Save time and money by planning for your next timesheet app
When implementing time tracking software for your staff, start with the end in mind – what are you looking to get out of it?
Reporting and strict compliance
Many think of common surface features of a timesheet like time capture, but the critical value of timesheets is in its reporting functionality. Data needs to be captured flexibly and be moved across different parts of the business.
A timesheet solution with robust reporting is critical, especially in the current climate of underpayment investigations across all industries.
Regularly updated when there is any amendment to Modern Awards / Fair Work regulations
Fair Work frequently identifies several other entitlements and allowances that are often overlooked by businesses once they start an investigation. It can be hard to stay on top of all the changes to pay rates, Modern Award rules and laws around employee progression amidst a strained workforce.
Automated Time In lieu Of (TOIL)
Time in lieu of payments can be a very effective management tool that benefits both workers and the employer.
Tackling the administration of this arrangement can be tricky, having to rely on several different tools. Fairtime timesheets have built-in ‘time in lieu of’ features which can track all additional hours worked in real time. This gives the employee flexibility and control of their TOIL entitlements.
The TOIL (Time-off in lieu) feature allows staff to accurately track portions of their overtime hours for time off and easily tracks all leave requests from the user dashboard.
Smart timesheets can eliminate the risk of underpayment for your business
Timesheets that focus not only on record retention but also compliance with the Fair Work Act can be a lifesaver when asked to run compliance reports and review records periodically.
Most timesheets record start and finish times of staff with varying levels of sophistication and biometric devices. There is a HIGH level of manual reconciliations required and many hours of inefficient labour.
This is inefficient, particularly if you are in a high risk industry where Fair Work has made it clear that investigating underpayment is a priority.
Smart timesheets that automate timekeeping can do the following:
- 1. Increase the chances employees will complete timesheets on time
- 2. Accurately identify and notify all employees with missing timesheets with just one click
- 3. Send timesheet data directly into the preferred payroll processing platform (via an API)
How to choose the right time and attendance system for your company?
When selecting the right timesheet software for your company, it is important to consider the features and functionality that the software offers.
Implementation Costs and Budget
When looking to change time and attendance systems, it is important to budget correctly. You should consider the costs associated with the new system, including any setup and installation fees, as well as any ongoing fees such as subscription costs or maintenance fees.
It is also important to consider the cost savings that the new system may provide, such as reduced time spent on payroll or reduced errors. Additionally, you should factor in any potential savings from increased productivity and efficiency.
Fit for Purpose
You should look for software that is designed specifically for the relevant Modern Award applying to your industry, as it will have all the relevant features and functionality to help you accurately track and manage your staff’s hours and entitlements.
You should also consider user-friendliness, the ability to generate reports, and the level of integration with your existing payroll system.
If reporting and compliance is a priority for your business, you should consider Fairtime’s timesheet app. Once all staff have been onboarded, Fairtime can ensure comprehensive coverage.
The reason for this is Fairtime’s built-in pay rate engine for each specific employee. This is highly customisable and incorporates the advice of legal professionals who have meticulously analysed Modern Awards for every industry.
Our engine mimics an in-depth review by a team of employment lawyers and payroll specialists performing reconciliations.
Mobile Functionality
Mobile functionality is important for a timesheet app as it allows employees to easily clock in and out from any location. This can help to reduce the administrative burden of manually tracking employee hours, and ensures that employees are paid accurately and on time.
Additionally, mobile functionality can increase efficiency, as employees can clock in and out quickly, and can help to reduce errors, as all data is automatically recorded and tracked.
Advanced Features
Smart timesheets that can be customised for your organisation can ensure comprehensive coverage – once it’s implemented, all updates will be automatic and seamless.
Workplace agreements can also be incorporated to ensure ongoing compliance so that time records verify the employee is being paid above their minimum entitlements for any relevant time period the manager selects.
Whilst reporting and compliance is often the primary objective with timesheets, advanced timesheets can also ensure that employees actually complete timesheets with virtual reminders and one-click verifications.
This will ensure time entries are current and not approximations because employees are failing to complete their timesheets. The pay rate engine will ensure records are accurate by ensuring the user claims any additional entitlements owed to them for a particular week.
Most importantly, they will ensure that managers and employees get timesheets across the finish line far easier – from prompt entries being submitted all the way through to verification.
Still Unsure?
Timesheet Software can help ensure your staff are paid at the right rate every time.
Automating payroll compliance eliminates the chance of you breaching employment laws by underpaying staff.
This is where we can help.
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