Time Clock Calculator: Simplify Time and Attendance
Manually tracking employee time and attendance could be costing your business revenue and aggravating your staff with cumbersome reporting. This calculator can help you estimate the potential costs associated with human error that can occur when employee time is manually recorded. Try out the Time Clock Calculator and uncover the potential savings you may have when you switch from a manual to an automated system.
How To Use the Time Clock Calculator:
- Begin by entering your number of employees and the average hourly wage of your employees, using either the slider with your mouse, or by typing the figures in the box.
- Enter your payroll frequency (weekly, bi-weekly, semi-monthly, or monthly).
- Enter the average number of hours employees work, either by week or by pay period.
- In the final three questions, a conservative estimation has already been entered. Change the estimate to what best fits your business or click "Calculate Savings" to use the calculator with the estimates.
If you have questions about the time clock calculator results or would like to know more about automating time and attendance tracking, please contact our specialists at Paychex.
Annual Savings
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Payroll Errors
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Lost Employee Time
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Manual Calculations
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Benefits of Tracking Work Hours Accurately
Using a manual clock-system might seem easier, but employees can make mistakes such as when clocking in or out or taking breaks. Not to mention the risk of mistakes that come with processing and conducting payroll management. An automated timekeeping system can end up saving you potentially thousands of dollars by reducing the risk of mistakes associated with a manual timekeeping system.
Tips for Efficient Payroll Management With Time Tracking
Tracking hours worked accurately can help improve your compliance with wage and hour laws and simplify payroll for businesses of all sizes.
Switching from a paper-based time and attendance system to a digital and integrated system can sharply decrease expenses related to the collection, management, and data entry involved in a manual system. The use of an HR system like Paychex Flex® can also help reduce error, saving your business even more.