Time Savings by eliminating manual calculation of time cards.
An American Payroll Association study shows that the manual calculation of timecards takes approximately 6 minutes per card.
Human Error
Savings by eliminating manual errors in time calculations. The American Payroll Association study shows an error rate of between 1-8% of total payroll in companies that use traditional timecards. We will use a 4% error factor our calculator.
Overpayment
Savings from recovering time clock inaccuracies.
The American Payroll Association study concludes the average weekly "theft" of time (extended lunches and breaks, late arrivals and early departures, etc.) is 4 hours and 5 minutes per employee!
