This year, we will explore the payroll process in depth. Every month, we will cover a different payroll function and explain its purpose and importance, and why keeping your payroll running smoothly, professionally, and efficiently is of vital importance to your business and keeping your employees content at work; it shows that the company values and respects its workforce. Payroll affects employee satisfaction in many ways, so accuracy is pivotal.

Timekeeping is the process of tracking and recording the hours worked by employees in a business or organization. It involves monitoring when employees start and end their work shifts, as well as any breaks taken during those shifts.

Systems can vary, ranging from traditional methods like manual timecards or punch clocks, to modern digital solutions such as electronic time clocks or software applications.

Timekeeping is important for various purposes, such as:

  1. Calculating payroll accurately and efficiently
  2. Complying with labour laws and regulations
  3. Gaining insights into workforce productivity and efficiency
  4. Enhancing employee satisfaction and trust
  5. Payroll accuracy and efficiency

Accurate employee timekeeping is key for maintaining precise payroll records. By correctly tracking employee hours, businesses ensure that each employee is fairly compensated for their efforts, in alignment with wage and hour laws. An effective timekeeping system can help businesses to confidently meet the requirements of the labour laws, fostering trust and transparency between employers and employees.

Red Dot Now provides accounting, payroll and tax compliance services using the best of breed online technology.

Should you want to discuss this, or any of our services further, contact Ryan Coates on e-mail at ryan@reddotnow.co.za