Why you should get rid of Manual Timekeeping?

Do you still ask your employees to maintain time sheets with all the information of their work hours and amount of work that they have completed in a day? Are they consistent in doing so? We don’t think so! Working in a technological era, manual time keeping seems like a waste of time! Don’t agree with it? Read on before you come to a conclusion:

Loss of Time

You don’t even realize how much time manual time keeping takes up! Employees cannot manually count each and every second that they spent working and how many seconds they weren’t working or were on a break! At the end of the day, when they prepare your manual time sheet, they’re at a loss of how many hours to include. Why? Because they have no idea how much time a particular task took. All the time spent in manual time keeping can be put into doing something productive for the company instead!

Financial Loss

It is estimated that almost 50% of a company’s budget is lost in incomplete and inaccurate payroll reporting. In tough economic times where companies are looking to downsize, a huge amount of the money is wasted due to this error! Obviously, the element of human error plays a great role here. With no other evidence other than the manual time sheet, companies have to transfer the amount that the employee is claiming!

Accounting Mistakes

Manual time keeping is fraught with error. The larger the company, the more number of people employed, thus the greater the chances of accounting mistakes! Errors in data entry, misapplication of pay rules, and other clerical mistakes lead to overpayment. Manual time keeping does not guarantee an error free system, thus these mistakes can prove to be costly for your company!

Legal Non-compliance

Running a company means you have to follow certain rules and regulations and have to operate according to the country’s laws. Accurate time and attendance records are required by law, thus any discrepancy might lead to legal action. If an employee files a complaint against the company, the Department of Labor is involved to settle the dispute. Thus, you are left with no option than to pay the employee according to the manual time sheet, regardless of its credibility.

Save yourself time and money and get rid of manual time keeping! Make use of online time tracking software – Chrometa! This incredible software helps in tracking time on desktop and mobile devices and creates accurate billable entries! Click here for more information.