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Punch clock The old-fashioned time clock system that requires punching in and out with a paper card is by no means high tech, but it is affordable and still available today. (Photo: Shutterstock)

Under the federal Fair Labor Standards Act (FLSA), all employers with sales of $500,000 a year or more are required to keep records of the time all their employees work. Failure to do so can result in significant penalties. Regulations aside, accurately tracking worker time and attendance is obviously in the best interests of your business.

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