calculating wages

[rooney2oons]

I am trying to create a spread sheet that will automatically tell m
what my check should be before all the taxes and stuff are taken out.
I have a cell that shows how many hours I worked in the week. I kno
how to calculate my hours times my wage. I need to figure in OT. An
ideas on this?
If not I will just do it the old fashioned way.

Joh

 

[Guest]

If total hours worked is in cell A1 and normal working week is 40 hours then
if OT is in Cell B1

=MAX(0,A1-40)

or

=IF(A1>40,A1-40,0)

If OT is paid at 1.5 times standard hourly rate, then OT pay

=B1*C1*1.5 where C1 is standard hourly rate

i.e =Max(0,A1-40)*C1*1.5

To make your s/sheet (more) flexible put the standard hours and overtime
rate/factor in cells rather than have them as constants in the formulae;
pPerhaps also have them as named ranges to make the formulae more readable.

e.g.

=MAX(0,A1-StdHours)*HourlyRate*OTRate

HTH

 

[Guest]

This is just an suggestion for layout purposes. I created a "calender" (if
you will) in excel. I get paid every 2 wks.

- Column A the number of week of the year (1-52).

- Column B is the date for the beginning of each week (not payperiod),
though if your payperiod starts on a Saturday, you can certainly list Sat as
the first day of the week. With both A and B, you can enter the first value,
either 1 (col A) or 1/1/2006 (col B), then create the appropriate formula for
the remaining values, ie for the date (if first date is in cell B1), B2 would
be +B1+7.

- Colums C1:I1 would be

-Column J holds the value of the actual payday.

- Column K calculates TOTAL HOURS (for it's row), ie you will have two rows
for a two week payperiod.

- Each subsequent column after K can calculate REG PAY, OT PAY, VACATION, etc.

I have a pretty extensive spreadsheet that not only calculates what I should
be making (gross), but also if I take vacation, ie no OT or less OT then
normal, it will tell me how much I lose. and also est annual salary based of
averages of past payperiods.

I use OFFICE XP. If you would like a copy, I can email it to you. May be
Monday before I can do that though.

Hope this helps.
Les

 

[Guest]

One more thing. If you did not figure it out. I enter the number of hours in
the spreadsheet for each day worked.

Les