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What is a Timesheet?

Many American workers know the routine of punching in and out agen judi slot, but office employees may be less familiar with timesheets, and in some cases, that can be a problem. If your small business employs hourly employees or bills clients by the hour, you need timesheets to keep yourself – and your employees – accountable. Just as importantly, timesheets will streamline operations and reduce costs. Learn more below.

A timesheet is a document that shows how many hours your employees have spent working, whether on-site or remotely https://www.whatismyreferer.com. You use timesheets to calculate how much to pay your hourly employees when running payroll for a specific pay period . For example, if an employee who earns $15 per hour works 80 hours during your biweekly pay period, you’ll pay them $15 x 80 = $1,200 before taxes and deductions.

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A timesheet can also show the number of hours some – or all – of your employees have spent working on a particular project. If you’re charging your client per hour instead of a flat fee, you can determine more precisely how much to bill them and have ample backup documentation. For example, if you charge $40 per hour for your accounting services and an employee spends 10 hours total working on a client’s taxes, you’ll charge $40 x 10 = $400.

Timesheets also come in handy for figuring out how long certain processes take. If you see on a timesheet that one task related to a certain project has taken a disproportionate amount of time, you can determine how you to handle this task more quickly in the future.