Timesheets are very vital to the survival of any business. It doesn’t matter what that business is, time worked by employees needs to be tracked so that they can be paid fairly and everyone is happy. However, when using a traditional paper method for recording times, mistakes can happen. If time is not recorded properly the business can suffer. It can reduce the company’s profit margins, or even cause your business to suffer a massive amount of losses. It can cause employees to become unhappy over not being paid the amount of money they have earned, and lead to lower productivity caused by having an unhappy employee base. Timesheet errors can even lead to lawsuits that can cost the company a massive amount of both time and money.
One of the most common time sheet errors an employer can make is allowing an employee to work of the clock or finish work from their home. This can create chaos when trying to manage the amount of time your employees actually spent working. First of all, you have no guarantee that it really took them two hours to complete a task they really could have done in thirty minutes. Another problem is that it prevents an employer from being able to pay the employee the amount of money they have earned in relation to the actual time they spent working. Another common timesheet error is calculations. Depending on the type of time sheet, using decimals and adding can become difficult and problematic. It is an easy error to make when adding multiple time sheets all day long. The numbers can become all jumbled together, or if you’re using a calculator, you can easily press the nine for an eight. This can not only cause you to overpay employees and lose money, but also cause you to under pay them and cause you to have disgruntled workers. Another common error found on paper time sheets is the writing being ineligible. This can cause problems with the math and cause multiple errors while trying to fill out your payroll.
Time sheets are an essential tool for the payroll process. Mistakes made while filling out the payroll can come with many costs for an employer. If underpaid, the employees can lose faith and trust in their employer and their work ethic and productivity levels can suffer. This can cause reliable workers to leave. Errors made in the payroll process can also cost a company thousands of dollars in fees paid to the IRS or in lawsuits.
One of the biggest mistakes made during the payroll process is the task of initially setting up the payroll. If it isn’t set up correctly to begin with, things are only going to get worse from there. Another common error employers make is forgetting to record if they send out paper checks, which leads to failure in keeping up with the amount an employee was paid. Using paper timesheets can cause payroll to be time consuming. Another common error that companies make is failure to finish payroll on time. This leads to employees being paid late and can cause the company costs in legal fees, settlements, and fines.
These mistakes can be prevented by utilizing a program called Clock SPOT. By utilizing their program, your employees can clock in no matter where they are. Issues surrounding ineligible writing and inaccurate time recording are minimized because the program is electronic and uses a GPS tracking system to show where your employees are while they are on the clock. You can adjust the timesheets before you approve them, but the program will do all of the necessary math for you. This prevents problems that can occur from inaccurate addition or subtraction. Payroll mistakes can be minimized through the use of payroll reports and pay slips. This allows you to review the payroll and allows your employees access to their online pay slips at any time. Clock Spot can even help your company manage paid time off and overtime utilized by your employees. They can help with scheduling and auditing as well.
When you utilize Clock Spot for your company, you can increase productivity and lower the risk of making mistakes when it comes to hours and payroll. You can ensure that you are paying your employees fairly for the time they work. It makes things fair for both your company and the employees as well. You will not have to worry about errors in math, reading the card, or the consequences that comes with errors found on timesheets or while processing payroll. Overall, Clock Spot can make life easier for both you and your employees.