they can lock it so that the information received at payroll matches what the manager saw. No one is allowed to change the numbers.
Easy Access to Timesheets for Employees with Timesheet Software
Even digital copies of timesheets must be transmitted electronically. Online timesheet software can be accessed anywhere, at any time. You can have teams that work in different time zones and locations log into their timesheets when they want to update them.
It's not even a question of integrating timesheets into a project management software that can automatically update as teams send their updates. Online timesheets are the future of work. They need to be a complete dismissal of the traditional timesheets from yesterday.
Conclusion
The time sheet is essential for payroll and billing clients. Timesheets are used by businesses to pay their employees accurately. Managers should consider many factors when creating a timesheet, including their representative's timecards, the payroll interval, the hourly rate, and any extra hours.
Online Project management software is a significant application of time sheets. Businesses are increasingly using time sheets to cost and assess activities. Managers can also compare the planned and actual costs of various project tasks and future projects.
The timesheet has evolved from just a simple way to provide payroll information. The same real-time data used to pay employees reasonably can be equally helpful when creating business strategies-electronic timekeeping systems, whether desktop or online timesheets, help organizations manage payroll and work hours. Get in touch with the best timesheet management software services provider.
