Knowing More About the Monthly Timesheet
A monthly timesheet can be used by the HR and finance departments to track the working hours of each employee to calculate their salary each month. It is one of the many tools used by companies to help properly calculate the working hours for all employees and to calculate their salaries as well. By using a timesheet, they will be able to find out if an employee is doing any overtime hours during that month, if they have taken any sick leave, how many annual leave days they have left, and many more. Doing their payroll each month can be made easier and more practical by being able to track their working hours in a monthly timesheet created in Microsoft Excel.
If you don’t have a template just yet for all employees to fill out, you can use a template that you can search online as an example. Most templates will already have the formula and different features that will be able to automatically calculate working hours or salaries. By doing that, you will minimize the risk of miscalculation and the task of counting work hours or salaries can be done more efficiently and effectively. Before all the HR software that are around in the market like now, using manual timesheet is something that has been done by a lot of companies. For small to medium companies, using a monthly timesheet created in Microsoft Excel is still viable.
Even by using a simple monthly timesheet in Microsoft Excel, you will be able to track all the working hours of the employees. This way, it can be used as a tool to measure the time management of each employee within that month. You will also be able to see if all employees come into work ontime or if they come in late. Since the rules and policy of the company usually state what time employees should start their work in the morning, if they are often late, you can give them a verbal warning (or written warning for repeat offenders). The HR department will also be able to see if each employee could finish their work task assigned to them in time or not by using a timesheet.
Samples of Monthly Timesheet
How to Create a Monthly Excel Timesheet by Using a Template
For staff that is involved in project management, it is crucial to keep track of everyone’s working hours in a monthly timesheet especially if you have some people in the team that is freelancing or working temporarily. With some projects, not many people that are involved in it are permanent staff as they could only be there temporarily until the project is done. A project timesheet can also be used as a good measure for each employee’s working performance. During their annual review, the management team will be able to pull up their timesheet record and use them as a consideration as well.
Creating a monthly timesheet in Microsoft Excel can be quite easy especially if you need to track the working hours of the people working on a project. It can also be called a project timesheet for that month. If there are different months in the project, you will be able to see the working hours for each month. With some companies using more modern technology to track their employee’s working hours, they might have switched to a digital system for their timesheet. Although to use this type of timesheet, you will need to have some budget set aside for it too.
Monthly Timesheet Template – Excel