5 Easy Steps to Calculate A Basic Monthly Timesheet

basic monthly timesheet helps you to calculate the hours worked correctly. You can ensure that employees are getting the accurate amount of payment.

Samples of Basic Monthly Timesheet :

simple printable monthly timesheet template

printable basic monthly timesheet template

detailed monthly timesheet template

monthly timesheet template with overtime

You can use various methods available in tracking and calculating hours worked. Make sure you select the appropriate way and teach your team members about it. The below information will inform you about the step-by-step to calculate the work hours.

1. Set The Starting and Ending Time

Before the automatic calculation, most employers calculate the work hours manually. They apply a physical timesheet to record the time and hours worked.

This way allows you to determine the clock in and out time for your team members. They have to know what time to start and end the work during the pay period. Let’s say you start working at 7:30 a.m and finish at 4:30 p.m.

However, you can set this timing on your automatic timing calculation. Automatization can minimize the error that may occur in the manual calculation.

1. Convert The Time to 24 Hours

This timing method is also called military time. It means you calculate the time for 24 hours without differentiating the morning and afternoon hours.

Additionally, you do not require the use of a.m and p.m. The morning hours remain the same as the original, while you have to add 12 for the afternoon hours.

Through this, you can see that the morning and night time are different. Take, for example, 7:30 a.m becomes 7:30 hours, and 4:30 p.m becomes 16:30 hours.

1. Change Minutes into Decimals

Using a basic monthly timesheetmakes you learn about a new thing. You have to be able to calculate the hours worked accurately. The calculation should include the minutes as well.

In the manual system, you convert the minutes into decimals. Divide the minutes by 60 for each hour. The following example helps you to understand it clearly.

If you start work at 7:30, it represents 7 hours and 30 minutes. Once you divide 30 by 60, you will get 0.50. Thus, this format changes 7:30 into 7.50 and 16:30 into 16.50.

1. Subtract The End Time with The Start Time

This step allows you to get the total hours completed by each employee. After knowing the start and end times, you can calculate the total hours worked.

You can use the previous hours worked in this step. Subtract the clock in time from the employees’ clock out, for example, 16.50-7,50= 9.00. So, you will get 9 hours as the total hours worked.

1. Take Out The Unpaid Times

This stage helps you to finalize your calculation. You are required to subtract the unpaid time, including the break time.

The most common break taken by employees is the lunch break. It takes a maximum of one hour. So, you will calculate the hours worked into 9.00 – 1 = 8.00.

From the previous explanation, you will get the total hours worked is 8.00 on that day. You can use this number of hours to calculate the gross wage.

After that, multiply the gross wage by the hours worked. In a basic monthly timesheet, this amount is called an hourly wage.