When creating your paper timesheets, you need to include columns for the following:Īlternatively, you can use free printable templates for your employees. When it comes to running a successful business, timesheets are a must. The Fair Labor Standards Act (FLSA) requires small businesses to keep employee records (including hours worked) for all non-exempt employees. You can also use timesheets to calculate overtime pay for salaried employees if it applies. Employees record their work hours, overtime hours, lunch breaks, and other breaks using timesheets.īusinesses that employ hourly workers rely on timesheets for billing, payroll, and budgeting. Businesses that bill based on time use timesheets to bill each client accurately based on the work done. Management accountants analyze timesheet entries to figure out which tasks require the most resources or delay work. Project managers use timesheets to track projects’ progress and ensure they stay on schedule and under budget. Business owners review timesheets at the end of each pay period to calculate wages for each employee. Here are a few ways businesses use timesheets: Keeping accurate records is an essential function for any business, and tracking time is no exception. Timesheet records can include details such as the task, project, or client that the employee spent time working on. Whenever an employee begins working, a new time entry (or record) is created. Timesheets can be tracked on paper or digitally using a spreadsheet or tracking app.