Helpful Tips for Creating Solid Monthly Timesheets for Your Business
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One of the areas where a company can really struggle is in keeping up with the timesheets of every employee, on a monthly basis. If you have a monthly timesheet template, though, you'll be more prepared. That reduces the chances of an employee's time being overlooked, or an employee being underpaid or overpaid, accidentally.
A monthly timesheet template also keeps things uniform, so anyone who handles the payroll processing has a more formulaic approach they can use. That can make things faster and easier for everyone, along with reducing mistakes. Here's what you'll want to be looking for in that template.
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A monthly timesheet template can be a very important way to keep track of payroll for your employees. Many companies pay monthly, and if you're one of them you need to make sure you're keeping track of hours properly. No matter what kind of company you have, we have information about a timesheet template. Here, you'll learn about:
- Important Information for Monthly Timesheets
- Best Practices for Payment Records
- Tips for Securely Signing Timesheets
- Key Considerations for Timekeeping
- Additional Resources to Help
Important Information Included in a Monthly Timesheet
Unlike a contract, a timesheet doesn't have clauses and boilerplate information that's required. But it does still have some specific details that should be included for every employee. In order to make sure you're including all of those things, getting a monthly timesheet template can be the way to go. Some specifics included in it are:
1. Employee and Employer Details -- Making sure you fill in the details for the employer and their manager can help reduce any confusion about whose timesheet you're holding.
2. Months and Days of the Week -- Knowing what month the timesheet is for matters, but you also want to be able to see the hours for every day of the week.
3. Weekly Columns Plus Overtime -- Having a column for Week 1, Week 2, etc., helps ensure all the hours are being counted correctly, and overtime columns help you separate that time in case it's paid at a different rate.
4. Year-to-Date Totals -- The totals for the year help employees and management see where they are, and how their hours are adding up, in case any adjustments need to be made.
There's no reason to try to create something yourself, when you can use a monthly timesheet template and have everything you need at your fingertips. Not only does that make it easier to keep track of employee hours and payroll, but it also helps your employees feel more secure. They know you're handling their payments correctly.
Best Practices for a Monthly Timesheet
Some companies pay their employees on a monthly basis. If that's how your company handles payroll, you'll want to make sure you're tracking every employee for the right period of time. A monthly timesheet template helps with that, especially if you have many employees. It can become difficult to keep track of all of them otherwise. Some of the best practices include:
- Making sure each monthly timesheet is filled in fully, so there's no confusion between employees.
- Adding any details for vacation, overtime, or other unique situations, as part of the employment record.
- Creating an easy and convenient way for those who handle payroll to get the figures and information they need.
Your employees want to know that they can trust you to pay them fairly. That's not just about their salary or hourly wage, but also about the number of hours they work. A monthly timesheet template reduces risk and concern.
Tips for Keeping a Monthly Timesheet Secure
Among the best ways to secure an employee's monthly timesheet is to handle it electronically. For example, you can use Nitro Sign for your important documents, like timesheets, to keep everything protected. It's fast and convenient to sign online.
Key Considerations for the Completion of a Monthly Timesheet
If you have employees who are paid on a monthly basis, keeping their timesheets accurate is important. To do that, some of the key considerations you'll want to think about are:
- Making sure each employee has a properly assigned timesheet with their information filled in.
- Having the same kind of template for every employee, to reduce the risk of problems.
- Using a monthly timesheet template that offers all the details and specifics needed.
The right monthly timesheet template is good protection for your company, and helps your employees feel safe, as well.
Additional Resources for Information
Ready to learn more about monthly timesheets? Here are some resources to consider: