Time Sheet Calculator
How to Use Our Time Sheet Calculator
- Enter a brief description of your work, if necessary.
- Enter the amount of hours that you have worked.
- Enter your hourly payment rate that you were given with your job.
- If more lines are needed for the timesheet, click on the "+" symbol.
In order to easily manage the amount of time that you spend working, a timesheet is a simple system that can be used to track both the total length of time you have worked along with the income you have made from it. They are typically used for auditing reasons, and if attendance is an issue human resources will have access to them. Nowadays most businesses have an automated electronic system in order to track these things instead of filling up filing cabinets with paper copies of time sheets. Most business managers will have a timesheet as a part of their files in order to make sure that tasks are being taken care of effectively and within a set timeframe.
Why Use a Timesheet?
There are a variety of benefits to introducing a timesheet system, such as:
- Accounting Purposes: By using a timesheet system you are able to provide an audit with accurate information on how many hours you have worked, which is an important part of being a contractor. If HMRC decide to audit you, then they expect your timesheet system to have up to date records.
- Milestone Tracking: As a business manager it is important to make sure that projects are take on and completed in an acceptable amount of time. If a job is taking too long, then a manager can refer to the timesheet in order to find out why it may be taking so long.
- Staff Output: If there are multiple staff being managed, and they are completing similar tasks, then using a timesheet will help find out which tasks have been completed and how long it took to complete them.
- Payroll: When it comes to paying employees it is important that the amount they are paid hourly is accurate along with the hours that they have worked, including overtime activity. A timesheet system helps keep track of all these things, making an effective payroll system.