Management Tips for Accurate, Efficient Payroll

Payroll management involves more than monitoring the time clock. Nowadays, the payroll function is as complicated as ever, especially with federal government oversight of corporate accounting practices, several different types of automatic deductions, and international staffing. In such an environment, payroll calculations are usually automated, though some smaller companies still use a manual system to compute paychecks and hours worked. However, even in the case of entities with fewer than 50 workers, automated time clock systems are very common.

The best way to make certain that there are no major errors in payroll checks is to use a reliable and consistent method of calculating all check amounts. Whether your company uses electronic time clock systems or online time loggers, be attentive to keeping accurate records of hours worked for each employee.

Some modern time clocks do a variety of calculations that were unheard of just two or three decades ago. And some old systems still work, despite their age. A punch card system works well for organizations that have fewer than 50 workers.

For large firms, time loggers work well. In these computer-based systems, workers check in via their computer terminals. In some cases, computer-timing programs use a magnetic terminal for swipe cards. Large companies are especially susceptible to time fraud due to the impersonal nature of the systems and vulnerability to hacking. Some of the higher-end programs contain subtle but effective safeguards against such activity.

Whether large or small, every business should keep a separate bank account for payroll funds. In fact, a patchwork of federal and state laws require certain types of entities to maintain separate accounts for payroll purposes. Aside from the purposes of the law, it is a wise practice to label a bank account specifically for payroll. When tax time comes, companies who have accurate records and segregated accounts will be in a better position to prepare accurate tax returns quickly and simply. When it comes down to it, a time clock is the basis for vital payroll calculations, pure and simple.

The Uses of a Punch Time Clock

The time clock has become a very important tool in the business. Time clocks can not only help monitor work places but can also establish a clear vision of the working time in the company. A punch clock has many benefits for all parts of an enterprise, as well as for management employees.

Punch clocks help record time in and out by employees and workers. Not only are these time cards used for payroll, but they can also be used to help monitor how much time is spent on specific projects as well as on working schedules of specific departments. In addition, punch time clocks can help provide a clearer image of what the bottom line of the company is, and is not, completing.

More modern time clocks offer other features. Building security, including management of time management, secure entry and management of movements in different spaces are just a couple of things that a time clock can do for a small business. User management with access controls for visitors whether they are customers or suppliers and parking management. A time clock can intervene to control access or entry point in a building to identify, authenticate, authorize or prohibit the attendance areas for which it is programmed.

The advantage of the time clock for various stakeholders of the company, department heads, and administrators lies in the ability of terminals to record and make available comprehensive information. Information from the time clock is pulled off as easy as it is put on. Employees will time stamp their hours simply by “clocking in”. Payroll will then break down the hours and then count log the time they clocked in and clocked out, totaling the hours up and then cutting a check.

In the end, while a punch time clock is not for everyone, there are numerous other options on the market that offer a variety of features. Do your homework and decide whether a punch clock is for your or if a different model would better suit your needs.

Keeping Telecommuters on Track

Almost 30 million American workers can do part of their work from their home or remote locations, according to a recent survey performed by the people at International Telework Association. With 1 in 5 workers telecommuting, getting everyone to punch in on the time clock, together for a meeting, or to check-in can be difficut. Fortunately, the employee time clock is one way that you can keep track of telecommuters.

Managing telecommuting technology is tough, but managing the workers can be even tougher. Telework has a habit of amplifying organizational weaknesses and if the company is already weak in the terms of management, then the policy needs to be updated before the teleworking begins. Teleworking can force a manager to sharpen simple managerial skills, not only to streamline the work force but also to make sure the job gets done when it needs to be.

Here are some ways you can create the best environment for teleworkers, and for your company overall:

Implement a great employee time clock system – A solid web-based, employee time clock will help you keep track of your employees, remotely and in-office.

Identify some tasks that are suitable telecommuting - List positions that aren’t good for telecommuting first, as this will be much easier. Then examine what’s left and decide if telecommuting is viable.

Establish ground rules - Make sure every employee is on the same page. Set rules for telecommuters in terms of what needs to be done.

Be prepared to enforce the rules - If a decision comes up to where you need to make a tough call, make sure you can do it.

Practice effective management - Calling regular meetings is a must. Be sure your telecommuters are aware that just because they are not in the office doesn’t mean they are exempt from team meetings.

Provide effective support - Always support your workers. Just as they reach out to you, reach out to them as well.

Why You Should Automate the Employee Time Clock

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For many, running an office can become a time exhausting affair. Not only is work management a factor, but also human resources and payroll. Many small business owners can find themselves overwhelmed quickly when the office grows, particularly when it comes to keeping accurate payroll. There are several new pieces of technology that can help an office run smoothly, however, and that can help lessen the anxiety that can come with managing staff.

One innovation that can help keep the office efficient and functional is an employee time clock. Time clocks not only help keep the workforce on track, but can also record time worked and even time off with more accuracy than hand entry can afford. A time clock is easy to operate and often just as easy to put in. For many business owners, this automated system is just what they need to help their business run efficiently and smoothly.

While there are many types of employee time clocks, biometric and web-based are some of the most popular, and offer numerous benefits. With these units, businesses can:

1.     Minimize Human Errors - These types of tracking systems actually ensure the elimination of errors (at least the human ones) while recording work hours. Studies show that there is a 99% accuracy rate.

2.     Checks and Balances are Infallible - Simply put, with the system’s biometric features the software is impossible to evade.

3.     Productivity and Efficiency - There is an increase across the board in both these areas.

4.     Value Added to the Company - With the addition of the system, you are adding a serious money-saving addition to your business.

5.     Employees are Happier - With fewer errors in recording, your employee will be much happier with you.

6.     Efficient Processing for Payroll - Everyone likes getting paid on time and this system allows you to do just that.

There are numerous advantages to adding a time clock to the office. Be sure to find a unit that works for you and your business, so that you can take advantage of the technology that is out there.