![]() Then you need to multiply the number of hours she worked by her hourly rate to determine her weekly total pay. The hourly rate that she receives is $15.įirst, you have to take the information from her weekly time card or timesheet that contains her clock-in and clock-out times (ee timecard templates here). This week she has worked 37 hours and 42 minutes (and no overtime hours). It is also essential for keeping track of lunch breaks, general break time, overtime pay, and holidays. ![]() This is crucial for hourly staff members, who are often non-exempt employees. You need to convert time into decimal numbers to figure out your employees' exact pay rate. Why? Because one hour contains 60 minutes, and not 100. But hours and minutes aren’t directly equal to money owed. Usually you get records of employees’ time worked in hours and minutes. That is why we’ve provided a free time conversion guide for you to download.Wait…so why do I need time clock conversion? It can be hard to remember different conversions like this one. For example, two hours is 120 minutes and 40 hours is 2,400 minutes. This will allow you to determine the number of minutes within that hour number. With that in mind, you can take a look at different hour amounts and multiply them by 60. That means that one hour is the same as 60 minutes. First, you need to understand that hours and minutes use a base of 60. How To Convert Time Into MinutesĬonverting hours to minutes is actually easier than you may think. Luckily, you don’t need a math degree to get this done! Let’s take a look at different time conversions you may need. Things like payroll or scheduling can require different formats. This doesn’t make it any easier when you need specific conversions. Hours and minutes fall under different specifications depending on their uses. Converting Accurate TimeĬonverting hours to decimals or even just hours to minutes is confusing but this post will help you sort it out and, hopefully, help you speed up your payroll process. One way to help ensure everyone submits their timesheets on time, is to assign a supervisor in charge of collecting them. Many construction and field service companies still use spreadsheets like Excel to keep track of their employees’ hours but if you have missing, illegible, incomplete, or inaccurate timesheets, you will need to get all of that information before sitting down to do payroll. Make sure you have all of the records you need before you begin so you can process it uninterrupted. Payroll is a part of your job that you’ll need to set aside a dedicated time to do, so you can focus on it without any interruptions.ĭepending on the number of employees you have, who is salaried/not salaried, and how you process payroll, you will need to set aside a minimum of two hours to process your payroll. When you own and/or manage a business, you’ll likely have tons to do (and tons you want to get done) with little to no extra time. Conversely, mistaking a 1 for a 7, will cost you money by paying for unworked hours. If you are converting time and misread, for example, an 8 for a 6, you could end up underpaying your employees. Some of our customers have experienced frustration when their employees left for the weekend and were not available to clarify their time information. It’s wise to try to do this before lunch time so you’ll have time to reach out to any employee whose information is unclear. Examine each record and make sure it is complete and legible. Start With The Right Toolsīefore you sit down to convert your workers’ times, be sure you have everything you need to get it done in one session. This payroll time conversion chart will help ensure you are converting your time properly. Either way, you’ll need to know how to accurately process payroll and properly convert those timesheets so your employees get paid the right amount on payday, every time. Inaccurate paychecks can either cost you money, or upset your employees. Payroll is an essential part of keeping your company going. Not accurately reporting sales and payroll taxes.Writing off major purchases as immediate expenses.Not tracking receipts for minor purchases.How Timesheet Errors Can Impact Construction and Field Service CompaniesĮxperts report that 10 common mistakes made in bookkeeping can cost your company a lot of money. That’s probably why 73 percent of organizations polled by Deloitte outsource some aspect of payroll. From inventory and fleet management to job costing, employee safety, and reports, a business owner’s job is non-stop.Īdd to your duties, collecting, disseminating, deciphering, adding, and inputting all of the information from hand-written notes and timesheets, and you have no extra hours in the day. When you run a small- or mid-sized construction or field service company, you’re already busy making sure your people are doing their jobs right, and satisfying your customers.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |