3) Time Cards and Sheets

Yep, its old school, but there is one advantage to using time cards and time sheets: cost. Time cards cost a whole lot of nothing, especially is you make them yourself. Downsides abound however, they are easy to lie on, you have to add up all the hours manually, usually employees tend to round in their favor rather than give the exact time resulting in a few hours a month you are paying for but getting nothing out of. When starting a small business though, and you only have a few employees, this might just be the perfect solution for you, if you can keep your employees honest.