Time * Rate = Amount Billed Formula?

[Guest]

I need to multiply the time recorded (in hours:minutes) by the charging rate
(in currency) to get the total amount billed as follows:

Time Billed Charge Out Rate Amount Billed

01:00 £285
02:30 £285

Please can someone tell me what formula to use, how to do this?

Thanks. Andy

 

[Pete_UK]

If your charge-out rate is £ per hour, you will need to multiply by 24
to get the correct amount, as time is stored internally as a fraction
of a 24-hour day. So, your formula in C2 would be:

=A2 * B2 * 24

formatted as currency, assuming these are the only columns in your
worksheet.

Hope this helps.

Pete

 

[Guest]

Thanks Pete, that worked a treat. You're a star!

Best, Andy

 

[SteveG]

Andy,

Convert the time to decimal format and then multiply by the rate.


=(A1*24)*B1 = Amount Billed

HTH

Steve

 

[Pete_UK]

Thanks for the feedback, Andy.

Pete

Thanks Pete, that worked a treat. You're a star!

Best, Andy

 

[Guest]

Thanks SteveG