As an F&B leader, keeping track of your employees’ work hours and managing payroll can be a real headache. Restaurant owners need payroll software integrated with time tracking functionalities to efficiently manage their staff’s wages and ensure accurate compensation for hours worked.
In a restaurant where shifts can vary and employees often work irregular hours, manual tracking becomes difficult and prone to errors. By utilizing payroll software with time tracking, restaurant owners can streamline their payroll processes, automate calculations, and make work time more effective.
Additionally, an integration like this can provide insights into labor costs, allowing owners to optimize scheduling, minimize overtime expenses, and ultimately enhance profitability. With real-time tracking of employee hours, restaurant owners gain greater control over their payroll operations, enabling them to focus more on delivering exceptional dining experiences to their customers.
List of Payroll Softwares with Time Tracking Feature
Below is the list of payroll software options that make managing employee payments and tracking hours easy. These tools are perfect for different businesses, including ones with shift work like restaurants.
*Disclaimer: other than PayrollAny, the price is solely calculated based on payroll + time tracking features.
PayrollAny by StaffAny
PayrollAny is designed specifically for the F&B industry, offering a specialized shift work system to meet the unique needs of F&B businesses. What sets PayrollAny apart is, beyond the robust payroll specific features, it has a powerful native integration with scheduling and timesheet software, creating unmatched flexibility.
Priced at SG$6 (for PayrollAny feature only) per user in bundles of 10, with no limit on the roster, it provides exceptional value for money. PayrollAny offers a straightforward and transparent pricing model, making it an ideal choice for F&B establishments looking to streamline their operations and minimize costs.
Payboy
Payboy offers payroll solutions with integrated time tracking features. Starting at SG$7.63* per month, the plan includes payroll processing for 1 person along with essential time tracking functionalities.
QuickHR
QuickHR also offers payroll solutions with integrated time tracking features tailored to the needs of businesses in Singapore. With plans starting at SG$10* per person per month, businesses can efficiently manage payroll and track employee work hours.
Also Read: 7 Payroll System Companies for F&B Solution in Singapore
Labor Cost Calculation: Another Reason Why You Need a Payroll System With Time Tracking
Labor cost calculation refers to the process of determining the total cost incurred by a business for employing its workforce. Labor cost calculations and payroll are basically joined at the hip.
Payroll encompasses the actual payments made to employees for their work, including wages, salaries, bonuses, and any other compensation. Thus accurate time tracking is crucial for calculating payroll effectively to pay wages fairly, without overpaying and incurring unnecessary cost on the business OR underpaying and creating dissatisfaction among employees. PayrollAny understands this and is built directly on a time and attendance tracking module to ensure accurate calculations.
So how can PayrollAny help you to get an accurate labor cost calculation?
F&B businesses usually employ a combination of full-time or part-time staff. For full-timers, the calculation involves estimating the cost of basic labor hours and overtime hours.
Basic hours are calculated based on the monthly wage divided by the number of weeks in a year and the weekly overtime hour limit. Overtime hours are multiplied by the overtime rate to determine the additional cost. It’s important to note that this calculation doesn’t include statutory payments like FWL or CPF.
For example, if a full-time employee is scheduled for 7 hours of work in a week, the estimated cost is based on the hourly rate derived from their monthly wage. If the employee is scheduled for overtime, the cost increases accordingly.
For part-timers, the labor cost calculation involves summing up the cost of different types of labor hours—basic, weekend, and event hours—multiplied by their respective rates. Overtime costs are also calculated if daily/weekly overtime limits and rates are set up.
Payroll with Time Tracking Can Fix Timesheet Discrepancies Too
Timesheet discrepancies refer to inconsistencies or errors found within employee timesheets. These can include missing clock-in or clock-out times, unapproved leave requests, unscheduled clock-ins, and discrepancies between actual hours worked and scheduled hours. Since this is such a crucial issue, here is how PayrollAny prevents it using a combination of time tracking feature that you can get separately from StaffAny.
Identifying Outstanding Time Tracking Issues
Employee timesheet issues discrepancies include missing clock outs, pending leave requests, unscheduled clock-ins, and pending work more approvals.
See the screenshot below for the highlighter issue in the system:
Resolving Outstanding Issues
To resolve these discrepancies, specific actions must be taken. For instance, missing clock outs necessitate manually inputting the clock out time to ensure accurate recording of hours worked. Pending leave requests need approval or rejection to reflect accurately in the timesheet. Similarly, unscheduled clock-ins and pending work more approvals require managerial intervention to ensure proper alignment with scheduled shifts and prevent unnecessary overtime.
In addition, managers/business owners can also do the following things so that discrepancies can be avoided long before starting the payroll process.
- Checking for Absences
Beyond addressing specific discrepancies, we encourage managers/business owners to monitor staff absences diligently. On the web app, absences are reflected in the timesheet under the “Abst” tag, signaling instances where employees were absent for scheduled shifts. Managers can investigate further to determine reasons for absences, such as unrecorded medical leave or annual leave.
- Understanding Differences
Differences between actual working hours and scheduled hours are another aspect of timesheet discrepancies. If employees work more or fewer hours than scheduled, these variations are reflected in the timesheet. Positive values indicate extra hours worked, while negative values denote missing hours. Regular review of these differences allows managers to ensure accurate payroll calculations and address any discrepancies promptly.
Conclusion
So after reading the information above, how can payroll software with a time tracking feature save you money? By automating time tracking processes, this software not only saves you money but also frees up valuable time for you and your team.
With accurate and reliable time tracking, you can bid farewell to the headaches of manual data entry and the worry of compliance errors. Instead, you gain the confidence of knowing that your payroll is accurate, your employees are fairly compensated, and your business is running smoothly.
So, take the leap and let time tracking software be your trusted ally in payroll management—it’s a decision your bottom line will thank you for.
