What is a timesheet?
A timesheet or time sheet is a record of the amount of time a worker has spent on a particular job, project or working for a specific client. A traditional time sheet is a sheet of paper with the data presented in tabular format.
In the digital age, people moved their time sheets to excel spreadsheets. Nowadays the most convenient and popular method for calculating time is using timesheet calculator.
What is a timesheet calculator?
A timesheet calculator is a tool that keeps track of your employees daily work. Working hours as well as their lunch breaks are all calculated in one centralized online timesheet.
Time-calculating tools are important when it comes to calculating pay roll and conducting employee performance reviews. By keeping track of the time an employee starts and finishes work, any breaks they have taken, a timesheet can be used to calculate the employee’s pay for the day, week or month.
Also, a transparent and honest hourly time tracking calculator will help you to accurately measure who is efficient and productive. You will be able to determine your business’ overhead costs and make adjustments in order to grow your business.
How to calculate timesheet?
Online time sheet trackers are one of the simplest and most accurate ways to track your employees work hours.
When employees arrive at work, they will mark the beginning of their shift by stating the time through our online system. Throughout the day, employees will also have the ability to easily clock in and out during their lunch breaks.
At the end of the day, employees will finish their shift again by marking the time in our online system.
At the end of the week, your system’s calculators will bring together all of your employees’ work hours and, combined with the specified hourly rate, calculate your workers’ wages into one convenient time sheet.
You will also have the option to add other factors into your employees time-sheets such as overtime hours and rates, as well as sick days and vacation hours earned. These overview sheets will help you to see your employees work habits at a glance and help streamline the payroll process.
Timesheet Calculator with lunch break and over time
To create accurate time sheets you need to make sure that you use the right software. With MoneyPenny all your employees have access to a time tracker from any device, 24/7. This means that when they are on a lunch break they simply pause the time clock.
If someone needs to work over time, out of the office they can still monitor the time. All the data is stored in the cloud and you have an instant access to it.
What if you forget to start a time clock? Good timesheet software will let you log hours manually. At the end of work day or month they can submit time sheets for approval.
Benefits of using online timesheet calculator
In many cases, managing your time has a direct correlation with managing and expanding your profit margins. Simplify your employees’ hourly wages with MoneyPenny’s easy-to-use online time tracking calculator.
With MoneyPenny, you can save time factoring in your staff’s lunch and other break deductions with our online time tracking reports.
It’s easy to adjust your companies’ productivity with an overview of employee’s hourly trends through-out the day.Access a complete timesheet template and calculator faster! Save time and money with MoneyPenny Click To Tweet
Timesheet calculators help you to make better decisions about your employees work performance. This supervision in turn helps to maintain productive and task-focused office hours.
Combined with the financial aspect, MoneyPenny’s timesheet calculators with lunch and other breaks factored in help you to coordinate different pay rates stress-free online.
Start getting your financial records organized and easily accessible online with MoneyPenny’s timesheet calculators!