If you are planning to look for ways to enhance the performance and productivity of your team, Time Tracking can be the perfect place to start. In an ever-changing and competitive business environment, Time can mean money. Among the various metrics that can be used to describe the productivity of your team and thereby the success of your business, Time is one of the key factors.

But in reality, Tracking Time and Attendance is a chore that most employees find it annoying to do.

Some tips and tricks to make your staff use their Time Tracker

Make it easier

Introduce Tools, and Business Apps like Time Tracking App, Time Keeping App, and Task Management App that is easier to learn, use, and follow. This step well taken, will solve half the problem. Set clear guidelines to follow, so that there is no confusion in tracking time accurately and under the right task/ project or labels.

Communicate and Monitor

Communicate with your team in an open manner, as to why it is important to track time, and how it will affect the overall productivity, earnings and success of the business. Good time tracking helps in understanding the status of a project, whether the project is on track to meet the deadlines, to predict the future resource and need requirements, and to allocate resources efficiently. It also helps to bill and raise Invoice accurately.

Once your staff understands the importance of Team Works Tracking and Time and Attendance Tracking, they are most likely to follow and use their Time Tracker.

Be open to feedback and Improvising

Be open to listen and understand what your team feels about the Time Tracking system, and what else can be done to make it better. More importantly, being a Team leader, you should lead from the front as an example, by accurately logging and filling your Timesheets.

Award and Reward

Keep your team members interest and keenness to record Time high, by introducing simple prizes and awards, that will reinforce their behaviour. For, e.g., the whole team gets to do a TGIF party only if everyone has finished filling in their Time Sheets and Trackers. This will ensure that not only your team members will individually follow Time tracking, they will also ensure that everyone in the team does, so as to have a relaxing time.

Looking for the best App tools for your team?

Check out Moon Invoice, the best Invoicing Tool for businessmen on the go. Moon Invoice App is not just an Invoicing tool but is also an impressive Business App that has some fantastic features like Time Tracking App, Payment Tracking, Team Works Tracking, Task Management App and Time Tracking App.

With the Moon Invoice App, your team will be able to streamline your projects or tasks and generate Invoices using the In-Built Timesheet. They can user the Timer feature to capture Time Logs, which runs even if the App is closed.

Download Moon Invoice today, to experience a world of benefits and to run your business smoothly and efficiently.

Recurring Payments Vs Recurring Invoices

Recurring Payments	Recurring Invoices
Recurring payments charge the customer’s credit card account or debit card account on a predetermined schedule for the same amount as preapproved.	Send an invoice to your customer on a regular basis. The client receives the invoice but, money is not paid unless the customer approves.
A business that takes prepayment of money and sells a monthly subscription service and product. Subscription services are excellent examples of this.	A company that provides fixed services with billable hours is an excellent choice for recurring billing. For example law firms and consulting agencies.

Pros and Cons of Recurring Invoices

Pros	Cons
You eliminate the possibility of human error by automating the billing process. If you use a recurring invoice, you will not be concerned about forgetting to charge your customers for the things they ordered.	You must exercise caution while recurring billing to prevent issuing inaccurate pricing. This also holds for price changes that could take place right once an invoice is created.
If you provide your customers with the option for recurring billing, they are more likely to buy products regularly.	It could be difficult to cope with recurring invoices if a transaction fails for any reason.

Net 45	Invoice is due in full within 45 days with no early payment discount offered
2/10 net 45 terms	2% discount if you pay within 10 days; otherwise full payment of the invoice is due in 45 days
1/15 net 45 terms	1% discount if you pay within 15 days; otherwise full payment of the invoice is due in 45 days
1/10 net 45 terms	1% discount if you pay within 10 days; otherwise full payment of the invoice is due in 45 days
1/7 net 45 terms	1% discount if you pay within 7 days; otherwise full payment of the invoice is due in 45 days

Category	Net Method vs. Gross Method	Explanation
Calculation Approach	- Applies tax credits first; reduces taxable income before computing tax liability.	- Doesn't apply tax credits; computes taxable income without considering tax credits.
Tax Credit Eligibility	- Allows for greater likelihood of tax credit eligibility due to reduced taxable income.	- Limits tax credit eligibility because taxable income hasn't been reduced yet.
Itemized Deduction Requirement	- Lowers threshold requirement for itemizing deductions due to decreased taxable income.	- Raises threshold requirement for itemizing deductions due to higher taxable income.
Advantages	- Leads to lower taxable income and increases chances of meeting qualifications for other tax benefits.	- Results in higher taxable income compared to net method.
Disadvantages	- May miss opportunity to reduce tax burden if taxpayer doesn't itemize deductions or take advantage of tax credits.	- Increases taxable income and may result in higher overall tax bill.