Top 5 Benefits of Accurately Tracking Time and Attendance

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Top 5 Benefits of Accurately Tracking Time and
Attendance
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• Time theft is a very real problem for many
  businesses, large and small alike, and is said to
  be an act frequently committed by up to 80 of
  the current workforce. Over time, such theft can
  have a real impact on a companys bottom line and
  it brings to light how simple it can be for
  employees to be dishonest about their time spent
  doing the job they are paid to do.
• Bearing this in mind, accurately tracking time
  and attendance of employees should be a top
  priority for all business owners, and listed
  below are just five of the many benefits of
  utilising a dedicated time and attendance system

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• 1.It allows you to spend less of your time on
  payroll duties
• This is perhaps one of the most rudimentary
  benefits of using a time and attendance tracking
  system, but can make a real difference to a
  business. Employees and HR staff will not need to
  spend as much time tracking, recording and
  processing their working time each day, week and
  month and some systems enable time spent on
  payroll to be reduced by up to 70.
• 2.Puts a stop to time theft
• Taking longer breaks than entitled to, or
  clocking in for others when theyre late
  (commonly known as buddy punching) can both be
  minimized, if not stopped

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• altogether, with the use of a time and attendance
  tracking system. Often said to cost companies
  losses of up to 75, you can see how important it
  should be to reduce time theft.
• 3.It stops bookkeeping errors
• Human error is always a risk, and even the best
  bookkeeper with the best of mathematical minds,
  can make a mistake that could go on to cost a
  company dearly. Not only may a bookkeeper make an
  error when making their calculations, but
  employees may not be accurate in recollecting
  their hours worked, or when they finished early,
  started late etc.

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• Having a system that enables employees to input
  their hours daily and then calculates payroll
  automatically, should put an end to the risk of
  human error.
• 4.Paperwork requirements are limited
• Many hours each day, week and month are spent
  organizing and processing paperwork, but with an
  automated time and attendance system, this can be
  greatly reduced. Not only will it save on time,
  but on resources such as paper, writing
  equipment, printer ink and toner, which can be
  costly when added together each month.

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• 5.Businesses can be legally compliant
• Staying on the right side of the law is vital for
  all businesses, as penalties for not complying to
  the Fair Labor Act can be costly and businesses
  also leave themselves open to expensive lawsuits
  from disgruntled employees.
• There are numerous reasons why all modern
  businesses should switch from time consuming and
  unreliable methods of tracking time and
  attendance, to newer, more cost effective and
  accurate methods. There are many companies out
  there who specialise in such systems, and with a
  little research you should easily find a
  reputable company that will have a system that
  can be adapted to suit any businesses specific
  needs.

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• Apollo Payroll is one of the premier small
  business payroll services companies in Miami and
  Coral Gables. Apollo Payroll is dedicated to
  delivering expert advice, responsive service, and
  highly accurate payroll processing and reporting
  to ensure the success and growth of the business
  that we serve. Our services include comprehensive
  payroll services in Hialeah and other cities in
  Miami-Dade County, employee background check and
  group health insurance in Miami Coral Gables.