Timesheets Archives

What Is Timesheet Management Software?

Have you ever had to keep track of employee hours for a job? Do you need software for timesheet management?

Ever thought of using timesheet software or time-tracking apps? Software such as Smart Hire, Juntrax, Timely, Harvest, Qualtrics, Zendesk Timesheet, and Guardian Workflow manage hours and accurately calculate pay to make planning payroll easier. They also allow employees to punch in remotely via mobile phones or computers. The benefits of using time-tracking software are vast, and they make getting paid much easier.

A timesheet lists employees’ work hours to be filled in at the end of each day or week. This way, you can estimate how much time an employee will take out of your business and how much money those hours will generate.

The application software that controls the hours a person is supposed to clock in and out is called timesheet software or time tracking app. It helps to calculate better hours worked while on the clock and accurately pay employees. It also allows employees to punch in remotely via mobile phones or computers.

Why should one use timesheet management software?

This application is excellent for small businesses tied to the clock because they have to pay the employees on their payroll. It helps companies to save money. A timesheet software program will bring more accurate time sheets and pay to employees faster and more efficiently. This helps control costs.

The primary purpose of time tracking software is to allow you, as a company manager or an employee, to keep track of how much time you work. This will enable you to calculate your hourly rate using the same formula many companies use at home.

Does timesheet management software help?

Time-sheet software is valuable for those tasked with managing other individuals’ work. It allows you to track actual hours worked, present pay and invoices to clients or employers, and much more. This blog post will discuss the features that make timesheet software useful for employees and employers.

You can integrate timesheets with accounting systems to manage your calendar. When employees clock in and out of the office on their smartphones, their time sheets automatically update on their behalf of them. Timesheet software can also document the details of a company’s contracts and many other business affairs.

Whom does timesheet management software help?

For businesses who want to track data from the beginning of the month to the last day, timesheet software can do that for them. It also allows individual employees and managers to stay on top of how their employees use their time. Employees who clock in and out with timesheet software can enter their hours directly, making it much easier than before.

Timesheet software applications have also expanded into the world of freelancers and remote workers. Remote employees can change their hours and take time off as they see fit, while employers can also track everything remotely.

Timesheet software as a tool

Timesheet software has become a valuable tool for employers and employees alike. It provides a way for employers to maintain records of their employees and track how they use their time. Remote workers can clock in and out at any time. In addition, it’s easier for the employee to update their information on behalf of their employer. Timesheet management software has become valuable for freelancers, managers, and office-based workers.

For those who have staff, timesheet software can be handy. It provides a way for managers to track how their employees use their time. Clocking in and out is much simpler than it was before, making it easier than ever for employees to document the hours they work.2

Timesheet management software has grown beyond just being a tool for those in offices. Freelance workers now use timesheet management applications to track their hours, current invoices, and pay stubs to clients. Having a reliable time clock or computer app helps them stay organized on all fronts of the business.

Benefits of using timesheet management software

You are already making use of project management software. It allows you to manage any project, right easily. So why take it one step further and start using a timesheet management software that would help you keep track of the hours your employees’ hours and the hours they will be paid for? Timesheet management software can improve company efficiency, employee motivation, productivity, and retention. Here are some Benefits of using timesheet management software:

Read our blog on Timesheets for more information

Ease Of Use For Employees

A simple timesheet management software is easy to use, and its graphical user interface makes it more accessible. You can spend a little time learning how to use it. All you have to know is how it works and navigate through the menu structure. You should be able to install the appropriate app on your smartphone, tablet, or computer!

Efficient Money Management

You do not need an accounting firm for your business anymore because, with the use of timesheet management software, you can determine the amount of money you will pay each employee and control exactly when they will receive their salaries. You will be able to manage your company’s finances well.

Reduce The Time Spent On Employee Tracking

With the help of timesheet management software, you can immediately track your employees’ working hours. You will never have to call them or send them text messages asking about their current and past job statuses again. You must log in to your account online and look at their timesheets!

Fewer Employee Errors And Mistakes

When using timesheet management software, you will get to know all the details about each employee’s work, so you can be sure that all of your employees are working correctly. There are no lost files. Everything is systematized and right in front of you, where you can easily see it. This means that there will be fewer mistakes being made by your employees because they already have a clear idea about what is expected of them.

Motivating Employees

One common problem with many companies nowadays is the lack of motivation among their employees. They just go to work every day, and that’s it because they know that their bosses never really keep track of how hard they are working or how much time they spend on doing something.

Employee Scheduling & Project Management

With the help of timesheet management software, you can quickly tell which employees are qualified for a particular task and which are not. It will also show what projects they have worked on together with other teammates. This means you can quickly see who has taken charge of what work and how many hours they have spent accomplishing their tasks.

Now that you know Timesheet management software and its importance, why not think about investing in one? If you are a small company with less than ten employees, Juntrax provides free timesheet management software. Management software helps you track the projects in the company and the time devoted by each employee to that project. Simply put, you can not calculate paid and unpaid leaves to generate payroll and do much more. Juntrax is a one-stop-solution to all your HR problems too.

