This timesheet calculator monitors worked daily hours, overtime and determines the pay check for this time in weekly or monthly frequency. Discover an example result and read more about this subject below the form.
How does this timesheet calculator work?
This is a useful tool that computes daily hours worked, overtime and finally the pay check for those hours. It requires you to input the start working hour as well as the end working hour, the lunch/break time, the legal working weekly limit and overtime rule, the hourly pay rate and the overtime pay rate options. When the data is filled in the form, the timesheet calculator does the math and generates instantly the time sheet and the pay check for the time worked
In order to return the paycheck and the timesheet table, this calculator is based on the following data:
- The Hourly pay rate meaning the pay rate for a normal working hour;
- The Overtime pay rate if applicable, meaning the pay rate for an overtime working hour;
- The Overtime pay rate option having 3 options:
a) overtime after 8 hours per day, meaning that each day after 8 normal working hours the tool will count the rest of the hours as overtime working hours.
b) overtime after 40 hours per week, so that each week after the first 40 normal working days registered (no matter how they are distributed within working days) the form will count them as overtime working hours, instead of normal working hours.
c) No overtime if applicable therefore that the calculator will count all the working hours as normal hours with no overtime.
For the results presenting the timesheet:
- the Start time meaning the start hour and minute of the working day;
- the End time showing the end hour and minute;
Lunch/breaks time computing all breaks.
The timesheet calculator makes the difference for each day between the start time hour and the end time hour, then if applicable subtracts the number or hours/minutes of lunch or any break time, then based on the overtime pay rate options calculates the regular hours and overtime hours worked per each day. Further on it multiplies the normal hours worked with the corresponding hourly pay rate, and the overtime hours worked with the corresponding overtime pay rate.
This is a quick and easy time card calculator for both payroll administrators and employees because it allows both to have an evidence on total hours within a week or month along with normal, overtime hours, normal, overtime and total pay.
What is the most used overtime pay rate?
Most employers pay each overtime hour with 1.5 of the regular hourly rate. Please note this is one of the most used pay rate, but depends from one case to another on many factors such as: legislation within the state the company is based, the financial possibilities the company has, the productivity the employees have within overtime hours.
Let’s take for instance a case where the hourly pay rate is set at 6.34 currency, while the overtime pat rate is set at 7.15 and the limit is after 40 hours per week. The following table shows the information that has been entered in the input forms of the calculator.
|Day||Starting time||Ending time||Lunch/ Breaks|
|1||9:00 am||6:05 pm||40 min|
|2||9:10 am||7:45 pm||54 min|
|3||9:00 am||7:25 pm||32 min|
|4||9:00 am||5:30 pm||45 min|
|5||9:15 am||6:50 pm||50 min|
|6||11:00 am||3:35 pm||-|
The result is: