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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 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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