3 Reasons to Stop Using Spreadsheets for Time Reporting
Excel spreadsheets have been an inseparable part of the accounting and time reporting of many businesses. Although you can use spreadsheets for numerous different data related needs, here is why you should not use them for time reporting:
3 Reasons to Stop Using Spreadsheets for Time Reporting
Human-errors. Truth is that spreadsheets are very vulnerable to all kinds of errors, and the data stored in them is not in accordance with fact or reality. Even with time reporting if one single number is important for the proper accounting.
Further reading: The Human Errors That Regularly Mess Up Your Business
Access. The spreadsheets are editable by only one person at a time. Which leaves you with only the option of having everyone submitting reports to a single person, who is to record them in the spreadsheet, or use an online spreadsheet that is accessible and visible to a limited range of people.
Further reading: Primary Concerns From the Ineffective Data and Information Management
No real-time updates. Real-time tracking and recording are not an option when you use spreadsheets. They are only working with manual input, which is highly inconvenient, the more employees you have. Then again it leaves the question, how accurate is that manually inputted time?
Further reading: The Advantage Of The Cloud-Based Timesheet App
All this being said, using spreadsheets for time recording leaves a great hole in your budget. It is not an accounting-friendly option when it comes to the salary calculation of employees. This is one of the reasons why the time tracking software is equipped with timesheets and accounting options. That gives clarity and transparency and leaves no room for human errors.
Thus the simple answer to errorless time recording is the usage of time tracking software. As a project and time management tool, it covers the needed function of time tracking and accounting. It is made to cater the specific needs of the team time management.
In this article: Project Management Business Management Time Management
Author Julie D.Posted on Categories Business management, Project management, Time management & Time Tracking