If you run a business, chances are you have employees who need to track their time worked. This can be a real pain, especially if you don’t have systems and processes in place to make it easy for them. Automated timesheets are here to the rescue!
Timesheet automation can change all that. With timesheet automation, your employees can easily track their time worked using an online timesheet system. This can save you loads of work in having to chase up timesheets and keep track of hours worked manually.
Timesheet automation can also help you to more accurately calculate payroll, as well as get insights into how your employees are working and where they are spending their time. This can help you to make better decisions about staffing levels and allocation of resources.
A thriving services business depends on automated timesheets. The secret to reducing time to revenue is time and expenditure automation.
You can swiftly adjust resource tactics to help support your clients and boost project profitability when you have accurate time monitoring data.
The Importance of Timesheet Automation for Your Services Business
The benefits of automating your timesheets are many and varied, but here we will focus on the importance of automating your timesheets for your services business.
Your staff can focus on important projects and tasks since automation accurately keeps timesheets. Managers can track expenditures and make necessary changes by accessing the needed data.
Thus, automated timesheet software might significantly impact your company.
The simplicity of a centralized solution will immediately become apparent if your staff is distributed across several remote areas, operating from customer sites or their homes. As cost accounting becomes more effective, overhead costs decrease.
- Team members have a better memory of time spent on particular tasks when it’s simple to record what they’ve just completed or log their daily activities after each day.
- Managers may evaluate and approve the data simultaneously, or they can ask for clarification.
- Workers can now record time data while on the go, thanks to the technological advancements that have made mobile devices like smartphones and tablets more accessible.
When these processes are automated timesheets, employees are given more time to work on essential work, and the need to clock in and out of shifts is reduced.
How timesheet automation benefits accurate billing for service companies
If your service company is still using manual timesheets and paper invoices, you could be missing out on significant billing accuracy benefits that come with timesheet automation.
Lower administrative overhead :
With online timesheets, there’s no more need for chasing paper timesheets around or dealing with the headache of lost or misplaced sheets. Everything is stored securely online, so you can access it 24/7 from anywhere.
Adherence to corporate guidelines :
Automated timesheet software can help ensure that your employees are adhering to company guidelines when it comes to logging their time. This can be particularly helpful if you have employees working remotely or in different time zones.
Automated approval process :
With online timesheets, you can set up an automated approval process so that managers can quickly and easily approve timesheets without having to wade through paper copies. This can save a lot of time and frustration on both sides.
Automated invoicing process :
Finally, perhaps the biggest benefit of all is that you can automate your entire invoicing process, from start to finish. This means that once a timesheet is approved, it’s automatically sent to your accounting or billing software to be turned into an invoice. No more manual data entry or mistakes!
How do Automated timesheets work?
After each billing cycle, each resource must complete and report its timesheets to determine the chargeable work for each client. These automated timesheets may frequently be completed days later, making the information less trustworthy.
In addition, employees despise the procedure of completing timesheets. Validating each entry and receiving manager approval adds another layer of difficulty. The time data must then be processed and made ready for billing.
As you can expect, this procedure relies substantially on manual intervention, which makes it incredibly error-prone. This eventually impacts your billables.
Use a cloud-based time tracking application to automate all timesheets, one of the best time tracking suggestions you can get.
Juntrax provides an efficient timesheet system. The employee and the employer can obtain data through their automated timesheet management system in a tabulated way.
Both parties know the billable hours, work completed, and other related details because this data is utilized to execute payroll. This creates system transparency and facilitates improved administration-employee communication and understanding.
Let us look at a few points to help you better understand how timesheet automation helps business services.
- Integrated and Accurate Payroll
Payroll is a critical part of any business, and accurate payroll is essential to keeping your company compliant and running smoothly. Integrated and accurate payroll helps businesses by:
- Ensuring compliance with government regulations
- Reducing the risk of errors and inaccuracies
- Providing detailed reporting for insights into your business
- Determine the requirement for training
Automated timesheets are able to take the information that is inputted by employees and determine the requirement for training. This can be a huge time saver for businesses, as it can help to quickly identify areas where training may be needed.
Additionally, automated timesheets can also help to improve accuracy by ensuring that all information is inputted correctly.
- Review qualifications
You may keep tabs on how successfully your staff performs work by using timesheets that record tasks within a project. This helps you determine whether a particular individual is a suitable fit for a new task, position, or job.
- Eliminate manual data entry
A manager’s workload is lighter thanks to a cloud-based time tracking system that eliminates the need for manual data entry. Coordination between manager and employee between emails is removed with our internal notification system.
- Create a database of past events
Automated timesheets give actual numbers to typical chores that you can use as a reference for the following initiatives. For instance, testing took your personnel an average of a week in the last three projects. After that, you can apply that knowledge to enhance client communications.
- Tasks cash flow
Automated timesheets can help improve your business cashflow in a number of ways. They can help you keep track of employee hours worked, invoices and payments. This information can then be used to better manage your payroll. Automated timesheets can also help you save time by eliminating the need to manually input data.
- Boost your estimations
You can provide your clients with more precise time, cost, and resource estimates by using the data you collect from your timesheets. Juntrax provides a feature to track time by project and task which helps in determining actual time spent on a project from what was planned.
This feature provides the ability to plan future tasks and projects more efficiently. Additionally, it can help managers see if employees are working on the right tasks and using their time effectively.
- Develop speed
Automated timesheets can develop speed because they are less likely to have human error. If a company is using an automated system, it can input the number of hours an employee worked into the system. This would be more accurate than if an employee wrote down the number of hours they worked and then an employer had to input that information into a system.
Also Read: What is the future of work?
Conclusion
Automated timesheets are an essential part of employee management. Without them, managers will have difficulty getting accurate project times and budgets. With the use of online software, automation becomes easy and it is not complicated for employers to use such software.
Juntrax Solutions is a leading provider of SasS based Integrated HR, PSA and Finance software- an all-in-One solutions for small and medium sized enterprises. Our software automates the process of recording attendance, tracking time, and billing customers accurately and quickly. Juntrax is perfect for service companies that want to improve their accounting accuracy and efficiency.
Juntrax.com is an online tool that helps you keep track of your work hours and automatically generates timesheets. It’s a great way to manage your time and make sure you’re getting the most out of your work day. If you’re looking for a way to improve your work life balance, Juntrax.com is a great option.
