There are different methods of timecard conversion you can use to prepare payroll, but not all of them are accurate.įirst, it's important to understand what steps you should take to convert hours and minutes to decimals. It's worth mentioning that even if you don't hire hourly employees, you still need to use the time conversion chart when you calculate overtime hours and pay for your salaried employees. The time conversion chart will standardize your time records, thus helping you make accurate payroll calculations and avoid all these unpleasant scenarios.
On the other hand, if your employees get less than they should, you risk litigation and being slapped with hefty fines. Besides hurting your bottom line, such mistakes can cause unnecessary complications. These issues can result in overpaying your employees. This is particularly important if you use paper timesheets and manually record employee hours. If your company hires hourly workers, then timesheet conversion is necessary for recording their time and attendance accurately.īy implementing the decimal format, you can minimize the odds of inaccurate payroll time and payroll calculations. Why Is Time Conversion Chart Important for Payroll?
We'll talk about this process in greater detail below. In this case, the timesheet conversion process involves an additional step.įirst, you have to convert military time to standard hours and then use the time conversion chart to convert it to the decimal format for payroll. Some organizations use military time or the 24-hour clock. 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.
24 HOUR TIME CLOCK CONVERSION CHART 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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