Three Project Strategies Your Company Must Follow To Succeed.

Project tracking is a good idea for any project or goal. It is essential to know how much time you’ve spent on who your teammates are, what the project is about, and how many hours it will consume. Project tracking helps you plan for the future when you know what needs to be done and when. It also lets you keep track of feedback from your clients or other people involved in the project so you can stay current with their requests and needs.

There are various ways to make a project chart like this: pencil and paper, Excel spreadsheet, Visio diagrams, or even just an Excel scatter plot chart that needs to be tied down in a neat grid format. However, none of those solutions are as versatile or portable, and none can be accessed with a wide range of devices and operating systems. To make the most of your project tracking needs and get the most use out of your time, it’s best to use a cloud-based platform that can be accessed anywhere at any time. But before hopping in, let us understand what project tracking is and how it has made lives easy.

What is project tracking?

We’ve often seen the question, “How do you know what project to work next?” and we have the answer. Project tracking is a system that helps us prioritize projects by allocating our time and resources only to have one project at a time in progress. This means that you can track both revenue and expenses every week, which calculates how much money is left in the budget so that we can then determine how much of it should be allocated for future projects with similar or better profit margins. This allows you to see what projects will yield future profits and which are not worth pursuing any further.

Project tracking helps us keep track of budgets, deadlines, and the general status of each project so that we can be aware of what’s going on at any given time. It is important to note that you should track your project’s financial information and find a way to track the project’s time spent and errors and bugs in the website/app. This will give you an accurate account of how much time and resources were spent on each project, how much money is left after all expenses are paid, and how much profit was made from all of these projects. Before reading the strategies, let us take a quick look at the benefits of project tracking.

Benefits of project tracking:

Time management:

This is one of the most critical aspects of project tracking. If you track only a few projects simultaneously, it’ll be easy to manage the amount of time allocated for each project. Tracking dozens of projects at a time manually could be tedious and time-consuming. There can be chances of many projects overlapping, mainly impacting the workflow.

Time assigned to different projects:

Some tasks are more critical than others; tracking how much time we devote to each one will help us figure out which ones are worth doing first and which we should focus on next

Accurate P/L:

Analyzing accurate P/L is the foundation of any business, and project tracking helps us know what each project could make in revenue. If you know how much time and resources are spent on each project, deducting the profit percentage from the time and resources invested will be easy.

Accurate expense:

Accurate expenses are also crucial for a business’s operation. As mentioned earlier, costing out each project aids in assessing the profit generated from the invested time and money. Analyzing the time and money invested enables the determination of each project’s profitability.

Savings in the long run:

Calculating profit margins for various projects assists in determining future budget allocation for similar projects. Additionally, it aids in budget monitoring and adherence to financial boundaries established by the CFO or assigned team member overseeing business expenditures.

Budgeting:

Project tracking helps us determine the best way to manage finances and budgets, especially when they are in flux or under constant change. This can happen when a manager changes or if different business areas need more funding. Even though some managers prefer to keep costs down, this sometimes puts other parts of the company at risk.

Trend analysis:

By tracking multiple projects, we identify profitable endeavors worth pursuing further and those not yielding profits. Analyzing trends helps determine project costs in time and resources, providing accurate profit vs. expense breakdowns.

What is the best way to track projects?

Over the years, we have found that there are different ways of tracking projects. The key is to consider what stresses you will be under and how much time you want to allocate to each project. You can do this by using different types of project tracking tools. For example, Zoho, Scoro, Juntrax, Monday.com, etc., are fantastic tools. The advantage of each software is that they have different functionality. For example, with Juntrax, you can list all the active projects, their team members, billing rates, and tasks on one screen.

Some of the most common ways businesses use are:

The Pomodoro Technique: One of the most popular time management techniques, it is also one of the easiest to implement. It involves working for 25 minutes and taking a 5-minute break. It is perfect for those who have a lot of tasks to do in little time, with no stress or pressure to perform. This will make you more productive, and it’s straightforward to follow.
The Eisenhower Matrix: If you don’t like the Pomodoro Technique, this technique is proper for you. The Eisenhower Matrix analyses your tasks and places them on a matrix. This way, you can mark the priority level as high, medium, or low. The objective is to get important things done first. This matrix strategy is appropriate for those who have many tasks but are under pressure to complete them quickly.
Henry L. Gantt designed the Gantt Chart, enabling a comprehensive view of project management. Utilize this chart for small projects within set timeframes, aiding in stress-free and efficient tracking.

Also Read: How Workflow Automation reduces employee burnout and stress?

Three project tracking strategies to get more Business

Tracking projects is necessary for any professional services company. There are many approaches to this, with varying levels of complexity and functionality. To help teams stay organized and avoid late-night story time, here are some strategies:

Workflow automation:

Workflow automation is a game changer in achieving project efficiency. Rather than manually creating tickets for every task and monitoring each access’s progress. Ticket automation can save time and create a more efficient workflow.

Workflow automation can take many forms. JIRA is a bug-tracking software that enables the creation of workflows. This can come in handy if the project has multiple teams and members. Juntrax has timesheets to monitor projects and keep records of time taken by employees.

