A Comprehensive Guide to Timesheets
Brought to you by Replicon, the Time Intelligence Company
timesheets

Hassle-free Timesheet Software from Replicon

Replicon’s flexible timesheets enable businesses to capture and track employee time through prebuilt or customized templates against projects, tasks and activities anytime, anywhere and on any device (mobile phones, tablets or desktops). This 100% accurate and validated time data can be used for ascertaining billable hours across projects, computing payroll and can also be shared with other systems that your business relies on like ERP, CRM, accounting and payroll solutions.

time tracking software

What Is a Timesheet?

A timesheet is a data table that managers can use to track how much time an employee has spent on a particular project, task, activity, or client. Employees make a time entry when they start and end a task. This information is then used to bill clients, assess labor costs, and process payrolls. Traditionally, businesses used paper-based timesheets or online spreadsheets to record employees’ time. Today, modern businesses use timesheet software to capture and track time with prebuilt or customized templates against activities.

what is a timesheet

How Does a Timesheet Affect a Business’s Bottom Line?

Time is a strategic asset for any business. A 1,000-employee company has about 2 million hours at its disposal each year. Yet, most of them don’t know how their employees spend their time or how much their time costs the company. It’s mostly because the time tracking is scattered across various platforms, including ERP, HCM, CRM, payroll solutions, project management systems, and more. The fragmented data makes it difficult to connect and share the information for accurate client billing, costing, and payroll processing.

Time feeds into every business metric, including pay, cost, billing, productivity, profitability, and more. So, a business needs to understand where that time is spent to identify inefficiencies, revenue leakages, and make strategic decisions to drive business growth.

Agile, scalable, and configurable timesheets help organizations accurately track their time to enable:

  • Project managers to meet deadlines within budget
  • Accounting teams to generate accurate client bills and payroll
  • Compliance teams to generate accurate audit trails

What Is a Timesheet Software?

A timesheet software allows employees to record their time spent on projects, tasks, and activities accurately to automate payroll and client invoicing. A cloud timesheet software is flexible, configurable, user-intuitive, and eliminates administrative hassles. It helps managers track time spent by employees on each task to keep the project on schedule and within the budget.

timesheet software

Free Timesheet Templates

Replicon’s comprehensive project time tracking suite provides a single source of truth for all your project costing or client billing needs. The cloud-based timesheet is configurable, scalable, and allows users to enter time in real time. If you’d like to explore all the features and functionalities, sign up for a free trial.

Otherwise, if you’d like to download our free printable timesheet templates, you can get access to customizable daily, weekly, and monthly timesheets here. These templates allow you to capture the number of hours worked in a day just by entering your start time and end time.

daily timesheet template

Download our daily timesheet template for free.

weekly timesheet template

Download our weekly timesheet template for free.

monthly timesheet template

Download our monthly timesheet template for free.

Must-have Features of Timesheet Software

configurable timesheet software

Configurability

Not all timesheets are made equal. Every organization has different needs for time tracking. While some want simple in/out punches, others want time entries against projects, activities, or custom fields. Fully customizable timesheet software allows you to create multiple timesheet templates and assign them to appropriate user profiles. You can even choose to pre-fill the timesheets with either the user’s previous timesheet data or their shift schedule, encouraging user adoption.

Agility

Typically, timesheets are submitted at the end of the week or month, delaying the financial processes for projects that are completed early in the period. Billing managers wait for the complete timesheet to be filled and approved before starting client billing or payroll processing. Agile timesheets enable employees to submit their timesheets as soon as they complete a project, giving project managers complete visibility into the project progress and enabling instant approvals of timesheets for quick billing.

agile timesheet
timesheet validation rules

Enhanced Validation Rules

Legislation, collective bargaining agreements, or industry practice may restrict the number of hours an employee can work and what they need to be paid. You need a solution that lets you manage work hours exceptions, validations, and adjustments on one unified platform. For instance, you might want your employees to record 40 hours per week and at least six hours a day. When a timesheet is submitted, the solution must check for these conditions to highlight any non-compliance that could lead to costly payroll errors.

Intelligent Approvals and Notifications

Timesheet software should ease the burden of your approving managers. The ability to define dynamic approval workflows and route timesheets based on real-time data validations while looping in project managers, supervisors, and other stakeholders streamlines the approval process. Real-time alerts and notifications on both desktop and mobile devices allow managers and supervisors to review and approve requests in time.

timesheet approval
timesheet app

Time Tracking On the Go

Remote teams and mobile employees need access to timesheets anytime, anywhere to quickly enter time ― whether it is for attendance management, internal project costing, online billing of clients, or managing shared services resources. The ability to add comments and submit their work directly from an iOS device while it’s still fresh in their mind increases the accuracy of the timesheet. The mobile app also enables managers and supervisors to view employee hours and approve timesheets, time off, and expenses for their teams instantly.

