Many workers work on hourly basis. Those workers are paid according to their rate per hour. The use of hourly paycheck calculator simplifies and accelerates the calculation.
What is hourly paycheck calculator?
An hourly paycheck calculator is an Excel spreadsheet that is used to calculate the hourly salary of the employee. Many organizations pay the employees on the hourly basis. These employees are mostly those which are not permanent.
Because of its usefulness, the hourly paycheck calculator is one of the most demanded calculation software that is being used in businesses these days. People are usually confused when it comes to calculating the hourly pay and the payment of overtime hours of the employees keeping the time in and time out in consideration.
Benefits of hourly paycheck calculator:
- This calculator is very dynamic that enables the user to calculate everything related to paycheck no matter how complicated it gets.
- As soon as the time in and time out details are given in the calculator, it calculates the payment of all the extra hours given by the employee to the company.
- The process of calculation becomes faster and smoother and the accuracy of the calculation is also 100 %.
Key elements of paycheck calculator:
The main details that are added to this calculator are:
- The date of signing the check
- Per hour rates of the employee
- Gross pay of the employee
- Type of payment
- Frequency of pay
- Additional withholdings
- Details of anything which the employee is exempted from
- Mention the deductions from the pay
After filling all the required fields, click on the calculate button and it will calculate the required output. The template for hourly paycheck calculator can be downloaded easily from the internet. This template is available in MS Excel format.
There are many built-in formulas in the template. These formulas make it easier for the user to calculate everything related to hourly pay. The user can also save the results and can view them anytime whenever he wants.
Hourly Paycheck Calculator
Format: Microsoft Excel 2007-2013
File Size: 23 KB