Hi,
Ketul is correct. You can go with the SAP default (simple configuration) as per him.
If you have any access control/access restriction for particular group of employees among the punching terminals, then you can go into deep on this, else follow 001.
To upload time events, you can use RPTEUP10 - which is the standard ABAP program, which will need punches as a input text file in P10/P20 format. If your company requires any custom ABAP program, they can go for that also, depends on the custom requirement.
Config. depends on your site requirements.
regards,
Bala.