Payroll Calculator (Excel XLSX)

VIDEO DEMO

DESCRIPTION

This product (Payroll Calculator) is an Excel template (XLSX), which you can download immediately upon purchase.

The calculator is simple. Enter high level payroll information, such as hours and rates, and this will do the math for you. It was built to expand easily over multiple payroll periods and prevent manual payroll calculation errors. There are percentages for payroll taxes / bonuses as well as optional payee types (salary vs. hourly).

This is a general payroll calculator. It has some basic calculations as well as some more complex logic, visuals and is scalable for as many pay periods as you want to track in the Excel workbook.

The first section is based on hourly wages and has 30 slots, the second section is based on salary / commission-based employees and also has 30 slots. It is not hard to expand to more slots if you have more than 30 employees for each section.

Simply insert rows and drag the formulas down and make sure the sum total formulas extend down to your last new row added.

There is a total pay per employee calculation per period as well as a total payroll expense (after adding in up to 3 costs that are based on a percentage of pay). For better management, the user can also enter a budget value for each employee per period and there is a full budget vs. actual analysis and that is what the visualization is based on.

Instructions are in the file to show how to best use the format and template for an on-going basis. The point of this tool is to help payroll managers not have to do any math. Simply enter the base components of payroll and the formulas will do the rest of the reporting and summaries. At the top, there is an analysis to show the total payroll costs relative to total revenue in the given period based on annualizing that period's payroll.

Source: Best Practices in Payroll Excel: Payroll Calculator Excel (XLSX) Spreadsheet, Jason Varner | SmartHelping