Why do Bookkeeping and Tracking Time go hand in hand?

There’s cut-throat competition for everything in today’s world, and the last thing one would want is to be swindled. That’s why bookkeeping or keeping a tab on the financial transactions forms the backbone of a corporation. It not only creates an integral part but also is a delicate department. With the numerous tasks that show up in this procedure, one can quickly lose track of time. To avoid getting caught up in this mess, xTimesheet allows efficient tracking of time.

The firms that have a great number of clients, and have to deal with multiple of them regularly have a lot to keep up. And, if they are not managing their time well, by being everywhere and nowhere truly, several big and small tasks are spoiled. The various companies with their varying rapports, all need individual attention. And with this kind of overwhelming schedule, it is only human to botch up the accounts. If there is proper time-tracking happening, the accountant could know about the fumble and mistakes and also figure out if he is paying less attention to important firms and/or overworking on the ones that have been satisfied. Don’t bother thinking that xTimesheet would add to the list of chores. Instead, this digital time tracker is a piece of cake. You would not have to put in any extra effort to learn this application or figure out its functions. It works in the background. It will only be a blessing and no less.

Another icing on the cake of digital time-trackers is that it functions beyond time-tracking. Not every fish in the pond is the same. Not every client has the same billing rates and patterns. xTimesheet features personalization when it comes to this issue. Hourly billing and customization of the prices for differently paid employees are available. It makes this fuzzy task a pumpkin. Which, in turn, makes accounting easier.

Tracking time could result in a well-organized WFH

Be it a kindergarten student or the CEO of a company, and by this far, everybody is accustomed to the perks and drawbacks of work from home. The happiness of getting up late and still attending that 11 o’clock meeting is beyond expression. And, at the same time, the work pressure after wasting the whole long day is overwhelming. Amidst this chaos, some of us are managing to maintain a work routine and some of us are messing up badly. Some colleagues are working hard and performing well, so much so that their performance is better when working from home. Some corporations released data, which says that they have experienced better employee conduct during the lockdown period. However, all work and no play makes Jack a dull boy. Working less than required is bad, but working too much is worse.
xTimesheet provides easy tracking of time so that employees don’t make a hash of their time. It lets the person work just in the right amount and helps him/her squeeze in time for leisure and other activities.

Let us shed some light upon the aids:

Vigilance: The most important thing is that you’re subconsciously watched by yourself. If your work hours are being tracked, you would know about your performance, about the time you’re misspending or if you’re working too much. This will help you balance everything in the right proportion and time.

Record: Another important thing is maintaining records of the number of hours of work. This would be useful in tracking the overtime hours and if the employee is getting good pay. It would also be helpful to track the hours of work not done. This creates transparency between the employer and the employee, which is much needed in a healthy work environment.

Thriving Routine: xTimesheet helps one make the most out of his/her ’24hrs’. Procrastination, futile multi-tasking, and hours going in vain doing nothing can all be taken care of now. The chance of spending an organized day with everything in the right amount and the willingness to participate in every area of life should be cherished in these hard times.

Why are timesheets better than spreadsheets?

There are two widely used options for managing the workflow, namely, timesheet apps and spreadsheets. Spreadsheets have been in use for a very long time now. For many, they are the most trusted and preferable option. People who have been using them over the years have grown more and more used to it and find it to be a reliable medium. However, on the contrary, timesheet applications have proved themselves to be much more efficient and more comfortable. Their comprehensive set of options and automatic functioning are accurate and quick and require less manual attention. One of such apps is xTimesheet. xTimesheet provides speedy and convenient delivery of the work commands. It does not need the user to enter everything manually; instead, a one time command is sufficient.


Let’s figure out ways in which timesheet apps are better:

Suitability: Even though xTimesheet is a newer option, if picked up now, the user will very quickly get accustomed to it. He/she will experience a vast difference between handling and convenience of both the media, how most of the tasks have become mechanized and automated, and how accuracy has increased, without any re-checks.
Price: Unlike spreadsheets, timesheet apps could be free of cost. Since they are apps, they are generally free up to a specific number of users. Even if there are charges, they are very nominal and affordable. So, directly implied, xTimesheet is a cost-effective option.
Speed and Accuracy: To err is human. So, even if a flawless person is in charge of the spreadsheets, there will still be some mistakes that happen incognito. To check and again double-check them, manual assistance is inevitably required, which adds up to the speed issue. To get away from this, automated, one time commands are offered by xTimesheet. Speedy and accurate results are provided by these applications.

