How to create billable hours template in Excel?
If you have a time work, and earn your money based on actual working hours, how to record your work hours and calculate earned money? Of course there are many professional tools for you, but here I will guide you to create a billable hour table in Excel, and save it as an Excel template easily.
- Create a billable table and save as normal Excel template
- Only save the billable table (selection) as mini template
To create a billable hour table and save as an Excel template, you can do as following:
Step 1: Prepare your table as the following screen shot show, and input your data.
Step 2: Calculate the working hours and overtime with formulas:
(1) In Cell F2 enter =IF((E2-D2)*24>8,8,(E2-D2)*24), and drag the Fill Handle down to the range you need. In our case, we apply the formula into Range F2: F7.
(2) In Cell H2 enter =IF((E2-D2)*24>8,(E2-D2)*24-8,0), and drag the Fill Handle down to the range you need. In our case, drag to the Range H2:H7.
Note: We normally work for 8 hours per day. If your working hours are not 8 hours per day, please change the 8 to the number of your working hours in both formulas.
Step 3: Calculate the total money of every day: In Cell J2 enter =F2*G2+H2*I2, and drag the Fill Handle down to the range you need (in our case, drag to the Range J2:J7.)
Step 4: Get the subtotal of working hours, overtime, and earned money:
(1) In Cell F8 enter =SUM(F2:F7) and press the Enter key.
(2) In Cell H8 enter =SUM(H2:H7) and press the Enter key.
(3) In Cell J8 enter =SUM(J2:J7) and press the Enter key.
Step 5: Calculate the total money of each project or client: In Cell B11 enter =SUMIF(A$2:A$7,A11, J$2:J$7), and then drag the Fill Handle to the Range your need (in our case drag to the Range B12:B13).
Step 6: Click the File > Save > Computer > Browse in Excel 2013, or click the File/ Office button > Save in Excel 2007 and 2010.
Step 7: In the coming Save As dialog box, enter a name for this workbook in the File name box, and click the Save as type box and select Excel Template (*.xltx) from drop down list, at last click the Save button.
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To post as a guest, your comment is unpublished.· 5 days agoI'd also like to recommend a billable hours calculator https://tmetric.com/billable-hours-calculator. It's easy in use and helps you keep track of your time and not miss any minute you work.
To post as a guest, your comment is unpublished.· 3 years agohow do I create a formula when there is part thereof payment? For example, if work is 8hr15 mins, it is counted as 8hrs billable, but if it is 8hr16min, then it is counted as 9hrs?
To post as a guest, your comment is unpublished.· 2 years agoHi Don,
In the example of this article, the working time are calculated as hours, it will convert minutes to hours automatically, such as 2.3 hours, 5.5 hours.