Time stamp software is essentially the virtual equivalent of a physical time clock.
Problems the product can solve
Employers can utilize this type of software to not only track the activities of their employees, including regular hours worked, breaks taken and even overtime. This type of tracking not only helps with proper payment of the employees for their time earned, but can be used in billing clients or setting prices to offset the costs of employees. Freelancers can also use type of software for tracking billable hours. Tracking these hours not only benefits the freelancer, but also the client. Both the freelancer and the client can track hours worked and can easily plan monetary incoming or outgoing progress.
Product Features
The most evident features of Time Stamp software are the tracking of hours worked for the users. Additionally this software can account for the accrual of breaks, vacations, sick days and personal days. The software can generate reports that fit the employer’s or freelancer’s needs, specifically payroll reports, attendance reports and year end reports.
| The Good | Rating  |
According to reviewers and testimonials, the most important feature of this software, particularly for employers, is the amount of time it saves when billing or generating payroll. All reviewers stated that the software is also very easy to use for both employers and employees.
| The Bad | Rating  |
Freelancers may not get the most use out this type of software because they are only one person logging hours. Additionally, if a freelancer has a client who relies on time stamp software reports for billing and the freelancer forgets to log all hours, they may have to forego some portion of their payment.
Not all time stamp software has the same features. Some of the programs offer far more than others, and it is important that employers or freelancers review the products before purchase. For example, some products are not as easy to use which can result in an employee entering improper information and even foregoing paid time. The software has to be set up on a designate PC for proper tracking. Should the PC encounter problems on a particular day, the employer may not be able to properly track time worked and payroll may be off. Some versions of this software do not generate extensive reports that would work with existing bookkeeping software.
| The Bottom Line | Rating  |
While most of the users who reviewed the software were employers expressing a need to help manage employees, freelancers can also use the software for the same purposes. Users intending to purchase time stamp software should identify the features they require and then make sure the version of the software offers these features. Because there is a variety, searching for and purchasing this software may seem confusing without the proper research. All reviewers did recommend this type of software particularly to employers who need help managing their hourly wage payroll.
