Using Google Sheets / Microsoft Excel
This post is about creating a Payroll worksheet. You can create a functional payroll worksheet using Google Sheets or Microsoft Excel. You can keep track of one or more employees, with different rates and deductions.
In the image, I show you an example with some data for purposes of this post. First, include a title, your company name, and the year this worksheet applies.
The second section, defines employment data and deductions. I included 40 hours weekly as the basic regular hours with the hourly rate. The overtime rate, if you do not pay a different overtime rate, then you can include the same regular rate, for calculation purposes. The deductions included are FICA with a fixed 7.65%, and five other deductions. Please note that Health Insurance calculation does not include a percentage, instead a fixed amount, that is divided between pay periods (4).
The third section, represent the payroll itself. It calculates the gross pay with regular and overtime rates. In addition, it applies percentages and amounts to the weekly gross pay. At the end, you get the net pay. Each table represent a month; thus, each tab will maintain data for one employee, for twelve months and a summary.
For each employee, there is a detailed monthly period, and a summary of all months. The image show a summary format of the information previously entered.
Formulas Used
The tables have simple formulas made of basic math operators. Numbers were format with dollar signs, percentages and two decimal values. The only function used: =SUM( ) for the totals.
I understand that sometimes, you do not have the time to explore and put together spreadsheet solutions. To ease up things, I have included a spreadsheet with this methodology, it is only $3 to cover the costs of running this website and keep adding new material. You can modify, update or change the spreadsheet to accommodate your needs. Worksheet HERE!
Please add some comments, requests of new material or spreadsheets. I want to improve your site experience and keep you as a regular visitor.