Why should a business use Timesheets?

Why should a business use timesheets? The question stands valid keeping in mind the plethora of other options and tools you already use. The world is stepping towards a technologically advanced future every day. Business ventures are also a part of this hi-tech progression.

For an enterprise to outshine its competitors, it is essential to keep them upgraded and updated. Digital timesheets are one such technological update which can cause sterling change in the performance of your venture.

Before getting more information about the benefits and features of timesheets, lets first know what they are –

 

What is a timesheet?

Timesheets are a tabulated form of all the essential data with respect to the working and functioning of the employees. It is presented in the form of a data table which can be used by the employer in order to maintain a track of employees individually.

This data covers:

• The amount of hours an employee works.
• The description of their work.
• The time of work appointed and completion.

Business enterprises have been using the method of timesheets for a long time. The only difference is that now they have upgraded to the digital formats from the initial paper based ones. Professionals often get confused and ask questions about timesheets.

How are these timesheets available? 

Timesheets are available on various platforms. Some of the very prominent sources of maintaining time sheets are-

• Software applications

There are a number of software available on the internet and app stores which provide timesheets. These software can help you in tabulating and maintaining employee status and data.

 

 

• Online Time Tracking
  

  If one does not wish to opt for software or an app, the online time tracking can be the perfect choice for timesheets. There are online platforms which provide real time tracking features.

• Google Sheets

This is one of the earliest methods of timesheet management. Time sheets made on Google sheets can readily be accessed and shared via links and Google drive.

Timesheet managements and it’s features 

Timesheets come with a number of features that can help you in managing your team’s performance and their work individually.

Some of the features of Timesheets for Business are –

• Processing Payroll

There are Timesheet Softwares which provide an automated billing outlook for the employer. Timesheets contain data entered by both the employer and the employees with respect to the work allotted to them, the work completed by them, the time taken and the decided compensation.

At the end of a stipulated time period, these timesheet software are designed to provide the final payroll along with all the necessary details.

• Flexible Compatibility 

It is possible that a company provides a uniform operating system to all its employees. But it often occurs that their co-workers use different operating platforms due to their own personal preferences. In such a scenario there are a number of Software options for Timesheet management which are flexible and compatible with different operating platforms.

Juntrax Solutions is amongst such services which provide flexible software facilities which can easily run on various systems like Windows, Linus, Mac OS and IOS.

 

 

• Information Filters 

Timesheets can also assist you in tracking the history of projects with respect to their time, date, allocation and other such information. There are timesheet software options which provide an upgraded filter that can condense required information. You can search and manage data on a daily, weekly, monthly or yearly basis with just a few clicks.

• Support 

Timesheets are a great investment for your company’s performance. But the idea of handling new software and managing its technical aspects might bother you. There are platforms like Juntrax Solutions which ensure technical assistance along with their services. They will not only look after the quality of your product but will also make sure that all your queries are taken care of.

Benefits of Timesheets 

• Time Management 

This is one of the most prominent benefits of using timesheets. With a proper maintained time tracker, the employees can track and manage their time in the best possible way. Timesheets also allow the employer to understand the utilization of time and detect an employee’s assets based on their time taken to perform the appointed tasks.

Time management is a crucial quotient in enhancing your project’s performance. Timesheets ensure that you have an updated record of every minute the employees have spent individually and as a team.

 

 

• Automated Billing 

For projects where you need to pay the employees for the number of hours invested in your work, timesheets are the most convenient option. With the well maintained and tabulated form of time and work, the billing process can be automated depending upon the software or platform you use. This cuts down the chance of errors and at the same time provides easy and hassle free billing.

• Budget Tracker 

With a convenient outlook to detect your expenses timesheets also provide an overview of expenditures. You can also figure out where your team is spending maximum time and plan out job distribution. With a well planned setup of allocating tasks you can utilize employee performance in order to save money and refrain from wasting any of it.

This will also help you identify employees who do not yield a satisfactory income to output ratio. Your overall expenditure can be managed efficiently by keeping a track on these minute points and saving your company’s funds.

Conclusion

Timesheets are a great investment for your business keeping in mind all the features and benefits it is inculcated with. However selecting the right software is the most important step. Juntrax Solutions is a trusted name in the market and provides top notch quality in terms of its services  and range.