subject: Different Layers of Timesheet Management [print this page] Different Layers of Timesheet Management Different Layers of Timesheet Management
Timesheets are pretty simple. Whether you physically punch in or you merely jot down your hours, it's all pretty basic. You're accounting for time that you've worked. However, this seemingly simple process affects more than just your paycheck. Timesheet management has a ripple effect on the entire company, believe it or not. Timesheet discrepancies can lead to overbilling, under-billing, and employee fraud. Whether these discrepancies are intentional or not, they can have grave financial ramifications.
Typically, when you read about timesheet management and timesheet software, you read about preventing employee fraud. Most writers will tell you timesheet software keeps employees honest and your billing more accurate. Well, duh. Common sense will tell you that much. What I'm interested in are the other benefits employers reap from implementing timesheet software. How else does it streamline their operations?
First and foremost, timesheet software benefits a business environmentally. Paperless timesheet management is beneficial to the environment as well as the company's finances. But, additionally, timesheet software allows employers to calculate wages, taxes, overtime pay, and more. This automated process frees employers up to deal with the more common issues associated with timesheet softwareemployee productivity, time management, etc.
As you can see, the act of filling out a timesheet sheet stretches much further than your paycheck. Timesheet software plays a major role in how employers run a business. It helps them determine wages. It relieves them from worrying about taxes. Basically, it frees them up to run a more efficient business. In actuality, that simple act of logging your hours is only one layer of timesheet management.
