. Pay Period (number per year):

Weekly (52)Bi-weekly (26)Semi-monthly (24)Monthly (12)

B. Number of Employees:

employees

C. Hourly Wage of Payroll Staff:

$ / hour

D. Hourly Employees' Average Wage:

$ / hour

E. Number of Hours in Work Week:

hours

F. Number of Work Weeks per Year:

work weeks

G. Minutes Spent Calculating 1 Time Card:

minutes

H. Time Theft per Employee per Day:

minutes

I. Margin of Error:

%

The American Payroll Association (APA) estimates that about 2½ minutes is spent manually adding each employee's time card.

J. Time Saved per Year (A x B x G / 60):

hours

K. Annual Savings (J x C):

$

When totaling employee hours manually with a calculator, human errors are bound to occur and go unnoticed. The APA estimates that manual payroll has an error rate of at least 1%.

L. Annual Gross Payroll (B x D x E x F):

$

M. Annual Savings (L x I):

$

Tardy arrivals, early departures, long breaks and lunches are all examples of employee time theft that can be eliminated by an automated Time & Attendance system. The APA estimates as much as 5 minutes per day are lost due to these factors.

N. Time Saved per Year (B x F x 5 x H / 60):

hours

O. Annual Savings (D x N):

$

Add up the savings from manual calculations that are no longer necessary, reduction of errors and the elimination of time theft, and you'll see that a Jantek Time & Attendance system will pay for itself in less than a year.

P. Total Annual Savings (K + M + O):

$

To be conservative, this study is based upon saving approximately 1.5% of your gross payroll, however the APA estimates that most companies will save closer to 5% of gross payroll costs.