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Using A Time And Attendance System To Increase
Payroll Accuracy
Automated time and attendance systems have been
available to and cost effective for larger
businesses for several years. However, high
acquisition and installation costs have
historically made such systems impractical for
small to medium sized companies to implement.
That has recently changed, and there are now
several time and attendance systems available to
smaller businesses – and they do increase
payroll accuracy and company profitability.
Since the beginning of history, technology has
been used to increase accuracy and productivity.
It started with the invention of the wheel and
has snowballed into automobiles, computers,
satellites, and so much more. These technologies
have allowed users to accomplish more work in
less time with a higher level of accuracy.
Automated time and attendance systems are no
exception.
Automated time and attendance systems track
hours worked, overtime, as well as missed or
late punches. . Not only does this eliminate the
number of personnel hours needed to process
payroll, but it also eliminates losses from
inaccurate data entry, buddy punching, and
inaccurate time car completion.. Automated time
and attendance systems provide instant,
accurate, tamper-proof information.
There are several different types of time and
attendance systems available for small and
medium sized businesses: Barcode time clocks,
magnetic stripe time clocks, RFID (proximity)
time clocks, and biometric time clocks.
Barcode time clocks – Each employee is issued a
unique barcode on a badge. The employee must
pass his or her badge through the machine for
scanning.
Magnetic Stripe time clocks – Similar to the
barcode system, each badge is equipped with a
magnetic stripe, much like that on a credit
card. When the badge is swiped through the time
clock, the information is read from the card and
entered into the system.
RFID (Proximity) time clocks – With this type of
time and attendance system, the employee needs
only to wave his or her badge near (not
necessarily through) the time clock in order for
the information to be captured and logged.
Biometric – With a biometric time and attendance
system, employees clock in and out using their
fingerprint. While this has historically been
the most expensive type of system, the
technology advances in biometrics have now made
this surprisingly affordable and popular. . This
is most effective in preventing inaccurate time
cards and buddy punching. It also reduces losses
associated with damaged, misplaced, or stolen
badges.
Because smaller businesses are very ready and
willing to adopt technology and are doing so at
a very rapid pace, vendors are catering to this
niche market. The entry-level pricing on a time
and attendance system starts at around $500 with
complete biometric time and attendance solutions
starting under $1,000. Most systems are ready to
use right out of the box but are scalable to fit
any sized business. Time and attendance systems
are easily connected to a PC or a network and
are easy to install.
These systems protect companies from losses
associated with employee dishonesty and human
error and reduce the personnel hours required to
process payroll. With a minimum investment, it
is very simple for small and medium sized
businesses to ensure accuracy of payroll and
increase profitability through the use of a time
and attendance system. A study by APA shows that
by adapting an automated time and attendance
system, companies can realize up to a 4% savings
of their annual payroll.
By: Freelance Writer -
Article Directory: http://www.articledashboard.com
By a freelance writer for WaspBarCode.com/:
www.waspbarcode.com/ providing Automated time
and attendance systems. Article reproductions
must include a link pointing to
www.waspbarcode.com/ . |
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