Presented by Daniel Toriola
A payroll software package to satisfy the PAYE requirements can be just one part of making that small
business more efficient.Small businesses that fail to operate a sound payroll system can produce a negative
effect on the employees.
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Employee Time Tracking And It’s Benefits
By Freelance Writer
Employee time tracking has been around for over a hundred years. It is said that the first time clock
was invented in November of 1888 by Willard Bundy. Bundy’s brother then opened the Bundy
Manufacturing Company, later to become IBM. While the idea of tracking the time and attendance of
an employee remains virtually the same, the systems used to do it have vastly changed.
Since the 1990’s, computed based systems have become widely used to track an employee’s time.
This can be done in many ways from using a magnetic card to scanning finger prints. While time
tracking can be beneficial to any size or type of business, the benefits for a small to medium sized
business are tremendous.
* Money Savings – it is estimated that up to 4% can be saved of annual payroll with a time and
attendance system. With the hardships small businesses face these days, any monetary savings are a
benefit. There are less data entry errors when payroll is calculated or attendance is recorded. The
savings are increased when a biometric system is utilized. Biometric systems utilize one of more
physical characteristics (such as finger prints) to identify an employee.
* Eliminates “buddy-punching” and tracks time off – Buddy punching is the practice of one employee
clocking another employee in or out. This can cause hundreds to thousands of dollars in loss to a
company. The systems can also capture and track sick time, vacation, holiday pay and conference
time away from the office.
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