Mobile Application:

It is necessary to have a mobile application to track time and projects quickly. Having a dedicated mobile application will increase productivity, as you can easily access the system anywhere without a laptop. It is a perfect solution for all the people working remotely to connect with the teams. It also keeps all members on the same page. Employees can easily track due dates and update timesheets for you to glimpse easily.

Effective communication:

One significant contributor to a successful business is efficient communication. Especially today when companies follow a new hybrid model. Everyone must be clear about the goals and responsibilities of the business. Accessible communication is possible when you have the right tools to support it. Tracking tools help a lot in bringing transparency to the company. You will save time and energy with the right tools regardless of your project management style.

Choosing a platform is another challenge. Plenty of free services are available if you have a few projects at once. However, if you have more than one ongoing project at a time and are doing actual work for profits. It’s worth paying for the service. Juntrax’s services are free of cost if you are a small-scale company with less than ten employees. Apart from this, Juntrax is a one-stop platform for all your business needs. You can create timesheets, manage workflow, generate payslips, create automated invoices, and manage onboarding all in one place.

4 Most Popular Questions Professionals Ask About Timesheets

Timesheet Management

Learn how AI powered timesheets can help your employees be more productive and your organization more profitable

“Timekeeping is stuck in the 20th century. It’s basically a digital version of an analog method. Right now is the perfect time to reimagine how it’s done.

– Nick West, Chief Strategy Officer at Mishcon De Reya

Introduction

Time tracking is a major problem well recognized by most CXOs across industries and yet timesheets rarely get a lot of good press among employees. Who likes to sign tons of papers just to “prove” that they had put in a certain amount of hours in a certain project. However, timesheets, when seen from an analytical perspective, can be truly beneficial for both managers and their team members. The key is to choose the correct solution for your group, set up processes you can follow intuitively, and bolster it with progressing communication. In this article, I will share provocative reasoning as to why you need timesheets and a couple of examples of how AI can make time tracking easier for the employer and less painful for an employee.

Top 3 Tips To Efficiently Manage Offices In Multiple Locations

#1) What are timesheets?

Professional services are a billable hours-driven industry. It would be handy if we knew how much time is spent on project and by which resource. Timesheets contain pre-formatted fields in which daily tasks performed by each employee are filled. It not only helps Project Leaders and HR Managers, but it also helps the employees plan their day better. These timesheets when analyzed over a period of time helps us understand the current status of our projects as well as predict future manpower and cost requirements.

2) Are employees wasting time at work?

It is easy to complain that your employees are not working hard enough, however having the option to back that up with real insights is invaluable.

A recent study from sample aggregated form similar companies shows that:

• 65% of the employees waste 1 hour or less per day

• 25% of the employees waste 2 hours or less per day

• 10% of the employees waste 3 hours or more per day

Statistics even show that those born in the 1980s waste almost 4 times as much time as those born in the 1940s. Some may even extrapolate that with access to so many distractions and short attention span millennials waste the most time.

But who is to confirm such in-the-air judgments? A professional time-tracking solution helps bring accountability and drive maximum employee productivity.

3) How Artificial Intelligence can optimize time tracking?

Employees would rather take the time to justify a list of things they would want to do instead of filling out their timesheets. Make filling out these mundane things easier for your employees by using AI.

Here are some of the features that are most desired from AI powered timesheets:

Location-based time-tracking – A GPS sensor-enabled smartphone helps the automated time and attendance tracking of in-field personnel. This solution applies to all professional services companies that deploy manpower on client sites and also to organizations that deploy feet-on-street sales professionals.
Time spent on apps tracking – In our daily work, we often switch between applications and websites according to tasks. How much time did you spend on going through emails? Or attending meetings? Or graphic designing a new ad? We need to measure it to find out hours spent on each channel against business impact made.

Are Disconnected HR and Professional Services Automation (PSA) Softwares Hurting Your Employees’ Productivity?

4) What is the use of timesheet data?

Imagine a company with hundreds of employees where everybody working on multiple assignments and managers are responsible to control revenue, expenses, profit, capacity, utilization, and other metrics. Easy access to the daily fresh data about professionals’ hours is the major component controlling these parameters and forecasting future business growth and making correct decisions to your business now.

Business analytics and reports are required from timesheets for any consulting or professional services firm to accurately bill their customers. On a weekly or monthly basis, managers need to prepare performance reports answering such questions:

What is the current state of a project?
What will occur in the event that we roll out these improvements for the group?
How do project execution timeline, expenses, and billables impact the profitability?
How have past decisions affected KPIs?

Answers to all these questions can be provided by timesheet data.

Conclusion
Typically, a Timesheet module integrated into a cost-effective Office Management Solution like Juntrax is ideal for SMEs and startups. A good timesheet report would provide project-wise and team-wise time and cost analysis. Juntrax also offers to manage your project billables and invoicing on a single integrated platform. The benefit of tracking such man-hours is better project planning, cost planning, productivity analysis and predictable project deliveries. In essence an integrated timekeeping module increases employee productivity and company profitability.