All you need to do is enter the information in RED, and Excel will calculate the hours and pay. 13) Step 13: Create Formula to calculate Regular Gross Pay, with ROUND Function 14) Step 14: Create Formula to calculate Overtime Gross Pay, with ROUND Function For Overtime Pay, we must multiple the Employee’s Wage times the Over Time Rate of 1.5, which means for overtime the employee gets 1.50 for every 1 of Normal Pay. Enjoy our Freeware Timesheets - all with excel formulas that can be customized according to your needs. I am very new to Excel and need help creating a formula that will allow us to calculate this timesheet? I am in desperate need for help. All monthly excel timesheet templates are printable and ready to use. WEEK 1 Sunday Monday Tuesday Wednesday Thursday Friday SaturdayĮXPLANATION OF *HOLIDAY WORKED HRS OR *OTHER
Excel payroll formulas for overtime how to#
Currently, the template we are using looks like this (sorry, I could not figure out how to paste it so you can see it in Excel layout): Set up the following spreadsheet in Excel and add formulas to calculate Overtime Hours, Regular Pay, Overtime Pay, and Total Gross Pay for each employee in. Pay is biweekly and overtime is anything over 40 hours. Gross Pay (Hourly Wage times Regular Hours) + (Hourly Wage times the Overtime Factor times Overtime Hours).
Excel payroll formulas for overtime free#
Basics payroll 2013 is a free excel workbook that simplifies the payroll. The formula in this cell needs to calculate the Gross Pay, the paycheck amount before taxes are taken out. Use our excel payroll calculator to calculate pay for a pay period. A dynamic excel template for calculating employee working hours and overtime. Each gets 30 minutes for breaks which is not paid. Excel Payroll Formulas Includes Free Excel Payroll Template. They work on shifts and the operation is 24 hours. Over 7 minutes to 15 minutes = 1/4 hour 15 Please contact me if you think this spreadsheet is missing something important.We have a client who will pay using the 1/4, 1/2/ and 3/4 of an hour increments as follows:įrom the hour mark to 6 minutes = 0 time paid If you want to record payroll payments broken down into regular pay, overtime pay, and reimbursements, you can unhide Columns R-T and then make the Gross Pay column a formula. To calculate overtime and pay associated with overtime, you can use the formulas. In the Payroll Register worksheet, columns E-K (Daily Hours Worked) are hidden by default, because if you are keeping a record of employee timesheets elsewhere, you may not want to duplicate that information in the register. Excel formula: Timesheet overtime calculation formula. "No installation, no macros - just a simple spreadsheet" - by Jon Wittwer Using the Payroll Register Recording Daily Hours Worked There may be specific record-keeping requirements that apply to you, so check with your accountant to make sure that you are keeping appropriate records. The Payroll Register worksheet is where you can keep track of the summary of hours worked, payment dates, federal and state tax withholdings, FICA taxes, and other deductions.ĭepending on how you are keeping your records, you may want to add information to the payroll register, or remove it. The Employee Payroll Information worksheet is where you would record information like name, ID, address, sex, occupation, hire date, salary or wage basis, exempt status, federal allowances, and other information about current deduction and contribution elections. I've kept this spreadsheet fairly basic, so depending on your business and policies, you may find that you need to add more columns. Excel formula: Timesheet overtime calculation formula, Formula. This Employee Payroll Register spreadsheet was designed for small businesses that choose to use an accountant or online payroll service (like or ). The picture shows how you can set up a worksheet to calculate weekly salaries for your employees, considering hourly wages and overtime hours.