7 Ways TSheets Helps Your Business Succeed
1. Save Time and Money
On average, businesses using TSheets lower their payroll costs by 6%, cut the time it takes to run payroll by 3 hours, and increase the billable time on their invoices by 11%.
2. Stay Compliant
Employee records, such as timesheets and payslips, are to be kept between 3 and 5 years. TSheets keeps them
3. Prevent Time Theft and Buddy Punching
45% of employees admit to regularly submitting incorrect timesheets, while 44% admit to buddy punching. TSheets curbs time theft and buddy punching with features like GPS tracking and facial recognition.3
4. Keep Wage Fraud Lawsuits at Bay
17% of employees have been denied overtime pay even though they’re eligible recipients.4
5. Manage Overtime Calculations
Proactively manage overtime with our alert feature, where admins and managers are notified to approve overtime before it begins. Then stay on top of overtime calculations with our Pay Rate Engine.
Input pay rates based on the hour of the day or the pay period. You can even apply different pay rates for different days of the week.
6. Manage Employees More Effectively
64% of employees are either capturing their working hours manually or need a manager to track hours for
7. Increase Efficiency With GPS Tracking
58% of employees who have used GPS for work found the experience positive, from helping to improve mileage and expenses tracking to adding safety and efficiency to the workplace.
If time is money,
then did you know:
45% of employees admit to regularly submitting
incorrect timesheets, while 31% submit at least one
incorrect timesheet per month.
Source: 2018 TSheets survey on time tracking habits in Canada
3 Reasons Salaried Employees Should Track Time
STAY AWARE OF OVERTIME ELIGIBILITY
While the laws vary from province to province, salaried employees who do not have managerial responsibilities are eligible to receive overtime pay.
GET MORE ACCURATE JOB COSTING
Accurate labour costing can help better allocate resources, generate spot-on estimates, and prevent budget overruns.
CALCULATE VACATION PAY, STATUTORY HOLIDAY PAY, AND ANNUAL LEAVE
Tracking the duration and specific days of employment are used to accurately reflect holiday pay, vacation pay, and annual leave.