Now is the right time to switch to xTimesheet for a hassle-free experience if you’re still crawling with spreadsheets. It would be a change that will prove worthy of the effort of learning something new.

What is Online Attendance Management, and how does it shape up the future of Corporates?

Online attendance management is a very modern-day concept where employees’ productivity is monitored with software build to perform this function mainly. This monitoring is real-time based and helps keep a complete track of the number of hours an employee has worked. This time tracking software does not only monitor but also can store data.

The attendance of each employee is a parameter based on which they receive their paychecks. Attendance shapes the future of the corporates as this real-time data shows their sincerity and punctuality at work. The time tracking tools have an entry-exit time frame set in them. It means a delay of a minute at work can cost a loss in income to the employees.

Online attendance management has made employees more efficient and punctual at work. Organizations can value and appreciate employees that are hardworking in actuality and get hold of employees that disguise to be one. The system is not only beneficial to businesses and organizations. Employees get paid for extra hours of work and projects they handle. No hour is left uncounted, and an error-free salary receipt is generated. Other benefits of such software are that if an employee is unable to visit the office due to some health-related or personal issues, they can work from home by logging into the software sitting at home. These systems are very cost-effective.

The better are the statistics about an employee, and the more are the chances of them getting promoted or receiving a fair bonus for their diligent performance. Thus, these time management tools play a crucial role in shaping the future of an employee.
xTimesheet is a very functional time tracking software with a fluid interface. It is compatible with Android and Windows, enabling employees to enter and exit the software anytime and anywhere. It performs functions like activity tracking, project management, expense management, and generating invoices.

The five most important factors leading to a productive workplace

There’s this quote by Robin S. Sharma that, “Productivity is less about what you do with your time and more about how you run your mind.” Any workspace needs that environment and facilities to make the mind run in the right direction. There are varied factors that influence workplace productivity. Here are listed five most crucial ones.

  1. Distractions- An average human brain processes up to 6,200 thoughts per day. To say, you have ten staff members, now multiply it with this four-digit number, and a result you h the number of ts present in that space. Thoughts are essential to generate ideas, but all of them won’t be productive. Instead, it’s better to say that many of them can be distractive. Keeping your staff away from distractions can be a colossal challenge. Thus, having policies like no social media during work and giving your employees a reasonable number of breaks is recommended for increasing competence at work.
  2. Workplace Environment- The environment we work in is expected to be peaceful, and it must help concentrate. The physical surroundings and the essence of the very place, the seniors, co-workers, and subordinates we work with influence our work efficiency immensely. Maintaining a supportive and cooperative environment is essential for growth in productivity during work hours.
  3. Personnel Training- How well personnel has been trained and how well they have imbibed the training plays a vital role in the quality of performance. An employee should be able to perform well without supervision or in case of absences of directives if they are trained well. This saves the precious time of a senior, which would otherwise be put to use for essential tasks. Thus, selecting proficient candidates and their training is a vital factor leading to productivity at the workplace.
  4. Employee Wellness- The workforce is the key factor with which the day-to-day activities of an organization are executed. Looking after the well being of employees, keeping them happy by providing them security, and giving them appraisals from time to time will keep the employees motivated at work. Providing necessary refreshments at work will keep them rejuvenated. All of these are little things, but they matter.
  5. Workplace Technology- One significant factor is the tools and equipment used in the workspace. The technology includes applications, software, devices. They should support the employee in achieving goals and reduce the amount of time they would otherwise waste on a small task. It should make completing tasks seamlessly. One such technology that you can incorporate in your workplace if you are a Start-up, SME, Agency, or Enterprise is xTimesheet. It enables you to track the productivity levels of your employees using timesheets. It not only is helpful in time management but also will help in invoice processing and calculates billable hours. Keeping track of your employee’s work throughout the day and for 365 days, hassle-free is the need of the hour.

Beat the ‘Work from Home’ isolation blues

Our work gives us goals in life, keeps us motivated and high spirited, but sometimes it might just make you feel isolated and lonely if you’re someone who is permanently working from home for years or is trying to adapt to it. The laptop lifestyle, more than being a privilege, is becoming a problem. Thus, here are five tips for you to keep up with the Isolation blues when you’re working from home.

Plan to work outside of the house- Working from home gives a lot of advantages and relaxation, but it can also fill you with loneliness and isolation due to the lack of human interaction. People develop habits of sitting and working in the same space day after day, making work-life monotonous. You can get rid of this dull lifestyle by merely switching to a new work environment. Find another place outside of the house that helps you concentrate and gives you that inspiration you were looking for. It can be a cafe, a friend’s place or even a park.