Touchless Cloud Clock

Employees returning to the office space after the pandemic expect a contactless way to punch at arrival, breaks, and end of shift. A touchless employee time clock with features like facial recognition and voice commands allows your employees to simply walk up to their time clock and automatically punch in without touching any clock or clock surfaces. A sophisticated combination of both facial recognition and voice-assisted technology reduces the risk of exposure to the virus, encouraging your employees to safely resume punching in and out without fear.

employee time clock
timesheet compliance

Built-in Labor Compliance

With a global wage and hour compliance database, you have everything you need to manage a global workforce. The built-in comprehensive information on work, overtime, minimum wages, and time off rules takes the headache out of compliance by making it easy to adhere to labor regulations in every country you operate.

Real-time Budgets to Actuals

Get real-time visibility into actual spend and track it against estimates to quickly identify overspend for course correction. Project managers can define estimated cost against each task to understand which ones are consuming more resources than what’s allocated.

budget tracker
analytics tracker

Analytics

Real-time insights into projects, people, and other metrics that tie into time can help identify trends and forecast budgets and resources. Get complete insight to understand how employees are using and tracking their time, find inefficiencies, and adapt to changing needs. Create custom dashboards to manage your business in real time and organize data with built-in templates. Use charts and graphs to visualize data.

Integrations

Share time information with your CRM, ERP, HR, and accounting tools. Integrations allow for the seamless exchange of data that ensures accurate invoicing of clients and the easy reimbursement of employee labor costs and vendor payments.

timesheet integrations
secure timesheet platform

Global, Scalable, and Secure Platform

Our unique cloud infrastructure is designed to scale-up and scale-out seamlessly, ensuring that we can support both your growth and ours. With built-in Auto-Scale technology, Replicon senses customer usage demands in real time and scales up the infrastructure across all tiers to consistently meet customer performance needs.

Timesheet Use Cases

There are many use cases with timesheets that your organization can benefit from. Our customers leverage our flexible, cloud timesheets for:

Payroll and Labor Compliance

Payroll and Labor Compliance

Accurate timesheets powered by streamlined approvals, prebuilt pay rules, and gross pay workbench reduces the administrative overhead and accelerates payroll processing. The preconfigured global pay rule library helps manage overtime, meal breaks, and other labor statutory labor laws. With the fully automated pay calculations, you can always be confident that you are paying right.

Project and Client Billing

Project and Client Billing

Timesheets are the best way to show your customers how efficiently you handle their projects. Timesheets let them see how much time your team dedicated to the project and serve as proof of how accurate your billing is. Our agile timesheets enable your team to send timesheets for approval as soon as the project is completed, enabling faster billing.

Accurate Costing and Internal Chargebacks

Accurate Costing and Internal Chargebacks

Our configurable timesheets capture the information as per your shared services needs to enable your organization with accurate internal chargebacks. It’s customized to differentiate between project/admin hours and allocate them to internal clients.

Payroll and Labor Compliance

Labor Cost Capitalization

Categorize your project hours and costs into capital expenditure (CapEx) and operational expenditure (OpEx) based on your business needs. To allow your team members to capture additional information, our timesheets are designed to accommodate comments and attachments, giving supervisors detailed context and transparency for consolidation and audits. The advanced business validations reduce errors on timesheets and calculation of CapEx and OpEx.

R&D Tax Credits

R&D Tax Credits

If your business is set up in a region like the UK where the government provides R&D Tax Credits as incentives to promote research and development, our time tracking platform helps you capture and categorize all R&D project hours and costs in real time. It is then run through the right approval workflows and claim information is compiled instantly. The entire process makes your tax credit claims audit-proof.

The Next Step

The easiest way to see if time tracking will be of benefit to you and your organization is to simply commit and start recording your time on tasks. The hardest aspect of keeping time is maintaining the habit .

When applied properly, timesheets will quickly become the norm for your team and completing them will be another aspect of collectively achieving success. Soon, you’ll wonder how you ever managed to run your projects without the rich data that time tracking will provide.

It won’t be long before your estimates improve, your confidence in hitting deadlines is bolstered, and your project success rates increase.

Now that you know everything you need about timesheets and tracking time, it’s time to get started!

Sign up for your free Replicon trial and get started with accurate time tracking.