- HOW TO ACTIVATE SOLVER IN EXCEL 2010 HOW TO
- HOW TO ACTIVATE SOLVER IN EXCEL 2010 MANUAL
- HOW TO ACTIVATE SOLVER IN EXCEL 2010 SOFTWARE
- HOW TO ACTIVATE SOLVER IN EXCEL 2010 PROFESSIONAL
- HOW TO ACTIVATE SOLVER IN EXCEL 2010 DOWNLOAD
Step 8: Now, finally, we come towards Net Pay. If there is no other deductible for a particular employee, you can set the value under column H for that employee to zero.
HOW TO ACTIVATE SOLVER IN EXCEL 2010 PROFESSIONAL
These deductibles may contain the premium of health/life insurance, professional taxes, EMI amount if any loan is taken from an organization, etc. Step 7: You have to mention other deductibles, if any, for a particular employee. Which in terms of excel payroll sheet can be formulated under cell G2 as =0.15*F2 (Column F contains Gross Pay amount). The formula for Income Tax, therefore, becomes as – 0.15 * Gross Pay. In this case, we will consider 15% of Income-tax on all the Gross Pay. Income Tax is always calculated on Gross Pay. Step 6: In order to calculate the Income Tax, you need to check how much percentage of tax your employee pays on the total gross pay. However, you can see the screenshot below for a better understanding.Īfter using the formula, the answer is shown below.ĭrag the same formula cell F3 to cell F6. The payroll sheet can be formulated under cell F4 as =(B2*C2)+(D2*E2). (Pay/Hour * Total Hours Worked) + (Overtime/Hour * Total Overtime Hours). Gross Pay is nothing but the sum of the product of Pay/Hour Total Worked Hours and Overtime/Hour, Total Overtime Hours. Also, the Pay/Hour and Overtime/Hour are in USD. The same is the case with total hours overtimed. Therefore 160 means total hours worked during the month. In this example, if you can see, the Total Hours Worked and Total Overtime Hours are considered on a monthly basis (because we pay the employee on a monthly basis, right?). See the screenshot below for a better understanding.
I will say input the fields with no formula (From column A to column E). Step 4: Add the details column-wise like Employee Name in column A, the number of hours worked and hourly paying rate, etc.
HOW TO ACTIVATE SOLVER IN EXCEL 2010 DOWNLOAD
You can download this Payroll Excel Template here – Payroll Excel Template
HOW TO ACTIVATE SOLVER IN EXCEL 2010 HOW TO
Let’s understand how to create the Payroll in Excel with a few steps.
Payroll in Excel is very simple and easy. In this article, we are going to see how we can create a payroll manually from scratch. The range of simple formulae and its simple layout makes excel stand out for those who are doing payroll manually for their employee.
Yes, you might have guessed it right! Microsoft Excel. With all these requirements, you can easily guess the tool. In order to do payroll manually, you need something (definitely a tool) that is powerful, versatile and easy to handle at the same time.
HOW TO ACTIVATE SOLVER IN EXCEL 2010 MANUAL
However, the core of those is that it is very time-consuming to do all the manual work for payroll and have it set. Several reasons are there for this approach.
HOW TO ACTIVATE SOLVER IN EXCEL 2010 SOFTWARE