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Is Entering Your Hours a Waste of Time?

Is Entering Your Hours a Waste of Time?

Entering hours can be tedious and seem like a waste of time to employees. From my experience there are three types of employees when it comes to tracking time:

 

The Pro: The Pro almost always has her hours entered on time. She rarely forgets or makes an error. About 20% of employees are Pros.

The Dud: The Dud rarely has her hours entered on time. She often forgets to enter her hours and makes frequent errors. About 20% of employees are Duds.

The Bud: The Bud usually has her hours entered on time. She sometimes makes errors. Most employees, about 60%, are Buds.

 

Education is the most effective way to improve time tracking and motivate employees to enter their hours. It’s best to focus on the Buds, as they’re most likely to improve their performances; generally, Pros will be Pros and Duds will stay Duds.

 

First, employees need to understand how crucial it is that they enter their hours in on time, and accurately – and you’d be surprised how many don’t understand what happens with the hours they enter. Without their hours entered payroll cannot be processed and they can’t be paid. Clients cannot be invoiced if hours are not entered, meaning the company won’t be paid. And worse, if employees forget to enter their hours, or make errors, this can result in under-billing clients or clients noticing those errors, all of which affects the professional image of the company.

 

Some not-so-obvious problems that occur when hours aren’t entered include a loss of productivity and a negative impact on morale. When employees do not enter their hours supervisors have to remind them and then review their hours until they are entered. This wastes the supervisor’s time and can cause resentment towards the employee if it occurs on a regular basis. Those responsible for processing invoices and payroll may also have their time wasted, the end result being a loss of productivity and a potentially negative work environment.
Including information about the importance of time tracking in your Employee Manual and having employees sign off on it can result in modest improvements in performance, though there may always be employees who forget to enter their hours. The best way to improve performance is through daily reminders, and while this may seem like a tedious and frustrating experience we’ve found that sending an automated email near the end of each work day resulted in a significant increase in time tracking efficiency. This is a less intrusive and non-personal method of reminding employees they need to enter their hours, and results in a more efficient, productive and happier workplace all around.

See OOLYO features and pricing for how OOLYO can benefit with tracking your employee hours.

How to Use Oolyo Time Tracking to Maximize Your SR&ED Claim

How to Use Oolyo Time Tracking to Maximize Your SR&ED Claim

For all of the new company founders and colleagues who are beginning to research the positive financial impact claiming SR&ED credits, this post is for you.

SIGN UP NOW FOR YOUR FREE TRIAL

 

Let’s start with what SR&ED actually is and from there we’ll let you know how we can help get you set up to claim.

SR&ED stands for “The Scientific Research and Experimental Development Program”. It is a federal tax incentive program, administered by the Canada Revenue Agency (CRA), that encourages Canadian businesses of all sizes, and in all sectors to conduct research and development (R&D) in Canada. It is the largest single source of federal government support for industrial R&D.

http://bit.ly/1hWT8Mi

The SR&ED Program gives claimants cash refunds and/or tax credits for their expenditures on eligible R&D work done in Canada.

One of the big challenges for new companies wanting to file for SR&ED is tracking what you’ve been doing and how long it’s taken. Then the challenge becomes reporting your hours to your SR&ED claims expert for them to verify your claimed advancements and submit them to the Canada Revenue Agency.

If you’d like to read more about SR&ED, this guide from Boast Capital is a perfect place to start: http://bit.ly/1DR3PKT

So how can we help?

Oolyo online time tracking software is much more than a regular timesheet or excel spreadsheet. It allows you and your co-workers to input time and tag any time worked on projects that may be eligible for SR&ED. Not only that, it’s easy and fast to enter any notes that may be of importance for your SR&ED consultant to review.

  • Automate and easily track labour time and costs associated with projects eligible for SR&ED.
  • Justify SR&ED tax credit claims to CRA reviewers with documentation and reporting.
  • Ensure your organization receives the tax credits to which it is entitled.
  • Implement the tools and methods used by successful claimants.

Want to get started on your  SR&ED filing?

Get Started

 

Oh and if you need some help, here are some great experts in the field:

Love,

The OOLYO Team

How Time Tracking Helps You Get Paid

How Time Tracking Helps You Get Paid

You may be wondering how tracking your time can make your life easier, get you paid and not interrupt the amazing workflow you’re in. Oolyo allows you to get rid of that clunky excel timesheet template that you’ve been using for an easy to use and powerful system.  You can add your clients, projects and hours in a fast an easy manner. (even typing excel timesheet template took up more time than using Oolyo). Here’s why you should make the switch.

Easy reporting

We’ll help you sort out your tasks that are to be billed to a client. All you have to do is run the report and bill. Oolyo’s input feature allows you to add notes and tags to the task. So, forget trying to remember what happened to all your hours at the end of the day, week or pay period!

These tasks are archived and then you can retrieve them when creating reports weekly, monthly, or during a customized time period. No more crazy excel timesheets, just fast clean reporting from your friendly time tracker, Oolyo.

Lightning Fast Time

We don’t want to get in the way of all that amazing work that you’re doing so we’ve made it dead simple for you to add your hours. You can add them as a number or even enter them as a time, we’ll do the converting for you. Let us get out of the way of your work so you can bill more hours.

Mobile ready

OOLYO comes with an Android version and an iOS Apple version to increase productivity and make it easier to track your time. Free for all users.

Not quite convinced? Not to worry … just sign up for our Free Trial and let the hours add up.

Love,

The OOLYO Team

Welcome to the Oolyo Team

Welcome to the Oolyo Team

Welcome to the new Oolyo time tracker and timesheet killer. This is our new blog devoted entirely to the amazing software that is Oolyo. We’ll be updating you lovely folks with announcements on new features and upgrades right here, so come back often …. or even better yet, subscribe! Feel free to leave comment and let us know how we’re doing and what you’d like to see integrated.

Love,

The OOYO Team