Timesheets have been an important part of working life in some form or other since work began! There are two main types of time sheet – the first is the sort that allows a worker to log the hours they are actually in work, so possibly a temporary or freelance member of staff who needs this to prove how many hours they need to be paid. The other type is those that full time employees fill in to show what work they have actually done when they are in work – this is generally known as “time tracking” however that is still a form of “timesheet”.
Up until only a few years ago you would have filled in a time sheet using pen and paper and it would have ended up in an unorganized folder with all of the others, or will have needed to be input (along with every other one) onto the computer by one person. This was usually OK for the employee who would get paid anyway, but for management analyzing these time logs could be very difficult! Now that many companies have moved over to software based solutions these issues are no longer, with bespoke reports being generated by the system and increased flexibility to allow the staff to fill in the data when they remember rather than having to print it off. Managers can now check on the fly rather than have to rifle through a folder.
The benefits of time being logged are different depending on the business. For all businesses it is of course important that they pay their contracting or freelance staff correctly, and in order to do so must have an accurate picture of the amount of time that they have worked.
Time tracking is where specialist businesses can benefit from time management software. For example, in advertising and design agencies where they charge their time out to others knowing exactly what has been done for each client or project can be invaluable in ensuring that you either know how much to bill the clients or know how many hours are left.
Also some agencies have projects that they have a specific budget for, so it is very important to track the amount of time that has been spent to make sure that the project does not go over budget. Using timesheet software means this can be tracked in a more hi-tech way, calling up reports and totals quickly to identify any time issues as the project goes along rather than at the end.
If you have either independent contractors or bill your time to other companies you really should consider investing in some timesheet software. . This can sometimes be part of project planning software solution.
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