Timesheets (sometimes written as two words, time sheets) are the method for recording the amount of an employee is at work. Timesheets were originally developed in order to be able to determine the amount of payroll required for each employee but timesheets have become far more versatile and powerful. Many technology companies now offer sophisticated timesheet software and/or services that provide the means to track time not just for payroll but also for job costing, billing and project management.
Timesheets were originally all done on paper, then progressed to highly modified spreadsheets and then to sophisticated Time and Attendance Program. These days timesheets are used in a far wider capacity than just payroll. Timesheets often record the start and end time of tasks, or the duration of each task. The timesheet may contain a detailed breakdown of tasks accomplished throughout a project or program to give the employer detailed information about that project.
One of the more common uses of timesheets is comparing planned costs to actual costs. This knowledge can help tremendously and can alter a project significantly in order to save money. Timesheets can help identify tasks that turn out to be more difficult and time consuming than anticipated or are problematic. Timesheets can even measure employee performance to aid with profitability and performance evaluations.
Other Related Articles:
What is Timesheet Software?
What is Time Tracking Software?
What is a Time and Attendance Tracking System?
What defines Time and Attendance Equipment?