Using an Excel time tracking template an obvious choice for a company who hasn’t done this before. There are advantages and disadvantages to this method.
Monitoring working hours is an essential part of a variety of business processes. It aids in invoicing, assists to monitor productivity, and gives information that is vital.
The main challenge in keeping track of the time spent working is in finding a reliable tool. For example:
Paper, pen and other low-tech solutions The basic basics, usually accompanied by handheld stopwatches when they go full-vintage. This method is probably best for highly motivated individuals and small groups.
Online spreadsheets – the obvious choice due to the fact that a majority of firms use spreadsheets for their day-to-day work
Time tracking software is the software piece created to only track and report on working hours. The solution is cloud-based or directly on the gadget, or offered in a hybrid version of the two.
From the standpoint of the small and medium-sized business owners From the perspective of a small or medium-sized business owner, the second option seems to be the most sensible option. It has its own advantages, however it has a few issues that should not be ignored.
The advantages of using spreadsheets in order to keep track of time
Spreadsheets, and in the future, spreadsheets that are online have become an unnoticed revolution in the world of business providing countless automated tasks for the countless white collar workers. A spreadsheet that is powerful enough is able to control the entire company and smaller spreadsheets are employed to monitor processes, monitor the amount of money, track resources, or to analyze and visualise information.
So, it’s not an issue that using a spreadsheet for tracking the duration of work has certain advantages.
Business intelligence
A spreadsheet, whether Excel or Google Sheets, deliver a large amount of business intelligence and analytics functions. This isn’t a surprise since that’s what the tools created for.
If one is competent or determined enough, it is possible to automate a number of tasks related to recording time, including the extra time, invoicing and many other tasks that are usually related to payroll.
Promotion of productivity
Utilizing the spreadsheet to record the duration of time is often the most popular choice for every company that requires or plans to implement any kind of time or productivity tracking system. It is therefore plausible to conclude that prior to the system of tracking employee hours in Excel it was not possible to implement such system and the entire process was conducted in a way that was based on trust. It’s either better or worse.
This system will be the initial step in determining and encouraging the efficiency of all employees. The sole display of the system may provide a surprising boost to overall productivity.
Increased accountability
On the other hand of the coin when you create a timesheet using Excel and then implementing it within the organization, it becomes much simpler to keep track of who, and how long they’ve completed a specific project. Apart from making the invoicing easier, this solution delivers more detailed information on the effectiveness and who-and-when-did-what. This is the initial step in identifying problems with productivity or misallocation of assets.
Comprehensive view
It is likely that the majority businesses’ processes are executed or monitored in different kinds of spreadsheets. Therefore, it is possible to enrich the data on employee time tracking by adding any other data he or she thinks appropriate.
Additionally, keeping track of time this way provides an extremely high level of data portability and the ability to act on it – there’s no issue making data exports in whatever format as it has already been exportable to the Excel spreadsheet.
User-friendly
Not to mention, almost every white collar worker is familiar with Excel Google sheets, Excel or other kinds of spreadsheet. So it is not a yet-another-tool-to-learn, but rather a next spreadsheet to use. The use of a spreadsheet isn’t something to be concerned about for the majority of users.
These advantages are all fascinating and are significant in a way. However, they also come with a number of difficult disadvantages that one must be aware of.
The disadvantages to using a spreadsheet system to monitor the time
The benefits mentioned above are fascinating and could provide a significant boost to companies of all kinds. The spreadsheet, though an extremely effective tool, is not specifically designed to track time. Although it is a fantastic tool for delivering reports on the time it tracks but it also has many negatives to be counted in.
Time-consuming
The most significant disadvantage of time tracking in spreadsheets is the it takes more time and energy than appears at first. You must remember beginning the clock, calculating the time, transferring the data into the spreadsheet, and then providing annotations. In reality, collecting information this way is such a hassle that employees are more likely to stay away from doing it, and then update their timesheet in the following time, but from memory. But that’s wrong and isn’t in line with the purpose.
Bloated and swollered
Another issue with spreadsheets is the desire to be the single-source of company’s business intelligence. It’s a great idea, but with a expanding company, the complexity and dimensions of spreadsheets are growing huge. Additionally, the number of errors hidden in the spreadsheet is increasing and sometimes it creates a slow running beast that takes more time. Each update is accompanied by a small but irritating delay.
A mistake – and prone
The spreadsheet provides automation in numerous fields, but not the tracking itself. The most crucial part of the system must be handled manually and, as such it is susceptible to human mistakes. The time tracking system can only be capable of being precise.
A Excel timesheet offers little or any tools that automatize the entire process, actually, it provides no benefits over the old pen-and-paper method. The person is required to use the stopwatch to transfer the information manually.
The errors in errors in the Excel Project Time Tracker hinders the effectiveness of other business processes such as payroll or invoicing – it.
It’s not quite as adjustable as it appears.
The spreadsheet is a fantastic instrument, but it’s not a master-of-all-trades and time tracking for employees is definitely not what it was created to serve. However, there is a way to alter Excel’s Excel Work Time Tracker to make it better suited for the purpose of tracking time however, it will require an extensive amount of knowledge and expertise in the use of the spreadsheet.
At the end of the day, making some more sophisticated adjustments to the spreadsheet in order to turn it into a time tracking system, it takes quite a task to produce a tool which isn’t yet suited for the job.
Additionally, Excel or Google Sheets are nothing more than an Excel spreadsheet, so any compliance with local laws on labor or regulations on data protection need to be handled within the company.
Inaccurate reporting
Even though Excel excel excels (no no pun meant) in the delivery of information and reporting, it’s only dependent on the data that is gathered. In the absence of tools for gathering the data, the efficiency of the reporting subsystem can be slowed.
The application designed to track time provides multiple automated and troubleshooting tools, such as automatic reminders to start as well as stopping it, automatic transfer of data, or notifying the manager of any disturbances in the work pattern. Users of the time tracking application can access their clock through the mobile or web application to make sure that the data is collected in a way that is convenient.
The most advanced options can be employed to scan QR codes or coupled with beacons to speed up the clocking further. This is how the most difficult task is the gathering of data is solved.
Summary
The spreadsheet is an incredibly versatile and flexible tool that can be used for a multitude of uses. It is true that it is able to be used to keep track of hours and even attendance. However, it’s not as efficient as timesheet tools online designed specifically for this function.
It is a great option for freelancers with a hectic schedule and a person who is driven to keep track of their time and confident about the goals to attain. However, when it is utilized by more than several professionals, the tool could result in more tasks than it offers. If you are using the software time tracking system the quantity of issues solved by design is an excellent incentive for any company.
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