Calculate overtime based on workweeks, not pay periods.
Time agenda calculations for amount charge be accurate, as agent pay depends on the results. Correct adding of the absolute hours on a time agenda will advice ensure that your paycheck is authentic and your advisers accept the able pay for hours worked. Whether time cards are electronically stamped, or manually abounding out, the adding action is the same.
Convert any accepted hours on the time agenda to a 24-hour clock, or aggressive time. The easiest adjustment to catechumen the hours is to add 12 to the hours for all afternoon times. For example, a 3 p.m. punch-out would be 1500 in a 24-hour cycle.
Subtract the starting hour from the catastrophe hour to access the absolute hours formed for the day. For example, if you alpha your banal at 8 a.m. and end at 6 p.m., 18 – 8 equals a 10-hour day. Reduce the absolute by any contributed cafeteria or breach times. With an hour contributed for lunch, the assignment day equals nine hours.
Add all of the hours for the anniversary to access the absolute hours for account payroll. For example, two nine-hour days, eight hours and six hours in one anniversary equals 32 hours for the week.
Multiply the hours formed by the alternate amount to actuate gross pay. Account for overtime hours by adding by time and a half. A 32-hour anniversary at $12 per hour equals $384.
Calculate any overtime pay. Overtime is about paid at a amount of time and a half, or 1.5 times the alternate amount for hours formed above 40 every week. For 10 hours of overtime at a abject amount of $12, the overtime amount would according 12 x 1.5, or $18, for a absolute of $180 in overtime pay. If your accompaniment requires overtime pay for every hour formed above eight anniversary day, actuate the overtime hours on a circadian basis, artful time and a bisected on all hours over eight anniversary day.
Tara Kimball is a above accounting able with added than 10 years of acquaintance in accumulated accounts and baby business accounting. She has additionally formed in desktop abutment and arrangement management. Her accessories accept appeared in assorted online publications.
Kimball, Tara. “How to Calculate Time Agenda Hours to Payroll.” Baby Business – Chron.com, http://smallbusiness.chron.com/calculate-time-card-hours-payroll-30070.html. Accessed 27 October 2018.
Kimball, Tara. (n.d.). How to Calculate Time Agenda Hours to Payroll. Baby Business – Chron.com. Retrieved from http://smallbusiness.chron.com/calculate-time-card-hours-payroll-30070.html
Kimball, Tara. “How to Calculate Time Agenda Hours to Payroll” accessed October 27, 2018. http://smallbusiness.chron.com/calculate-time-card-hours-payroll-30070.html
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