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Number's don't lie. Use this Time Clock Calculator to your full advantage.

Why You Need To Use The MinuteHound Time Clock Calculator

As a business manager you oversee employees. Regardless of the service offered or product produced, employees are the lifeblood of any organization. This means employees can make or break you. Labor management of small or large business is in many ways the same; employees must be accurately compensated for time worked. What can differ is how your business tracks time. You currently have some sort of system in place; whether it be time cards, sheets, badges, or ID and passwords. Unfortunately, all of the aforementioned systems have flaws, i.e their inefficiencies cost the business money. That is a fact. By using MinuteHound's time clock calculator, you will know how much money you could be saving.

The time clock calculator simply asks for the number of employees, their hourly rate, and the total payroll amount. The time clock calculator uses a default 26 pay periods per year, as this represents standard bi-weekly payroll. If you utilize a different system, please feel free to enter its terms for an accurate comparison. The time clock calculator will indicate where you are losing money, and describe why. Human error and time theft plague all businesses. Businesses both large and small make mistakes, and have dishonest employees. You are not alone! Payroll processing is also costly. Not only in wasted money, but also in terms of lost time.

Time Clock Calculator

Use the form below to calculate your company's potential savings by using MinuteHound™. Be prepared, the numbers are usually staggering. Think this isn't happening to you? Think again.
Total Payroll Amount Each Pay Period $
Number of Employees
Number of Pay Periods Per Year
Hourly Rate of Person Responsible for Processing Payroll $
See Formulas  
Total Amount of Payroll:

$114,833.33

Human Error

The American Payroll Association shows an error rate of between 1-8% of total payroll in companies that use traditional timecards. We will use a 3% error factor in our worksheet.

$31,200.00

Unintentional Employee Time Theft

According to the American Payroll Association, the average weekly "theft" of time (long lunches and breaks, tardiness, early departures, etc.) is 4 hours and 5 minutes per employee! We'll calculate based on recovering just 50% of that loss!

$52,000.00

Buddy Punching

According to the American Payroll Association, the average loss as a result of "Buddy Punching" is between 2-5% of total payroll in companies that use traditional timecards. We will use a 3% loss factor in our calculation.

$31,200.00

Payroll Processing

Savings per year on timecard calculating and reconciling.
The American Payroll Association reports that manual calculation of timecards takes approximately 5 minutes per card.

$433.33


Total Potential Savings
Per Year

$114,833.33

 

The Online Time Clock Calculator Is Free To Share And Link To

The time clock calculator is a great tool for all business owners to use. Please feel free to share and link to it. Now here is the best part of MinuteHound's time clock calculator; the solution! Yes, the time clock calculator will show you how much money could be saved. The problem is now apparent, however so is the solution. The solution starts with a fingerprint time clock that is the size of a coffee mug. The fingerprint reader transmits data to web based time clock software. By upgrading to MinuteHound, you can realize savings risk free and in various ways. It is green. Never worry about inventory or purchasing additional equipment. Save money on multiple fronts. The time clock calculator is a great tool for checking how you can cut costs, and increase profits.

The Time Clock Calculator Is Your Starting Point For Success

By now you have used the time clock calculator. You have seen with your own eyes how much money can be added to your bottom line profits. These numbers are real. The time clock calculator takes your information, and shows how to improve your profits. MinuteHound has worked hand-in-hand with all types of companies. There is no upfront investment. No contracts to sign. No fine print to stress about. The time clock calculator is your starting point for success. It is now up to you to make these numbers a reality. Visit the time clock price page for an instant anonymous quote. While you're there check out the 100% Money Back Guarantee.

Calculator Formulas

Human Error

(Total Annual Payroll) * (.03)

Unintentional Employee Time Theft

(Total Payroll) * (52 Weeks) * (4 Hours) * (.05 Recovering Half)
(2080 Hours in a year)

Buddy Punching

(Total Annual Payroll) * (.03)

Payroll Processing

(# Employees) * (# of Pay periods) * (Rate of payroll processor)
12