The time conversion chart will standardize your time records, thus helping you make accurate payroll calculations and avoid all these unpleasant scenarios. On the other hand, if your employees get less than they should, you risk litigation and being slapped with hefty fines. Besides hurting your bottom line, such mistakes can cause unnecessary complications. These issues can result in overpaying your employees. This is particularly important if you use paper timesheets and manually record employee hours. If your company hires hourly workers, then timesheet conversion is necessary for recording their time and attendance accurately.īy implementing the decimal format, you can minimize the odds of inaccurate payroll time and payroll calculations. Why Is Time Conversion Chart Important for Payroll? We'll talk about this process in greater detail below. In this case, the timesheet conversion process involves an additional step.įirst, you have to convert military time to standard hours and then use the time conversion chart to convert it to the decimal format for payroll. Some organizations use military time or the 24-hour clock. Once you do the timesheet conversion for payroll, it's easy to multiply the decimal time with the pay rate and get an accurate compensation calculation. The time conversion chart is used to convert hours and minutes from the standard to decimal format. In other words, you can't simply multiply the $20 pay rate by 20 hours and 17 minutes to get the exact amount the employee from our example earned. To determine the payable amount for that particular employee, the manager can't use the traditional format.Ī pay rate is expressed in hours, not minutes - an employee's wage is, for example, $20 per hour. That's not a perfect, round hour but a fraction of it. Calculating payroll goes smoothly until you run into an employee who, for example, worked 20 hours and 17 minutes. You've decided to track your employees' time, and it's the end of the month. This article will discuss why timesheet conversion is essential, how to convert hours and minutes into decimals, and which tools to use. This is where the time conversion chart comes in. As a result, they might fail to pay their employees accurately and correctly. But this standard format has to be converted into decimal time for payroll purposes.Īnd that is where things get tricky since many business owners aren't sure how this procedure works. When tracking time, companies use hours and minutes. Tracking and managing employee time is essential for boosting productivity, improving accountability, and ensuring they're fairly compensated. They are identifiable with a special user flair.Ī community since MaAsking a question? Describe if you are using Excel (include version and operating system!), Google Sheets, or another spreadsheet application.Do You Know How to Use The Time Conversion Chart? Occasionally Microsoft developers will post or comment. Recent ClippyPoint Milestones !Ĭongratulations and thank you to these contributors Date Include a screenshot, use the tableit website, or use the ExcelToReddit converter (courtesy of u/tirlibibi17) to present your data. NOTE: For VBA, you can select code in your VBA window, press Tab, then copy and paste that into your post or comment. To keep Reddit from mangling your formulas and other code, display it using inline-code or put it in a code-block This will award the user a ClippyPoint and change the post's flair to solved. OPs can (and should) reply to any solutions with: Solution Verified Only text posts are accepted you can have images in Text posts.Use the appropriate flair for non-questions.Post titles must be specific to your problem.
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