Recording and tracking the amount of an employee’s time spent working.
Employee timesheets were originally developed for employers to track the number of hours worked for payroll. However, timesheets are no longer used just for payroll. Employee timesheets are used to record the start and end time of tasks or simply the duration of the task. Employee timesheets may contain a detailed breakdown of tasks accomplished by the employee. The information can be used for project costing, job estimation, tracking, management, client billing and payroll.
Tracking time can reduce an organization’s costs by making payroll processing more efficient, by making costs visible so you can lower them, and by automating billing & invoicing. Tracking time can also increase revenue through automated billing. Automated billing facilitates client invoicing by providing access to accurate data for all the hours worked by consulting staff. This in turn expedites the invoicing process avoiding billing backlog. In turn, payments are received much faster and the inconvenience of missed bills is eliminated.