Time tracking spreadsheets are user-friendly tools to keep track of employee time. Employers can quickly learn to use these tools to budget time, increase efficiency, and aid in planning. This article will help you create and use spreadsheets to help your business stay on track.
In this article, you will learn how and why these spreadsheets are practical tools for businesses of any kind. Read on for information about how to use these helpful tools in your company.
What is a Time Tracking Spreadsheet?
Above all, time tracking spreadsheets are tools companies use to budget employee time. Companies can utilize these spreadsheets to learn how much time an employee spends on any particular task. Understanding how your employees spend their time can have a significant impact on your company’s bottom line.
How Time Tracking Spreadsheets Can Benefit Your Company
Knowing how employees use their time on the job is difficult. You certainly cannot follow them and observe every task they accomplish. However, this knowledge is quite valuable for your company.
Time tracking spreadsheets help you pinpoint the amount of time a particular task generally takes. For instance, you may want to examine time spent on urgent calls or writing emails. Although these tasks are a normal part of a business day, it is helpful to track the total amount of time employees spent on these activities.
The benefit of tracking these activities is that your company can plan more efficiently to reduce time spent on these activities. This principle applies to any business activity, from administration to product shipment.
For instance, you might discover that one or more departments in your company need more or fewer employees. In addition, some companies may find a need for extra training or a mentorship program to help meet your company’s goals. With time tracking spreadsheets, a supervisor can identify where employees can work more efficiently to cut costs. These are only a few of the ways that tracking time can benefit your company.
Sample Daily Time Spreadsheet
For this sample, time is divided into 30-minute slots.
Daily Time Sheet
In each column, the employee enters the appropriate activity name.
Time Tracking Spreadsheet Templates & Examples
Different Methods for Tracking the Time
Various methods of time tracking are available. In this section, you will find the plan that works best for your company.
- Paper Method: With this method, employees write down the amount of time spent on tasks. Although this method seems simple, it requires more effort than a spreadsheet because an administrator or accountant must calculate and correlate the numbers.
- Spreadsheet Method: An efficient method of time tracking is the spreadsheet method. It provides an electronic record of employee’s time spent on each task they perform. In addition, calculations are completed by your spreadsheet program, making reporting and evaluation a simple matter.
Note: Time tracking methods are somewhat dependent on employee honesty and adequate employee supervision. However, the spreadsheet method is more reliable than the paper method. Moreover, employees can quickly learn to enter time on spreadsheet software.
Types of Time Tracking Spreadsheets
Microsoft Excel is the most commonly used type of spreadsheet; Google Sheets ranks number two. Using either of these spreadsheet programs, you can design a practical method of tracking employee time. Below are some ways you can utilize your spreadsheet software to produce optimal reporting for management and investors.
- Daily Log Sheets: For this type of spreadsheet, divide time into 15-minute intervals. The employee enters the activity and possibly the labor cost associated with the time slot. For instance, if an employee is on the phone for 12 minutes, they enter “customer calls” or “supplier calls” for the entire 15-minute slot.
- Weekly Summary: The weekly summary correlates daily log sheet data to produce practical reporting information. To create accessible and profitable information for management, use the graphs and charts available in your spreadsheet software. Visual representation is efficient, allowing managers to quickly and easily understand data.
Why Track Time in an Excel Spreadsheet?
When all employees enter their time on an Excel spreadsheet, collating the data at the end of a period is straightforward.
- You don’t need to file paper timesheets, so you save time and filing space.
- You can quickly view productive and non-productive employee hours.
- Calculations are preloaded, so daily, weekly and monthly data are quickly available.
- You can add labor costs, material costs, and other valuable data to reports.
- Graphs and charts of various kinds are preloaded and require little or no formal training to use.
Tips for Using a Time Tracking Spreadsheet
- Ensure your spreadsheet contains each employee’s name.
- Create clear and consistent activity names to use throughout your company.
- Hold a training session for employees to understand how to enter their activity and time on the spreadsheet.
- Add total daily hours and billable hours to your administrative spreadsheet routinely.
- Be sure you are using the best spreadsheet for your purpose by using a preloaded template that contains all the information you need.
- Add columns, rows, and headings as required. You can design your own spreadsheet or customize a preloaded one.
Tracking time with a spreadsheet is simple and quite beneficial for your company’s bottom line. Both Excel and Google Sheets have multiple easily accessible functions that help you reach the data you need. Moreover, you can create professional reports using preloaded templates to give management the information they require clearly and concisely.