The cost of a time and attendance system ranges from free to about $20 per person per month. Some cloud-based systems charge an additional monthly base fee; for example, QuickBooks Time charges $20 per month in addition to $8 per employee per month.
However, if you purchase a system that you host onsite, you may pay an upfront fee of $99 or more, but you won't have monthly fees. Instead, you'll pay a license fee for each computer and a setup fee to install and configure your timekeeping system. Setup fees range from $100 to $1,000 or even more, depending on the vendor.
These factors may affect your overall pricing for a timekeeping system:
- The number of employees (users) you have
- The number of administrators who use the system
- The number of locations where you collect time
- The range of features, such as scheduling in addition to timekeeping
- Implementation and setup fees
- Whether you want customized reports and interfaces
- Whether you need single sign-on or other add-ons
- Annual support fees (included in most online systems)
- Hardware, such as a computer or tablet to serve as your time clock
Most web-based time and attendance system providers and apps charge per user – each person, employee, manager or administrator who uses the software.
Small and midsize businesses often find cloud-based solutions best for time tracking because they contain built-in rules to calculate state-mandated overtime. They also help businesses comply with labor laws and regulations affecting time off, such as the Family and Medical Leave Act.
Some time and attendance system providers offer volume discounts, in which the per-employee costs go down with more employees. Other providers offer discounts for annual subscribers.
Another cost to consider is whether you wish to integrate the time and attendance system with a physical punch-style time clock. Time clocks range in price from several hundred dollars to several thousand dollars, depending on features such as facial recognition, thermal sensors and fingerprint scanners.
We have a final recommendation regarding price: With any time and attendance software or service you choose, start with the base package and then add on as your business needs change.
FYI: If you want to install your time clock app on a tablet, you'll need to consider the costs of any hardware you don't currently own.