Bookkeeping Success in Managing Resource Time-Entry
Posted by Sean MacKenzie on Fri, Sep 18, 2009
Say you're a bookkeeper; why would you want to change your small or
medium sized business over to an automated time entry or time-tracking
system? Well, you're going to get some of the biggest gains when it is
switched over.
How many timesheets do you manage in a month? Do you use paper
timesheets? An excel sheet; maybe one with a macro? How much time does
it take to finish it each month?
The amount of time saved in automation grows as you handle more and more
people. Say you have a company with 25 employees and contractors
working for you. A short month might have 21 workdays in it, so if you
are doing a manual sheet every day, you might have 525 sheets to
process, plus comments and dozens of expense entries. Even if people
only fill in a sheet one time per week, it is over 100 timesheets to
process.
Feedback from our customers tells us that, even for a company with only
25 people, this manual process can take over a week when you include
processing the invoices. Customers with the best success in converting
time entry have seen their time committment go from 5 or more days to 1
day (80%+ reduction in effort and cost). Numerous other benefits, like
the speeding up of receivables, have also followed successful
implementations.
So, we ask you: Are you a bookkeeper in a small or medium size business?
How many timesheets do you process? How long does it take you?