Ordinary timesheets have been around for decades, and whilst they’re undoubtedly helpful, they’re not without their limitations.
In contrast, timesheet software builds on existing positives and introduces several features to further improve the usefulness for businesses.
Peninsula’s BrightHR timesheet software leads the way in its offerings. Contact us today to book a demo, or you can learn more about timesheets by reading our guide.
What is a timesheet?
Whether your teams operate on-site or remotely, a timesheet can be used to help businesses track and record their employees’ working time.
Aside from providing an overview of an employee’s start and finish time, along with breaks and absences, they’re useful for time allocation throughout projects.
Traditionally, timesheets would be physical documents that’d be manually filled in. However, most businesses today use timesheet software for a more efficient approach.
What does a timesheet include?
What’s included in a timesheet will be at the employer’s discretion, but will typically include the following:
Employee details: This could be the worker’s full name or an ID number.
Time logs: Start and end times, breaks (paid or unpaid), total hours across the day or week, and overtime hours.
Project data: Outlines assigned duties and tracks billable tasks.
How does a business benefit from using a timesheet?
Timesheets have several advantages that stretch beyond keeping on top of employees’ hours. Thanks to technological developments, and in particular integrated AI solutions, timesheet software supports companies in several areas, such as:
It helps with accurate payroll
Be it employee wages or client bills, with timesheet software, businesses see better accuracy that they and their staff benefit from.
For example, employeesreceive correct pay relating to their hours worked:
Hourly workers: Ensures all time is accounted for.
Salaried staff: Tracks overtime and factors annual leave.
When it comes to billing, businesses can provide clients transparent records, which helps build trust and strong work relationships.
Improved productivity and efficiency
Data provides a clearer understanding of how much time is spent on specific tasks, allowing businesses to redistribute resources accordingly.
With timesheet software, capitalising on data is made even easier. Detailed insights are accessible, and errors that may crop up with manual data entry are mitigated.
Mobile accessibility is also a key feature that boosts productivity as employees can track their output wherever they are.
Ensures smoother project management
The ability to analyse data with timesheet software also translates to better project management. Throughout projects, business owners can spot obstacles to completion, which ultimately delivers a more efficient approach.
Other advantages include:
Informed decision-making
Continuous improvement
Responsive resource adjustments
Minimises the chances of errors and time wasting
As mentioned, timesheet software reduces the likelihood of mistakes—especially when it comes to payroll processes and billing.
Discrepancies with pay, whether between an employer and employee or business and client, can damage confidence and an organisation’s reputation.
In addition to galvanising relationships and brand image, it also protects productivity, as total transparency deters staff from shirking their responsibilities.
And as discussed, data highlights inefficiencies in processes, allowing employees to adapt and maximise efforts.
What are the different types of timesheets employers can use?
There are various timesheets available to employers and whichever they choose will be shaped by their industry and specific needs. Here are some examples:
Hourly timesheets: Generally used in sectors where employees are paid based on hours, like retail or hospitality.
Timesheets for projects: This is the ideal timesheet for businesses needing to keep an eye on managing costs.
Weekly timesheets: Companies that collect hours on a weekly basis will rely on this timesheet.
Conclusion: What are timesheets and does your business need them?
Whilst there are different types of timesheets, they all act as systems to support businesses track important metrics. That could be specific to employees or a project, but without one implemented, there’s a risk of incorrect payment and poor productivity.
That alone could be strong enough a case to argue that businesses need timesheets. And with timesheet software adding to the existing benefits of paper-based systems, it’s difficult to imagine a company operating without a system in place.
Discover Peninsula’s BrightHR timesheet software
Over 40 years of delivering HR services has enabled Peninsula to develop market-leading timesheet software.
With so much timesheet software available, it’s difficult to know which one to choose. So why not book a demo and find out why ours has achieved a 4.7 Google rating?
