Timesheets ensure accurate payroll, track billable hours for client invoicing, monitor project time and budgets, demonstrate labor costs, ensure labor law compliance, and provide data for productivity analysis and resource allocation.
Manual timesheets use paper or spreadsheets requiring manual data entry and calculation. Digital solutions like Harvest automate time tracking, calculations, and integration with invoicing and payroll, reducing errors and saving administrative time.
Include: employee name, pay period dates, daily start/end times, break times, total hours worked, overtime hours, project or task descriptions, client names (for billable work), supervisor approval, and employee signature.
Most businesses require weekly timesheet submission (matching weekly pay periods) or biweekly (for biweekly payroll). Daily submission may be required for certain industries or contract work. Establish clear deadlines to ensure timely payroll processing.
Yes, federal law (FLSA) requires employers to maintain accurate time records for at least 3 years. Requirements include employee info, hours worked each day, total hours per workweek, and pay information. State laws may have additional requirements.