Payroll Standard Operating Procedure 4.0: FLSA Overtime Calculations for Biweekly Payroll
FLSA Overtime Calculator for Biweekly Payroll
Financial Management Services
To compute an estimate of overtime pay for situations where multiple rates or bonus-type payments (that will inflate the overtime rate) are involved.
This calculator will help you compute an estimate of overtime pay for situations where multiple rates (weighted average) or bonus-type payments (that will inflate the overtime rate) are involved. Due to rounding, the actual amount paid may be slightly different than the calculated amount on this spreadsheet.
In the spreadsheet linked below, fill in the hours and rate information, as well as the total of any bonus-type payments the employee is receiving in the given earnings period. There are comments throughout the document that will help you know what to enter, as well as explain the calculated amounts. You can see these comments by placing your mouse over a cell that has a red triangle in the top right hand corner.
Only enter in the orange sections and only enter what is earned for a 1-week period. If you have more than one week to calculate, you will need to do it separately. After you calculate for the first week, you can use the Clear button to reset the worksheet. But first, you will need to enable the macro to run.
Link to the FLSA Excel 97-03 worksheet
|See the following policies,
Fiscal Officer's Procedures to Ensure Compliant, Accurate and Timely Payroll Processing: Payroll PSOP 1.0
Accounting Administration Policy I-1, Role of Fiscal Officer, Account Manager, and Account Supervisor: FIN-ACC-1-1
Policy VI-121, Establishing and Generating Revenue Producing Activity (RPA): FIN-TRE-VI-121
|Financial Management Services