The Importance of Timesheets
- On 8 June 2023
- Posted by Chantal Mariotti
Time is money and timesheets are an essential procedure to appropriately calculate the number of hours your employees have worked. Many smaller companies will forgo implementing a timesheet procedure and conduct their payroll and attendance using an unrecorded honor system. Regardless of the size of your company, even if you have just a few employees, this type of unmonitored payroll system is NOT recommended.
Timesheets offer protection. Accurate and updated timesheets are legal documents and essential for your protection in the event of potential litigation over unpaid wages or missed meal breaks. If there is an issue with payroll, a timesheet will be needed to verify the employees’ hours. Timesheets are your “evidence” in the event of litigation and provide all parties with a written record that can be used to fairly resolve wage disputes.
Timesheets provide detailed records. Timesheets are necessary for tracking hours, calculating overtime, and double-time when it is due. The timesheet template should indicate the time the employee begins work; the time they go to lunch; the time they return from lunch and the time they leave work. Failure to indicate meal breaks on the timesheet won’t give you the evidence you need in the event of a dispute. Timesheets should be as detailed as possible; always!
Punctuality and attendance policy. Timesheets will also flag those times when employees are late or too early for work, violating your attendance policy. Managers will have the appropriate tools they need to effectively manage their employees’ attendance.
Technology. There are many companies out there that specialize in timeclock systems that track everything you need to know.
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