It’s hard enough as business owners to keep track of employees and their goings-on. Tracking hours, reporting payroll, and then keeping everything straight come tax time is nearly impossible when doing things the manual way.
One thing that can be done is to use a time card app and the various features available to simplify timekeeping, payroll, and logistical operations. Much of the process is automated, allowing you to focus on more essential business activities.
To take things a step further, you can integrate the app with your accounting software to ensure that employees are being paid correctly and that you’re accurately capturing your business expenses. Let’s look at some of the other benefits of integrating your time card app with accounting software.
Managing Multiple Clients or Projects
It can be challenging to keep track of multiple revenue streams or projects when trying to keep account of everything manually. The more projects or clients you have, the more difficult it becomes to not only track productivity and completion but to ensure that everyone is paid accordingly and the correct taxes are paid as well.
Using a time and attendance app can track multiple projects, and integrating it with your accounting software can make itemizing, billing, and calculating taxes much more straightforward. In fact, time clock solutions can help with time tracking, attendance, and time off requests. All of these things make keeping organized and productive much less stressful, even if you have several things going on at once.
Additionally, integrating your online timecard system with accounting software can improve clients’ invoicing and billing process, meaning that you get paid faster than before, plus there is improved accuracy across all clients. Not only will your business benefit, but clients will also appreciate the streamlined process.
Improve Payroll Accuracy
There are several problems with manually calculating payroll. For starters, it will take time for employees to fill out the time cards throughout their workweek. Then, they have to be entered into payroll software and added up so that time is tracked correctly. Because of this, there’s a tendency to make mistakes or overlook something when calculating taxes which means it may not end up being accurate at all.
Integrating your time card app with accounting software can help you avoid these problems altogether as it’ll automatically calculate tax information based on what has been inputted in the previous steps. It also allows you to track hours more effectively than before because there are few manual calculations involved.
This especially helps when tracking multiple employee’s hours on various projects for numerous clients. Knowing who to bill for what and then how to separate it out and then pay your employees can get quite tricky if you don’t have a team time tracking tool that’s can keep everything separate and well organized.
One of the most important things you can do with your timesheet management app is to make sure that everyone is on task – not just on task but on the right task. Much like managing multiple projects, managing numerous employees takes up a lot of time without the proper tools.
Integrating your time card app with accounting software means that you can track, bill, and pay with ease, even if you have a diverse workforce where different components are paid at different rates or different times.
This means less time is wasted figuring out logistical details, and more time can be spent getting actual work done on projects. This reduces overhead costs as well as the managerial oversight needed.
In addition, employees know that their pay is accurate, giving them the incentive to work harder given that timekeeping, payroll, and other functions are automated. Even data collection is simpler and requires less work on behalf of employees, freeing them up to do more critical tasks.