That’s why tracking time is essential. However, your time tracking activities shouldn’t take up the majority of work time. Time is as valuable to your business as money. The two highest costs of using paper timesheets are time and accuracy. If your business is still using paper timesheets, it may feel comfortable to do things the way you always have. However, printable time cards usually end up costing much more than the paper you use to print them. Using paper timesheets lets your employees feel like they have agency over their time tracking instead of being monitored by a supervisor or timesheet software. Printable time sheets are accessible for all employees to understand and use. Many businesses still rely on paper timesheets. To calculate payroll, multiply each employee’s hourly rate by the number of billable hours worked during the pay period. Just click "Copy" to get your own template to edit! Click here: Weekly Timesheet Template
EMPLOYEES HOURS SPREADSHEET TEMPLATE FREE
Here are free timesheet templates you can use to track your employees' time. When creating your paper timesheets, you need to include columns for the following:Īlternatively, you can use free printable templates for your employees. When it comes to running a successful business, timesheets are a must. The Fair Labor Standards Act (FLSA) requires small businesses to keep employee records (including hours worked) for all non-exempt employees. You can also use timesheets to calculate overtime pay for salaried employees if it applies. Employees record their work hours, overtime hours, lunch breaks, and other breaks using timesheets.īusinesses that employ hourly workers rely on timesheets for billing, payroll, and budgeting. Businesses that bill based on time use timesheets to bill each client accurately based on the work done. Management accountants analyze timesheet entries to figure out which tasks require the most resources or delay work. Project managers use timesheets to track projects’ progress and ensure they stay on schedule and under budget. Business owners review timesheets at the end of each pay period to calculate wages for each employee. Here are a few ways businesses use timesheets: Keeping accurate records is an essential function for any business, and tracking time is no exception. Timesheet records can include details such as the task, project, or client that the employee spent time working on. Whenever an employee begins working, a new time entry (or record) is created. Timesheets can be tracked on paper or digitally using a spreadsheet or tracking app.