5 Reasons Your Small Business Needs Time Clock and Payroll Software
When you run a small business, it’s important to have the right tools in place to help you keep track of employee time and wage payments. If you don’t have time clock and payroll software, you could be in danger of breaking the law or losing some of your profits. Luckily, there are plenty of options out there for small businesses with diverse needs, so read on to learn five reasons your small business needs time clock and payroll software.
1) Better Reporting & Tracking
As your business grows, it becomes increasingly difficult to track employee hours and keep a handle on payroll. Small businesses often lack resources, so tracking time with paper timesheets or spreadsheets isn’t an option. In those cases, you need a digital solution that makes reporting and tracking simple, saves you time (and money), and will stand up to future growth. That’s where time clock software for small businesses comes in handy.
2) Increased Efficiency
One of your biggest business challenges is how to better manage time and increase efficiency. This is one aspect where software can help—time clock software, in particular. A reliable time clock solution allows employees to clock in online or with a mobile app, reducing back-and-forth communication when it comes to what hours were worked and when they were worked. Fewer miscommunications means less frustration for everyone involved.
3) Automatic Document Generation
Traditional payroll is a convoluted process that takes hours to complete. Even when you hire an outside company to handle it, you still have to do all of your own calculations before they can get started. With payroll software, however, almost everything is automated: The system will generate reports based on data pulled from your employee records, which means that you won’t have to manually enter hours or calculate anything yourself.
4) Employee Accountability
The more you track your employees’ work hours, pay rates, on-time arrivals, etc., the more valuable your time clock will be. As an example, if one of your employees is consistently late for work or rarely shows up at all, tracking their attendance with a time clock will help you know what (if anything) to do about it. Tracking employee information can also be valuable in case of tax audits or other legal disputes that may arise. For example, knowing how many miles each of your employees drove during a certain period can save you from being blindsided by an unexpected mileage claim. It might even help protect against driver liability issues—after all, if someone drives drunk into another car because they were driving for your company, would you rather have solid records proving they were on duty when it happened?
5) Streamlined Record Keeping
The best way to Streamlined Record-Keeping is with febbox. With FebBox, anyone can upload and transfer files to the cloud and share them with anyone, and your workforce will never have to worry about data again. And that’s just one of several benefits that make time clock software an intelligent investment for big and small businesses. What are you waiting for? It’s time to track employee hours like a pro!