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.
#BEST MILITARY TIME CLOCK PAYROLL CONVERSION HOW TO#
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. Do You Know How to Use The Time Conversion Chart?
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