Efficient time tracking is a benefit for all organisations, but many still have separate manual processes for time tracking, payroll and accounting. Integrating your time tracking system with payroll and accounting systems can bring significant benefits in terms of efficiency and greater accuracy in payroll and resources used, for example in project work. Here we look at the benefits of an integrated solution.
Automated data flow: Less administration and fewer errors
One of the biggest benefits of connecting time tracking systems with payroll and accounting systems is the automation of data flow. When employee hours are automatically transferred from time tracking to the payroll system, it removes the need for manual data entry. This reduces the risk of human error and incorrect payroll calculations or misunderstandings about working hours. I Report on Denmark's Digital Growth For example, it supports that companies that utilise new digital technologies to automate parts of their work will experience increased productivity.
Accurate payroll payments
Having a direct link between time tracking and the payroll system ensures that wages are calculated based on accurate data - for absence, overtime, time off in lieu, expenses and hours worked. This is especially important for companies that work with fluctuating working hours, overtime or freelance workers. With automatic transfer of the reported data, you can be sure that employees receive the pay they are entitled to - without delays, misunderstandings or errors.
Here you can see a Overview of the payroll systems, that Intempus integrates to.
Effective reporting and compliance
When the time tracking system is integrated with an accounting system, you get a clear picture of how time and resources are spent across departments and projects in the organisation. Connected administration makes it easier to generate accurate reports that can be used for budgeting, resource planning and strategic decisions.
At the same time, an integrated solution helps you comply with both time tracking and bookkeeping legislation. The site The new law on working time registration came into force in July 2024, all Danish companies have been required to document employees' working hours and ensure that wages and working hours comply with health and safety legislation. Similarly, since January 2023 - according to The new Bookkeeping Act - has been mandatory for all Danish companies to have a digital bookkeeping system where you can store your accounting material and make regular backups that you can show when needed.
An integrated and digital solution for both time tracking and bookkeeping ensures compliance, as all data can be easily accessed and documented at all times.
Cost savings and increased efficiency
By automating processes and minimising duplication, the company saves both time and money. This is supported by, among other things, a Report from the Ministry of Industry, Business and Financial Affairs, which emphasises that investments in software systems such as enterprise resource planning (ERP) and supply chain management (SCM) systems can lead to new automated workflows in accounting and administration that provide cost savings for businesses. Resources previously spent on manual data entry, error correction and coordination between departments can be channelled into strategic growth and development.
Intempus is part of Visma, home to some of the Nordic region's leading payroll, accounting and ERP houses. By choosing administration systems from Visma, you ensure that you get secure and efficient administration that fulfils all legal requirements.
Are you interested in hearing more? Contact us for a no-obligation chat about your opportunities on mobile +45 26390400 Or design your own solution to see which package suits your needs:
Sources: Report on Denmark's digital growth, Report from the Ministry of Business and Industry.
