What Is A Timecard Calculator? Some Benefits You Shouldn't Miss
Managing and tracking employee time is difficult for many managers, involving overtime pay calculations. And the Timecard calculator is a tool that helps managers save time and effort, and employees can work more efficiently.
Yet, do you understand how to use this helpful tool? If you still need to apply this Timecard calculator for your work, immediately refer to the information in the article below. I will help you understand its benefits and give you tips to handle this tool effectively.
Table of Contents
- What Is A Timecard Calculator?
- Benefits Of Using A Timecard Calculator
- How To Find The Right Timecard Calculator For Your Business?
- Brief History Of Timecards
- Exempt Vs. Non-Exempt Employees
- Frequently Asked Questions
What Is A Timecard Calculator?
A free timecard calculator is a tool to track working overtime hours, helping managers to calculate real wages.
These tools are pretty simple. Typically, they will include essential features for accomplishing two tasks: time tracking and hourly rate payroll.
This tool is often suitable for business managers. Most large enterprises trust using Timecard calculators instead of traditional instruments. This innovation makes it possible for businesses to run smoothly and efficiently.
Benefits Of Using A Timecard Calculator
There are many reasons why large enterprises tend to switch to using Timecard calculators instead of traditional calculations. Its most significant benefit is to reduce the time and effort load for managers.
Yet, in addition to the benefits for managers, the exact Timecard calculator also offers many other unique experiences:
When calculating manually, you can get confused and face mistakes that can cost your business.
In contrast, the work hours calculator has almost absolute accuracy. Human errors won't have a significant impact on a company's revenue.
Overview of employee productivity
There are quite a few electronic devices on the market that support working overtime hours tracking. Yet, this approach can cause managers to miss essential data points.
And the timesheet calculator will be the ideal device to combine with an electronic tracking machine. When using both tools simultaneously, managers will have an overview of employee productivity growth over time.
The free Timecard calculator makes all calculations highly accurate. As a result, businesses are not exposed to financial risks.
Using a timekeeping calculator can also help cut staff. It will help the company save money in the long run.
A work hours calculator will assist in generating invoices. This feature will be beneficial for freelancers. They will use Timecard calculators to be able to charge customers accurately.
The automatic Timecard calculator will work together with project management tools to accurately track work time and progress on different tasks. In some cases, the compute engine can also assist in mitigating potential bottlenecks.
This tool is also quite useful for employees, simplifying timekeeping and working time statistics. Employees can focus on their work instead of manually tracking and reporting work hours.
Timekeeping calculators can also act as a communication tool between people who share the same tasks.
This tool will support time tracking and jointly control work progress. Team members can compare progress across tasks, find out what's taking the longest, and solve problems most efficiently.
How To Find The Right Timecard Calculator For Your Business?
When looking for a timekeeping tool, you must consider the relevant factors, including staff size, cost, and operational efficiency.
Simple software with the most basic features will be the optimal choice for businesses with few employees. Meanwhile, small and medium enterprises need software with built-in timekeeping and robust time tracking.
In addition to processing capacity, a suitable working time calculation device should meet the following standards:
Compatible with many popular devices such as phones, desktops, and tablets.
Flexible: It can track employees' time working at the office, construction site, or remotely.
Many settings protect data and user information.
Support time review anytime and anywhere.
Brief History Of Timecards
Timecards first appeared in the 19th century. At this time, industrialization caused the number of workers in factories to increase. And managers will have to have tools to track weekly work hours.
And Timecards appeared in this period with a simple rectangular shape. It prints business work hours/day and several working days/week.
In the early 20th century, major technology companies developed more advanced time-recording solutions. Timekeeping and stamping systems are highly accurate and widely available in many organizations.
Today, clocks and physical watch tags are still in everyday use. Yet, most companies have switched to using magnetic cards, biometric time recorders, or radio frequency identification devices.
Exempt Vs. Non-Exempt Employees
The Fair Labor Standards Act classifies workers as exempt employees and non-exempt employees.
Non-exempt employees are entitled to federal minimum wage or overtime pay. For these subjects, the standard working weekly hours are 40. When employers ask employees to work more than the standard, they must pay 1.5 times the minimum overtime rate.
To be exempt from tax, employees must earn a minimum wage of $7.25/hour (with lunch breaks). Some states with a higher cost of living will require companies to pay higher wages.
Non-exempt employees may also receive monthly, hourly rate, or commission wages.
Exempt employees will not enjoy the above privileges. These people are usually salespeople and seasonal workers.
Their primary duties are executive, professional, and administrative tasks.
Nor do they receive the same FLSA protections that non-exempt employees receive.
Some companies also have their own rules about exempting employees. For example, they might set the maximum tax-free salary for their employees to be $684/week or $2000/month.
Although the company is not required to pay tax-exempt employees overtime, workers may receive other benefits.
Frequently Asked Questions
Timecard calculators can be a strange tool if you work for something other than businesses. However, you can still take advantage of this tool and get many benefits. And here are the most basic information related to Timecard calculators that you need to know:
How do you calculate work hours worked online?
To calculate total hours worked an online base on the hourly rate, you will need to find the right support tool and do a few things below:
Select the work start and end clock-out times in the main interface.
Convert the appropriate time clock format.
Convert the minutes to the proper form.
Use the calculator's tool to subtract the end time from the start time.
If the company has an exact working time policy, remove unpaid break deductions (lunch breaks).
How do I calculate Timecards in Excel?
You can do it manually and professionally to figure out timecards in Excel.
With manual calculations, you will need to enter the start time and end time data into the spreadsheet. Then use a simple addition and subtraction formula to calculate hours.
For the professional calculation method, you will need to format the data, use the Excel time function, and customize the total hours and minutes to get the most accurate results.
Can Google Sheets calculate the time clock?
You can use Google Sheets to calculate the time.
The formula you can use is "=Hour(X)."
X is the location of the cell you want to extract the total hours from. When performing this calculation, the result ranges from 0 to 23.
How many types of Timecard calculators?
There are many models of card calculators you can consider. Here are the three most common models and types:
Electronic time and attendance card calculator: This will work on the website. Employees will use this tool to track their working time. The device includes some basic features, such as timers and reporting.
Timekeeping application: Businesses with many employees need to install this tool on their computers to track their working hours. The software will store and send data from the Timecard to the management board.
Manual timesheet calculator: This simple tool lets employees record their shift start and end times and then use the calculator to calculate their total weekly timecard hours.
How do you convert Timecards to regular hours?
To convert from time tags to hours, you can take the following manual steps:
Re-statistical data and constant use of only 24-hour clock format.
Subtract the start time from the end time. You will get the total daily working time with minute accuracy.
Convert time to decimal format to facilitate the payroll process.
A Timecard calculator is a tool that significantly reduces time and effort for managers. This tool also helps the company cut unnecessary expenses while avoiding mistakes that cause significant losses.
In short, this tool should be preferred to replace traditional calculation methods because of its advantages.
Hopefully, through the above sharing, you have clearly understood how to use the Timecard calculator to run your business and organization more smoothly and efficiently.
Thank you for reading!