SOP Finance and Accounting – Time Clock Reports

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SOP For Time Clock Reports

Purpose of Time Clock Reports :

Time clocks play a crucial role in tracking employee attendance and work hours. As a result, the finance and accounting department has a responsibility to ensure that time clock reports are accurate and up-to-date. By doing so, they can help to prevent issues such as payroll errors, overtime pay discrepancies, and even potential legal issues.

One of the primary tasks of the finance and accounting team is to review and verify time clock reports. This involves checking the accuracy of the data entered into the system, as well as ensuring that all required fields have been completed correctly. Additionally, they may need to reconcile any discrepancies with employee timesheets or other relevant documentation.

In order to streamline this process, many companies rely on specialized software or tools to manage time clock reports. This can help to automate certain tasks, such as generating reports or alerting managers to potential issues. By leveraging these tools effectively, the finance and accounting team can save time and improve the accuracy of their work.

Overall, time clock reports are a critical part of ensuring that employees are compensated fairly and accurately for their work. By maintaining accurate records and proactively addressing any issues, the finance and accounting department can help to keep the business running smoothly and avoid potential problems down the line.

The following Reports are the minimum that must be run to monitor and control payroll. It is the responsibility of the General Manager and Controller to establish compliance with these minimum standards.

Time Clock Reports SOP Procedures:

1. DAILY Attention Report

This Report should be run every day before any other Reports. It will list all missed punches and other errors. It should be reviewed and resolved by the Human Resource Administrator. Once these items have been cleared, the remaining Reports should be run.

2. Time & Attendance.

This should be Printed on this Report by the department with the schedule. reviewed by each department manager.

3. Employee Labor Schedule

This Report should be run by the department and reviewed by department heads, the General Manager, and the Controller. It will show the differences between actual hours worked to scheduled hours worked.

4. Daily Clock-In and Out

This should include daily sales figures. It should be reviewed by the General Manager and Controller to monitor sales percentages and tips.


Approaching OT

This Report should be given to each department head and General Manager. It will show actual hours worked plus hours scheduled to determine who will be in an overtime situation. At this time scheduling changes can be made.


Employee Labor Schedule

After schedules are input, this should be reviewed by department heads and posted.

Weekly Work Summary

Reviewed and signed off by department managers. This will be what is paid to the employee. Vacation. Sick, Holiday, and Tips should be completed at this time.

The time clocks offer many more Reports that are valuable to each property. The above-listed Reports are minimum requirements only. Each property should use the additional Reports that prove to be useful tools for their needs.

Training Summary Questions:

Q1. What all included in the daily time clock report?

Q2. What are the differences between actual hours worked to scheduled hours worked?

Q3.What is approaching OT shows?

Q4. Who reviewed and signed the weekly work summary?

SOP Number: Finance and Accounting SOP – 21
Department: Payroll
Date Issued: 8-Aug-2021
Time to Train: 25 Minutes
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