Time And Attendance Software – Payroll Made Easy With Automated Time Tracking

Any organisation that wishes to stay competitive and enjoy a good return on its investment needs to accurately track and maintain employee work hours. In addition, Australian businesses are required by law to keep the employee compensation records for at least a period of 7 years. This of course puts additional pressure on employers to store that much information for that long a period. Automated tracking and digital reporting through time and attendance software presents the ideal solution for this requirement.

If we go a decade or so back, it used to be a highly labour-intensive task to track employee work hours when workplaces had manual systems to accomplish this. The task used to become even more tedious when you had to prepare payroll at each pay-cycle and had to calculate employee wages manually. Today, the scenario is totally changed as payroll at the modern workplaces is transformed thanks to automated systems such as the time and attendance clocks resulting in more accurate, swift preparation of payroll. However, there are still a large number of small and medium sized businesses that continue to use pen and paper timesheets. 

Shortcomings Of Manual Payroll

When you use timesheets or punch cards for tracking employee time and attendance, it can take a lot of time to collect that data before it can be used for payroll purposes. Then, you have to manually calculate each employee’s wages against their hourly rates, overtime pay, employee benefits, insurance contributions and the rest of it. As can be imagined, the end result is a complete dependence on human capital to get the job done which has its own costs, not to mention the additional drawbacks in terms of human error. Now if you were to implement an automated solution such as the time and attendance software system, all of the above could be done in a jiffy, greatly reducing the possibility of error.

Additional Benefits Of Automating Your Payroll

Automated workforce solutions are not just beneficial in tracking or recording employee hours but also provide invaluable help in payroll processing.Small businesses can export detailed time and attendance reports into their payroll systems such as MYOB and other top software or even integrate their time and attendance clocks with other payroll systems.

To know more about time keeping software solutions, please visit http://aussietimeclocks.com.au/.