Are timesheets legally required to run a business? To answer this question simply, yes, timesheets are a legal requirement. Why are timesheets necessary, you ask? Timesheets track the amount of time an employee works or spends on a project. It’s important to track employee time so that an employer knows exactly how much to pay the employee come payday. Employers are required to keep accurate records of the number of hours an employee works as part of the recordkeeping requirements under federal law.
In this article, we will be covering the labor laws that apply to timesheets and records, the different rules for salaried and hourly employees, penalties for not keeping records, and more. As an employer, you must understand the importance of timesheets so that you can pay your employees accurately and run an efficient and successful business. Now, you may be wondering: Are timesheets a legal requirement? Get started by reading our guide from beginning to end, or use the links to get the answers to your most pressing questions.