Payroll Calculator: Budget Vs. Actual Analysis Included
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This template is a great help to any accounting department that must manually calculate employee payroll and then enter it into a system. There are two employee types (hourly / salary).
Inputs for Hourly Workers (up to 30 slots by default):
- # of Hours Worked in Period
- Hourly Pay Rate
Inputs for Salary Workers (up to 30 slots by default):
- Base Salary in Period
- Commissions / Bonuses in Period
The model automatically calculates the total employee pay based on the logic and inputs above. There are further inputs for both employee types that include up to three percentage that allow for payroll taxes, insurance, benefits, or what have you to be accounted for. This was done to better figure out the total employer payroll expense. Even though that number may not go anywhere further, it is useful in order to understand what the total expense actually is vs. a budget.
The final output for the employee side is pay before taxes. This would then be entered into whatever payroll system you have and their specific taxes / insurance would be calculated within whatever system is being used. Each employee line item also has conditional formatting that compares their actual pay vs. what their budgeted to be paid. A $ and % variance will display.
The model is expandable to as many pay periods as you want to have in the workbook. Simply fill out the base template with all relevant static data and then use that to create a duplicate tab for each new pay period. The final result is a record of what each employee should have been paid for each period and what the total payroll expense should have been.
Payroll Calculator: Budget Vs. Actual Analysis Included
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$45.00
This template is a great help to any accounting department that must manually calculate employee payroll and then enter it into a system. There are two employee types (hourly / salary).
Inputs for Hourly Workers (up to 30 slots by default):
- # of Hours Worked in Period
- Hourly Pay Rate
Inputs for Salary Workers (up to 30 slots by default):
- Base Salary in Period
- Commissions / Bonuses in Period
The model automatically calculates the total employee pay based on the logic and inputs above. There are further inputs for both employee types that include up to three percentage that allow for payroll taxes, insurance, benefits, or what have you to be accounted for. This was done to better figure out the total employer payroll expense. Even though that number may not go anywhere further, it is useful in order to understand what the total expense actually is vs. a budget.
The final output for the employee side is pay before taxes. This would then be entered into whatever payroll system you have and their specific taxes / insurance would be calculated within whatever system is being used. Each employee line item also has conditional formatting that compares their actual pay vs. what their budgeted to be paid. A $ and % variance will display.
The model is expandable to as many pay periods as you want to have in the workbook. Simply fill out the base template with all relevant static data and then use that to create a duplicate tab for each new pay period. The final result is a record of what each employee should have been paid for each period and what the total payroll expense should have been.
