What is employee time card?

The time card, also known as punch card is used by the workers of the company. The workers are asked to insert their time card in the automatic time stamp machine when they start and end their work. This machine calculates the timings of the job starting and ending.

Employee time card is used to keep track of the total time that a specific employee has spent on the job. The total number of hours spent on the job throughout the year are charted in the tabular form in a document which is known as time card.

This time card application is also used to calculate the hours spent on the daily, weekly or monthly basis.

Uses of time cards:

The time cards used for the employees are helpful in calculating the payroll of the employee. The management accounting department of the company also uses this time card.

There can be different types of time cards. Some time cards calculate the starting and ending time of the working hours of the employee while some only calculate the total time duration.

The time cards break down a project into series of tasks that are required to be accomplished, to complete the project. Apart from calculating the payroll, these time cards can also be used to estimate the total cost of the project and lots of other details.

Benefits of using time cards:

The time cards are very useful for the company because they make the process of calculating payroll simpler and efficient. The chances of mistakes in the payroll calculation are very low because of the smart machine that performs the calculation automatically
The time cards also make the cost of the company visible. The wages or the income of the employee ultimately depends on the number of working hours. The company can keep track of the total amount it must pay to the employees
The time cards also make it possible to perform the invoicing automatically. It not only saves the time but also makes it easier to handle the complex process of invoicing.