How to Avoid Timesheet Mistakes (FREE Timesheet Calculator!)
Oliver, a manager at a local restaurant, is doing his payroll. He has 30 employees working different shifts at different wage rates. They had to do overtime a couple of days because the restaurant was pretty busy. A couple of people missed their shifts and he doesn’t know why. They have a time clock, but it crashed last Wednesday. Lucky they have a logbook for the employees to sign, right?
Oliver settles in for a long day of encoding clock ins and outs, and calculating pay. He takes the tips into account. He has to make sure everything is right because wage theft can get them sued. He barely leaves his office to check on the restaurant that day. He goes home well after hours to make sure the employees are paid on time. Sounds familiar?
Many managers in Australia go through the same tedious process every single pay period. Encoding different information from various sources and calculating the correct pay takes time and money. Spending a good chunk of your administrative resources on doing the payroll can certainly make a dent in your overall profits. So how do you cut the process down and free up your managers’ time to do more important tasks instead?
1. Have a reliable time clock
The biggest hurdle in creating an accurate timesheet is unreliable attendance records. Traditional punch clocks are prone to time theft. Buddy punching, time clock deception, and extended breaks cost companies millions. Even inaccuracies that are not malicious can add up over time. Investing in a reliable time clock helps insure companies against this. While some companies still use inefficient fingerprint scanners, most forward-thinking ones use electronic time clocks with a photo verification feature.
2. Use a timesheet calculator
A timesheet calculator is the easiest way to manage the hours your staff is working. You only need to enter the hourly rate and start and end time of your employees. This free online timesheet calculator will work out the total amount of hours worked and the wage amount for your staff. You can even factor in the breaks they take during the day. So put your calculator away and let the online timesheet calculator do some of the work for you. Add as many employees as you want and print the results when you’re done.
3. Invest in automation technology
Having a reliable time clock and using a timesheet calculator can only get you so far. While these automate some processes, you still need to do a considerable amount of administrative work. If you have reliable time clock records but they don’t produce a timesheet, you will still need to transfer that data. This can lead to costly mistakes down the line. If you have a timesheet but it can’t be exported to a payroll system, you are going to be stuck in that back office for a long time.
Investing in time and attendance automation technology can address these problems immediately. Tanda users find that saved employee data cuts down the administrative work to a fraction of the time. They publish schedules from the platform to avoid miscommunication. Then, they monitor their staff easily from their desktop, tablet, or mobile phone. Once the pay period is over, they simply export the processed timesheets to an existing payroll partner. They have more time to train their employees or engage their customers as a result.
Don’t let timesheets take up too much time
Timesheets have always taken up the resources of managers across all industries. It’s a tedious but necessary part of running a business. Successful managers know how important it is to balance labor costs against delivering customer promise. Getting it right means expanding the bottom line faster. Transitioning to automation technology doesn’t have to happen all at once. Try it out with a free time clock, scheduling template, or timesheet calculator first and see what difference it can make. Once you know your way around it, you’ll be ready to explore the full range of features that will revolutionize how you do business.
Events & Media AU |
Mossman State High School graduates Tasmin Trezise and Jake Phillpot are hoping to set up a head office in Far North Queensland for their rapidly growing tech business, Tanda (Previously PayAus). The software and payroll processing company is currently based in Brisbane and is helping organisation of five and upward staff significantly reduce their labour costs. “Tanda deliver a digital answer to traditional time sheets,” founder Tasmin Trezise said. “Our system eliminates time theft and produces unbelievably easy reporting and businesses save money from day one as there is no upfront cost.” The system involves installing a managed hardware device into your business and employees record their start and finish times by entering a unique four digit. The system will send the data back to the central server where organisational rules are applied and time sheets are calculated effectively reducing labour costs. “It’s not a choice anymore, small to medium businesses need to be thinking about their staff costs all the time and we are able to help them do it.” Mr. Trezise said. Tanda founder Jake Phillpot said growing up in local small business families meant the pair were passionate about bringing technical innovations back to far North Queensland. “We made Tanda to be the most powerful and economic payroll and cloud timesheeting solution on the market for small to medium size organisations,” he said. “It’s about keeping family business strong, simple and together.” Visit www.tanda.co for more information.
Events & Media AU |
‘Tanda rewarded for making timesheets sexy’ says Digital Brisbane
Brisbane-based start-up Tanda may be young in business terms, just two years old and with an average employee age of 23, but its meteoric growth has been achieved in a number of ways. Initially it was the no-guts, no-glory approach by its four youthful directors, followed by the whole team’s obsessive client focus. And then came the award that put the crown on top – the ANZ Made In Brisbane Award for High-Growth Business Start-Up – a major category in the 2014 Lord Mayor’s Business Awards. With the prestigious awards celebrating their 10th anniversary this year, past winners and nominees like Tanda are now looking back on what the awards have meant to their businesses and overall approach to business. For the full story follow the link…
Clients & Partners AU |
Are you an ‘Uber Accountant’?
Gus Balbontin, Former Executive Director and CTO of Lonely Planet, opened MYOB Incite 2017 by posing the idea that there are two types of accountants. The first, and most successful accountant, embraces change. When customers move in a different direction, they are already two steps ahead and ready to capitalise. These accountants are the ‘Ubers’ of accounting. The second type of accountant, are resisters. They want to concrete things over and lock in their way of doing things. When the customer goes a different direction, they blame the customer and call for a ban on the new way of doing things. These are your ‘Taxi Industry’ accountants. With the rise of technology taking over many of the basic tasks of accounting firms, accountants are being forced to accept that the majority of their growth will come from providing higher order advisory services. Accountants who have already automated their basic tasks are able to spend their time with clients, providing higher order services that deliver real value. In an era where the amount of process based tasks they can bill for is rapidly decreasing, it is these ‘Uber accountants’ who are scaling their client base and offerings. My takeaway from discussing payroll with hundreds of accountants over three weeks while on the road, is that business owners turn to their accountants as their sole source of business advice, and in most cases this doesn’t just end at their finances. Accountants who offer payroll services constantly find themselves fielding industrial relations questions and interpreting Award conditions for their clients. With the average Australian Modern Award having between 180-200 different pay conditions, it’s easy to understand why clients are keen to outsource the process to a professional. The line between the Uber and Taxi Industry accountants in payroll processing is becoming undeniably clear. While the ‘Taxi Industry approach’ to payroll has remained stagnant and stuck in billable payroll hours, the ‘Uber approach’ has thrived as accountants seek to embrace the new role they play in a client’s success. The ‘Uber approach’ to payroll processing lies in automation, as accountants can bill for providing payroll advice and support, rather than just shuffling timesheets and paperwork.