Schedule Video Conferences- Video conferencing is the easiest and most practiced way to stay connected in today’s world. Get your clients, co-workers, even friends that aren’t related to your work on video chats. Emails are necessary, and they serve the purpose of communicating pretty well, but nothing can replace a face to face interaction. It’s easy to explain, understand, and discuss topics in video conferences. It can help in avoiding unnecessary waste of time and confusion, also can be a savior in the times when you feel isolated.

Join or build a group or community- Building or joining a group related to your interest can help you keep away from the feeling of isolation. These groups can be work-related or anything that enables you to keep up with your hobby. Sharing things from your everyday life, such as pictures of your plants or pets or books and movie recommendations, can be very refreshing. People with varied skills can share tips and teach one another so much. One must look forward to being a part of such groups if you feel a lack of human interaction and connection.

Reach out to your co-worker’s- If you’re someone who is permanently working from home and don’t meet your co-workers regularly, then finding people who work in the same organization and spending time with them can help you beat that quarantine feels. They don’t need to be from the same department as yours. So, don’t just phone a friend, but find a friend.

Schedule your day- This is one of the most difficult to follow, but it’s essential to recognize how crucial it is to keep up with a schedule even if you don’t visit an office daily. Working from home is not like you need to sit with a laptop until midnight. Plan out your day for other important activities. Planning out things in advance can help you in keeping your work and personal life separate which will give you time to meet and be around people.

Reasons to keep track of work hours (both as an employer and an employee)

A regular office-goer works “nine-to-five.” We all know that. Then what is the need for tracking the hours? Because now, neither the hours are fixed nor the workspace. People are busy working from home for prolonged hours, which makes tracking the worked hours even more necessary today.

Time tracking has been in the regime for a long time now, and its boundaries are not just limited to mere payroll activities. Time tracking is very important task for any organization, and in this article, we will delve deep into the process.

Why is time tracking important for employers?

For paying the Salaries (plus OverTime)

Employees work hard to accomplish the goals of the company, and they must be paid accordingly for every hour that they had worked. Shifting to the office workspace looks farsighted, and therefore, software like xTimesheet can monitor the tasks.
Employees can fill in the timesheet mentioning the hours invested in each project.
You can quickly generate an excel sheet for a detailed report and know about an employee’s worked hours and other work-related info right on your device.
Features like charts and graphs hand easy statistics which make salary computations easier.
Continuous time-tracking ensures reliable data.
Every hour that an employee works beyond the dedicated schedule entitles him/her to an OT, and he/she can easily claim it on the basis of the xTimesheet report.

Prevent time-theft

Studies show that people waste almost 8 hours a week. This might lead to reduced productivity and a substantial increase in the expense report.
No more Proxies! Proper time tracking methods will put a stop to buddy-punching.

Why is time tracking important for employees?
Keep track of the time for menial tasks

The extended work hours have resulted in the addition of work out of the job description. Therefore it is necessary to track each activity so that employees can have proof if their primary duty gets hampered.

Organize Productivity
Using software like xTimesheet will help the employees to keep an eye on their productivity. The analytics used in xTimesheet will indicate the areas which need improvement, and an employee can work on his/her growth accordingly.

“The most efficient way to live reasonably is every morning to make a plan of one’s day and every night to examine the results obtained.”

How good team connectivity works

“Talent wins games, but teamwork and intelligence win championships.” –Michael Jordan.

In the times of remote working and work from home, staying connected is the biggest challenge that a team faces. “Connection” is a very vital aspect of a workplace for accomplishing the objectives of a company. Organizations have strived to work on team building activities so that people can build in real connections.
Rather than following the pyramid structure, companies nowadays prefer a tree structure where instead of departments, they work in teams. It is very important for employees to relate to each other’s ideas and perspectives and connect to them so as to achieve a task efficiently.

Now the question is if a company is productive on the front, is it really important for the people to be connected? The answer is Yes! If employees are connected with each other and with the company objectives, they tend to give in more efforts. Let’s say, a task is aspired to be completed in 6 days, if an employee feels the connection with his/her workplace, they may increase their productivity and provide their deliverables before time.

A good software like xTimesheet fosters the process. An employer can assess the progress of an employee on the basis of their timesheet. Its feature like Statistics can give a detailed analysis of the productivity of an employee. If there is the transparency of information between the company and the employee, they will feel connected ergo, working more effectively.

Companies can leverage thousands of communication tools for a team to work efficiently, but only when the human and social capital come together, a connection is formed. It is important to gauge the labor that an employee has endeavored to achieve a goal, but it is more important to evaluate what a team brings to the table with their acquired resources and knowledge.

