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The Excel Formula for Wages & Overtime

Small Business | Accounting & Bookkeeping | Excel

By Carter McBride

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Using Microsoft Excel, you can track your employee's wages using a 1 Excel for OS X
formula. The most important formulas involve total hours worked,
regular time hours worked, overtime hours worked and overtime pay. 2 How to Calculate Variance in OpenO ce
You need to set each formula up in separate cells and for each different
employee. 3 How to Do a T-Test on Excel for the Mac

Setting Up Variables How Do I Recalculate a Workbook in

4 Excel?
Create spaces for your variables. Use one cell to define your variable
and another cell to put the variable. For example, use cells:

A1 for "Starting Time" RELATED

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B1 for "Ending Time"
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C1 for "Total Hours Worked"
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D1 for "Regular Hours in a Day"
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E1 for "Regular Hours Worked" How to Make a Regression Table in Excel

F1 for "Overtime Hours Worked"

G1 for "Base Pay Rate"

H1 for "Overtime Pay Rate"

I1 for "Regular Wages Earned"

J1 for "Overtime Wages Earned"

Use row 2 to input the variables under these headings. Cells A2, B2, D2, G2 and H2 are where you put variables that you
know. The other cells require the formulas stated below.

Total Hours Worked Formula

If you input the starting time of an employee and the ending time of an employee, you can calculate total hours worked.
Excel allows you to use time values in your cells. To find total hours worked, with the example, use formula "=B2-A2". Enter
this amount in cell C2 under "Total Hours Worked."

Regular Hours Worked

In another empty cell calculate regular hours worked. This requires a conditional formula. These formulas define a
condition and then say what to display if the condition is true and what to say if the condition is false. The formula from
the example is "=IF(C2>D2,D2,D2-C2)". Enter this amount in cell E2 under "Regular Hours Worked."

Overtime Hours Worked

For Overtime Hours Worked, use another conditional formula. From the example, the formula is "=IF(C2>D2,C2-D2,0)".
Enter this amount in cell F2 under "Overtime Hours Worked."

Regular Pay and Overtime Pay

To use this formula, set up cells defining hourly regular pay and hourly overtime pay. For regular pay, use formula "=D2G2"
in cell I2 for "Regular Wages Earned." For overtime pay, use formula "=F2H1" in cell J2 for "Overtime Wages Earned."

REFERENCES WRITER BIO

How to Add Paragraph Breaks in Cells in Excel for

OS X
By Laurel Storm

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Because Excel's primary purpose is to display, organize and calculate
numerical data such as your business' profits or expenses, the "Enter"
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key confirms a cell's contents and moves to the next rather than
inserting a line break. If your spreadsheet's layout requires it, however,
you can add line or paragraph breaks to cells through a keyboard 3 How to Insert a Caret in Excel
shortcut. Adding line breaks can help make the labels for your data
more readable and can even be used to create a dual-label cell. 4 How to Get Rid of Unneeded Cells in Excel

1
Double-click the cell to which you want to add the line or paragraph
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Place the text cursor in the location where you want to add the line or How to Add Shading in PowerPoint 2003

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3
Hold down the "Control" and "Option" keys. Press "Enter" once for a line break or twice for a paragraph break.

REFERENCES WARNINGS WRITER BIO

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