Timesheet software helps with control
Timesheet software has developed over the last 10 years or so, and is a useful ally to the wage department, cost accountants and production.
Wage department
There are a large number of companies who employ staff that are paid on an hourly rate. That could well consist of a standard daily rate, an overtime rate, a bonus and a special rate if the person works weekends or bank holidays. These used to be time consuming manual calculations but that is no longer the case with time sheet software. The various rates of pay will be coded into the software so that the pay records will automatically be updated to give a total gross pay, thus ensuring a reduction in time to process a payroll, as well as increasing the accuracy. Also the time sheet software may well allow for the person, if they are on piecework to be able to enter the volume of the work they have undertaken and then the bonus calculations can be worked out.
Cost department
The cost department of any company will look at the labour costs, which are a prime cost and be able to build those into the profitability studies. If you are looking at product costings then you need to know what the labour constituent is, and often that needs to be calculated on a weekly basis. If the work is being carried out on a piecework basis then the number of products manufactured or created will need to be matched to the costs to ensure that there is a relevance to the production schedule, and that the profitability ratio is being maintained.
In a motor main dealer the jobs will all have specific allocated times and the time sheet software will allow for the comparison of a mechanic’s time with the time specified.
Production department
The production department will have budgets to meet that will include a tight control over labour costs and the time sheet software will allow them to track both costs and the number of hours allocated to a job.
Time sheet software allows for greater cost control and greater accuracy in paying staff.
Timesheet software
allows staff to enter their timesheets right in the office. Sage-coretime.co.uk provides timesheet software that works as a powerful project management tool– Visit the site today!