What is Full Time Equivalent FTE and How to Calculate it?

FTE for an employee is used to calculate the number of hours that she/he had worked in a week. It is calculated as:
Employee’s scheduled hours are divided by the Employer’s hours for a full-time workweek.
The primary 9 to 5 job (with 1 hour of lunch break) has a scheduled workweek of 40 hours. So, an employee who accomplished the complete shift of 40 hrs has an FTE as 1.0. Similarly, if an employee covered 20 hrs, her/his FTE will be calculated as 0.5 and so on.

Calculation of FTE is very important for an organization in terms of determining the cost and billables for a project. Converting hours worked by part-time employees into full-time equivalents can be helpful when calculating these metrics. It is also crucial for decisions pertaining to resource management, especially for staffing- in terms of measuring project duration, resource compensation packages, among other functional aspects. A company may also use the FTE data to benchmark revenues or profits per employee.

This metric can be very useful for companies which usually charter the services of contractors on a large scale and endure projects for months. In the same way, part-time employees can benefit from FTE since they tend to sometimes lose benefits as compared to full-time employees.
Many Softwares allows for achieving this objective, such as xTimesheet. It has a well-built timesheet approval system and invoice module, which can handle this very well. The user only needs to click generate a monthly invoice after selecting the required project and duration of the billing period. Its advanced time tracking feature dispenses the option to make more reliable budget estimates.

Summing up, FTEs give the success of accurate forecasting. It will help you plan your project work in regards to deadlines and your budget. Once you decide the specific purpose of FTE, follow through with it.

Performance Review: 5 Common Methods and Self-Evaluation

“The simple act of paying positive attention to people has a great deal to do with productivity.”
-Tom Peter, American Writer on Business Management Practices

Accolades and shout outs are great, but a formal performance review is vital to an organization to get insights on the accomplishments of their employees, their areas of improvement, and their overall success. To achieve this, there are five standard methods that each company follows to conduct performance reviews.

360-Degree Feedback Method :
The name itself justifies its purpose. Imagine it to be a system where the employee under scrutiny is in the center of a circle, and her circumference (here, environment) encompasses people like her managers, team members, her co-workers, etc. who are familiar with her work culture, behavior, and her performance. The primary data here is the feedback provided by these people.

Management by Objectives :
It aims to evaluate the employee based on his achievements towards the company objectives. It ensures that the employee has an understanding of the company goals and is working towards the success of the organization. This is also known as the Management by Results method. For implementing the MBO method, the company needs to have fixed goals inlined with the SMART process:
S – specific,
M- measurable,
A- achievable,
R- realistic, and
T – time-sensitive.
Software’s like xTimesheet can succor to achieve this goal. Managers can keep a check on the employees’ productivity and performance. So, when employees display excellent results, they get rewarded with a raise or a promotion. On the contrary, if employees have unproductive results, they will receive further training.

Checklist :
Just like a To-do Checklist, a company imposes a behavioral checklist, which entails a list of behaviors that an employee is expected to display in a work environment. A questionnaire is prepared by the organization for the employees where they have to respond to each question with a ‘Yes’ or ‘No.’ The evaluation may differ based on the job type.

Rating Scale :
This is a standard metric that is followed by almost all organizations worldwide. It is commonly done on a scale of 1 to 5 or 1 to 10. It evaluates both the qualitative and quantitative characteristics of an employee, like behaviors, competencies, on-time completion of the tasks, attendance, etc. Softwares like xTimesheet cater to tracking some of these traits. The determining behavior at the top of the scale should be arriving to work on time and leaving after the shift is over. xTimesheet has a Modern Time Tracking tool, which aids in clocking employees’ worked hours and can keep a check on their productivity as well as their attendance.

Self- Evaluation :
The name itself informs about the method. The employee has to evaluate her/ his own performance based on specific predetermined criteria and values adhered to it. Employees have to identify their strengths and weaknesses and rate them accordingly.
Self-evaluation should be as follows:
Specific- The employee should provide facts and figures and should not include vague statements. It should give a clear insight into the performance.
Connected to organization goals- The employee should describe how her/his performance has been a value-addition to the companies objectives.
Based on the STAR method- The employee should demonstrate her/his Situations and Tasks, and how he had taken up a course of action to yield the desired results.
Employee’s Aspirations- As much as the self-evaluation seems to focus on the previous work and achievements, it is also an open door for the employee to mention his goals and intentions for the future.